Financial related news.
You work hard, so why not take some credit for it? The Earned Income Tax Credit is one of the most overlooked tax credits around, according to many experts. But it is also one of the more generous. The IRS estimates that 26 million people received about $65.6 billion under this tax credit last year. [...]
BUFFALO, N.Y. (AP) — They don’t mean to sound ungrateful, but ... New York public college students who would stand to gain from the nation’s most ambitious free-tuition proposal are quick to point out a sobering reality from their own meager finances: Free tuition doesn’t mean free college. Take Brooklyn College senior Florencia Salinas, who [...]
NEW YORK — President Donald Trump has wasted little time in beginning a push to reverse the stricter banking regulations enacted after the 2008 financial crisis. Trump has branded the Dodd-Frank Act “a disaster” — a regulatory overreach that slowed the economy and stifled lending to consumers and businesses. Dodd-Frank did impose tighter curbs on [...]
LANSING, Mich. — Struggling under the weight of pension and health care obligations, Michigan lawmakers appear ready to take another whack at public employee benefits — a move that reflects renewed determination to shift workers to 401(k)-style retirement systems, even if it happens in baby steps. Other states have made more modest changes, but the [...]
NEW YORK (AP) — Justin Bainbridge is 27 and works two jobs, but he wasn’t allowed to start saving money for his future until a few months ago. Bainbridge has Down syndrome, and like other people with disabilities who receive government benefits, he can’t have more than $2,000 in savings. If he does, he would [...]
Ashley C. Ford felt driven to act by a sad fact of life in the nation’s school cafeterias: Kids with unpaid lunch accounts are often embarrassed with a substitute meal of a cold cheese sandwich and a carton of milk. Ford, a New York City writer, appealed to her 66,000 Twitter followers with a solution. [...]
BOSTON — Hundreds of U.S. colleges lost money on their investments last year, continuing a downward slide that threatens to put a pinch on budgets, according to a new study. Among 800 schools included in the study, the average endowment shrank by almost 2 percent, the worst performance since the economic recession in 2009. The [...]
WASHINGTON — While Wall Street celebrates yet another stock market record — surpassing 20,000 on the Dow Jones industrial average — many Americans have little reason to cheer. Despite the spread of 401(k) retirement plans, the wealthiest 10 percent of households own roughly 80 percent of stock market wealth. The Dow’s 23 percent surge over [...]
WASHINGTON — Donald Trump’s acknowledgment last fall that he had not paid federal income tax in years left some questioning why they should have to pay taxes. “I think you pay taxes because it’s the right thing to do,” National Taxpayer Advocate Nina Olson says. But that doesn’t mean you don’t take tax benefits to [...]
NEW YORK (AP) — The idea of paying taxes late and incurring IRS interest charges elicits a stern “Don’t do that!” from many tax professionals. Yet some business owners decide that it’s cheaper and more convenient than taking out a loan. So those with short-term cash management issues or personal expenditures like college tuition may [...]