In a significant shift for high earners, the Internal Revenue Service (IRS) has introduced a new option for retirement savings that allows individuals to make additional contributions to their Roth IRAs without the usual pre-tax restrictions. Starting this year, eligible taxpayers can contribute up to $7,500 to their Roth accounts, even if they have maxed...

In an ambitious move to tackle a staggering $1 billion budget deficit, the mayor of the city has proposed the elimination of the current tip law, which has been a longstanding aspect of the local economy. This law, which allows restaurants and service providers to pay their employees below minimum wage, has drawn criticism for...

The ongoing government shutdown is having a profound impact on daily life in the Washington, D.C. region, particularly in the realms of child care and commuting costs. As federal offices remain closed, thousands of child-care slots are disappearing, leaving many families scrambling for alternative solutions. Meanwhile, commuters are feeling the pinch as transportation costs surge...

The ongoing government shutdown is exerting significant pressure on families and commuters in the Washington, D.C. region, with child-care facilities closing and commuting costs soaring. As federal agencies suspend operations, many child-care centers that rely on government funding are shutting their doors, leaving parents scrambling for alternative arrangements. Meanwhile, rising fuel prices and transportation fees...

In a significant move to bolster national security, the Department of Homeland Security (DHS) has awarded $40 million in grants to Washington, D.C. This funding is part of a broader initiative aimed at enhancing security measures across the United States. As states scramble to secure their own funding, many are left wondering how this substantial...

Homeowners across the United States may soon benefit from significant tax relief thanks to a new proposal aimed at enhancing the State and Local Tax (SALT) deduction. The recent legislative initiative, commonly referred to as the “Big Bill,” seeks to increase the SALT deduction cap from $10,000 to $15,000. This change could allow homeowners to...

Families in Guam are set to benefit from a significant increase in their Supplemental Nutrition Assistance Program (SNAP) benefits, with monthly allowances rising by an average of $1,465. This adjustment, aimed at alleviating food insecurity among residents, comes as part of a federal initiative to address the rising cost of living and inflationary pressures. Eligible...

Recent changes to the age rules governing Social Security Disability Insurance (SSDI) could significantly impact financial support for individuals over the age of 50. Experts warn that these adjustments could lead to monthly payments being reduced by hundreds of dollars for those who rely on SSDI benefits. The modifications are part of a broader effort...

Recent changes to the Public Service Loan Forgiveness (PSLF) program have sparked concerns among educators, as the new regulations may inadvertently extend their student debt by thousands of dollars. As teachers across the nation navigate the complexities of their loan repayment options, many are realizing that the revised eligibility criteria could delay their path to...

As food prices continue to rise, many families are feeling the pinch. The Supplemental Nutrition Assistance Program (SNAP) has increased its benefits, allowing eligible participants to receive up to $994 per month. This increase is a crucial lifeline for low-income households facing the challenges of inflation and skyrocketing grocery costs. However, maximizing these benefits requires...