Fin Logix Connect

Adult children who financially support a parent may be able to claim that parent as a dependent on their federal tax return. Generally, the parent must have income below an annual limit, and the child must provide more than half their support. Eligibility can unlock credits, deductions and favorable filing…

Social Security’s annual cost-of-living adjustment (COLA) raises monthly benefits, but most Medicare Part B enrollees have their premiums deducted from that same payment. When premiums rise, they absorb part of the increase, leaving less extra money than the COLA percentage suggests. Knowing how the deduction, hold-harmless protections and income-related surcharges…

American households are feeling the squeeze of inflation that has remained stubbornly above the Federal Reserve’s 2% target since the pandemic, and grocery prices have been a particular pain point in recent years. The most recent consumer price index (CPI) data from the Bureau of Labor Statistics showed that overall…

U.S. oil giants raked in billions of dollars in profits in the third quarter as oil prices surged amid supply constraints caused by conflicts around the world, contributing to higher prices at the pump for consumers. ExxonMobil, the largest U.S. oil producer by market capitalization, reported having more revenue from…