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5 Tax Tips for Older Adults

Published Fri, 07 Feb 2025 11:46:06 GMT

The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.More than half of older taxpayers (57%) are worried they’ll have to pay more taxes this year because of the 5.9% Social Security cost-of-living adjustment in 2022, according to a January survey by The Senior Citizens League, a nonpartisan seniors group.Taxes for the over-65 set can feel more complicated for a variety of reasons: There are often multiple streams of income, some retirees still work part time, and people may be managing required minimum distributions from retirement accounts.“It can happen that people have more income in their later life than they did when they were working,” says Barbara O’Neill, a certified financial planner in Ocala, Florida, and the author of “Flipping a Switch: Your Gui...

Largest Source of Free Money for College Can’t Keep Up

Published Fri, 07 Feb 2025 11:46:06 GMT

Many years ago, one federal grant could cover all tuition and fees for the most at-need college students. And though the rise in the cost of college has slowed considerably in the past decade, the Pell Grant’s impact has dwindled to a fraction of what it once was.My mother relied on the Pell Grant — the largest source of federal grant aid — in the 1980s, raising three kids alone and working full time. This was before online classes, and she commuted both to work and then to the next town over for school. Back then, the maximum Pell Grant would cover more than the average tuition and fees at public, four-year institutions. In the early 2000s, I did the same, chasing my undergraduate degree while working in retail and raising my daughter as a single mom. Then, the maximum Pell Grant covered 91% of those costs. Now, a couple of decades later, it covers only 68%. The Pell is not just for non-traditional students like my mom and me, but lower-income traditional students...

Supervisor pass 'no confidence' vote against Nathan Fletcher

Published Fri, 07 Feb 2025 11:46:06 GMT

SAN DIEGO — The San Diego County Board of Supervisors passed a vote of "no confidence" against Nathan Fletcher in a move to pressure him to resign from his position immediately.The vote was held during an emergency special meeting Tuesday morning at the County Administration Center.The resolution passed unanimously with Supervisors Joel Anderson, Jim Desmond, Terra Lawson-Remer and Nora Vargas voting in favor. Fletcher was not present at the meeting.The board does not have the power to outright remove Fletcher from office, so the vote is essentially a move to put pressure on him to resign immediately, instead of the May 15 date he had previously announced.The full letter requesting the vote of no confidence can be viewed here.Fletcher has been accused of sexual assault and harassment in a lawsuit by a former Metropolitan Transit System employee.“Because Supervisor Fletcher is not here, not available to respond to questions and concerns by the public and media about his actions,” Var...

Man sought in daytime sexual assault on TTC bus in Scarborough

Published Fri, 07 Feb 2025 11:46:06 GMT

Toronto police are searching for a man that allegedly sexually assaulted a 17-year-old woman on a TTC bus in Scarborough.On April 5, investigators received a call for a sexual assault in the Midland Avenue Lawrence Avenue East area.It’s alleged that around 3:30 p.m., a 17-year-old woman boarded an eastbound TTC bus in the Pharmacy Avenue Lawrence Avenue East area. Police said a man later boarded at the Lawrence East SRT station.The man sexually assaulted the woman and then exited the bus in the Markham Road Lawrence Avenue East area.The male suspect is described as 5-foot-11 and was last seen wearing a blue surgical mask, black jacket, grey sweater with a logo on the chest, Nike running shoes, and a black Under Armour backpack.

Request to remove newspaper article among Ottawa’s queries to social-media giants

Published Fri, 07 Feb 2025 11:46:06 GMT

OTTAWA — Newly released documents show that a federal government department asked Facebook and Twitter to delete a newspaper article that it felt contained errors — but both social-media giants denied the request.The request to remove social-media posts that linked to an unspecified Toronto Sun article came from a director of communications at Immigration, Refugees and Citizenship Canada on Sept. 27, 2021.Documents say that Immigration and Refugee Board of Canada staff believed the article contained “serious errors of fact risking (and) undermining public confidence in the independence of the board as well as the integrity of the refugee determination system.” The board did not respond to questions from The Canadian Press.The social-media companies ultimately said that they were denying the request because the article wasn’t their original content.The Toronto Sun did not immediately respond to a request for comment.Documents tabled in Parliament detail 214 examples...

