Money, Wealth & Power—A Daily Look at the Financial World
Withdrawing $10,000 or more in cash from a U.S. bank account automatically triggers a report to the federal government. This requirement is part of a broader effort to monitor financial activities that could indicate money laundering or tax evasion. The rule, which applies to single or related transactions, aims to balance the need for security…
As we look ahead to 2026, the landscape of Social Security taxation in the United States is set to shift slightly. While most states do not tax Social Security benefits, a select few continue to do so. In 2025, nine states taxed these benefits, but with one state set to cease this practice in 2026,…
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…
President Trump has introduced a “big, beautiful bill” that promises to eliminate taxes on tips, a move that could significantly affect tipped workers across the U.S. Despite the approval of this bill for 2025, questions remain about who exactly qualifies for the tax-free treatment of tips. The new tax break, approved in September 2025, aims…
Recent regulatory changes have introduced new tax requirements for Americans receiving payments through digital platforms like PayPal and Venmo. These changes reflect an evolving landscape in the peer-to-peer payments industry, aiming to ensure tax compliance and transparency. The implications of these new tax regulations are significant, affecting users across the country, with a focus on…
The recent policy shift eliminating tariff exemptions for imports valued under $800 has stirred significant discussion among businesses and consumers. This change, primarily impacting imports from countries like China, aims to address trade imbalances and support domestic industries. However, it also raises concerns about potential cost increases for consumers and challenges for small businesses relying…
In the wake of the federal tax overhaul under the Trump administration, Colorado faces a significant budget shortfall, projected at $1.2 billion. This deficit poses a substantial threat to state-funded programs and has sparked a debate on fiscal strategies to mitigate its effects. As the state grapples with these challenges, stakeholders at every level are…
Property taxes can significantly affect the overall cost of homeownership. For those looking to minimize these expenses, certain states offer more favorable rates. Here’s a look at ten states with the lowest property taxes in the United States. 1. Hawaii Hawaii tops the list of states with the lowest property taxes, boasting an average effective…