This graphic ranks countries by their forecasted gross domestic product (GDP) in 2025 and compares their inflation-adjusted growth since 2015. All figures are in 2025 dollars. Growth highlights over the past decade Ten years ago, economists predicted that China would overtake the U.S. as the world’s top economy. However, a pandemic slowdown and malaise in […]
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Roll Over the Remaining Interest of an Inherited IRA or Retirement Plan
What is it? If your spouse dies and you are a primary beneficiary of their traditional IRA or retirement plan account, you may be able to roll over the inherited funds to your own traditional IRA or plan account. This is generally true even if your deceased spouse had begun taking required minimum distributions (RMDs) […]
Read MoreTariff Turmoil or Economic Signal? The Makings of a Stock Market Correction
On March 13, 2025, the S&P 500 Index landed in correction territory after a swift three-week drop of more than 10% from its February 19 record high. The NASDAQ index suffered an official correction a week earlier, having fallen over several months from its most recent peak in December 2024.1 President Trump’s rapid, on-and-off implementation […]
Read MoreScammers Are Getting Smarter – Here’s How to Stay One Step Ahead
Scammers are using all kinds of tricks to steal your money or personal information. They might pretend to be a government official, a friend in trouble, or even offer you a fake job – but their goal is always the same. Knowing the warning signs can help you and your loved ones from falling victim. […]
Read MoreFederal Income Tax Returns Due for Most Individuals
The federal income tax filing deadline for individuals is generally Tuesday, April 15, 2025. However, the IRS has postponed the deadline to file federal income tax returns and make tax payments for certain disaster-area taxpayers. The current list of eligible localities and other details for each disaster are always available on the Tax Relief in Disaster […]
Read MoreTariffs: How They Work and Potential Economic Effects
On February 1, 2025, President Trump authorized an additional 25% tariff on all goods entering the United States from Canada and Mexico (except for a lower 10% tariff on energy resources from Canada) and an additional 10% tariff on all goods from China. Nine days later, Trump authorized a 25% tariff on steel and aluminum, […]
Read MoreMany 2017 Tax Act Changes Scheduled to Expire After 2025
The Tax Cuts and Jobs Act was signed into law in December 2017. The Act made extensive changes that affected both individuals and businesses. Most provisions were effective for 2018. Many individual tax provisions are scheduled to sunset and revert to pre-existing law after 2025 unless Congress acts. Some key provisions of the Act scheduled […]
Read MoreThere’s Still Time to Fund an IRA for 2024
The tax filing deadline is fast approaching, which means time is running out to fund an IRA for 2024. If you had earned income last year, you may be able to contribute up to $7,000 for 2024 ($8,000 for those age 50 or older by December 31, 2024) up until your tax return due date, […]
Read MoreInfographic: The Top Performing Stock Market Sectors in 2024
In 2024, nearly all S&P 500 sectors posted gains in a year defined by AI enthusiasm and a robust U.S. economy. Overall, 66% of companies ended the year in positive territory as the index achieved its best two-year performance since the late 1990s. This graphic compares S&P 500 sector returns in 2024, along with each […]
Read MoreFederal Tax Filing Season Has Started
The IRS began accepting and processing 2024 tax-year returns on Monday, January 27, 2025. Tips for making filing easier To speed a potential tax refund and help with tax filing, the IRS suggests the following: Key filing dates Here are several important dates to keep in mind: Tax refunds The IRS encourages taxpayers seeking a […]
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