Brian Beers

1 week ago | bankrate.com | James Royal |Brian Beers

The Standard & Poor’s 500 – the S&P 500 – is the benchmark stock index in the United States, and it’s come to symbolize the stock market as a whole. The S&P 500 has a strong record of returns, averaging about 10 percent per year over long periods, and it’s easy for investors to buy the index through an exchange-traded fund (ETF), getting immediate exposure to all its stocks. Here are the best S&P 500 ETFs as well as some alternative funds based on the S&P 500 for investors to consider.

1 week ago | bankrate.com | Andrea Coombes |Brian Beers

Taxpayers who donate to the causes that are close to their hearts may soon have a new reason to celebrate — and to give: The Senate’s version of the “big, beautiful” tax bill includes a valuable new tax deduction for qualified charitable contributions, worth up to $1,000 for single filers and $2,000 for married filing jointly taxpayers. The exciting part is this: This tax deduction would be available to taxpayers who claim the standard deduction — you wouldn’t have to itemize to benefit.

1 week ago | bankrate.com | Andrea Coombes |Brian Beers

If the massive tax package currently being debated in Congress becomes law, Americans who are 65 and older will enjoy a hefty new tax break: An additional $4,000 to $6,000 drop in taxable income, thanks to a new additional standard deduction. The House version of the tax bill calls for a $4,000 additional deduction, while the Senate version ramps that up to $6,000. The House approved its version in May, and the Senate is working now to bring its version to a vote.

1 week ago | bankrate.com | James Royal |Brian Beers

The GENIUS Act is a proposed bill that regulates one type of cryptocurrency called stablecoins, a $200 billion part of the multi-trillion-dollar cryptocurrency system. The bill’s name stands for Guiding and Establishing National Innovation for U.S. Stablecoins, and its goal is to create a regulatory framework for stablecoins that could allow them to be more widely used in everyday transactions.

2 weeks ago | bankrate.com | Kemberley Washington |Brian Beers

This Father’s Day, millions of dads will likely receive popular gifts like coffee mugs and socks, but they could also be cashing in on some valuable tax breaks from Uncle Sam. “Many dads don’t realize they qualify [for certain tax deductions], so it’s worth double checking, especially if you’re the primary caregiver,” says Paul Miller, a certified public accountant (CPA) and managing partner of Miller & Company in New York City.