It’s Easier to Get a Tax Deduction for Donations This Year

Under the pandemic relief program, taxpayers can deduct up to $300, even if they take the standard deduction. And even if $300 doesn’t sound like much, it’s “a big deal” to the needy.

#content-type-service, #coronavirus-2019-ncov, #federal-taxes-us, #nonprofit-organizations, #personal-finances, #philanthropy, #tax-credits-deductions-and-exemptions

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What Biden’s Election Could Mean for Student Loans

The incoming administration has proposed a series of changes that could affect more than 42 million student loan borrowers. Here’s what to expect.

#biden-joseph-r-jr, #colleges-and-universities, #corinthian-colleges-inc, #democratic-party, #devos-elizabeth-1958, #education-k-12, #federal-aid-us, #for-profit-schools, #law-and-legislation, #obama-barack, #personal-bankruptcies, #personal-finances, #presidential-election-of-2020, #student-loans, #warren-elizabeth

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Obamacare Enrollment Opens, With Costs Generally Lower

Millions lost their insurance, along with their jobs, during the pandemic. But many people are eligible for financial help.

#content-type-service, #coronavirus-2019-ncov, #health-insurance-and-managed-care, #healthcare-gov, #medicaid, #patient-protection-and-affordable-care-act-2010, #personal-finances, #unemployment

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More Workers Get Help in Building Rainy Day Savings

The pandemic has shown the need for a financial cushion. Now, some companies are offering programs that automatically deduct money from paychecks.

#blackrock-inc, #content-type-service, #coronavirus-2019-ncov, #employee-fringe-benefits, #personal-finances, #savings, #united-parcel-service-inc

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Investing for the Future in the United States of Agita

No matter who wins the presidency, a lot of people are going to be disappointed. Maybe even scared. But it’s no time to act rashly.

#biden-joseph-r-jr, #content-type-service, #personal-finances, #presidential-election-of-2020, #stocks-and-bonds, #trump-donald-j, #united-states-politics-and-government

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Stressed About the Election? Don’t Take It Out on Your Investments

It may be tempting, one economist says, to think that if your side wins, the economy will be all right. But no matter who wins, it may not be as good or as bad as you think.

#anxiety-and-stress, #coronavirus-2019-ncov, #personal-finances, #presidential-election-of-2020

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Reasons to Sign Up for a Health Savings Account

The money grows tax free, and can act as a sort of 401(k) for future health needs if invested. But just 6 percent of account holders do invest the savings.

#content-type-service, #coronavirus-2019-ncov, #employee-fringe-benefits, #health-insurance-and-managed-care, #healthcare-gov, #personal-finances, #tax-credits-deductions-and-exemptions

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Recession’s Silver Lining: American Households Are Doing Better Than Expected

With few avenues for spending and big purchases on hold, many Americans are saving more and paying off debts, helped by loan deferrals and relief aid.

#coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #credit-cards, #credit-scores, #fair-isaac-corporation, #layoffs-and-job-reductions, #personal-finances, #recession-and-depression, #savings, #stimulus-economic, #united-states-economy

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Ant Challenged Beijing and Prospered. Now It Toes the Line.

The tech giant, which is preparing for a mega I.P.O., has transformed personal finance in China. Regulators have taken notice.

#alibaba-group-holding-ltd, #alipay, #ant-financial-services-group, #banking-and-financial-institutions, #china, #e-commerce, #initial-public-offerings, #ma-jack, #mobile-commerce-and-payments, #personal-finances

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Make Your First Home Your Last: The Case for Not Moving Up

It’s a tough moment for big decisions. Think more about what you’ll want in three years — and not just three months, when we’ll still be shut in.

#content-type-service, #coronavirus-2019-ncov, #personal-finances, #real-estate-and-housing-residential, #savings

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As Open Enrollment Begins, Health Benefits May Not Change Much

Costs are expected to rise about 4 to 5 percent, in line with increases in recent years, as employers seek to avoid adding to their workers’ stress.

#content-type-service, #employee-fringe-benefits, #health-insurance-and-managed-care, #healthcare-gov, #labor-and-jobs, #patient-protection-and-affordable-care-act-2010, #personal-finances, #supreme-court-us, #unemployment

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In Love and Out of Debt

Haley Messner and Tanner Cemper had obstacles to overcome before they could marry. First came their financial issues, then they had to deal with a pandemic.

#budgets-and-budgeting, #coronavirus-2019-ncov, #personal-finances, #weddings-and-engagements

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Private Schools Hold New Attraction for Rich Parents

Schools offering in-person teaching are seeing a rise in applications — even when tuition is $50,000 a year or more.

#coronavirus-2019-ncov, #e-learning, #education-k-12, #high-net-worth-individuals, #national-assn-of-independent-schools, #personal-finances, #private-and-sectarian-schools, #shutdowns-institutional

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How to Use Your Heart and Head to Hack Your Personal Finance

Yes, you need to do some math if you want to handle your finances well. But don’t forget your heart. Two new books show you how to use both.

