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Gifts to charity are one of the best tax-saving opportunities available. Not only does the charity benefit, but taxpayers enjoy tax savings by deducting part or all of their contributions on their tax returns. For 2021, special rules extend and expand the generous tax treatment for qualifying cash contributions previously allowed nonitemizers in 2020. Nonitemizers

What Is a Limited Purpose Flexible Spending Account (LPFSA)? A limited purpose flexible spending account (LPFSA) is a special type of flexible spending account (FSA) that may be available to consumers enrolled in a health savings account (HSA). An HSA is a type of savings account that lets consumers set aside money on a pre-tax

A KKR logo is displayed on the floor of the New York Stock Exchange (NYSE), August 23, 2018. Brendan McDermid | Reuters Trading stocks in the capital markets in 2021 has not been an endeavor for the faint of heart.   The year could be characterized by exciting events like a powerful influx of retail

One of the biggest financial challenges you’ll face in life is saving for retirement. There are various schools of thought on how much money you’ll need in order to live comfortably after you stop working. No matter what that figure is, it’s essential to be proactive about saving if you want to reach your retirement

For many people, marriage brings a vast swath of benefits, including financial ones. But if you have a significant other who believes that getting married is more of a financial liability than a benefit, don’t be surprised because that mindset is more common than you’d think. Many people, largely confused by the long-held belief that

James “Jimmy” Cayne, the swaggering bridge-champion Wall Street CEO who led investment bank Bear Stearns during its rise and ultimate fall that would serve as a touchstone for the financial crisis of 2008, has died at age 87. Cayne died Tuesday days after suffering a stroke, according to a report in Bloomberg. One of the

Established in 1789 by an act of Congress, the United States Department of the Treasury is responsible for federal finances. The Treasury Department manages the U.S. government’s expenditures and its revenue-raising functions. Here we examine the Treasury’s responsibilities, particularly the reasons for its borrowing, and the means by which it takes on debt.1 The Treasury’s Responsibilities The U.S. Treasury is

A new exchange is trying to make it easier to hedge against events in politics and other areas. Kalshi, a firm founded by Tarek Mansour and Luana Lopes Lara, was designated as a contract market by the Commodity Futures Trading Commission in late 2020 and officially launched in June. The exchanges offers binary, yes-or-no contracts

Traders work on the floor of the New York Stock Exchange (NYSE) on December 02, 2021 in New York City. Spencer Platt | Getty Images It’s time for my best guesses for next year: 2022 is a year to go big and bold, because a boom is coming. Not a boom in everything, but certainly a

Retirement planning involves identifying expenses, sources of income, and saving enough money to cover a certain percentage of your living expenses. However, there are a few expenses that might not be on your radar. Living expenses might be lower in retirement versus working years, while other expenses may stay the same. However, some costs might

Cargo containers sit stacked on a ship on November 22, 2021 in Bayonne, New Jersey. Spencer Platt | Getty Images Morgan Stanley said most acute supply chain disruptions are already easing and will be more fully resolved within the first half of 2022.  That’s the base case the investment bank laid out in a recent

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Dec. 13, 2021. Michael Nagle | Bloomberg | Getty Images Farr, Miller & Washington is a “buy-to-hold” investment manager, which means we make each investment with the intent to hold the position for a period of

A college degree is almost a necessity for most working Americans aiming for a comfortable lifestyle. In fact, a bachelor’s degree is worth close to $3 million in wages over a lifetime, according to a study by the Georgetown University Center on Education and the Workforce. The question is how to get one without being

In this article GDDY Spencer Platt | Getty Images Activist investor Starboard Value has taken a 6.5% stake in GoDaddy, sparking a rally in shares of the web services company. The hedge fund bought more than 10,000 shares of GoDaddy, worth about $800 million, according to a regulatory filing. The new stake became the biggest

Today, they offer some of the best tax advantages of any retirement account. The fear exists, however, that Roth IRA withdrawals might somehow be taxed in the future. The U.S. government’s budget deficit problems began stoking the flames back in the early 2010s. More recently, the tax reform legislation of 2018, which decimated many itemized

What Is a 529 Savings Plan? Families need to save as much as possible, as early as possible to get ahead of rising education costs. According to a research report from CollegeBoard.org, the average cost of attending a public four-year college, including tuition and fees, in the 2021 to 2022 school year is $10,740 for an

If you’ve been diligently saving for retirement through your employer’s 401(k) plan, you may be able to convert those savings into a Roth 401(k) and gain some added tax advantages. Key Takeaways Many companies have added a Roth option to their 401(k) plans. Traditional 401(k)s and Roth 401(k)s are taxed differently; traditional ones use pre-tax

The United States began its history indebted, owing more than $75 million after the end of the Revolutionary War in 1783. However, the first actual fiscal deficit in the federal ledger was not run until the end of that decade.  A History of Budget Deficits In September 1789, Alexander Hamilton, then-Secretary of the Treasury, negotiated

In this article NKLA San Pedro, CA – December 17: The first two zero-emissions electric trucks, from an order of 100 vehicles, delivered from the Nikola Corporation to Total Transportation Services at the Port of Los Angeles in San Pedro on Friday, December 17, 2021. Brittany Murray | MediaNews Group | Getty Images Nikola shares jumped

In this article AMC GME DWAC HWIN Shoppers wait for a GameStop store to open on at the Tysons Corner Center, in Tysons, Virginia, November 27, 2020. Hannah McKay | Reuters An army of Reddit traders, triple-digit stock pops and a $100 million deli: In a wild year of trading, the unexpected became the norm