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at best, your actual savings are only a fraction of the deduction amount and depend on yourtax bracket. For instance, if you’re in the 22% tax bracket and claim a $1,000 IRA deduction, your tax liability is only reduced by $220 ($1,000 x .22...
Most investors don't like to see their portfolios drop by a correction-sized amount of 10% or more within a few weeks, but this is part of investing in the stock market. While all investors know that stocks don't go up forever, a few good months can create a false sense of security...
Narrator: But the 2020 bear market turned around in a record amount of time. It hit bottom after just 23 trading days and only took 126 days to swing to a new high. One of the biggest reasons for the reboun...
“You take the smaller of those two numbers, and you subtract any insurance or other reimbursements, and that is the amount of the casualty loss,” says Elizabeth Brennan, a CPA in New Orleans and vice chair of the American Institute of CPAs' disaster tax relief task force. You ...
Research shows the stimulus money was used in a variety of ways. A June survey from theBureau of Labor Statisticsfound that 59% of stimulus check recipients planned to use the money to pay for expenses, followed by paying off debt, at 13%, and adding to savings (12%). The rest...
In May 2020, during the height of the COVID-19 pandemic, the government rolled out a $62 million COVID stimulus plan — the majority of which was funded using a $40 million grant from the Social Security Board (SSB). Of that amount, $6.5 million was used to assist businesses across ...
Executing fiscal and monetary policy at the right time and with the proper amount of energy is as much an art as a science—a little like driving down a road where you can see only three feet ahead. The policy experts in Congress, the Treasury, and the Fed aren’t sages. That makes ...
These checks have been used to boost the economy on several occasions in the United States. They vary in amount according to thetaxpayer's filing status. Joint taxpayers generally receive twice as much as single taxpayers. In some instances, those with unpaid back taxes saw their stimulus checks...
The phrase "Minsky moment" was coined in 1998 by Paul McCulley ofPIMCOfame while referring to the Asian Debt Crisis of 1997.2The concept derives from the view that periods of bullish speculation, if they last long enough, will eventually lead to a crisis, and the longer the period of spec...