Author: Money Mechanics

KEY TAKEAWAYS A recent survey shows that last year, the average family spent about 20% of their annual income on child care.Some families had additional costs as well, such as senior care, pet care and house care, which combined could add up to thousands of dollars a month.To cope with increasing costs, many families are reducing spending on entertainment and vacations and dipping into their savings. Some families are spending more on caring for children and other family members than they do on their mortgage, forcing them to cut back on things like entertainment and vacations and to dip into…

We celebrate their birthdays, pay their vet bills, and include them in our family portraits — so it’s only natural to wonder if your furry friend can help lower your tax bill, especially as we head into the 2026 filing season.After all, the 2025 Trump/GOP tax and spending bill introduced several new tax breaks, like the deductions for tips and overtime. Yet while the IRS doesn’t consider pets to be “dependents,” there are specific (albeit strict) scenarios where your animal can actually reduce your taxable income.From medical service animals to the rising world of “pet influencers,” here are four ways…

Key Takeaways If you have a monthly income of at least $2,000, take a look at South Africa and Kenya, which offer visa programs for retirees. Health care in many parts of Africa costs a fraction of U.S. prices, while some countries like Mauritius offer tax advantages that can stretch retirement income even further. Retirees are increasingly looking abroad not just for adventure or cultural connections, but for affordability and a health care system that won’t drain their savings. In parts of Africa, you can find private medical care that is accessible and affordable, monthly costs that are far lower…

After a two-year “administrative transition period” provided by the IRS, one of the SECURE 2.0 Act’s most talked-about provisions — the Roth catch-up mandate — is now the law of the land.If you are 50 or older and a high earner, these rules fundamentally change how your “extra” retirement savings are taxed and reported. Making a mistake here doesn’t just mean a missed savings opportunity; it could lead to unexpected tax bills.Follow the links below to learn more about Roth 401(k)s and the new catch-up provisions and how they impact your retirement income. From just $107.88 $24.99 for Kiplinger Personal…

For most taxpayers, the 2026 filing season is already shaping up to be complicated due to a recent overhaul of many parts of the tax code. Now, things with the tax agency are getting messier.Why? President Donald Trump is suing the Internal Revenue Service and the U.S. Treasury for $10 billion.The lawsuit, filed last week in federal district court in Florida, alleges that the federal government failed to protect the Trump family’s tax records from illegal disclosure. 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…

Key Takeaways PayPal shares sank sharply Tuesday morning after the company missed fourth-quarter estimates and gave a weaker-than-expected outlook. The company also announced a new CEO.PayPal pointed to weakness in its branded checkout operations, and said it expects profits to decline in the first quarter and full year. PayPal shares tumbled Tuesday after the payments provider’s fourth-quarter results and outlook came in short of Wall Street analysts’ estimates. The company also named a new CEO. Shares were down over 18% recently, among the worst-performing stocks in the S&P 500 and Nasdaq as they sank to their lowest point since early…

It’s tax season again. But this year, as you gather your W-2s and 1099s, you’re also navigating the first filing season impacted by the recently enacted 2025 Trump tax law, also known as the “big beautiful bill.”With new deductions for things like overtime pay, tips, and car loan interest, plus a new Schedule 1-A, the “simple” return you filed last year might suddenly feel a lot more complicated.You sit in your chair, eyeing the mounting pile of documents, and think: “Should I just hire someone to prepare my return?” From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter,…

Key Takeaways Palantir’s stock has mostly fallen over the past three months. Things are looking more positive today.The AI software company late Monday reported better-than-expected quarterly results and issued a rosy outlook for revenue growth. Palantir is bouncing. Shares of the AI-powered software company were sharply higher early Tuesday, looking set to reverse a slide that has lasted about three months. Palantir’s (PLTR) stock—recently up about 10% premarket to near $163—may today eat into year-to-date losses; the shares finished 2025 at just under $178 apiece. Last night’s release of an upbeat sales outlook and quarterly financial results—both which were better…

In 2008, Nicolas Lecocq was 16, living in France, and working as a baker after dropping out of school. He was pulling minimum wage, waking up at 4 a.m., and coming home exhausted. But every night, he sat down in front of his computer and taught himself how to code using free YouTube tutorials and by dissecting other people’s projects. As his coding skills improved, he started building websites for local businesses, making a couple hundred dollars per project. But one thing drove him crazy: WordPress themes—the design and layout options for websites made with WordPress. “Every time I took…

Luxury home prices rose 4.6% in December—more than triple the gain in non luxury prices. Only two major metro areas saw declines. Redfin agents say a lack of quality inventory is propping up prices; the supply of luxury homes for sale posted the slowest growth since April. Pending sales of luxury homes fell 1.1%—the biggest drop since June—compared with a 0.6% decline in non luxury sales. The median luxury home sale price in America rose 4.6% year over year to $1.31 million in December. By comparison, non luxury prices rose 1.4% to $375,000—the slowest growth in records dating back to…