A useful year-end move to counteract capital gains. It looks like 2017 will end up being a very good year for the stock market. Consequently, you may realize short-term capital gains. What will you do about them? You could do what many savvy investors do –...
Why it is so important and not just for the rich. You have an estate. It doesn’t matter how limited (or unlimited) your means may be, and it doesn’t matter if you own a mansion or a motor home. Rich or poor, when you die, you leave...
How much attention do you pay to this factor? Will you pay higher taxes in retirement? Do you have a lot of money in a 401(k) or a traditional IRA? If so, you may receive significant retirement income. Those income distributions, however, will be taxed at...
For many married couples, filing jointly is a good idea, but there are exceptions. Ninety-five percent of married couples file joint federal tax returns. Filing jointly can be convenient. Frequently, there’s a financial advantage, but that does not mean it should be done without consideration.1 Years ago,...
As the central bank starts tightening, some positives & negatives may emerge. Economists widely expect the Federal Reserve to raise interest rates this month. Additional incremental rate hikes may follow in 2016. If you are retired (or soon will be), you will want to consider...
Some key federal tax breaks are made permanent...
The “dirty dozen” that criminals & cheats try to get away with year-round. Year after year, criminals try to scam certain taxpayers. Year after year, certain taxpayers resort to schemes in an effort to put one over on the IRS. These cons occur year-round, not just...
Take steps so criminals won’t take vital information from you. America is enduring a data breach epidemic. As 2013 ended, the federal Bureau of Justice Statistics released its 2012 Victims of Identity Theft report. Its statistics were sobering. About one in 14 Americans aged 16 or...
Some may be renewed, others may not be. At the end of every year, certain federal tax breaks face a sunset. Some are renewed, some expire. As 2014 will soon start, here is a list of some of notable tax provisions that may go away next...
Help the causes you care about & help your finances in the process. An opportunity for you to give & save. As 2013 ends, you may be considering making one or more charitable gifts. In most instances, they are tax-deductible with benefits for the donor as...