Bring in show music, please. >> Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod, another day no government open. >> This is different than than other government shutdowns. I know they all rhyme, but they're not all the same. >> Our Emily Wilkins with the latest out of Washington's blame game. >> I think a lot of it is going to come down to trust. It's going to come down to discussions. It's going to come down to how comfortable senators feel. and the Treasury Secretary Scott Bessent weighs in. >> Yo ...

Many nonprofits are facing financial challenges because of federal funding cuts and termination of contracts. Now, the government shutdown is adding to disruptions just as the most popular season for charitable giving gets underway. Sharon Eper joins us right now with more on your money and upcoming tax changes for donations.Good morning, Sharon. Good morning, Becky. You know, whether it's providing disaster relief, child care, support for seniors, or other needs in local communities, many nonprofits are co ...

Core Insights - The article discusses the differences between Home Equity Lines of Credit (HELOCs) and credit cards, emphasizing their respective advantages and disadvantages for consumers seeking to finance large purchases or manage emergency expenses. Group 1: HELOCs - HELOCs typically offer lower interest rates compared to credit cards, with the average HELOC rate around 8% versus an average credit card interest rate of 22.25% as of May 2025 [4] - Borrowing limits for HELOCs can be significantly higher, ranging from $10,000 to $500,000, depending on home equity, while credit card limits are usually capped at tens of thousands of dollars [10][23] - HELOCs require homeowners to have 15% to 20% equity in their home and involve a draw period of about 10 years followed by a repayment period of typically 20 years [8] Group 2: Credit Cards - Credit cards are generally unsecured, meaning they do not require collateral, thus reducing the risk of foreclosure compared to HELOCs [13][14] - Many credit cards offer 0% APR introductory periods, allowing consumers to transfer existing debt without interest for a limited time, which can be beneficial for debt management [15][16] - Credit cards provide immediate access to funds, with approval often granted within a few business days, unlike HELOCs which can take longer to process [20][21] Group 3: Tax Implications - Interest paid on HELOCs may be tax-deductible if the funds are used for home improvements, provided the taxpayer itemizes deductions [11] - The current rule allowing tax deductions for HELOC interest used for home improvements is set to expire after the 2025 tax year unless renewed [12] Group 4: Financial Flexibility - HELOCs can offer more financial flexibility with potentially lower interest rates and higher credit limits, but they come with the risk of losing one's home if payments are not made [13] - Credit cards can earn rewards on purchases, providing additional financial benefits that HELOCs do not typically offer [18][19] Group 5: Usage Considerations - HELOCs are often better suited for larger, planned expenses, while credit cards are more appropriate for smaller, immediate purchases that can be paid off in full each month [31] - The choice between a HELOC and a credit card should consider the amount needed, the urgency of access to funds, and the interest costs associated with each option [31][32]

Are you preparing for a government shutdown. Should our audience be doing the same. Well, we don't know.The vote has been rescheduled several times now. It looks like it's going to come tomorrow. The Democrats are voting no because there's no consideration of health care and putting back some of the the cuts that have been made to Medicaid or extending the subsidies for Obamacare.And it would be an easy fix if you can't help people who need health care. What's the point. Any leave the government open.They j ...

The government’s initial list of jobs eligible for the new “no tax on tips” deduction opens the benefit to a range of Americans beyond waiters and baristas https://t.co/e8dextHtqf ...

IM A PROUD DIGITAL CONTENT CREATOR SHOCK JOCK EXTRAORDINAIREHIGHERunusual_whales (@unusual_whales):BREAKING: "Digital content creators" are among the dozens of occupations that the Treasury Department has deemed eligible for the "no tax on tips" deduction, per BI.They explicitly name streamers, influencers, podcasters ...

The new "no tax on tips" deduction will benefit just about 3% of all tax filers, saving them, on average, almost $1,400. https://t.co/QHUCUFisBZ ...

Social Security Overpayment Recovery - The Social Security Administration is recouping overpayments by withholding 50% of a beneficiary's monthly check until the total overpayment is reclaimed [1] - Beneficiaries can contact the Social Security Administration to request smaller payment amounts or petition to waive the payment altogether if they cannot afford it [6][7] - Beneficiaries can also request a reconsideration if they believe they were not overpaid or it wasn't their fault [7] Impact of Income on Social Security Benefits - Capital gains from selling a house are not considered earned income and will not directly affect Social Security benefit amounts [10] - Increases in provisional income can lead to a greater portion of Social Security benefits being subject to income tax; provisional income is calculated as adjusted gross income (AGI) plus municipal bond interest and half of Social Security benefits [11] Senior Tax Deduction - A new tax policy includes an additional deduction of up to $6,000 per taxpayer aged 65 and older, regardless of whether they currently receive Social Security benefits [12][13] - The senior deduction is age-based, not benefit-dependent, and is available to both itemizers and those using the standard deduction, requiring a valid Social Security number [13][14] - The deduction is temporary, set to expire in 2028, and is subject to modified adjusted gross income phase-outs beginning at $150,000 for joint filers [14][15] - The White House projects this deduction will increase the number of beneficiaries paying no tax on their benefits from 40-50% to 88% [15] Roth IRA Conversion Planning - A $6,000 deduction equates to $12,000 per couple, but this deduction is reduced to zero between $150,000 and $250,000 of modified adjusted gross income, creating a potential tax cliff for Roth conversions at the $150,000 level [16][17] - Taxpayers should model Roth conversions before executing them to determine whether it's more beneficial to convert before or after age 65 [18] Medicare Premiums - The $6,000 senior deduction can lower adjusted gross income, potentially impacting Medicare premiums, which are determined by adjusted gross income on a sliding scale [20] - Changes in adjusted gross income affect Medicare premiums with a two-year lag; for example, 2025 premiums are based on 2023 income [21] - The Medicare Part B premium is estimated to increase 11% to above $200 for 2022 [21]

Charitable Giving Trends - Charitable giving as a whole increased to a record $590 billion last year [1] - Tax changes could cause a big shift in who gives and how much [1] Tax Law Impact - New charitable deduction for those who take the standard deduction, up to $1,000 for individuals and $2,000 for married couples [1] - Itemizers, mainly the wealthy, will exempt the first 0.5% of their gross income from their charitable deduction [2] - Those in the top tax bracket can claim only a 35% tax deduction for charitable gifts rather than the current 37% [2] - Changes will reduce overall giving by more than $8 billion, according to some estimates [3] Predictions - Supporters say the changes will encourage more giving by everyday Americans [3]

Charitable Giving Landscape - Charitable giving reached a record $590 billion in the past year, primarily driven by stock market wealth [2] - Tax changes could cause a significant shift in who gives and how much [2] Tax Law Changes - New charitable deduction of up to $1,000 for individuals and $2,000 for married couples taking the standard deduction [3] - Itemizers, mainly the wealthy, will not be able to deduct the first 0.5% of their gross income given to charity [3] - Deduction limits for those in the top tax bracket allow claiming only a 35% tax deduction for charitable gifts, down from 37% [4] Impact Assessment - Supporters believe the changes will encourage more giving by everyday Americans [4] - Others estimate the changes will reduce overall giving by more than $8 billion [4]