How Much Money You Will Get From Stimulus Checks, Unemployment Benefits And Everything Else Inside Biden’s $1.9 Trillion Relief Bill

President Joe Biden signed the $1.9 trillion American Rescue Plan into law Thursday afternoon as Democrats celebrated the package as one of the most consequential anti-poverty efforts in recent history. After a long battle with GOP lawmakers who resisted additional spending, Democrats pushed through legislation they said was essential to help struggling Americans during the Covid-19 pandemic and boost the …

FAQ on Stimulus, Unemployment and Tax Rebates

President Biden signed the American Rescue Plan on Thursday, enacting a nearly $1.9 trillion pandemic relief package with benefits including another round of stimulus payments, an extension of unemployment benefits and generous tax breaks to low- and moderate-income people. Robert Neubecker.jpg Stimulus Checks Q: How big are the stimulus payments in the bill, and who is eligible? A: The stimulus …

Don’t Pay Tax Penalties on Money You Took From Retirement Accounts

Retirement savers need to pay close attention to their income tax filings this year because of pandemic-related changes to rules for required withdrawals. Even in normal times, the rules for mandatory minimum withdrawals can be confusing and are even more so this year because of a mashup of tax changes and virus relief programs. If you get things right, you …

Should I Invest When The Market Is High? Dispelling The Buy Low, Sell High Myth

Most investors realize trying to time the market by always buying low and selling high isn’t a realistic endeavor. Yet even with that knowledge, if you have a substantial amount of cash to invest, the thought of investing when the stock market is hovering near all-time highs may give you pause. Similarly, when facing the opportunity to ‘buy the dip’ …

So You Saved a Little Money This Past Year. Now What?

The uneven economic recovery is a cruel outcome of the pandemic and systematic inequality. Millions of people remain unemployed, and the systems we have in place to help have failed many of them. But if you squint, there is a silver lining for some: More people have been able to save money and pay off debt since lockdowns across the …

The Biden Economy Risks a Speeding Ticket

You are driving down a highway you’ve never been on before, eager to get to your destination. You’re in a hurry but also want to avoid a ticket. One problem: You don’t know the speed limit. How hard do you push on the accelerator? Richard Borge That is roughly the question facing the Biden administration and Congress as they debate …

Springtime For The American Economy

Winter weather conditions may remain on the forecast for most of the country during the coming weeks, but from a U.S. economic perspective, it’s finally beginning to feel like spring. That may be due in part to changes that come from a new administration, shifting priorities, and fresh perspectives. But this economic thaw is much more than just a financial …

How to Stay Optimistic

These are trying times for optimists. Covid deaths remain tragically high. Job growth remains stubbornly low. So many of our colleagues and kids are feeling stressed, exhausted, angry — “hitting the pandemic wall.” No wonder a recent front-page article in the Wall Street Journal, which has chronicled the Covid-driven struggles of companies and universities, highlighted a crisis at a different …

Reasons to File an Early Tax Return

Even though many taxpayers file their tax returns on or about April 15 (except during the pandemic in 2020), there is no need to put it off until the last minute. Indeed, filing an early tax return can make sense for a variety of reasons. iStock-878953752.jpg KEY TAKEAWAYS Early filing gets you a faster refund. Lack of rushing gives you …