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The Inflation Reduction Act caps costs for Medicare patients on insulin. Where the push for broader relief stands

The Good Brigade | Digitalvision | Getty Images A new legislative package signed into law by President Joe Biden on Tuesday is a big win for Medicare patients who struggle to cover the cost of insulin to manage their diabetes. But the bill, called the Inflation Reduction Act, falls short of applying those cost controls […]

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IRS interest rates jump to 6% on Oct. 1. Here’s how much money you’ll get for a missing refund

How to calculate your interest The interest is an annual rate compounded daily, meaning you divide the 6% rate by 365, explained Tommy Lucas, a certified financial planner and enrolled agent at Moisand Fitzgerald Tamayo in Orlando, Florida. With the average brick-and-mortar savings account paying well below 1%, the IRS interest may sound appealing. However, […]

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Business

If you’re facing bankruptcy, here’s what experts say to do before, during and after you file

Personal bankruptcy filings have fallen dramatically since the beginning of the coronavirus pandemic, but with interest rates rising and government relief waning, filing numbers will likely pick up through this year, say experts. “I’ve had more calls in the last few weeks than the previous six months,” said Charles Juntikka, a New York-based lawyer who […]

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Business

Investors are piling into high-yield bonds. What to know before adding ‘junk’ to your portfolio

Investors have been pouring money into high-yield bonds, which typically pay more interest for taking on greater risk. But these investments are also known as “junk bonds,” and financial experts urge caution before piling in. After a rocky start to 2022, U.S. high-yield bond funds received an estimated $6.8 billion in net money in July, […]

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Business

26% of job switchers regret joining the Great Resignation, survey finds: ‘They’ve sobered up’

Despite some indications of an economic slowdown, the job market remains remarkably stable, and many workers have reaped the benefits. In fact, a record number of employees quit their jobs, found new positions and renegotiated along the way. But not everyone who joined the so-called Great Reshuffle is better off. More than a quarter — […]

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Back-to-school shopping takes ‘a major financial toll’ amid high inflation. Here’s how to save on supplies for the fall

Customers shop for back-to-school supplies at a Target store in Colma, California. David Paul Morris | Bloomberg | Getty Images As parents know all too well, it’s hard to cut back when it comes to the kids. Despite more households living paycheck to paycheck, this year’s total back-to-school spending is expected to match last year’s […]

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US

Mark Cuban: Buying real estate in the metaverse is ‘the dumbest’ idea ever

Buying digital land in the metaverse may not be the best use of your money, according to billionaire investor Mark Cuban. Although Cuban is a well-documented cryptocurrency enthusiast, he called purchasing virtual real estate in the metaverse “the dumbest s— ever” in a recent interview on the Altcoin Daily YouTube channel. Despite being an investor […]

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Business

Gas is cheaper but groceries are not: How to save as food inflation jumps at the fastest pace since 1979

To feel the effects of inflation, just go to the supermarket. Although inflation, overall, began to ease last month along with gas prices, food costs climbed 1.1% in July, bringing the year-over-year gain to 10.9%, according to the latest Consumer Price Index figures. The food-at-home index, a measure of price changes at the grocery store, notched the […]

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Business

Do you know what your credit score is? Here’s everything you need to know

It shouldn’t be a surprise that you need to have a good credit score for your overall financial health. But do you actually know what your credit score is, how to figure it out and why it matters? Watch this video, as CNBC’s Emily Lorsch breaks it all down. Source link

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Business

Inflation Reduction Act extends ‘pass-through’ tax break limits for 2 more years. Here’s what that means for entrepreneurs

Senate Majority Leader Chuck Schumer, D-N.Y., discusses the Inflation Reduction Act on Aug. 7, 2022 in Washington, D.C. Kent Nishimura | Los Angeles Times | Getty Images Senate Democrats curtailed a tax break for certain pass-through businesses as part of the Inflation Reduction Act passed Sunday. A pass-through or flow-through business is one that reports […]