The infrastructure bill cracks down on crypto tax reporting. What investors need to know

Chinnapong | iStock Editorial | Getty Images Cryptocurrency investors may face higher taxes as the infrastructure bill cracks down on future IRS reporting, financial experts say. The $1.2 trillion deal calls for mandatory yearly tax reporting from digital currency brokers starting in January 2023 to help pay for President Joe Biden’s domestic spending agenda.  The measure may bring in … Read more

Heading into Black Friday, 1 in 3 shoppers are still paying off last year’s holiday debt

As the holiday shopping season kicks into high gear, Americans are prepared to shell out big bucks. This year’s holiday spending is expected to shatter records, according to a forecast by the National Retail Federation. On average, shoppers will spend roughly $762 on their friends and family, a separate report by NerdWallet found. And yet, … Read more

If you don’t get a 6% raise, are you taking a pay cut due to inflation? Here’s what experts say

A worker helps a customer at the Presidente Supermarket in Miami on April 13, 2020. Joe Raedle | Getty Images Workers across the U.S. are wondering how rising inflation might be impacting their take-home pay. Inflation has risen more than expected. In October, consumer prices increased 0.9% and pushed the year-over-year gain to 6.2%, hitting … Read more

Is a 4-day workweek the answer to employee burnout? Most American workers say yes

Halfpoint Images | Moment | Getty Images More than a year and a half into the Covid-19 pandemic, many American workers are burned out. The remedy may be a four-day workweek, according to a survey from Eagle Hill Consulting. Of those U.S. employees polled, 53% said they are experiencing burnout, with women and younger workers … Read more

Democrats still weighing changes to limit on state and local taxes deduction

Rep. Tom Suozzi, D-N.Y., speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the U.S. Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images President Joe Biden released a framework for his $1.75 trillion spending package Thursday. And while it didn’t propose changes to the $10,000 cap … Read more

The best habit you can get into if you want to become debt-free, according to a financial planner

For all its hardships, the pandemic has been helpful for a lot of savers, particularly workers who were lucky enough to weather Covid without losing income. Overall, the personal savings rate continues to be historically high, according to the Bureau of Economic Analysis, and credit card debt has decreased more than 15% since the pandemic … Read more

6 reasons why Americans aren’t returning to work

A “Now Hiring” sign outside a store on Aug. 16, 2021 in Arlington, Virginia. OLIVIER DOULIERY | AFP | Getty Images On the surface, conditions may seem ripe for a boom in the U.S. labor market. There are still 5 million fewer jobs than before the pandemic but job openings are near record highs. And … Read more

First bitcoin futures exchange-traded fund starts trading Tuesday. What to know before adding it to your portfolio

Bitcoin on display. Chesnot | Getty Images The first U.S. bitcoin futures exchange-traded fund will launch on Tuesday, a milestone for the cryptocurrency industry, and others may soon follow. The long-awaited ProShares ETF will offer exposure to bitcoin futures contracts — agreements to buy or sell the asset later for an agreed-upon price — rather … Read more

Social Security beneficiaries will soon see the biggest jump in monthly checks in 40 years. How to prepare

VALERIE MACON | AFP | Getty Images People who collect Social Security are about to see bigger checks. The cost-of-living adjustment in 2022 will be 5.9%, the Social Security Administration said Wednesday. The bump, which will help beneficiaries keep up with rising costs due to inflation, is the largest increase in about 40 years. The … Read more