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Mortgage Rates Hit 5.78%, Highest Level Since 2008

U.S. mortgage rates have recently hit their highest level since November of 2008.  This is the latest signal of turmoil tied to the Federal Reserve’s attempts to cool inflation.  According to a report published by Zillow, the average 30-year … Continue reading

 

Car Manufacturers Pushing for Congress to Lift Electric Vehicle Tax Cap

Recently, many of the major electric vehicle producers have asked Congress to lift the cap on how many individuals can receive the Qualified Plug-In Electric Vehicle (PEV) Tax Credit for purchasing a hybrid, or fully electric vehicle. As it now … Continue reading

 

401(k) mistakes to avoid when starting a new job

In today’s day in age, it isn’t uncommon for an employee to hop from multiple different employers, with the average American changing jobs over a dozen times throughout their career. When making the jump to a new job, it is … Continue reading

 

IRS has Begun Imposing a Tax on Venmo Income

Venmo has become an increasingly popular way of payment due to its ease of use and extremely user-friendly app. This being the case, many entrepreneurs and small business owners are using Venmo and PayPal as one of their primary payment … Continue reading

 

U.S. Treasury Prohibits Russia’s Access to Services

The United States continues significant and unprecedented action in response to Russia’s invasion of Ukraine by imposing severe economic costs that will have both immediate and long-term effects on the Russian economy and financial system. On May 8, 2022, the … Continue reading

 

New York State To Mail Out Homeowner Tax Rebate Credit Checks

Homeowners in New York State should start checking their mail for a homeowner tax rebate credit. The one-year program was implemented by the state to give homeowners some property tax relief in 2022. The checks were originally scheduled to roll … Continue reading

 

Mortgage Applications Lowest in 22 Years

Following roughly a two-year stretch of the housing market being extremely hot, it seems as if it is finally cooling off.  This is following a report stating that mortgage applications fell to the lowest level in 22 years.… Continue reading

 

IRS Receiving Pushback on its Stark Proposal

The retirement industry just got some shocking news due to a new proposal put out by the IRS. Last February the IRS introduced a new potential rule that states the heirs of retirement accounts must drain those accounts within 10 … Continue reading

 

IRS Continues Dirty Dozen List

The IRS recently released its “Dirty Dozen” list of tax scams to be on the lookout for.  The now popular “Dirty Dozen” is an annual compilation of common scams that taxpayers may encounter at any time, but typically peak during … Continue reading