The exploration of tax evasion has uncovered a notable case involving a scheme termed “The Ultimate Tax Plan,” wherein participants strategically donated interests in their operating businesses to tax-exempt charities. The core purpose of these donations was to evade taxes, as the tax liabilities incurred by these businesses would subsequently…

An employer-sponsored 401(k) serves as an efficient and advantageous method for individuals to save for retirement, particularly when the employer offers such a plan. The 401(k) not only simplifies the saving process through automatic payroll deductions but also provides tax benefits that can enhance retirement savings. The crucial decision for…

Student loans have become a significant aspect of financial life for many Americans, particularly those under 40, with research indicating that approximately 25% of this demographic is actively paying off such debt. In 2023, about 42% of borrowers reported owing at least $25,000, which can be a heavy burden impacting…

Mortgage rates recently saw a slight increase over two consecutive days, with Zillow reporting the average 30-year fixed interest rate at 6.42%, and the 15-year fixed rate at 5.79%. Despite the recent uptick, there is a silver lining: rates have decreased when compared to the previous month. Specifically, the 30-year…

As 2025 approaches, a recent survey by Bankrate reveals a significantly brighter financial outlook among Americans. Following the 2024 elections, the survey, which included nearly 2,500 adults, indicated that 44% of respondents expect their financial situation to improve next year, marking a notable 7 percentage-point increase from the previous year.…

Between March 2022 and July 2023, the Federal Reserve undertook an aggressive strategy by increasing its benchmark interest rate 11 times to combat inflation and stabilize the economy. This resulted in a significant rise in money market account (MMA) interest rates, offering consumers better returns on their deposits. However, this…

In a recent conversation with Dr. Daniel Crosby, the author of “The Soul of Wealth,” I was fortunate to delve into themes not only from his latest book but also gain deeper insights into life’s fundamental needs. While we primarily discussed the contents of “The Soul of Wealth,” Dr. Crosby…

The current landscape of savings account interest rates presents a notable contrast compared to previous years, driven largely by the Federal Reserve’s monetary policies. For much of the last decade, savings account rates have languished at historically low levels. However, after multiple rate hikes initiated by the Fed beginning in…

Today’s certificate of deposit (CD) interest rates are seeing their highest levels in over a decade, largely driven by multiple rate hikes from the Federal Reserve. With a recent cut to the target rate in September, it marks a pivotal time for savers looking to lock in attractive CD rates…

Oklahoma’s real estate landscape has drawn attention due to the soaring home values in recent years, particularly in the Oklahoma City-Edmond metro area and, to a lesser extent, Tulsa. A comprehensive examination of ZIP codes across the state, leveraging data from Zillow’s home value index and the Census Bureau, has…

In the modern landscape of personal finance, individuals increasingly turn to artificial intelligence (AI) chat tools like ChatGPT for assistance with various financial queries. These tools serve as accessible resources for tasks ranging from drafting emails to devising meal plans. However, their role in providing sound financial advice is still…