President Joe Biden delivers remarks on the May jobs report in Rehoboth Beach, Delaware. Kevin Lamarque | Reuters President Joe Biden wants to raise taxes on inheritances to help fund his lofty infrastructure plans. The proposals call for taxing capital gains on inherited property at death, treating the transfer like a sale. Heirs may exclude
Personal finance
d3sign | Moment | Getty Images Individual investors glued to social media helped push the shares of one new company name — Clover Health — up more than 100% on Tuesday. Yet when it comes to the broader markets, the question on many people’s lips now is, “What’s the next big story?” according to JJ
Martin Dimitrov | E+ | Getty Images It’s tempting to go on a post-pandemic shopping spree. After a year of hunkering down, skipping vacations and restaurant dining, many Americans can’t wait to start spending again. Just over 50% of U.S. consumers plan to spend extra money splurging or treating themselves, according to a May survey
zimmytws | iStock | Getty Images President Joe Biden’s 2022 budget could give the Social Security Administration a $1.3 billion — or 9.7% — boost in funding. In total, the president is calling for $14.2 billion for the agency for fiscal year 2022. The proposed increase comes as the Social Security Administration expects to pay
Uwe Krejci | DigitalVision | Getty Images The IRS on Monday announced it has started sending letters to more than 36 million American families who may be eligible for the expanded child tax credit and monthly payments set to begin in July. The maximum enhanced credit, which was established by the American Rescue Plan in
Older couple meeting with a financial advisor Getty Images Inflation is a top concern as investors fret about the rising cost of groceries, housing, gasoline and other living expenses. The May Consumer Price Index, a key inflation gauge, will be revealed on Thursday and may be higher after an alarming spike in April. “Clients are
When the market was crashing in March 2020, financial advisor Ivory Johnson, founder of Delancey Wealth Management, decided it was time to introduce cryptocurrencies to his clients. “I did it because I saw how active the Federal Reserve was and how much they were diluting the dollar,” which would be incredibly inflationary, Johnson said. A
The Money Plot by Frederick Kaufman Source: Other Press What is money? Why do we need it? These are some of the big questions writer Frederick Kaufman explores in his book “The Money Plot: A History of Currency’s Power to Enchant, Control, and Manipulate,” which was published in the thick of the pandemic. Kaufman, a
Chef Matt Bolus Source: Kelli LaMatia Like many restaurant owners, Matt Bolus, executive chef of The 404 Kitchen in Nashville, had to get creative when the city shut down due to Covid-19 mandates last spring. He kept some of his core staff busy by cooking meals for the local food bank, private dinners and other
Thomas Trutschel | Photothek | Getty Images Inflation is here and higher interest rates may follow — much to the delight of savers who’ve endured rock-bottom returns on cash and other safe investments since the Great Recession. But inflation is a double-edged sword. Higher prices that consumers pay for goods and services may completely gobble
Geber86 | E+ | Getty Images After Janell Ivy lost her job at a daycare center because of the pandemic, she fell behind on her $890 rent. The single mother feared that she and her four children, all under the age of 7, would be evicted from their apartment in Houston. She packed up her
Lee Jimenez, a teacher at Indian Hill Elementary School in Cincinnati, Ohio, discusses credit cards and methods of payments with his 3rd grade class using online financial education curriculum SmartPath. SMARTPATH There’s been an extra push to get personal finance education into high schools across the country this year, following the coronavirus pandemic. So far
MoMo Productions | DigitalVision | Getty Images More than two dozen states are opting out of federal unemployment programs early, meaning nearly 4 million Americans will see their benefits reduced or cut entirely. But monthly payments of the child tax credit, slated to start July 15, may offer a financial lifeline to parents who lose
Marcos Elihu Castillo Ramirez | iStock | Getty Images Medicare may not be top of mind if you’re nearing the eligibility age of 65 and already have health insurance through your employer. However, it probably deserves some attention. While not everyone must sign up, many are required to enroll unless they want to face life-lasting
In this article SPCX Morsa Images | E+ | Getty Images Early in 2021, SPACs, or special purpose acquisition companies, raised record amounts of money to take private firms public. The frenzy, and recent slump of SPAC shares, could lead to riskier deals in the coming months and years, meaning those looking to invest in
In this article GME AMC BB-CA Mario Tama | Getty Images AMC Entertainment‘s stock continued its wild ride on Wednesday, with the price per share rising more than 100% and prompting a halt to its trading several times. AMC is one of several so-called meme stocks that have seen a surge in interest from individual
In this article AMZN It’s typically one of the most anticipated sales of the year. In 2021, pent-up consumer demand and a surge in new online shoppers could make Amazon Prime Day even bigger. This year’s Amazon Prime Day will include discounts on more than 2 million items for Prime members — about twice as
What will it take to convince people to get vaccinated against Covid? From free doughnuts to million-dollar payouts, public and private groups are trying it all. Back in March, Krispy Kreme was one of the first businesses to roll out a nationwide Covid vaccine incentive, offering a free glazed doughnut to any adult with a vaccination
martin-dm | E+ | Getty Images As the world opens following Covid restrictions, people are also reopening their wallets. For many, it’s exciting to be getting back to some sense of normal. It could also wreak havoc on personal finances, especially if people aren’t careful. “It’s critically important to revisit your budget and how you
Getty Images The dramatic rise of cryptocurrency has led to some spouses hiding those digital assets during divorce settlements, and tracking down the funds isn’t easy, experts say. More than 20 million Americans may own cryptocurrency, industry groups say, and digital currency market values grew to a record $2 trillion in April. These spikes may