IRS Secretly Altered Regulations for the Inheritance of Your Children
Hey there! Just recently, the IRS came out with this thing called Revenue Ruling 2023-2. And let me tell you, it made quite a splash in the world of estate planning, especially when it comes to that nifty thing called an irrevocable trust. You see, over the past ten years Continue Reading
Maximizing Returns on Savings Bonds
Due to the increasing inflation rates, Series I savings bonds have become incredibly popular amongst investors. From May 2022 to October 2022, these bonds earned an impressive composite rate of 9.62% within the first six months. This resulted in investors pouring over $1 billion into I bonds in October alone. Continue Reading
States Ranked by Student Loan Debt Burdens: The Highest and Lowest
Earlier this summer, the Supreme Court’s decision to strike down President Biden’s plan for student loan forgiveness was an unpleasant surprise for over 40 million borrowers. As a result, these borrowers are now faced with the reality of having to resume their loan payments from October 2023 onwards. A recent Continue Reading
FTC Warns Consumers About Latest Zelle Scam
In the wake of yet another Zelle scam that targeted a major bank last week, the Federal Trade Commission (FTC) has issued a warning to the public, cautioning them about scammers who impersonate well-known companies, specifically on job platforms like LinkedIn. According to the FTC, these scammers pose as recruiters Continue Reading
Understanding the Concept of an Earnest Money Deposit
Are you gearing up to go house hunting? One of the key steps in buying a home is making what’s called an earnest money deposit, or “EMD.” It’s basically a way to show the seller that you’re serious about purchasing their property. EMD is like putting down a small down Continue Reading
Frequent Categories of Auto Insurance
When it comes to car insurance, there are various types that can assist you in paying for unforeseen costs like medical bills and vehicle repairs if you’re involved in an accident, suffer from theft, or experience damage to your car. The extent of coverage you receive is determined by the Continue Reading
Despite an Overall Increase, Consumers Successfully Eliminated $170 Billion in Debt During Q2
According to the New York Federal Reserve, household debt in the second quarter of 2023 reached $17.06 trillion, showing an increase of $16 billion compared to the previous quarter. However, there were efforts made by many U.S. households to reduce debt, with nearly $170 billion paid off in the quarter. Continue Reading
What is the Ideal Number of Credit Cards to Have?
Selecting the perfect rewards credit card can feel like quite a dilemma when there are so many options available. But fear not, my friend, because you can actually have more than one! The burning question now becomes: How many credit cards should a wise individual possess? Interestingly enough, Experian’s research Continue Reading
FCC Invites Feedback on Smart Device Cybersecurity Labeling Proposal
The Federal Communications Commission (FCC) is inviting the public to share their thoughts on a proposal to establish a voluntary program for labeling cybersecurity on “Smart” devices. This initiative aims to assist consumers in identifying products that meet recognized security and privacy standards. Under this program, products that adhere to Continue Reading
2023 Maryland Tax-Free Week Arrives
From August 13 to August 19, 2023, Maryland will be having its tax-free week, a whole seven days where shoppers can enjoy a break from the state’s 6% sales tax on eligible purchases. This means that for every $100 spent, customers will save $6. It’s worth noting that the tax Continue Reading