Money, Wealth & Power—A Daily Look at the Financial World
Amazon has agreed to a $2.5 billion settlement with the Federal Trade Commission (FTC) following allegations that it misled Prime subscribers through deceptive practices. This settlement, announced on September 25, 2025, aims to compensate affected U.S. Prime users who encountered difficulties in canceling their memberships due to what the FTC described as “dark patterns.” These…
Rumors suggesting that the IRS will distribute $2,000 stimulus checks to everyone in October 2025 have rapidly spread online. These claims, largely fueled by social media and unverified assertions about tariff rebates, promise direct deposits reminiscent of pandemic-era relief. Despite their popularity, these rumors lack any official confirmation. Recent reports from October 21, 2025, highlight…
Recent changes in student loan reporting are causing significant credit score drops for borrowers, with some experiencing reductions of up to 200 points. As past-due payments from the pandemic era resume being factored into credit reports, these updates, implemented after federal forbearance ended, are highlighting missed payments that were previously paused. Borrowers now face urgent…
The IRS has unveiled new tax brackets for 2026, introducing significant changes that could provide a larger tax break for parents. Central to these changes is the potential expansion of the child tax credit, offering families a chance to optimize their financial planning now to benefit from these adjustments. By understanding the proposed enhancements and…
The IRS has quietly altered regulations affecting how inheritances passed to children are taxed, potentially leading to higher tax burdens on assets left in irrevocable trusts. This shift, which could shrink the net value of inheritances received by heirs, stems from updates that reclassify certain trust distributions for tax purposes, impacting estate planning strategies nationwide….
In 2026, the 0% long-term capital gains tax rate will apply to single filers with taxable income up to $48,475 and married couples filing jointly up to $96,950. These thresholds reflect inflation adjustments to the pre-2017 Tax Cuts and Jobs Act brackets, following its expiration at the end of 2025. These limits determine how much…
The IRS has unveiled its updated 2026 tax brackets and standard deductions, featuring an additional standard deduction for taxpayers aged 65 and older. This adjustment, designed to counteract inflation, aims to provide targeted relief for seniors facing rising living costs. Despite a partial government shutdown, the IRS ensured continuity in tax planning for the upcoming…
As President-elect Donald Trump prepares to take office in 2025, his proposed policies could reshape retirement savings by altering tax treatments for 401(k)s and IRAs. These changes may potentially increase tax burdens on withdrawals for millions of retirees. Hourly workers, who often struggle with inconsistent income, may find their retirement funds particularly vulnerable to these…
President-elect Donald Trump is contemplating the distribution of $2,000 checks to Americans as a form of tariff relief or stimulus. This initiative is envisioned as a “dividend” from the anticipated revenue generated by proposed tariffs, which are expected to bring in trillions. The plan, which could provide up to $2,000 per recipient, is part of…
Passing wealth to future generations without incurring hefty taxes is a goal for many families. By leveraging strategic financial tools and planning, it’s possible to ensure that your legacy remains intact. Here are seven effective ways to transfer generational wealth tax-free, each grounded in expert insights and proven methods. 1. Leverage Annual Gifting Limits for…