#books-and-literature, #consumer-behavior, #content-type-service, #housel-morgan, #money-hacks-275-ways-to-decrease-spending-increase-savings-and-make-your-money-work-for-you-book, #personal-finances, #rowan-lisa-journalist, #savings, #stocks-and-bonds, #the-psychology-of-money-timeless-lessons-on-wealth-greed-and-happiness-book

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What a $300,000 College Might Cost a $200,000 Family

More need-based financial aid is available for the affluent than you might expect.

#college-board, #colleges-and-universities, #finances, #financial-aid-education, #personal-finances, #rice-university, #tuition

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Why These Millionaires Are Staying Put Despite a New Tax on Them

The reason has little to do with money. Family and community ties keep them from leaving their state.

#coronavirus-2019-ncov, #cuomo-andrew-m, #high-net-worth-individuals, #income, #personal-finances, #sanders-bernard, #states-us, #tax-credits-deductions-and-exemptions, #taxation, #tepper-david-a, #warren-elizabeth

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Apps Will Get You Paid Early, for a Price

Pay-advance apps have been downloaded millions of times, and more employers are offering them as benefits to workers who need cash.

#banking-and-financial-institutions, #consumer-protection, #department-of-financial-services-nys, #payday-loans, #personal-finances, #wages-and-salaries

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Pandemic Increases Importance of Filing Early for Financial Aid

The new FAFSA form, which is out on Thursday, requires last year’s tax data. But families that have lost income this year may need to take extra steps to qualify for help.

#colleges-and-universities, #content-type-service, #coronavirus-2019-ncov, #financial-aid-education, #institute-for-college-accesssuccess, #layoffs-and-job-reductions, #personal-finances, #scholarships-and-fellowships

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Tax Strategies to Embrace, or Avoid, Before the November Election

No one knows the outcome of the presidential race or how Congress could adjust the tax code next year. But there are changes taxpayers can make now, financial advisers say.

#federal-taxes-us, #high-net-worth-individuals, #income-tax, #individual-retirement-accounts, #personal-finances, #tax-credits-deductions-and-exemptions, #united-states-politics-and-government, #wills-and-estates

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$2.50 a Year in Interest? That’s What $5,000 in Savings Gets

With the Federal Reserve keeping rates low, home buyers are benefiting. But savers? Their average interest rate is just 0.05 percent.

#banking-and-financial-institutions, #certificates-of-deposit, #content-type-service, #coronavirus-2019-ncov, #federal-deposit-insurance-corp, #federal-reserve-system, #interest-rates, #personal-finances, #savings

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Can Digital Mortgage Platforms Reduce Discrimination in Lending?

Early indications are promising. But automated systems provide rich opportunities to perpetuate bias.

#banking-and-financial-institutions, #better-com, #black-people, #discrimination, #fair-isaac-corporation, #housing-and-urban-development-department, #income-inequality, #mortgages, #national-fair-housing-alliance, #personal-finances, #quicken-loans-inc, #race-and-ethnicity, #real-estate-and-housing-residential, #zestfinance

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Teen Stock Trading Seems Dangerous. It Doesn’t Have to Be.

Gunslinging young investors are making stock ownership seem like a terrible idea for novices. But owning equities, with limits and guardrails, can teach kids plenty.

#children-and-childhood, #content-type-service, #personal-finances, #robinhood-financial-llc, #stocks-and-bonds

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Who Gets Hurt When the World Stops Using Cash

Some people don’t have credit or debit cards, so a growing number of state and local governments are requiring businesses to accept cash.

#consumer-protection, #content-type-service, #coronavirus-2019-ncov, #coronavirus-risks-and-safety-concerns, #credit-cards, #debit-cards, #hygiene-and-cleanliness, #mobile-commerce-and-payments, #personal-finances, #shopping-and-retail, #us-dollar-currency

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Four Questions to Help Demystify Your Relationship With Money

An author seeks to prompt critical thinking about money and the status and power that are accrued from it. Several experts offered their own take.

#books-and-literature, #high-net-worth-individuals, #personal-finances, #risher-jennifer, #we-need-to-talk-a-memoir-about-wealth-book

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Looking to Buy a Used Car in the Pandemic? So Is Everyone Else

Eager to avoid public transit and Uber, and to save money, buyers are emptying dealerships.

#advertising-and-marketing, #automobiles, #consumer-behavior, #coronavirus-2019-ncov, #factories-and-manufacturing, #personal-finances, #prices-fares-fees-and-rates, #sports-utility-vehicles-and-light-trucks, #used-cars

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With Adult Children Home, Now’s the Time: Talk About Your Money

Riding out the pandemic with family presents the perfect chance to lay it all out: priorities, account balances, end-of-life directives.

