Money, Wealth & Power—A Daily Look at the Financial World
Tax pros are bracing for something unusual in 2026: a filing season where many households discover that the government owes them far more than they expected. After years of modest or shrinking refunds, a mix of new law, IRS rule changes, and paycheck withholding quirks is setting the stage for a noticeable jump in money…
The ultra-wealthy do not just earn more than the typical American, they also structure their money so that the tax code treats them far more gently. I see the same pattern across expert analyses and IRS data: the richest households lean on a small set of complex rules that most wage earners never use. Here…
The new 1% federal excise tax on certain cash and money transfers starting in 2026 is not a nuisance fee you can shrug off. For households that move money across borders, run cash-heavy businesses, or help family overseas, ignoring the rules can quietly drain savings and trigger penalties on top of the tax itself. If…
President Donald Trump is selling a new auto tax break as a windfall for drivers, with headlines touting a $10,000 perk for car owners. The reality is more complicated: the benefit is real, but only a narrow slice of buyers with large loans and hefty interest bills will ever see the full amount. For many…
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…