Inflation has been a topic of concern among investors lately, especially after a recent batch of data suggested that reigning in consumer prices may take longer than expected. However, amidst this climate of rising prices, there are certain categories of goods and services that are experiencing deflation. This shift in prices, where certain goods are
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As tax season approaches, many taxpayers are focused on filing their taxes by the April 15 deadline. However, it is important to remember another key deadline: the due date for first-quarter estimated tax payments. These payments are typically required for individuals earning income from sources without tax withholdings, such as gig economy work, freelancing, small
The recent release of new government inflation data has unveiled a higher than expected increase in consumer prices. This rise in inflation, measured by the consumer price index (CPI), shows a 3.5% increase from a year ago and a 0.4% increase for the month. The CPI serves as a tool to track average changes in
Since assuming office, the Biden administration has been working diligently to implement a student loan forgiveness plan to alleviate the burden on millions of Americans. The plan aims to target certain groups of people, including those experiencing financial hardship and graduates of poor-quality schools, as well as clear the interest on debt for some 25
If you find yourself feeling unprepared to file your taxes, you are not alone. According to a recent survey, 1 in 4 Americans do not feel ready to file their taxes, with 29% admitting to procrastinating the process. However, there is a solution that can give you more time to file – a federal tax
Recent data reveals that the Federal Reserve is not in a hurry to decrease its benchmark rate. Predictions of multiple cuts before the year ends are dwindling due to results like a strong jobs report and a faster-than-expected increase in the consumer price index for March. This unexpected turn of events indicates that inflation is
The Federal Insurance Deposit Corporation (FDIC) recently implemented new requirements for deposit insurance for trust accounts. While the intention behind these changes is to simplify insurance coverage rules for trust accounts, it may have unintended consequences for depositors with over $250,000 in deposits at a bank. The FDIC, established by Congress after the Great Depression
As the April 15 federal tax deadline approaches, the IRS has introduced a significant update to its Direct File program, an initiative aimed at simplifying the tax filing process for eligible individuals. This update allows users to import crucial information required to verify returns before filing, addressing a key issue that has hindered successful filings
President Joe Biden has revealed his revised plan to tackle the issue of student debt forgiveness, which comes after facing legal challenges in the past. This new proposal aims to be more targeted and sustainable, focusing on specific groups of borrowers who are in financial need. The main goal is to relieve individuals from the
President Joe Biden recently announced a new, expansive student loan forgiveness plan that has the potential to benefit tens of millions of Americans. This announcement comes after the Supreme Court’s rejection of his initial attempt to cancel up to $20,000 in student debt per borrower, deeming it unconstitutional. While Biden’s revised plan may be narrower