The threat of a recession has persisted for over a year. With this uncertainty, many businesses may be considering layoffs. If you're seeing clues that your employer might slash jobs and you're worried about being on the firing line, it's smart to prepare. Here are five personal finance tips you can use … just in case.
1. Increase Savings
President Biden signed the Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) on December 29, 2022. It's a critical part of the omnibus funding package that builds on the retirement-saving opportunities provided by the original SECURE Act of 2019.
President Biden signed the Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) on December 29, 2022. It's a critical part of the omnibus funding package that builds on the retirement-saving opportunities provided by the original SECURE Act of 2019.
The Employee Retention Credit (ERC) was a valuable tax credit that helped employers that kept workers on staff during the height of the COVID-19 pandemic. While the credit is no longer available, eligible employers that haven’t yet claimed it might still be able to do so by filing amended payroll returns for tax years 2020 and 2021.
There have been three recent developments in the cryptocurrency arena:
In 2023, many states and localities will increase their minimum wage amounts. In some areas, the amounts paid to tipped employees may also increase and overtime salary thresholds may also change.
Many self-employed individuals are eligible to make annual contributions to Roth IRAs, despite having healthy earnings from their businesses. But some haven't yet taken advantage of this retirement saving strategy.
