income

Consumer Spending Up, Income Posts Largest Drop in 20 Years

U.S. consumer spending rose in January as Americans spent more on services, with savings providing a cushion after income recorded its biggest drop in 20 years. The Commerce Department said on Friday consumer spending increased 0.2 percent in January.

Consumer Spending Up 0.2%, but Income Has Best Gain in 8 Years

U.S. consumers increased their spending in December at a slower pace, while their income grew by the largest amount in eight years, the Commerce Department said. Income surged because companies rushed to pay dividends before income taxes increased on high-earners.

Your Year-End Tax To-Do List: A 5-Step Plan

Nobody likes to spend the holidays thinking about taxes. But by spending a little time now, you can potentially give yourself a nice reward when your IRS refund comes next year. Here are five ways you can uncover tax savings between now and New Year's Eve.

Obamacare Taxes: How the Changes Will Impact Your Income

Obamacare, aka the Affordable Care Act, has created its share of controversy among both supporters and opponents. Expect the arguments to get even louder once taxpayers start having to pay for it. In a couple of months, two tax increases tied to the health care reform law will take effect.

The 10 Happiest Countries in the World

Once again, 24/7 Wall St. has examined the OECD's report on life satisfaction. And once again, the United States fails to make the top 10 happiest nations in the world. Which countries do? Some may surprise you.

3 Simple Tax Terms That Have Been Redefined to Confuse Us

Is the American tax code designed to be confusing? At more than 70,000 pages, its complexity is hard to overstate. But forget its vastness: Even when it comes to its most basic terms, the IRS seems determined to muddy the waters of meaning. To help you out, we've unpacked a few of the most weaselly weasel words.

Romney's Best Tax Break: Let's Talk 'Carried Interest'

Mitt Romney paid a lower tax rate on his $21.6 million income in 2010 than the average U.S. family. It's no secret how: He made his money from investments, not wages. But even people who favor low capital gains taxes might not approve if they understood more about a neat little income category he benefited from called "carried interest."

Poll: Most Americans Say $150,000 a Year Makes You Rich

More than half of those recently polled by Gallup said an income of no more than $150,000 would qualify that person as rich. When asked how much money per year would be necessary for them to consider themselves "rich," 53 percent mentioned an income of $150,000 or less, and 71 percent said an income of $300,000 would be enough.

As Holiday Season Begins, a Mixed Bag of Economic News

The news from the Commerce Department's Bureau of Economic Analysis was mixed Wednesday. Consumer spending rose in October, but just barely. Incomes were up a bit, but savings did too. And employment figures were just conflicted.

4 More Smart Tax Moves for the Holiday Season

Thanksgiving's still two weeks away: You're getting ready for Black Friday, not April 15. But all those one-day deals pale next to what you could save on your taxes by taking a few smart steps before Dec. 31. In part two of this report, we offer four more ways to help your bottom line on April 15.

Assuring Half Your Income When Your Job Goes Away

State unemployment insurance provides money to out-of-work adults, but for most people, those checks are hardly enough to cover the bills. Enter IncomeAssure, a supplemental unemployment insurance policy that lifts your benefit to 50% of your former income for 24 weeks. Is it a product you should consider?

What Can You Get for $5? On Fiverr, Almost Anything

If all you need is $5 worth of expert help, Fiverr has your number. For the price of a fast-food combo meal, this online marketplace will connect you with someone to proofread your business plan, repair an HTML bug, or whatever you might need. With 500,000 listings, it seems almost any service can be sold in $5 increments.

Should You Save or Earn Your Way Rich?

It's a contentious personal finance debate: To stay out of debt and get rich, should we focus on controlling our small purchases, or put most of our effort into making the big gains in areas like earnings? DailyFinance asks three of the Web's most popular personal finance bloggers for their views.

Freedom, Not Money, Makes Us Happiest

Collective hand-wringing about the economy and poll after poll showing that Americans are pessimistic about their finances misses a key point: Money can't buy you happiness.

Are Maiden Names Really Worth $500,000?

Forget about cash-stuffed wedding envelopes. A Dutch study suggests brides could pick up an extra half million dollars by doing nothing -- specifically, by not changing their names. Women who kept their maiden names were judged to be more professional, were more likely to win a job, and attracted higher pay, the study showed.

What Will You Do With Your Tax Refund?

For more than three-quarters of U.S. taxpayers, the silver lining of tax season is the refund check. This year, the IRS says the average refund is just under $3,000, and many people will use theirs to pay off debt or cover expenses. But for others, the arrival of that money will mean an opportunity to save or invest.