#brookings-institution, #center-for-retirement-research-at-boston-college, #content-type-service, #coronavirus-2019-ncov, #elderly, #families-and-family-life, #living-wills-and-health-care-proxies, #personal-finances, #retirement, #wills-and-estates

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Tips on Spending the Money in College Savings Accounts

Funds in 529 plans grow tax free and can be withdrawn tax free if they’re spent on eligible education expenses. But there is some fine print.

#529-savings-plans, #colleges-and-universities, #content-type-service, #federal-taxes-us, #financial-aid-education, #internal-revenue-service, #personal-finances, #tax-credits-deductions-and-exemptions

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Trump Executive Order: The New Eviction Moratorium

A Trump administration order could allow many renters to avoid eviction through Dec. 31. We answer renters’ questions here.

#centers-for-disease-control-and-prevention, #content-type-service, #coronavirus-2019-ncov, #evictions, #landlords, #personal-finances, #real-estate-and-housing-residential, #renting-and-leasing-real-estate, #trump-donald-j, #united-states-politics-and-government

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Investing in Social Good Is Finally Becoming Profitable

Impact investments are outperforming traditional bets in the coronavirus crisis, which may be a turning point for wealthy investors looking to generate change.

#coronavirus-2019-ncov, #corporate-social-responsibility, #exchange-traded-funds, #high-net-worth-individuals, #personal-finances, #philanthropy

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Pictures of Themselves: The 2020 College Essays on Money

Each year, we ask high school seniors to send us college application essays that touch on money, work or social class. Here are four from this year’s incoming college freshmen.

#colleges-and-universities, #personal-finances

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Consumer Groups Take PayPal to Task Over Student Loan Credit Line

The payment platform, in partnership with Synchrony Bank, offers a way to pay tuition at for-profit schools — at terms that are being called “predatory.”

#consumer-protection, #content-type-service, #financial-aid-education, #for-profit-schools, #paypal, #paypal-credit, #personal-finances, #student-loans, #synchrony-bank

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In Pandemic, More Are Paying for Direct Access to Their Doctors

Concierge care has grown fast as patients no longer want to sit in a waiting room with strangers. But it comes at a high price.

#coronavirus-2019-ncov, #doctors, #high-net-worth-individuals, #luxury-goods-and-services, #personal-finances, #quarantine-life-and-culture, #telemedicine, #tests-medical

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Helping Girls Step Up to Entrepreneurship

After the pandemic forced parents to revise summer plans, interest surged in a virtual program called Girls With Impact, which aims to teach financial literacy.

#coronavirus-2019-ncov, #entrepreneurship, #financial-literacy, #girls-with-impact-nonprofit, #high-net-worth-individuals, #openshaw-jennifer, #parenting, #personal-finances, #women-and-girls

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Will Trump’s Executive Directives Provide Relief?

Because Congress controls federal spending, at least some of the measures will almost certainly be challenged in court. Or they may become moot if Congress reaches a deal.

#coronavirus-aid-relief-and-economic-security-act-2020, #cuomo-andrew-m, #evictions, #executive-orders-and-memorandums, #federal-emergency-management-agency, #federal-taxes-us, #internal-revenue-service, #layoffs-and-job-reductions, #mnuchin-steven-t, #payroll-tax, #pelosi-nancy, #personal-finances, #states-us, #student-loans, #treasury-department, #trump-donald-j, #unemployment-insurance, #united-states-politics-and-government, #wages-and-salaries

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Without $600 Weekly Benefit, Unemployed Face Bleak Choices

A federal supplement to jobless pay was a lifeline for millions and for the economy. Its cutoff, even if temporary, may have lasting consequences.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #evictions, #labor-and-jobs, #law-and-legislation, #layoffs-and-job-reductions, #personal-finances, #recession-and-depression, #shutdowns-institutional, #unemployment, #unemployment-insurance, #united-states-economy

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Interest Rates Are Low, but Loans Are Harder to Get. Here’s Why.

Banks have tightened standards, becoming more choosy about their borrowers and asking a lot of questions.

#automobile-financing, #bank-of-america-corporation, #banking-and-financial-institutions, #coronavirus-2019-ncov, #credit-and-debt, #ford-motor-co, #jpmorgan-chasecompany, #mortgages, #personal-finances, #wells-fargocompany

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4 Simple Ways to Take Control of Your Coronavirus Budget

The pandemic has changed the way we budget. Here’s some advice to get back on track.

#budgets-and-budgeting, #content-type-service, #coronavirus-2019-ncov, #personal-finances, #savings

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Can’t Afford a Birkin Bag or a Racehorse? You Can Invest in One

Interest in fractional investments has grown as the pandemic has forced more people to spend time at home, but advisers say the strategy has risks.

