Author: Money Mechanics

Many assume that Social Security benefits are tax-free after a certain age or that only wages affect whether your Social Security benefits are taxed by the IRS, but the reality is more nuanced.This quiz will test your knowledge of the often-misunderstood topic of Social Security taxation, including how provisional income works, how other income types affect your tax burden, and common misconceptions.Read More About Social Security Taxes 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 FOR FREE ISSUE Sign up for…

We’ve all heard the saying “what happens in Vegas stays in Vegas.” Yet, it might not.Here’s another saying for you: “What begins in California could spread throughout the country.”Today’s story will be of special interest to personal injury (PI) lawyers who run settlement mills and plaster billboards near airports, on buses and buy TV ads that proclaim something along the lines of, “Hire me! I get millions of dollars for my clients!” 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 FOR…

Turning 65 marks the start of your journey into Medicare, but the enrollment process is a critical window with permanent financial consequences. Missing your deadlines or making the wrong choice between original Medicare and employer coverage can result in lifetime penalties.This 10-question True/False quiz covers the essential facts about the Initial Enrollment Period (IEP), late penalties, and the crucial distinction between Medicare’s different parts. Test your knowledge now to ensure your transition to Medicare is smooth, timely and penalty-free.Don’t worry if you miss an answer; you can follow the links below the quiz to brush up on your knowledge. From…

The approaching end of the year marks the start of “giving season,” the period between Giving Tuesday (the Tuesday after Thanksgiving) and New Year’s Eve.This stretch coincides with year-end holidays and tax planning and is accompanied by an increased focus on charitable activities.During this time, nonprofits are ramping up requests with annual appeals and year-end campaigns, while donors are making charitable giving part of their annual holiday traditions and tax strategies. 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 FOR FREE…

Key Takeaways The U.S. Solicitor General on Monday supported Bayer’s efforts to get its case heard by the Supreme Court over whether it is liable for failing to abide by state-level laws concerning cancer risk warnings. The company argues that federal regulators have determined the chemical in question isn’t likely to be a carcinogen, meaning Bayer doesn’t need to include a cancer risk warning on the label. Shares of pharmaceutical conglomerate Bayer (BAYRY) are surging 12% on their home exchange in Germany after the U.S. Solicitor General supported its efforts to have the Supreme Court review prior rulings on whether…

Counting on your annual inflation “raise” in Social Security benefits to help cover your rising expenses in 2026? You may find yourself frustrated as the new year unfolds.Social Security’s annual cost-of-living adjustment (COLA) will be 2.8% in 2026, just a smidge higher than 2025’s 2.5% increase, which was the lowest boost in benefits since 2021. The average monthly payment will rise by about $56, to an estimated $2,071, while the maximum that a recipient can take home at full retirement age is expected to hit $4,152 a month, up from $4,018 in 2025.The modest COLA is a positive sign that…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Strong demand for Japanese government bonds helped to steady Asian markets on Tuesday, a day after hawkish comments from the central bank governor sparked a global sell-off.The yen steadied and equity markets were flat, with investors reassured by demand at an auction of Japanese government bonds. The benchmark Nikkei 225 and the broader Topix both closed up 0.1 per cent, while the yen weakened 0.1 per cent against the dollar.The auction of 10-year Japanese bonds attracted relatively solid demand, including from pension…

The pause in the BOJ’s rate hikes, combined with the slowing its rate cuts, has supported a multi-month rise in the USD/JPY pair. However, changing macroeconomic conditions suggest a potential shift: the Fed may announce cuts while the BOJ could resume hikes, which could reverse the medium-term uptrend. Markets have largely priced in Japan’s wide-ranging fiscal package, which briefly supported yen sellers. Attention will now focus on the BOJ’s next move, while the Fed is widely expected to deliver a 25 basis point cut.Bank of Japan Hints at Hawkish MovesThe USD/JPY pair, nearing long-term highs, is likely adding pressure on…

The new Foundation Re IV Ltd. (Series 2026-1) catastrophe bond transaction that is being sponsored by US primary property and casualty insurer The Hartford, has seen its price guidance lowered during the marketing phase of the issuance, as investors demonstrate their appetite for risk from respected sponsors.The size of the issuance hasn’t changed though, and The Hartford continues to seek a $270 million source of multi-peril collateralized catastrophe reinsurance protection from the capital markets with this Foundation Re IV Series 2026-1 cat bond issuance. As we reported in November, The Hartford returned to the catastrophe bond market for its second takedown under…

Illinois locals are going through a severe financial crisis due to rising credit card debt, medical expenses, and personal loans. Metropolitan areas like Chicago, Naperville, and Springfield experience high living costs, while rural communities have scarce access to in-person financial counselling or support services. For the usual households with an unsecured debt of $10,000, professional debt relief programs include credit counselling, debt consolidation, settlement, and bankruptcy. They offer practical pathways to regain financial stability and a peace of mind.  Understanding Illinois-Specific Debt Challenges Illinois’ economic landscape is quite diverse, spanning all across urban centres, mid-sized cities, and rural regions. The…