Withholding tweak could boost your take-home pay, says Scott Bessent

1 min read
Source: Yahoo Finance
Withholding tweak could boost your take-home pay, says Scott Bessent
Photo: Yahoo Finance
TL;DR Summary

Treasury-related remarks from Scott Bessent urge workers to review and adjust their tax withholding to automatically increase take-home pay on a weekly or monthly basis, leveraging the Working Families Tax Cuts. The White House notes an improving refunds season (avg refunds over $3,400) with millions claiming deductions like No Tax on Tips, No Tax on Overtime, and senior benefits. For those with extra cash, the piece recommends deploying it prudently: invest in broad-market index funds (e.g., S&P 500), use micro-investing apps like Acorns, explore real estate crowdfunding (Mogul), and park funds in high-yield cash accounts (Wealthfront) with strong APYs and FDIC protection to grow wealth over time.

Share this article

Reading Insights

Total Reads

1

Unique Readers

25

Time Saved

17 min

vs 18 min read

Condensed

97%

3,437107 words

Want the full story? Read the original article

Read on Yahoo Finance