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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Key takeaways With debt forgiveness, creditors pardon some or all of your debt. Various types of debt may qualify for forgiveness. Debt forgiveness can offer relief from overwhelming financial burdens, but it does have downsides. Debt forgiveness is only one option for managing difficulties with repayment. Struggling with debt can…
Personalization is a hot topic in the marketing world. This is playing out in the credit card space in multiple ways. Here’s what you need to know, and how you can use this trend to your advantage. Have a question about credit cards? E-mail me at [email protected] and I’d be…
Key takeaways Financial and personal documentation provides lenders with the assurance and confidence you will pay off your loan. When you apply for an auto loan, gather any necessary paperwork, like proof of income and employment, to make sure the process runs smoothly. You will need specific vehicle and insurance…
Key takeaways In a Chapter 7 bankruptcy, creditors can seize certain assets to repay the debts you owe. However, exceptions allow debtors to retain some of their assets (or at least part of the asset’s value). Chapter 13 bankruptcy is more about restructuring debts than forfeiting assets. Under Chapter 13…
Morsa Images/Getty Images If you’re one of the many Americans who freelance or own your own business, you might find a business credit card a useful addition to your wallet. They’re a handy financial tool for separating your personal and business expenses. While business credit cards typically cater to large-…
Image by Getty Images; Illustration by Bankrate If you’re planning for retirement, one of your key questions is how much you can earn from Social Security — what’s the maximum you can get? As of January 2025, the maximum benefit you can receive at full retirement age is $4,018 per…
Key takeaways Because the Fed’s decisions to change interest rates affect the pricing of bonds, bond investors closely monitor Federal Reserve interest rate moves. The Fed lowered rates in late 2024 but paused rates until its meeting on Sept. 16-17, 2025, when it decided to lower rates by 25 basis…
Key takeaways Uniformed service members and federal employees can borrow against their retirement plans with a TSP loan. You can borrow a minimum of $1,000. You can borrow a TSP loan for general purposes, and you can use funds to construct or close on a home. TSP loans come with…
Higher interest rates played out on stocks, cryptocurrency and commodities such as oil over the past few years. But now that the Federal Reserve has been lowering short-term rates, what can investors expect from here, and how long will the shifting rate environment impact markets? After lowering interest rates by…
Key takeaways For those wanting to grow older in their own homes, HELOCs (home equity lines of credit), home improvement loans and home equity loans may be a good way to finance the necessary renovations. If you’re moving in with a loved one, consider a personal loan or low-interest credit…
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