Author: edward
2024 Year-End Tax Tips
Here are some things to consider as you weigh potential tax moves between now and the end of the year. IMPORTANT DISCLOSURESTo the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be […]
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Zombie Debt: Is It Coming for You?
Zombie debt is old and often expired debt that could be revived after being purchased by a collection agency for pennies on the dollar — or less. These “debt scavengers” have plenty of incentive to cast a wide net and take aggressive steps to collect even a small portion of the original debt. If you […]
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Medicare Open Enrollment Kicks Off
Medicare’s Open Enrollment period began on October 15 and runs through December 7. If you are covered by Medicare, it’s time to compare your current coverage with other available options. Medicare plans can change every year, and you may want to switch to a health or prescription drug plan that better suits your needs or […]
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The Fed Finally Cut Interest Rates. What Could It Mean for Your Finances?
On September 18, 2024, the Federal Reserve’s Federal Open Market Committee (FOMC) lowered the benchmark federal funds rate one-half percentage point to a range of 4.75% to 5.0%. It was the first rate cut since the Fed raised the funds rate aggressively from March 2022 to July 2023 to help control inflation. The long-awaited policy […]
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Federal Appeals Court Blocks SAVE Student LoanRepayment Plan
On August 9, 2024, the U.S. Court of Appeals for the 8th Circuit officially blocked the SAVE student loan repayment plan in its entirety, saying the injunction would remain in place “until further order of this court or the Supreme Court of the United States.” The ruling replaced a temporary order issued by the same […]
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Tax Treatment of Work-Life Referral Services
The IRS has provided informal guidance on the federal income tax treatment to an employee of certain work-life referral services offered as an employee benefit. What is a work-life referral program? Employers often provide eligible employees with a work-life referral service as an employee benefit. Work-life referral services assist employees with identifying, contacting, and negotiating […]
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Chaos in the Sky: New Consumer Protections for WearyAirline Passengers
Banks, hospitals, retailers, and airlines are still dealing with the fallout from the massive CrowdStrike IT outage in July. The tech meltdown impacted businesses across the globe, and airlines were hit particularly hard. This was not good news for the airline industry, which just last year had the highest number of flight delays ever recorded. […]
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After a Massive Breach, Is Your Data in Danger?
National Public Data, a consumer data broker, confirmed last week that a hacker had targeted the company in December 2023, “with potential leaks of certain data in April 2024 and summer 2024.” Other reports indicate that this leaked data had been found on the dark web and could include the names, addresses, phone numbers, and […]
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2025 Key Numbers for Health Savings Accounts
The IRS recently released the 2025 contribution limits for health savings accounts (HSAs) and the 2025 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs). What is an HSA?An HSA is a tax-advantaged account that enables you to save money to cover healthcare and medical costs that your insurance doesn’t pay. The funds […]
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Interest Rates on Federal Student Loans Jump to Decade Highs for 2024-2025 Year
Every May, interest rates on federal student loans are reset for the upcoming school year. The rates are calculated by combining the 10-year U.S. Treasury note yield with an extra fixed amount set by Congress. Based on this calculation, interest rates on federal student loans are set to increase for the 2024-2025 school year by […]
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