Though we all groan about having to pay taxes, the government is nice enough not to tax us on everything we earn. There are two big buckets of deductions the government gives us: The first are called "above the line," and the second are called "below the line," and those are what we'll cover here.
In 2009, Americans missed out on $800 million in education-related tax breaks. If you're paying tuition, make sure you get your share: Before you complete the take-home final that is your 2013 tax return, review the four most-lucrative tax breaks for college students.
We're a nation that loves to drive, but in recent years, the soaring price of gas and the stuttering economy have kept our cars in our driveways more often. However, according to the Chase Freedom Lifestyle Index, our spending on road trips seems to be rising again.
On May 12, displaced workers in eight states lost their unemployment benefits from 13 to 20 weeks earlier than expected. So far this year, 400,000 Americans have lost their benefits prematurely, and next month, 70,000 more will.
High hospital costs seem to be a fact of life that most Americans have reluctantly come to accept. What most people don't realize, however, is that not all of those charges are legit: Many medical bills contain fraudulent charges.
According to the nonpartisan Government Accountability Office, if America gets rid of its $1 bill and replaces it with a dollar coin, the U.S. will save $5.5 billion on printing costs over the next 30 years. That's a whole lot of dollars.
Prescription-drug prices have been outpacing the growth in prices for other medical products and services, according to a study from the Government Accountability Office this week. Which drugs have seen the biggest hikes?
When some new members of Congress recently said they oppose raising the U.S. debt limit, it triggered warnings of "catastrophic consequences." Indeed, the result wouldn't be pretty. But here's what's at stake as the country's debt burden swells every year.
Respected economists like Paul Krugman claim deficits don't matter, while other equally well-regarded economists such as Kenneth Rogoff say high debt levels lead to much lower growth. As the deficit grows, the debate is anything but academic.
