A trader wears a Trump hat as he works on the floor of the New York Stock Exchange during the opening bell on Nov. 6, 2024.Timothy A. Clary | Afp | Getty ImagesOn Nov. 5, the presidential election handed a decisive victory for President-elect Donald Trump. In the days...
Hispanolistic | E+ | Getty ImagesCrypto investors could face higher taxes amid the surging price of bitcoin. But if you're in the 0% capital gains bracket, you can reduce future taxes with a lesser-known strategy, experts say. The tactic, known as tax-gain harvesting, is selling profitable crypto in a lower-income year....
Amid the latest bitcoin rally, crypto investors face a looming deadline that could impact future taxes — and they must take action before Jan. 1, 2025.The U.S. Department of the Treasury and IRS in July unveiled final tax reporting rules for digital asset brokers, with phased-in guidelines.Starting in 2026, brokers will...
Mixetto | E+ | Getty ImagesThe share of Americans with credit-card debt in retirement has jumped considerably — a worrisome financial trend, especially for those with little wiggle room in their budgets, experts said.About 68% of retirees had outstanding credit-card debt in 2024, up "substantially" from 40% in 2022...
Baona | E+ | Getty ImagesMore from FA Playbook:Here's a look at other stories impacting the financial advisor business.Starting in 2025, investors age 60 to 63 can make catch-up contributions of up to $11,250 on top of the $23,500 deferral limit. Combined, these workers can defer a total of...
A version of this article first appeared in CNBC's Money 101 newsletter with Sharon Epperson, an eight-week series to improve your financial wellness with monthly updates. Sign up to receive these editions, straight to your inbox. Stocks soared in the days after President-elect Donald Trump won the 2024 election, and...
Trump supporters take photographs near the U.S. Capitol building as the sun sets the day U.S. President Elect Donald Trump was declared the winner of the presidential election in Washington, U.S., November 6, 2024. Leah Millis | ReutersNow that Donald Trump has been elected president, many individual investors are wondering...
Bernd Vogel | Stone | Getty ImagesBrad Klontz was drawn to financial psychology after the tech bubble burst in the early 2000s.Klontz had tried his hand at stock trading after seeing a friend earn more than $100,000 in one year. But he felt immense shame after the market crashed...
dowell | Moment | Getty ImagesBefore the election, some advisors increased Roth individual retirement account conversions for clients amid the threat of higher taxes after 2025.Now, tax hikes are less likely under President-elect Donald Trump. However, demand for Roth conversions will continue as investors seek long-term tax planning strategies,...
Nopphon Pattanasri | Istock | Getty ImagesInvestors have been able to get the best returns on cash, as the Federal Reserve raised interest rates to bring down the pace of inflation.Now that the central bank is lowering rates — with a new quarter point rate cut announced by the...