The financial news that actually matters
Millions of Americans financing a new car purchase can now subtract up to $10,000 in annual loan interest from their taxable income, a break that took effect for tax year 2025 and runs through 2028. The deduction, created by the One, Big, Beautiful Bill, phases out for single filers earning between $100,000 and $150,000 and…
A federal law that took effect on September 21, 2018, eliminated fees for placing and lifting credit freezes at Equifax, Experian, and TransUnion, giving every American a free tool to block identity thieves from opening new accounts. The change, enacted through the Economic Growth, Regulatory Relief, and Consumer Protection Act, requires each of the three…
Americans who collect Social Security before reaching full retirement age and earn more than $2,040 in any month during 2026 will see their benefit checks reduced automatically. The Social Security Administration withholds $1 in benefits for every $2 earned above an annual cap of $24,480, a threshold that rises to $65,160 in the calendar year…
Americans lost $3.5 billion to imposter scams in 2025, a nearly 20 percent increase over the prior year, after the Federal Trade Commission recorded more than one million complaints. The losses stem from callers posing as government officials, tech-support agents, or trusted companies, then pressuring victims into sending money through channels that are almost impossible…
Americans who turn 65 and skip Medicare Part B enrollment without holding other qualifying health coverage face a permanent financial hit: a 10% premium surcharge for every full year they were eligible but failed to sign up. The penalty never expires. It compounds on top of the standard monthly premium and follows enrollees for as…
Millions of taxpayers filing 2025 returns are collecting noticeably fatter refund checks this spring, with the average payment climbing 10.6% to $3,676 through early March, up from $3,324 a year earlier. Two new deductions created by the One, Big, Beautiful Bill Act, signed into law on July 4, 2025, are driving much of the increase:…
First-time homebuyers grabbed their largest share of the housing market in at least a year during May, accounting for 35 percent of existing-home sales as available inventory climbed to 1.55 million units and the frantic bidding wars of recent years continued to fade. The data, released by the National Association of Realtors on June 9,…
Medicare beneficiaries admitted to a hospital in 2026 will pay a $1,736 deductible for each benefit period, and those who stay past 60 days will face daily coinsurance charges that escalate with no annual ceiling on total costs. The Centers for Medicare and Medicaid Services set the new amounts through administrative instructions effective January 5,…
Married couples filing jointly who keep their taxable income below $98,900 in 2026 will owe zero federal tax on long-term capital gains. The IRS confirmed that threshold in its announcement of annual inflation adjustments for tax year 2026, incorporating changes enacted through Public Law 119-21, the One, Big, Beautiful Bill Act. For households selling a…
Roughly 6 million tipped workers in the United States became eligible for a new federal income tax deduction when they filed 2025 returns this spring, and early IRS data shows they used it at a striking rate. By early March 2026, over 3.5 million returns had already claimed the “No Tax on Tips” deduction on…