Key Points President Biden’s 2025 budget proposal includes a significant increase in the top capital gains tax rate to 44.6% The proposed tax rate, coupled with state taxes, would lead to a combined rate exceeding 50% in several states, with California potentially facing a rate as high as 59% The plan also includes a proposal to remove the stepped-up basis on inheritances, potentially subjecting estates to capital gains taxes upon the transfer of assets after death. President Joe Biden has unveiled a proposal in his 2025 budget that would elevate the top marginal rate on long-term ..read more

WiserAdvisor offers a helping hand in narrowing down your financial advisor choices. It's difficult to find a financial advisor you can trust. WiserAdvisor vets all their advisors and will match you with an advisor that meets your criteria in just a matter of minutes. We explore what WiserAdvisor does and how the platform works to help you decide if it’s a useful tool for your situation. Quick Summary WiserAdvisor connects individuals with pre-screened financial advisors. It’s free to use the tool. But the advisor you find will charge fees for their services. Every professional ..read more

YNAB and Empower are two of the most popular budgeting tools today. The right budgeting tool can help you achieve your financial goals. While You Need A Budget (YNAB) and Empower are both worthwhile options, the right choice will depend on your preferences and the tools you care about the most. In this breakdown of YNAB vs. Empower, we cover the features and user experience of both platforms. We also highlight the differences to help you decide which budgeting tool is the right fit for your situation.  Table of Contents Overview Of YNAB (You Need A Budget)  Overview Of Empower ..read more

Key Points Betterment will acquire the digital investing accounts of Marcus Invest, a service from Goldman Sachs. The transition is set for June 29, 2024 and will allow Marcus Invest customers to use Betterment’s robust offerings. Goldman Sachs will refocus its efforts on expanding its Marcus Deposits platform, which boasts over $100 billion in consumer deposits and three million global customers. Betterment, the largest robo-advisor in the United States, announced its agreement to acquire Marcus Invest’s digital investing accounts from Goldman Sachs. This move will see Marcus Inv ..read more

The PSLF Buyback Program allows you to "buy" missing payments that would have allowed you to qualify for loan forgiveness. To qualify for the Public Student Loan Forgiveness, you must have 120 months of qualifying payments made while employed in a qualifying public service job.  However, if some payments were missed for specific reasons, and you would otherwise qualify for forgiveness, you can now make retroactive payments with the PSLF Buyback Program.  Table of Contents Requirements For The PSLF Buyback Program Amount Of The Buyback Payments Wait For IDR Payment Account Adjust ..read more

Key Points Ascensus has announced it will acquire Vanguard's Individual 401(k), Multiple Participant SEP (Multi-SEP), and SIMPLE IRA Plans  The transaction will see Ascensus handling record-keeping, client servicing, and administration for the acquired plans, with customers retaining access to Vanguard's mutual funds. This deal is particularly significant for small businesses, as Vanguard was one of the larger Solo 401k plan providers. Ascensus, a leader in tax-advantaged investment and savings solutions, has entered into an agreement to acquire Vanguard’s specific small busi ..read more

The Biden Administration published its second attempt at broad student loan forgiveness in the Federal Register on April 17, 2024. Although more targeted than the first attempt, which was blocked by the U.S. Supreme Court, the new proposed regulations would forgive all or part of the student loan debt of 27.6 million borrowers, nearly two-thirds of the total number of borrowers.  The draft regulations feature nine separate waivers (a waiver is a specific situation that will allow for student loan forgiveness). The waivers include situations where the borrower’s current balance exceeds t ..read more

Around 80% of mortgage borrowers in the United States have an escrow or impound account. In fact, these accounts are required by some lenders. These accounts hold money on behalf of the buyer to ensure certain payments are made on time - typically homeowners insurance and property taxes. This can help reduce liability and risk lenders take on, giving buyers access to better financing options. What is an escrow or impound account? Is it required? More importantly, how do you cancel an escrow or impound account if you don’t actually need it? This article will dive into all of those questions ..read more

Domain Money is a fee-only financial advising platform that connects users with Certified Financial Planners (CFPs) for financial planning sessions. While it’s not cheap, it could be a good value for some people who want help understanding their financial situation and creating a long-term plan for future savings and investments. The Domain Money team consists of four CFPs. Three plans are available, ranging from a single 90-minute session to a comprehensive six-month financial review. It offers a 100% satisfaction guarantee, so if the service doesn’t meet your expectations, you may be able ..read more

Ownwell is a service that helps you appeal and lower your property taxes. The cost of owning a property goes far beyond the purchase price. Even if you pay off your mortgage, you’ll still be on the hook for property taxes. Unfortunately, an unfair assessment could push your property tax costs higher and take a big bite out of your budget. As a property owner, you have the right to appeal the assessed value of your home, which can help you lower your property taxes. But the time-consuming process forces homeowners to jump through many hoops. That’s where Ownwell comes in to negotiate for you ..read more