Money, Wealth & Power—A Daily Look at the Financial World
Tax season for 2025 income is arriving with a familiar mix of urgency and confusion, especially around how early you can actually file in 2026 and what happens if you miss a key date. The Internal Revenue Service has now locked in the opening day for returns, the standard deadline, and the rules for extensions…
Rising health costs in 2026 are colliding with a complicated tax code, and many households are trying to figure out whether their medical premiums can meaningfully reduce what they owe the IRS. The answer is that some premiums do qualify, but only in specific situations and often with strict limits. Understanding where premiums fit into…
Tax filing season opens Monday, and for once the headlines about refunds are not just wishful thinking. A mix of new tax law changes, inflation adjustments and targeted credits means many households are poised to see significantly larger checks than they did in recent years. If you plan carefully, your own refund could be one…
More than a million service members who received President Donald Trump’s patriotic “warrior dividend” this winter will not owe federal income tax on the money. The Internal Revenue Service has now confirmed that the $1,776 checks sent to troops count as a special military benefit, keeping the full amount in recipients’ pockets. The decision locks…
Tax season 2026 will be the first time most households feel the full force of the new rules that will shape their 2025 returns, and the stakes are high. A sweeping law branded the One Big Beautiful Bill has rewritten deductions, credits, and even how refunds are delivered, while the Internal Revenue Service is adjusting…
Millions of Americans are entering 2026 caught in a paradox: they are signing up for Affordable Care Act coverage in record numbers even as the plans themselves become harder to afford. With key ACA tax breaks gone, premiums are spiking, out-of-pocket costs are rising, and the political fight over who should pay the bill is…
President Donald Trump is dangling a new kind of tax break in front of America’s homeowners, hinting at a benefit that could be worth thousands of dollars a year and, over time, potentially millions for some long‑term owners. The idea, floated on the world stage and amplified back home, would let ordinary households tap a…
The new senior tax deduction is quietly reshaping retirement math. Instead of tinkering with how Social Security itself is taxed, Congress created a sizable extra write off for older filers that can shield more of their overall income, including benefits, from the IRS. For many retirees, that structure can be more valuable in practice than…
President Donald Trump is pushing a fresh round of homeowner-focused tax changes that could shift thousands of dollars a year back into household budgets, especially in high-cost, high-tax states. Between a revamped property and income tax deduction, a permanent cap on mortgage interest write-offs, and a provocative new idea to treat homes more like businesses…
Vivek Ramaswamy is running for Ohio governor on a sweeping promise to wipe out state income taxes and sharply cut property taxes, casting himself as a crusader against what he portrays as a bloated government. Critics have responded by branding him an “anti-tax fairy,” arguing that his numbers do not come close to adding up…