Beginning January 2025, individuals relying on Supplemental Security Income (SSI) will see a notable increase in their monthly payments, which will now total $967. This adjustment marks a significant step in the ongoing effort to align federal assistance with rising living costs. The increase, set by the Social Security Administration (SSA), reflects the annual cost-of-living […]

Nearly 3.2 million retired Americans are now eligible to receive **retroactive payments** totaling thousands of dollars after the recent repeal of the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). These longstanding provisions, which historically reduced Social Security benefits for individuals with government pensions, have been officially repealed as part of recent legislative reforms […]

Social Security recipients are poised to see their monthly benefits increase by at least $49 starting in 2025, marking the largest boost in decades. This adjustment stems from the annual cost-of-living adjustment (COLA) calculation, which considers rising inflation and consumer prices. The Social Security Administration (SSA) announced the preliminary COLA increase following recent inflation data, […]

Starting with the 2022 tax year, many self-employed individuals and gig workers are observing new reporting thresholds that impact how their income is documented to the IRS. The Internal Revenue Service (IRS) has clarified that a 1099-K form, which reports payments received through third-party networks like PayPal, Venmo, and popular gig economy platforms, will only […]

Homeowners and residential property owners are facing a significant shift in federal policy as the expiration of green energy credits approaches at the end of 2025. These incentives, which have historically lowered the upfront costs of installing solar panels, energy-efficient windows, and other renewable technologies, are set to phase out, potentially impacting millions of Americans […]

Amid ongoing debates in economic circles, a figure as monumental as $17 trillion has become a focal point for analysts and policymakers alike. The question surrounding the true scale of former President Donald Trump’s global investment footprint has ignited fierce disagreements among economists, with some asserting that the figure is overstated while others defend its […]

Americans are feeling the squeeze as recent economic indicators reveal a surge in consumer costs, with the Core Consumer Price Index (CPI) reaching 3.1% in the latest report. This uptick erodes the anticipated benefits of the recent $49 monthly increase in Social Security payments for millions of retirees. While the Social Security Administration (SSA) had […]

Amid mounting scrutiny from policymakers and economic analysts, a proposed legislative package dubbed the “One Big Beautiful Bill” has raised alarms over its potential to significantly expand the federal deficit. Preliminary estimates suggest that if enacted in its current form, the bill could increase the national debt by approximately three point four trillion dollars over […]

Starting in the 2025 tax year, U.S. workers who earn overtime pay may have new opportunities to maximize their earnings through strategic tax planning. The IRS has introduced updated guidelines allowing eligible taxpayers to claim deductions on up to $25,000 of overtime wages, a significant increase from previous years. This change aims to provide relief […]

Low-income families across the United States are facing an average income reduction of approximately $1,650 as a result of recent policy modifications enacted by federal and state authorities. These adjustments, impacting various social safety net programs and tax credits, are expected to reshape the financial landscape for millions relying on government assistance. Critics argue that […]