Retirement/Investments

 

As the year is winding up, there’s still time to take actions that can pay off when you file your return. The clocking is ticking...1. Review your gains and losses.The final trading date on...

According to the U.S. Census Bureau, two thirds of American workers don’t put money into a retirement plan at work, either because they aren’t offered one or they choose not to contribute. The res...

In response to Hurricanes Harvey, Irma, and Maria, which impacted people in Texas, Louisiana, Florida, Georgia, Puerto Rico, and the U.S. Virgin Islands, the IRS has provided various types of tax reli...

Savings in your IRA are designed to provide you with a financially secure retirement. Take full advantage of this special savings opportunity. But as assets in the account grow, it’s tempting to use...

There are about $173 billion in U.S. savings bonds outstanding. This makes this type of investment one of the largest assets held by individuals. Savings bonds enjoy certain special tax treatment. Her...

Year-End Tax Planning for Your Securities

This year has been a bumpy ride on Wall Street, with dramatic swings up and down. Now is a good time to review your retirement account and your personal portfolio. While changes you make in your retir...

Dispositions of Passive Activities

The tax law generally limits a deduction for losses from passive activities to the extent of passive activity income. Unused losses are suspended and carried over, only to be used to offset passive ac...

What You Didn’t Know About 529 Plans

The cost of higher education continues to rise each year, making it challenging for families to manage this financial burden. Fortunately, all states as well as a consortium of private institutions of...

Tax-Free Interest Isn’t Always Tax Free

Interest on municipal bonds is exempt from regular federal income tax. However, the interest may be taxable—directly or indirectly—under certain circumstances.State income taxesNot all sta...

Does It Pay to Be Old?

That may be the conclusion you reach when you see the tax breaks limited to those of a certain age:Medical and dental expenses. While most taxpayers can itemize these costs only if the total excee...

Contributions to IRAs Versus Roth IRAs: Confused No More

There are two personal tax-advantaged ways to save for retirement: an IRA, which may be deductible or nondeductible (“traditional IRA”), and a Roth IRA, which is made with after-tax dollars. These...

25 Ways to Receive Tax-Free Income

Income that the tax law exempts is the best type to receive. This income becomes more valuable as your tax bracket increases. The following is a list of tax-free income that you may be entitled to. Be...

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