Author: Money Mechanics

(Image credit: Getty Images)When you’re wealthy or a business owner (or a wealthy business owner), tax planning can be complex, and certain strategies may be overlooked — even with professional help.Tax laws change frequently, and without proactive planning, opportunities can slip through the cracks.Below are nine tax moves to double-check — including what not to do and what not to miss — so you can minimize your tax bill without falling into traps. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues CLICK…

(Image credit: Getty Images)If you know anything about me or have seen my content before, then you already know one thing about me: I hate taxes.Now, before you get the wrong idea, let me explain. I love this country and know that taxes pay for many of the good things we enjoy and rely on, so I don’t hate them completely.But I am not confident the government is the best steward of our taxpayer dollars, especially considering our national debt. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus…

(Image credit: Getty Images)When it comes to divorce, we’ve all heard the horror stories. The breakup left me broke, lonely or depressed. Even in a gray divorce where both parties were left financially stable, divorce can still be difficult.Statistics tend to prove that out. Women’s standard of living drops by an average of 45% after a gray divorce, while divorced men over 50 see a higher decline in physical and mental health and shorter life expectancies than their married counterparts.No wonder my friend is depressed. At 58, he’s facing the prospect of single life at a time when most couples…

Each week, in our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter editor, answers questions on topics submitted by readers. This week she’s looking at four questions on whether you can claim your elderly parent as a dependent on your tax return and more. (Get a free issue of The Kiplinger Tax Letter or subscribe.)1. Claiming a parent as a dependentQuestion: I care for my elderly mom. Can I claim her as a dependent on my 2025 Form 1040? Joy Taylor: You must meet two rules to claim your mom as a dependent on your federal tax return.…

Key Takeaways Side hustles are getting more popular because they help you make extra money and can fit around your busy schedule.With ChatGPT, you can make some extra income without advanced skills.ChatGPT opens the door to a wide range of beginner-friendly income opportunities, including tutoring, virtual assistance, content writing, and social media management. Working a side hustle to earn extra income has never been more common and accessible than it is now. As the cost of living continues to rise, more people are turning to tools like ChatGPT to work smarter, streamline everyday tasks, and generate extra income without adding…

Many of those in line for a decent bonus this year may be left wondering what to do with it. Making a lump sum of any kind work hard for the future can be a quandary for the highest earners who hit pension limits and have little protection against the top rates of tax. The UK tax system has tightened the screw on earnings, savings and investments in recent years, as allowances and thresholds have been cut or frozen, while rates have either risen or remained stable. As tax falls on income, then on growth and increasingly at death, decision-making is…

Saving money is an essential personal finance habit you want to build the right way. Having a healthy savings base achieves several things: It lessens your reliance on debt if an unexpected bill arises. And, it can help you build the discipline necessary to achieve your goals.When used well, saving money can help you build a healthy financial foundation. However, there are also common mistakes you want to avoid.Avoiding these mistakes ensures you’re maximizing your gains and not leaving money on the table. Here’s a look at some of the most common oopsies and ways to avoid them. From just…

February 20, 2026 07:32 AM EST What Happened in the Third Quarter GDP Report? FROM 5 minutes ago The U.S. economy grew much faster than forecasters had expected in the third quarter, thanks to a drop in imports and a surge in consumer spending. The inflation-adjusted Gross Domestic Product grew at an annual rate of 4.4% in the third quarter, up from 3.8% in the second quarter. That blew past the 3.2% growth forecasters had expected, and was well above the 2.6% average annual growth rate over the previous four years. -Diccon Hyatt February 20, 2026 07:16 AM EST What…

Key Takeaways Gold prices have surged to new all-time highs in early 2026. The current gold surge is fueled by inflation, economic risks, and the threat to the Federal Reserve’s independence. Buffett has called gold an “unproductive” asset that doesn’t generate income. Berkshire had a brief gold mining stake in 2020. Get personalized, AI-powered answers built on 27+ years of trusted expertise. In early 2026, gold prices are the highest they’ve ever been, as both investors and central banks increase their holdings to hedge against inflation, economic risks, and the threat to the Federal Reserve’s independence. However, legendary investor Warren…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. Private credit manager Blue Owl has halted redemptions from one of its funds aimed at retail investors, and private asset managers of all sorts sold off yesterday in response. That retail investors’ desire for liquidity would turn out to be an uneasy mix with private credit’s…