taxes

As a record 8.7% increase in the Social Security cost of living begins in 2023, here's what recipients should look for in annual statements

As a record 8.7% increase in the Social Security cost of living begins in 2023, here’s what recipients should look for in annual statements

Catherine Ziegler | Digital vision | Getty Images As inflation kept prices high in 2022, Social Security recipients can expect a record cost-of-living adjustment in 2023. “Your Social Security benefits will increase by 8.7% in 2023 due to an increase in the cost of living,” the Social Security Administration says in the annual statements it …

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IRS issues another tax warning to Americans who earned more than $600 online

IRS issues another tax warning to Americans who earned more than $600 online

Independent contractors who have earned money through online services will have their income reported to the Internal Revenue Service (IRS) starting in 2023, the agency said in a second warning issued Tuesday. People who have made money through eBay, Etsy, Poshmark, Uber and other digital services will face the new oversight and new rules. It …

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How Consumers Can Save Over $10,000 With New Climate Tax Breaks

How Consumers Can Save Over $10,000 With New Climate Tax Breaks

As Americans face mounting costs at every turn, the recently passed Cut Inflation Act of 2022 aims to provide some relief. Much of this relief comes in the form of energy tax credits, granted when you purchase certain environmentally friendly products. But which products offer kickbacks and how much can you get? Here’s what you …

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4 Ways Taxes Could Burst Your Retirement Bubble (And What To Do About Them)

4 Ways Taxes Could Burst Your Retirement Bubble (And What To Do About Them)

When people think about planning for retirement, they tend to focus on saving and investing so they have a good nest egg when they leave work. And that’s a good starting point. But it’s also important to pay attention to the impact of taxes on your retirement savings and any other sources of income you’ll …

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5 key personal finance issues this midterm election - and what they mean for your wallet

5 key personal finance issues this midterm election – and what they mean for your wallet

As Americans head to the polls, several key personal finance issues weigh on voters’ minds and wallets. This week, the Federal Reserve enacted its fourth consecutive 0.75 percentage point increase in interest rates to fight inflation, triggering further losses in stock markets. Meanwhile, recession fears are growing, with 84% of Americans worried about how a …

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