The U.S. Supreme Court is always busy making decisions that affect many people. Rulings made in recent days will impact a lot more with regard to their personal finances. Three of these decisions could affect many more people, particularly those with bank accounts, past-due mortgage payments, and student loans. Permission Is Not Needed to Look…
How Recent Supreme Court Rulings Can Affect Your Personal Finances
July 24, 2023
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How Recent Supreme Court Rulings Can Affect Your Pocket
July 24, 2023
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BrightbudgetingDebt ManagementEstatehome equity theftIRSpersonal financePolicies & Impactsstudent loanSupreme CourttaxUSWealth Management
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The U.S. Supreme Court is always busy making decisions that affect many people. Rulings made in recent days will impact a lot more with regard to their personal finances. Three of these decisions could affect many more people, particularly those with bank accounts, past-due mortgage payments, and student loans. Permission Is Not Needed to Look…
Can a Spendthrift Trust Help Control the Distribution of Your Assets?
Passing an inheritance to your children often raises the question of how the beneficiaries would use it after they receive it. Most often, you already know the answer—it probably would not last very long. You strongly suspect they would not value it like they should and would spend it as if money grew on trees….
Medicare Options for Those Working Past 65
July 20, 2023
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Many baby boomers are not slowing down. In 2021, 25.8 percent of adults 65 and older worked. That compares to 30.5 percent of teenagers holding a job. Many seniors postpone Social Security when working, but what about Medicare? The regulations say you must sign up for Medicare when you turn 65. But is this always…
What You Need to Know About Landslide Insurance
The fires and rains in California created the perfect scenario for mudslides and landslides. But mudslides and landslides can occur in all 50 states. They are specifically prominent on the western coastline, the Rocky Mountains, and the Appalachian Mountains. If a mudslide or landslide destroys your home, how do you recover? Does your homeowner’s insurance…
Why You Should Open a Roth IRA for Your Child
July 18, 2023
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You can give your child a head start in life by opening an individual retirement account (IRA) for them. Allowing it to build interest for decades enables it to grow much more than if you wait until the child is older. Custodial Roth IRAs have some rules that must be followed, but it has many…
Donating Through a Donor-Advised Fund or Private Foundation: Which Is Better?
July 15, 2023
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There are many places to make tax-deductible charitable donations, but getting one that aligns with your intentions is not as easy. When choosing charities to donate to, make sure that the donor-advised fund or private foundation can give to the charities of your choice. If you use a religious group or some community group, they…
Protecting Assets From a Nursing Home
July 14, 2023
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Most people work their entire adult lives saving for retirement. Between stocks, annuities, and savings, they think they’re covered. Then a catastrophic illness or accident happens, and they’re forced to enter long-term care. And the average cost of a semi-private room is $9,167 per month. This can wipe out a savings quickly. Although this scenario…
Will the IRS Negotiate on Back Taxes?
July 13, 2023
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You’ve probably seen those TV ads with companies claiming they can settle your tax debt for pennies on the dollar. The ad shows happy people saying they owed thousands of dollars but only had to pay hundreds. These companies claim to have great negotiating skills. But will the Internal Revenue Service (IRS) really come down…
How Bonuses Are Taxed and Why
A bonus is a type of payment on top of your regular wages. And you probably wait all year to receive yours. But they’re still income and subject to taxes. You’ll note this when you see that your bonus is much smaller than you thought. There are two ways to tax your bonus. So, what…
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