Greece: Thaw with Turkey should continue after elections

Published Fri, 07 Feb 2025 11:46:06 GMT

ATHENS, Greece (AP) — Greece said Tuesday it would welcome expanded cooperation with Turkey after both countries hold elections next month ‒ including on energy issues that have been at the heart of decades-old disputes.“Greece is always looking for ways to have honest and sincere cooperation with Turkey,” Foreign Minister Nikos Dendias said after talks in Athens with his Egyptian counterpart, Sameh Shoukry.Greek and Turkish officials have held a series of high-level meetings in recent weeks, in the wake of devastating earthquakes in southern Turkey in February. They promised to shelve disputes that have caused repeated rounds of tension and even the risk of war over decades.Dendias said Athens would welcome new members of an association of nations in the eastern Mediterranean who cooperate on natural gas development. Turkey is not currently a member.“I want to make clear that we would welcome the participation of other countries in this forum, but on one obvious condition: Respect ...

Italy cuts 2024 growth forecast to 1.5%, citing rates, war

Published Fri, 07 Feb 2025 11:46:06 GMT

ROME (AP) — The Italian government on Tuesday cut its economic growth forecast for next year, taking into account the negative impact of rising interest rates, the effects of the war in Ukraine and localized crises in the international banking and financial system.In its Economic and Financial Document, approved by a cabinet meeting on Tuesday, the Italian Treasury forecast that gross domestic product will grow by 1.5% in 2024, down from a previous projection of 1.9% made in November.The 2023 GDP forecast was instead raised to 1% from a previous 0.6%.“We are facing big challenges, from climate changes to a demographic decline in the Italian population, but also significant opportunities to open a new phase of growth for our country,” Economy and Finance Minister Giancarlo Giorgetti said.The Treasury noted that the Italian economy is showing a “significant dose of resilience and vitality.” The latest indicators — including confidence indices for families and businesses — show that in...

Trudeau announces new military aid, bilateral agreements during Ukraine PM’s visit

Published Fri, 07 Feb 2025 11:46:06 GMT

OTTAWA — Prime Minister Justin Trudeau is announcing a range of military, economic and cultural measures to support Ukraine in its war with Russia.That includes the provision of assault rifles, machine-guns and ammunition as well as an update to the existing Canada-Ukraine free trade deal.Also, the signing of a new agreement will make it easier for Ukrainian and Canadian youth to work and travel in both countries.Trudeau says Canada is imposing new sanctions on Russian and Belarusian authorities and organizations in retaliation for the ongoing invasion.He announced the new measures while hosting Ukrainian Prime Minister Denys Shmyhal in Toronto.Shmyhal used the occasion to thank Canada for its support since Russian forces invaded in February 2022, which has included billions of dollars in economic and military aid. This report by The Canadian Press was first published April 11, 2023.The Canadian Press

Leaning on faith, Louisville mourns victims of mass shooting

Published Fri, 07 Feb 2025 11:46:06 GMT

LOUISVILLE, Ky. (AP) — They went to their churches on the evening after Easter — to cry, to light candles, to ask God why, on this holiday of rebirth, they must mourn so much death. Many in Louisville turned to their faith for impromptu services Monday night, hours after a gunman killed five of his coworkers at Old National Bank downtown and injured eight others. Hundreds gathered at Holy Trinity Catholic Church, where one of the victims, Joshua Barrick, was an active member. His family sat in the front pews, and fellow congregants hugged them and wept. “He was so well-known, he made himself known,” the Rev. Shayne Duvall said. “This community is mourning. We’re trying to wrap our heads around it.”Barrick, 40, was a senior vice president at Old National Bank, and Duvall remembered him as a big guy with a bubbly personality. He had a wife and two young children, one girl and one boy, who attended the parish’s grade school. Barrick coached basketball for first- and second-graders — a ...

Walmart closing 4 locations in Chicago

Published Fri, 07 Feb 2025 11:46:06 GMT

CHICAGO —  Walmart plans to close four stores in Chicago by mid-April, the company announced Tuesday.The following stores will close on Sunday, April 16:RELATED: What’s next as Walmart closes in 3 Chicago suburbs?The Chatham Supercenter, the Walmart Health Center, and the Walmart Academy, 8431 S. Stewart Ave. Kenwood Neighborhood Market, 4720 S. Cottage Grove Ave. Lakeview Neighborhood Market, 2844 N. Broadway St. Little Village Neighborhood Market, 2551 W. Cermak Road Officials with the department store cited profit margins as the reasoning behind the closing."The simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago – these stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years. The remaining four Chicago stores continue to face the same business difficulties, but we think this decision gives us the best chance to he...