Child care is more expensive. What parents pay and how they’re coping

Hill Street Studios | Digitalvision | Getty Images American parents, already grappling with rising inflation, are facing another soaring cost: child care. Some 63% of parents report child care has become more expensive over the past year, according to a survey by That high number has many concerned about whether they can afford care … Read more

High inflation points to bigger Social Security COLA in 2023

Joe Raedle | Getty Images News | Getty Images Social Security beneficiaries could see another record cost-of-living adjustment in 2023, based on the latest government data showing persistent high inflation. But that increase may not be enough to pare the loss in buying power recipients have experienced over the years, according to a new analysis … Read more

Inflation could mean a big Social Security cost-of-living adjustment in 2023

Sporrer/Rupp | Image Source | Getty Images Social Security beneficiaries started 2022 with a 5.9% cost-of-living adjustment to their monthly checks, the highest increase in about 40 years. But as inflation climbs with each month, the buying power of those benefit increases has diminished. The Consumer Price Index for all Urban Consumers, or CPI-U, rose … Read more

Why there’s a push to forgive student loans but not other debt

Activists hold a student loan forgiveness rally near the White House on April 27, 2022. Anna Moneymaker | Getty Images News | Getty Images Throughout the conversation around student loan forgiveness, one frequently asked question is why cancel education debt, and not, say, credit card debt or mortgages? What’s so different about student loans? In … Read more

Considering a Roth IRA conversion? Here’s how to reduce the tax bite

If you’re considering a Roth conversion, your timing and yearly planning can significantly reduce the tax bite, financial experts say. The popular retirement savings strategy allows higher earners to skirt the income limits for Roth individual retirement account contributions. While the maneuver may kickstart tax-free growth, you’ll owe levies on pretax deposits. And boosting your … Read more

Small businesses still struggle to find enough workers | Business

NEW YORK (AP) — Some small businesses are still struggling to hire qualified workers, even as Americans return to the US job market in droves. Hiring and retaining employees remains the top challenge for small businesses, according to a survey of 1,100 businesses by Goldman Sachs 10,000 Small Business Voices out last week. Ninety percent … Read more

Afghanistan’s Desperation Economy – The Journal.

This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Kate Linebaugh: Our colleague Sune Rasmussen has covered Afghanistan for a decade. And he says there are scenes of despair all around the country. Sune Rasmussen : In recent months, you’ve seen just crowds … Read more

The last chance for some filers to avoid a tax penalty is Jan. 18

“Taxes” engraved at IRS headquarters in Washington, DC Andrew Kelly | Reuters Next week may be the last chance for some filers to avoid a tax penalty and reduce their bill in April. The deadline for fourth-quarter estimated tax payments is Jan. 18, applying to income from self-employment, small businesses, gig economy work, investments and … Read more

Your 2021 child care costs could mean $8,000 tax credit

Monkeybusinessimages | Istock | Getty Images If you paid for child care last year, that expense could be valuable when you prepare your 2021 tax return. Along with some other tax changes, the “child and dependent care tax credit” was expanded in several ways. The upshot is that many households will get a bigger tax … Read more

DOJ accuses 2 in California of $144 million Covid testing fraud

Signage is seen at the United States Department of Justice headquarters in Washington, DC, August 29, 2020. Andrew Kelly | Reuters The US Department of Justice on Wednesday announced criminal charges against two people in California in a scheme that allegedly made $144 million in false and fraudulent health claims to federal programs for unnecessary … Read more