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January 20, 2021

personal finance

IRS may have paid $57 million in error for Trump tax break, report finds

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CNBC – For more and to sign up click here Stefani Reynolds/Bloomberg via Getty Images ‘Potentially erroneous’ QBI deductions The IRS allowed business owners to claim $57 million in “potentially erroneous” deductions on 12,980 tax returns filed last year, according to a report publicly released Tuesday by the Treasury Inspector......

Take these steps to shake off anxiety and take control of your financial life

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CNBC – For more and to sign up click here Chad Springer | Image Source | Getty Images 1. Recognize you are anxious or stressed Pay attention to your body and your emotions. Are you breathing faster? Are you more rushed? Once you recognize you are anxious or stressed, it......

Free college could become a reality under a Biden administration

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CNBC – For more and to sign up click here Once president-elect Joe Biden is inaugurated on Jan. 20, free college could finally become a reality. “With the makeup of this Congress, I am very optimistic that this will be on the agenda,” said Morley Winograd, president and CEO of the Campaign for Free College......

Why ultra-low cost carrier Spirit Airlines is falling behind

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CNBC – For more and to sign up click here Spirit Airlines, the no-frills carrier known for bright yellow planes, brash style and low fares, has helped revolutionize the way we pay for travel. To offset its bare-bones fares the carrier charges for everything from carry-on bags to bottles of......

Political chaos won’t make a dent in the market. Here’s why

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CNBC – For more and to sign up click here The Capitol is seen behind a fence and a sign, in Washington, U.S., January 15, 2021. Joshua Roberts | Reuters History tends to repeat itself, for better or worse. On Wednesday, January 6th, 2021, the U.S Capitol Building was invaded......

Mega Millions jackpot skyrockets to $850 million. Do this first if you win

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CNBC – For more and to sign up click here Angela Weiss | AFP | Getty Images Yet again, the Mega Millions jackpot has catapulted higher. The top prize is now a staggering $850 million — the third-largest in lottery history — following no ticket matching all numbers drawn Friday......

Biden defends why stimulus checks should go to employed Americans

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CNBC – For more and to sign up click here US President-elect Joe Biden delivers remarks on the public health and economic crises at The Queen theater in Wilmington, Delaware on January 14, 2021. Jim Watson | AFP | Getty Images President-elect Joe Biden made a case for sending stimulus......

Biden pledges to help fix the child-care crisis in America. Here is his plan

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CNBC – For more and to sign up click here FatCamera | E+ | Getty Images President-elect Joe Biden has a plan to help fix what he calls the immediate and acute child-care crisis in America. He unveiled his proposal on Thursday, as part of his sweeping $1.9 trillion coronavirus......

Here’s how you can save $1 million while making $15 per hour, broken down by age

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CNBC – For more and to sign up click here President-elect Joe Biden wants to raise the federal minimum wage to $15 per hour. The potential boost would increase the paychecks of around 27 million Americans making it a perfect time to start thinking about the future. If you are......

Biden calls for $30 billion more in rental assistance and extending eviction ban

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CNBC – For more and to sign up click here US President-elect Joe Biden delivers remarks on the public health and economic crises at The Queen theater in Wilmington, Delaware on January 14, 2021. Jim Watson | AFP | Getty Images President-elect Joe Biden called on Congress to pass a......

Biden unemployment plan: $400 weekly boost, extra benefits for six months

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CNBC – For more and to sign up click here Chip Somodevilla | Getty Images News | Getty Images President-elect Joe Biden’s pandemic relief package would extend income support for millions of unemployed workers through September 2021 and increase jobless benefits by $400 a week, according to a speech outlining......

Biden wants to increase stimulus checks to $2,000. Here’s what we know about those payments

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CNBC – For more and to sign up click here U.S. President-elect Joe Biden at a drive-in rally in Atlanta on Jan. 4, 2021. Jonathan Ernst | Reuters The push for $2,000 stimulus checks just got stronger. President-elect Joe Biden unveiled his stimulus plan in a speech on Thursday night......

$1,400 checks, enhanced unemployment: Here’s what’s included in Biden’s stimulus plan

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CNBC – For more and to sign up click here When President-elect Joe Biden takes office next week, he plans to ramp up federal spending on several fronts, including financial aid for struggling families, as well as vaccine production and distribution, according to the emergency coronavirus relief plan, called the......

The Social Security retirement age could change. What that could mean for benefits

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CNBC – For more and to sign up click here zimmytws | iStock | Getty Images Many retirees count down the days until they are eligible for Social Security benefits. But that age could change as lawmakers look to improve the program’s financial outlook. Social Security’s trust funds are running......

Many workers will get 4 extra weeks of unemployment benefits. Here’s how

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CNBC – For more and to sign up click here Win McNamee | Getty Images News | Getty Images The recent Covid relief package offers 11 extra weeks of jobless benefits to workers. Many, but not all, will be eligible for four more, for a total of 15 weeks. However,......

Opponents to $2,000 stimulus checks say they are not targeted. How that could be fixed

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CNBC – For more and to sign up click here Hundreds of jobless people wait outside the Kentucky Career Center for help with their unemployment claims on June 19 in Frankfort, Kentucky. John Sommers II/Getty Images As President-elect Joe Biden prepares to take office on Jan. 20, one of his......

A top Democrat backs $600 unemployment boost. Studies show increase didn’t discourage people from working

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CNBC – For more and to sign up click here Sen. Ron Wyden, D-OR Sarah Silbiger | Getty Images News | Getty Images “My starting point here is going to be my legislation that would reinstate the full $600 weekly and tie additional weeks of benefits and the program for......

How this couple paid off their $195,000 mortgage in under 4 years

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Taking 30 years to pay off your home is a fairly standard practice for many Americans. And it’s easy to see why. The average homeowner in the U.S. owes more than $215,000 on their mortgage, according to data from Experian. Andy and Nicole Hill bought their dream home just outside......

Cellphone service is cheaper, but bills haven’t dropped — taxes are one reason why

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CNBC – For more and to sign up click here Average monthly wireless service bills have dropped 26% since 2008, according to the Tax Foundation, but wireless taxes have increased 50% and that’s why customers aren’t seeing savings. Experts say taxes, fees and surcharges make up 22.6% of the average......

Here are 2 strategies you should use to invest your $600 stimulus checks

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CNBC – For more and to sign up click here Americans have begun receiving their $600 stimulus checks. If you already have healthy savings, the cash can be a useful way to help you get started in hands-on investing, according to financial advisor Winnie Sun. A safer option would be......

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