Bias in tax code perpetuates racial wealth gap
America’s progressive tax system is supposed to tax more as your income rises, with people with similar incomes paying the same rate. That’s not true, according to one tax lawyer and professor, who analyzed the history of the American tax system and how it can Read More …
Rent too high – nationwide
It’s time to pull out Jimmy McMillan‘s slogan for his 2010 New York mayoral run: “The rent is too damn high.” But today, the slogan applies across the country as renters feel the squeeze. The median monthly rent in May hit $1,849, a 26.6% increase since Read More …
Juneteenth: Neo-slavery & Jim Crow
Juneteenth is a somber reminder that the institutions and systems that kept free Black citizens enslaved more than two years after the Emancipation Proclamation – allowing Texas plantation owners to delay freedom so freed slaves could bring in the harvest – still exist today. In Read More …
Disability insurance protects your paycheck
One reminder the pandemic has brought up is that an illness can develop into a long-term disability that can strike both old and young people. But a large portion of Americans aren’t financially prepared for this not-too-uncommon outcome, leaving their families vulnerable. Almost half of Read More …
Life insurance to close the racial wealth gap
Black Americans are more likely to carry life insurance than the average American, but their coverage does little more than provide for funeral costs. Fifty-six percent of Black Americans have life insurance, according to a study by LIMRA and Life Happens, compared with 52% of all Americans. Read More …
Tax Time: Last minute tips
Yahoo Finance Live
Black homeownership down from a decade ago
From Yahoo Finance Live
Tax implications for NCAA athletes using NIL
Now that college athletes can earn money off their name, image and likeness (NIL) after the NCAA adopted new rules in June 2021, they may find a costly surprise from Uncle Sam. Money made off of social media accounts and perks like free shoes, a clothing allowance, Read More …
Inflation, bad weather to blame for rise in homeowners insurance
Just like almost everything else, the cost of homeowners insurance is rising. Homeowners who purchased residential and vacation homes in natural disaster prone areas are really going to feel a pinch on their wallets. Approximately 45% of pandemic homebuyers purchased vacation and second homes in Read More …
Influencers and gamers: The tax man cometh
Hello, gamers and social media influencers, the tax man is coming for your earnings. Donations, tips, subscriptions, partnerships, and merchandise revenue you made last year are all taxable income. And if it’s your minor son or daughter racking in the gains, you could be the Read More …
Car insurance premiums increase with inflation
Two years after issuing billions of dollars in rebates and discounts during the pandemic, car insurers are now raising premiums for their customers. The Progressive Corp.’s subsidiaries received approval for 38 rate increases across 10 states in November, while regulators in 13 states okayed 20 rate increases Read More …
Transitions: Exploring Opportunities 2020
In the middle of a pandemic and a civil rights movement (Black Lives Matter), I experienced much pain but also in the midst of the pain, moments of joy. How and why this happens is beyond me. What I have learned is to live in Read More …