Category: USA
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IRA Contribution Limit Remains at $7,000 for Traditional and Roth Accounts
The Internal Revenue Service (IRS) has announced that the contribution limit for both Traditional and Roth IRAs will remain unchanged at $7,000 for the upcoming tax year. This decision, consistent with recent…
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Americans Now Believe a $1.7 Million Retirement Savings Is Needed for Comfort
Recent surveys indicate that a growing number of Americans now believe they need approximately $1.7 million in retirement savings to enjoy a comfortable retirement. This figure reflects shifting perceptions driven by rising…
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Child Tax Credit Returns: Eligible Families Can Receive Up to $2,200 Per Child Next Year
The Child Tax Credit (CTC) is returning to its previous enhanced structure, providing eligible families with substantial financial support starting next year. Under the updated program, families can receive up to $2,200…
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Canada Introduces New Driving License Regulations for Seniors Over 70 Starting October 2025
Starting October 2025, Canada will implement a new set of regulations affecting drivers over the age of 70. The updated rules aim to enhance road safety by requiring seniors to undergo more…
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Married Seniors Can Reduce Taxable Income by Up to $12,000 Using New Deduction
Married seniors facing rising healthcare costs and fixed incomes may find relief through a newly expanded tax deduction, allowing them to reduce their taxable income by up to $12,000. This change, introduced…
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Tipped Workers Receive New Tax Deduction Allowing Up to $25,000 in Reported Tips Beginning in 2025
Starting in 2025, tipped workers across the United States will benefit from a significant tax deduction that allows them to report up to $25,000 in tips annually. This new policy aims to…
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Understanding the Side Hustle Threshold: You Need Over $20,000 in Payments to Receive a 1099-K
Many gig economy workers and side hustlers may not realize that their earnings could trigger tax reporting obligations under the 1099-K form. The Internal Revenue Service (IRS) requires payment processors to issue…
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Eligible New Yorkers Receive Up to $400 Inflation Refund Checks by Mail
Eligible residents of New York State are beginning to receive up to $400 in inflation relief checks delivered by mail as part of the state’s ongoing efforts to cushion the economic impact…
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U.S. Implements New Driving License Requirements for Seniors Starting October 2025: Essential Updates for Drivers Over 70
Starting October 2025, the U.S. will introduce new driving license requirements specifically aimed at drivers over the age of 70. This policy shift responds to growing concerns about senior road safety and…
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Cash App Users Eligible for Up to $147 in Settlement Refunds Following $12.5 Million Texting Lawsuit
Users of Cash App who received unwanted text messages may be eligible to claim a portion of a $12.5 million settlement stemming from a class-action lawsuit. The legal case, centered on alleged…
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