Tag Archives: earners

New rules from the IRS will take away a popular retirement tax break from some of the workforce’s higher earners. Starting in 2027 — although some plans could implement the change by next year — workers aged 50 and up who earn more than $145,000 in the previous year will only be able to make catch-up contributions to their 401(k) …

High Earners Age 50 and Older Are About to Lose a Major 401(k) Tax Break  The Wall Street Journal New Regulations for Retirement Catch Up Contributions  FEDmanager Treasury, IRS finalize rule for 401(k) catch-up contributions. What it means for higher earners  CNBC New IRS Retirement Rules Could Shake Up Homeowners’ Nest Eggs Under SECURE 2.0 Act  Realtor.com Saving for retirement is getting more expensive  qz.com …

Top 10% of Earners Drive a Growing Share of US Consumer Spending  Bloomberg.com The economy is chugging along, but consumers are uneasy  NBC News Moody’s economist: US avoids recession if well-to-do ‘keep spending’  The Hill Wealthy consumers account for nearly half of all US consumer spending  Baton Rouge Business Report Tuesday discussion post  Slow Boring Source link

U.S. President Donald Trump gestures before boarding Air Force One as he returns to Washington, D.C., in Lossiemouth, Scotland, Britain, July 29, 2025. Evelyn Hockstein | Reuters President Donald Trump‘s ‘big beautiful bill’ added a temporary $40,000 limit on the federal deduction for state and local taxes, known as SALT. But the phaseout, or income-based benefit reduction, creates what some …

Even Top Earners Are Falling Behind on Credit Card and Car Payments  Bloomberg.com ‘It’s extremely unfortunate’: New data shows more car owners are underwater on auto loans  WWMT New Car Buyers Are Getting Trapped in This Scary Financial Situation  autoblog.com The Car Bubble Bites Back As More Than 25 Percent Of Trade-Ins Are Reportedly Underwater  The Autopian Underwater car loans hit their highest level …

ALBANY — Taxes should go down for the average Long Islander under the new federal megabill, tax analysts told Newsday, with the biggest benefits going to people with high incomes and large mortgages. The sweeping bill that President Donald Trump signed into law on July 4 extends and builds on a number of changes put in place during his first term under …