When a loved one dies, there are a lot of questions you have to deal with, not the least of which is how to pay for a funeral and other death expenses. A life insurance policy could help, but the deceased must have made sure the proper beneficiary is named. If at least one beneficiary is not…

With the recent student loan forgiveness announcement, many borrowers have been left confused or even unaware of their tax obligation for the coming tax year. Help your clients know what to expect with our list of common tax-related questions surrounding student debt relief. Is student debt forgiveness taxable? For the most part, no. The American…

Cryptocurrency lets users exchange, track, and send virtual money in a way that’s never been possible before. But as with any new significant financial development, there are plenty of unknowns. One area of uncertainty is the government, which might announce new cryptocurrency regulations at any time. Here’s a closer look at how regulation may affect cryptocurrency in…

Saving enough for retirement is no easy feat, and a new survey indicates eye-popping inflation is making it much more difficult. More than half of Americans (54%) say they have cut back on retirement contributions or stopped saving entirely, according to a survey of 1,004 people from insurance company Allianz Life. The grim reality is a direct…

We all know friends or loved ones who don’t have close family members in their lives. My sister passed recently. It was absolutely unexpected but since we had prepared for her passing, it was much less painful as there were no decisions to be made. You should have someone on your bank account who can…

If you look at your finances and see a lot of debt, you’re not alone. Pandemic stimulus packages did help to reduce U.S. consumer debt in 2020. But Federal Reserve data shows that balances began to grow again in 2021 and reached a new all-time high of over $900 billion in August 2022. The average APR on…

Millions of borrowers 50 and older are struggling to repay loans for themselves and their children, some delaying retirement. There’s a trick, though, to help with repayment. Student loan debt is not just holding back young adults. It’s increasingly an issue for older people, sending many of them into default and threatening retirement plans for…

American households could be in for a significant heating bill increase this winter — perhaps a price hike up to 34%, according to a new forecast. The estimated increases would mark a second year in a row of substantially more expensive heating bills for renters and homeowners around the country. The largest price jumps are forecasted for…

Millions of taxpayers will get refunds for late-filing penalties assessed in recent years, the IRS says. The refunds will apply to penalties from the 2019 and 2020 tax years. If you received a late-filing penalty for either of those years but haven’t paid it yet, the IRS will remove it from your account. If you…

A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress DETROIT — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now…