WEEKLY QUOTE“Friendship either finds or makes equals.” – Publilius Syrus WEEKLY TIP If you are divorcing and will have joint custody of your children, clarify who will claim them as dependents on a federal return. If you both claim the same dependents, it might be a red flag for the...
WEEKLY QUOTE“Heroes are not known by the loftiness of their carriage; the greatest braggarts are generally the merest cowards.”– Jean-Jacques Rousseau WEEKLY TIP Think of making a three-pronged attack on future college expenses. Assets from a 529 plan or other form of college savings fund can be complemented by...
Rounding up the rankings of places to be (and not to be) financially. Do you live in one of the worst tax states for retirees? Are you fortunate enough to live in one of the best states to do business? Here is a roundup of the...
If we slash trillions from the federal budget, what does that do to our GDP? The summer of discontent stretches on. As July ebbs into August, we have no resolution on the federal debt limit issue. The possibility of default is still in play. Republican leaders...
Is there a chance that America could actually default on its debt? When will the debt ceiling issue be solved? The NFL, the NBA, the EU, Congress … wherever you look, it seems people would rather wrangle these days than resolve their differences. The U.S. Treasury...
Here are some things to consider. Be sure you understand your options. When the owner of an IRA passes away, his or her heirs must be aware of the rules and regulations affecting the inherited IRA. Ignorance could lead you straight toward a tax disaster. Please note...
Some of these may provide big savings. The Internal Revenue Code is around 700 pages thick – not as long as War and Peace or Remembrance of Things Past, but much drier reading. However, some very nice tax breaks may be found within its pages and...
April is nearly here. Keep your IRA in mind. Many of us associate April with taxes. We should also associate it with IRAs, for April is the month with the deadlines for IRA contributions and mandatory IRA withdrawals. The deadline for your 2010 IRA contribution is April...
Congress will consider three suggestions. A fundamental reform for the housing market. For two-and-a-half years, economists and housing industry analysts have wondered what would happen with Fannie Mae and Freddie Mac. On February 11, they got an answer: the Obama administration announced plans to shut down...
Little details you need to know about. What’s new? Every year brings changes in tax law, and some of these revisions always seen to affect IRAs. Here is a look at some of the new wrinkles for 2011. You can’t defer income resulting from a Roth IRA...