“The government has about 48 hours to fix a-soon-to-be-irreversible mistake”: Bill Ackman warns some businesses may not be able to meet payroll after SVB’s failure

“The government has about 48 hours to fix a-soon-to-be-irreversible mistake. By allowingSVB Financial to fail without protecting all depositors, the world has woken up to what an uninsured deposit is ...

Silicon Valley Bank collapse: What should you do if your bank closes down?

Silicon Valley Bank, which helps fund technology startups backed by venture-capital firms, has closed its doors. The California Department of Financial Protection and Innovation made the decision to c...

Biden’s budget wants tax hikes, but expiring Trump tax cuts are the big showdown

For five years, most Americans have seen lower income-tax rates and tapped a bigger standard deduction, but without congressional action before the end of 2025, the rules could still revert to levels ...

‘I’m not at rock bottom yet’: I have a serious gambling addiction. I’ve maxed out my credit cards and racked up $100K in debt. Can you help?

I’ve gotten to a point where I need serious help for my gambling addiction, though I’m not at rock bottom yet. I am a journeyman-level employee with about 20 years’ experience at my current job. I am ...

‘I’m holding my breath’: What will happen if the Supreme Court blocks Biden’s student-loan forgiveness plan?

As the Supreme Court debates President Joe Biden’s student-loan forgiveness plan, Americans’ consumer debt continues to rise — and more of it is past due. For Shanna Hayes, 34, who was recently laid o...

‘I don’t use cash’: I’m 70 and my home is paid off. I live off Social Security, and I use a credit card for all my spending. Is that risky?

I am now 70 years old and partially disabled. I am fully retired, living on Social Security and Supplemental Security Income. Obviously, I have limited income. I am financially stable. I have no debts...

My fiancé and I are 60. His adult daughter is opposed to our marriage — and insists on inheriting her father’s $3.2 million estate. How should we handle her?

What advice would you give to a widow and widower considering marriage on how to manage finances — and deal with adult children? We are both 60 years old and plan to work a few more years, mostly for ...

I’ll inherit $40,000 from my grandmother. Should my husband and I boost our kids’ college savings accounts, or pay off credit cards and student loans?

After a terrible battle with dementia, my grandmother died a few weeks ago. She did not leave much, but I will — along with my siblings — receive about $40,000 in life insurance. I am trying to figure...

This restaurant chain offers the worst bang for your buck, customers say

When it comes to dining out, customers say Shake Shack SHAK, +0.09% has gotten far too pricey for what it’s dishing out. And that’s despite the fact that it’s even not the most expensive of the fast-c...

‘I am trying to feverishly save for retirement’: My fiancé pays $1,700 a month to the IRS and owes student debt. We’re both 57. Should I marry him for his Social Security and pension?

Dear Quentin, My fiancé and I met at age 42 after being recently divorced. We have (now-grown) children from our previous marriages, but none together. We keep our finances separate. Neither one of us...

Where and how to charge an electric car for free, and will the IRS give me a tax break on my Super Bowl gambling losses?

Hi, MarketWatchers. Don’t miss these top stories. Skip the candy and flowers on Valentine’s Day for this valuable gift that won’t cost you a penny Your time and attention is much more meaningful and b...

IRS says people in most states who got inflation-relief payments don’t have to report it on their taxes. Here’s where.

The IRS is not going to tax payments from most of the states that cut checks to residents last year in order to help them defray rising living costs. This week, the IRS has been trying to determine if...

‘Cash is the cool kid on the block’: High-yield savings accounts, Treasury Bills, money market funds, and CDs — here’s where your cash can earn up to 4.5%

Cash isn’t just the dollar bills you put in your pocket — in this market, it might seem to be a patch of steady ground. There are multiple options: People can put their money in high-yield savings acc...

‘And then 2022 happened’: I borrowed $500,000 from friends and family to invest in the stock market, foolishly promising a 10% return. Can I avoid legal action?

Dear Quentin, I am a budding options/futures trader with my own sole proprietor investment business.  Heading into 2022, I took on a large cash infusion of $500,000 from friends and family under the g...

‘I am watching my inheritance evaporate’: My brother and sister constantly hit our parents up for money. What can I do to stop this?

