Key takeaways Figuring your AGI is a crucial step on the path to calculating your taxable income and, in turn, your tax bill. Your AGI determines your eligibility for a variety of tax deductions and tax credits. (Sometimes, your modified adjusted gross income comes into play — more on that…
Key takeaways The standard deduction is a specific dollar amount that you can use to reduce your taxable income. You have to choose between claiming the standard deduction and itemizing (that is, claiming expenses that you paid). The standard deduction amount usually increases each year for inflation. Also, the standard…
Key takeaways The deadline to file federal income tax returns this year — to report income earned in 2025 — is April 15, 2026. If you file an extension, you have until Oct. 15 to file your federal tax return. If you file an extension you have until Oct. 15…
If financial stress has been weighing you down, you aren’t alone. Around 43% of Americans cite money as a factor negatively impacting their mental health, according to a recent Bankrate survey. January is the perfect time to reset your financial mindset and create routines that bring peace of mind all year long. By building good money…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Historically Black colleges and universities are on the frontlines of the One Big Beautiful Bill Act’s new limits on parent…
The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
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Key takeaways Savings accounts are deposit accounts available at banks and credit unions. They allow you to keep your money safe while it earns interest. Online banks tend to offer the highest interest rates for savings accounts. You can withdraw your money from a savings…
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Tip 3: Learn How to Create a Better ‘To Do’ List When we make resolutions, we tend to resolve to do certain things.…
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These entrepreneurs, traders and investors are making an outsized impact in fintech, crypto and traditional financial services.By Jeff Kauflin, Hank Tucker and Nina…
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The Downsides of Credit Card Churning and Why It Is Risky You may be asking yourself, “Those benefits sound great, why is credit card churning risky?” There are many downsides of credit card churning to be aware of. For starters, every new application triggers a hard inquiry, which can lower…
A Debt Management Plan (DMP) might be right for you if you recognize yourself in any of these situations: You have multiple high-interest credit cards and want one simplified monthly payment. You can afford to pay something each month, but you need lower interest rates to make progress. You’re falling…
Filing taxes can feel overwhelming, but one of the most important decisions you’ll make is also one of the simplest: whether to take the standard deduction. For single filers, this deduction offers a powerful way to lower your taxable income without diving into piles of receipts or complicated calculations. Knowing…
Turning 65 doesn’t just mark a milestone in life, it can also unlock valuable tax savings. The IRS grants seniors an extra standard deduction. This deduction can lower taxable income by thousands of dollars, helping stretch retirement savings further. Whether you’re newly retired or planning ahead, understanding how this deduction…
For a long time, credit cards have generally fallen into three tiers: no-annual-fee cards, mid-tier cards with annual fees around $95 and premium cards with annual fees measured in the hundreds (these used to cluster around $400 or $500 per year, now it’s more like $800 or $900 in many…
Olelole/iStock/Getty Images Key takeaways The Chase Freedom Flex®* offers quarterly rotating bonus categories through which cardholders can earn 5 percent cash back (on up to $1,500 in the categories after activation, then 1 percent back). Categories change every three months, and cardholders have the ability to activate up until the…
Most of us know how to use our credit card to make purchases, but not everybody knows how to get cash from a credit card at an ATM. When you use your credit card to request a cash advance, you can withdraw money from your credit card and use it…
Image by GettyImages; Illustration by Bankrate Home equity line of credit (HELOC) rates have dipped to levels not seen since March 2023. The $30,000 home equity line of credit fell eight basis points to 7.82%, according to Bankrate’s national survey of lenders. Meanwhile, the benchmark 5-year $30,000 home equity loan…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates reversed course to edge higher this week, with the 30-year fixed rate averaging 6.31 percent, up from 6.25 percent the previous week, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year…
Congratulations, you left that old job behind! Everything is in front of you now. Well, except for that old 401(k). Don’t forget about that because that is your future, and you need to keep a close eye on it. Unfortunately, bringing your 401(k) along isn’t as easy as cleaning out…
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