#birkin-bag, #coronavirus-2019-ncov, #handbags-and-purses, #high-net-worth-individuals, #horse-racing, #horses, #initial-public-offerings, #luxury-goods-and-services, #personal-finances, #stocks-and-bonds

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As $600 Unemployment Benefit Expires, Many Are in Jeopardy

A supplement to unemployment benefits is at an end, and Congress is deadlocked over new aid. For some, that means hunger, evictions or bankruptcies.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #income, #labor-and-jobs, #law-and-legislation, #personal-finances, #unemployment-insurance, #united-states-economy

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How to Talk to Your Friends About Money

New financial hardships may be hitting those closest to you. It doesn’t have to be awkward.

#content-type-service, #friendship, #labor-and-jobs, #layoffs-and-job-reductions, #lowry-erin, #personal-finances, #quarantine-life-and-culture

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Need Help With Your Estate Plan? Go With the Flow, Advisers Say

As older adults face mortality during the pandemic, lawyers and wealth advisers are using color-coded documents and flowcharts to help them understand estate planning.

#coronavirus-2019-ncov, #high-net-worth-individuals, #inheritance-and-estate-taxes, #personal-finances, #wills-and-estates

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End of $600 Unemployment Bonus Could Push Millions Past the Brink

A weekly supplement has helped the jobless to pay their bills and cushioned the economy. As it expires, Congress will determine what comes next.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #law-and-legislation, #personal-finances, #stimulus-economic, #unemployment, #unemployment-insurance, #united-states-economy

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Federal Aid Has So Far Averted Personal Bankruptcies, but Trouble Looms

Once federal benefits dry up, highly indebted consumers could be forced to file.

#banking-and-financial-institutions, #consumer-protection, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #debt-collection, #federal-reserve-bank-of-new-york, #labor-and-jobs, #personal-bankruptcies, #personal-finances, #unemployment, #united-states-economy

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New Tools for Home Buyers as the Pandemic Upends Real Estate

As homeowners rethink their surroundings and rush to relocate, companies are offering creative ways to help ease a fraught process.

#coronavirus-2019-ncov, #high-net-worth-individuals, #personal-finances, #real-estate-and-housing-residential

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Are You Eligible for Food Stamps Now? Maybe, but It’s Complex

States run SNAP, and many students and older people don’t realize they’re eligible. Without more federal support, millions more may qualify.

#agriculture-department, #coronavirus-2019-ncov, #feeding-america, #food, #food-banks-and-pantries, #food-insecurity, #food-stamps, #internal-essential, #personal-finances

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Financial Brokers Must Now Act in Your ‘Best Interest.’ What Does That Mean?

A new standard established by the Securities and Exchange Commission may sound better than it actually is, consumer advocates say.

#consumer-federation-of-america, #consumer-protection, #content-type-service, #financial-brokers, #labor-department-us, #personal-finances, #regulation-and-deregulation-of-industry, #securities-and-exchange-commission

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Filing Your Taxes Deadline: Questions and Answers for July 15th

“It’s just like April 15, but in July.” Here’s what you need to know. And if you’re owed a refund, be prepared to wait: The I.R.S. has a huge backlog.

#aarp, #american-institute-of-certified-public-accountants, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #income-tax, #internal-revenue-service, #personal-finances, #rebates-and-refunds, #shutdowns-institutional, #tax-foundation, #tax-preparers-and-preparation

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At a Time of Financial Stress, 401(k) Fees Matter More Than Ever

These expenses always eat away at savings balances, but as the pandemic drags on, savers should be especially aware of how to keep them down.

#401k-403b-and-457-plans, #calculators, #content-type-service, #mutual-funds, #pensions-and-retirement-plans, #personal-finances, #prices-fares-fees-and-rates, #retirement, #stocks-and-bonds

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The Fate of Trump’s Financial Records

In a stunning defeat for the president, the Supreme Court ruled against his claims that he was immune to an examination of his finances.

#federal-taxes-us, #finances, #house-of-representatives, #personal-finances, #property-taxes, #supreme-court-us, #trump-donald-j, #united-states-politics-and-government

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Stocks Generate Big Gains and Bigger Questions

A powerful rally during drastically deteriorating economic conditions has left the market richly valued and facing great uncertainty.

#banking-and-financial-institutions, #brazil, #citigroup-inc, #cnbc, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #coronavirus-reopenings, #credit-and-debt, #europe, #federal-reserve-system, #house-of-representatives, #inflation-economics, #interest-rates, #japan, #latin-america, #morningstar-inc, #personal-finances, #prices-fares-fees-and-rates, #quarantines, #recession-and-depression, #second-quarter-2020, #senate, #shutdowns-institutional, #standardpoors-500-stock-index, #stocks-and-bonds, #unemployment, #united-states-economy, #united-states-politics-and-government, #university-of-california-los-angeles

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