I am 46 and single. I have a good job and own my own home but live modestly. I have been fortunate not to have had to ask my parents for anything over the years. My brother and sister, by contrast, ha...

Retiring in a bear market can be catastrophic — working one more year can make a huge difference

Timing, apparently, is everything. Especially when it comes to retirement. Retiring in a bear market can harm your portfolio for the long-term, even if the market eventually recovers, according to a n...

Dear Tax Guy: I just started renting my house out on Airbnb. What income-tax deductions can I claim on this property?

I just started renting my house out on Airbnb. I started a limited liability company to keep the expenses separate from personal ones. I am trying to figure out what would be considered tax deductions...

‘My stepmother has been less than ethical’: I suspect my stepmom removed me as beneficiary from my late father’s life-insurance policy. What can I do?

Dear Quentin, My dad passed away in March 2019. My stepmom told me I had an inheritance from my dad.  She ceased communication with me after my dad passed away. I reached out to the Department of Fina...

Opinion: Why are my investments in a rut? That’s the way Wall Street wants it.

The Wall Street establishment doesn’t want you to read this article, and I’ll tell you why. If you’re an investor and not getting all the returns you deserve, there are lots of possible reasons. Perha...

My job is being eliminated and I will get a severance package. Is that considered income for IRS limits on Roth IRA contributions?

I know my job is being eliminated at the end of March 2023. I will receive a severance package paid out over a period of almost one year. I understand I will not be able to make 401(k) deductions from...

White families are reaping over 90% of the benefit from this powerful tax rule

Tax season is starting for all Americans — but the tax code’s provisions play out very differently for white families compared to families of color, new research says. The tax benefits from some of th...

Scammers are out to get your mortgage money and even your home. Here’s how to fight them off.

We’ve all seen the email scams: “This is a genuie request.” “Your lendar has detected an unpaid sum.” “I’m a prince and I need your help.” Digital fraud has become highly sophisticated and, according ...

Retirement may be bad for your brain. Is working longer the solution?

When we retire from our jobs we may be giving up more than staff meetings, desk lunches and a paycheck. The social interaction and mental challenges found through work can be good for our mental healt...

Households earning $100,000 or more are cutting spending more aggressively. What’s going on?

We want to hear from readers who have stories to share about the effects of increasing costs and a changing economy. If you’d like to share your experience, write to [email protected]. Ple...

JPMorgan Chase, Bank of America and Wells Fargo earnings show the good, the bad and the ugly of people’s finances. So how are they holding up?

Friday’s wave of big-bank earnings gives an important glimpse into Americans’ finances amid high prices, rising interest rates and recession worries. At first glance, most consumers appear to be keepi...

IRS says ‘Tax Day’ will be different this year — put these important tax dates on your calendar

It’s not too early to start thinking about your 2022 income-tax return, if you can bear the thought. That’s because the tax-filing season is scheduled to start on Monday, Jan. 23, the Internal Revenue...

The ‘best job in America’ pays over $120,000 a year — and offers a low-stress, healthy work-life balance

We’ve had the great resignation, quiet quitting, resistance to going back to the office — and now? It turns out people are looking for happiness, stability, flexibility and a good salary. In 2023, in ...

‘Our kids say our small house is embarrassing’: My husband and I earn $160K, have $1 million in retirement savings, cook at home and drive an old Honda. Are we missing out? 

I’m a pretty fortunate person who lives a pretty fortunate life, and our annual household income at $160,000 is high compared to the rest of the world. However, we are still pretty frugal — we cook at...

IRS wraps up paying people this lucrative pandemic-era tax break. Here’s how much money they can expect — and why they’re getting it.

Nearly two years after lawmakers temporarily changed tax rules in the middle of the filing season in order to exclude a major chunk of jobless benefits from federal income tax, the Internal Revenue Se...

Noncompete agreements will be a thing of the past for workers — from hairstylists to executives — if federal regulators have their way

Employers would be banned from making staff sign noncompete clauses, according to proposed rules that federal regulators say would boost worker pay and end a major drag on people who wish to change jo...

Why a stock market obsessed with the Fed’s inflation fight should focus on Main Street jobs in 2023

Fortunes on Wall Street this year could hinge less on what’s happening to high-paid workers in San Francisco’s reeling technology sector and more on a familiar part of American life: the working class...