Money, Wealth & Power—A Daily Look at the Financial World
For older Americans, the 2025 filing season will quietly introduce one of the most generous federal tax perks in years. A new “senior bonus” deduction can trim taxable income by thousands of dollars, and for many retirees that will translate into refunds that are $1,000 or more higher than they would have been under prior…
The Internal Revenue Service has started to spell out how the new tax law will reshape deductions over the next two filing seasons, and the numbers are big enough to change how millions of households file. The standard deduction is climbing, targeted write offs are being rewritten, and a new framework from the One Big…
Capital gains tax is one of the few levies investors can see coming years in advance, which makes 2026 less a mystery and more a planning problem. The rules are already sketched out, the brackets are indexed, and the window to reposition your portfolio is still open if you start now. I want to walk…
Millions of households are about to discover that the federal income tax bill they have long assumed was inevitable may not be. Starting with 2026 returns, President Donald Trump’s latest tax overhaul, layered on top of a sweeping rewrite known as The One Big Beautiful Bill, creates a path for some workers, retirees, and families…
The fourth quarter estimated tax deadline landing in mid January is more than just another date on the IRS calendar. It is a rare mid season moment to plug holes in your 2025 tax picture before the filing rush begins, especially if your income has been uneven or lightly withheld. Used well, this cutoff lets…
Restaurants are warning that a new decision by President Donald Trump will saddle their industry with a collective cost of $168M, and they say those higher expenses will not stop at the kitchen door. As operators scramble to adjust, they are already signaling that menu prices, fees, and even tipping norms could shift in ways…
The United States is waiting on a single court decision that could either cement President Donald Trump’s tariff strategy or trigger a sprawling fight over who gets billions of dollars back. As the justices hold off, companies, markets and the White House are all trying to game out whether the delay points to a political…
China’s trade machine just delivered a blunt verdict on Washington’s tariff strategy. In 2025 the country booked a record trade surplus of $1.2 trillion, a figure that surged even as President Donald Trump escalated duties on Chinese goods. Rather than forcing Beijing to bend, the tariff fight has coincided with a wider realignment of global…
Tariffs were sold as a way to make foreign producers pay, but the latest Federal Reserve survey shows the bill is increasingly landing in American checkout lines. From groceries to machinery, higher import duties are quietly being folded into prices, turning trade policy into a stealth tax on shoppers. The shift is subtle, but it…
The Internal Revenue Service has now locked in the 2025 income tax brackets, standard deduction amounts, and key retirement contribution limits, setting the rules that will govern how much of your paycheck ultimately goes to Washington. The structure of the system is familiar, but the thresholds and deductions have shifted enough that a passive approach…