4 New Law Changes That May Affect Your Retirement Plan
If you save for retirement with an IRA or other plan, you’ll be interested to know that Congress recently passed a law that makes significant modifications to these accounts. The [...]
Help Protect Your Personal Information by Filing Your 2019 Tax Return Early
The IRS announced it is opening the 2019 individual income tax return filing season on January 27. Even if you typically don’t file until much closer to the April 15 [...]
Five Issues to Consider When Making Charitable Donations
Do you plan on making contributions to charity this year? If you're in a giving mood, you may be rewarded with sizeable charitable deductions on your tax return. But the [...]
Joint Returns: Spouses Are Guilty Until Proven Innocent
When you got married, you knew it was for "better or worse." But you might not know about laws that hold you responsible if your spouse cheats on a tax [...]
Using Your 401(k) Plan to Save This Year and Next
You can reduce taxes and save for retirement by contributing to a tax-advantaged retirement plan. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a [...]
Small Businesses: Stay Clear of a Severe Payroll Tax Penalty
One of the most laborious tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount of taxes from employees’ paychecks but also [...]
Don’t Overlook a Roth IRA if You Are Self-Employed
Saving for retirement on a tax-advantaged basis should be on nearly everyone's financial "to do" list. Making contributions to a Roth IRA is one tax-wise way to save, because you [...]
Year-End Strategies to Reduce AGI
Reducing your current-year adjusted gross income (AGI) is usually a tax-smart idea. Here are ten ways to reduce your AGI (and modified AGI) over the short and long run. Closeup [...]
Use a Coverdell ESA to Help Pay College, Elementary and Secondary School Costs
There are several ways to save for your child’s or grandchild’s education, including with a Coverdell Education Savings Account (ESA). Although for federal tax purposes there’s no upfront deduction for [...]
Changing Jobs? What Will Become of Your 401(K)
Most private sector employers, for better or worse, put you in the driver's seat when it comes to saving for retirement. If you're a genuinely savvy and diligent investor, you might [...]
Combinations for Growth: Mergers & Acquisitions
If your company has decided the best way to grow is to expand your ownership boundaries, you are probably considering either a merger or an acquisition. Both are convenient, quick [...]
Small Business Owner Tax Planning Tips
It's hard to believe 2019 is almost over! It's been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they've [...]
Taking Distributions from Your Traditional IRA
If you’re like many people, you’ve worked hard to accumulate a large nest egg in your traditional IRA (including a SEP-IRA). It’s even more critical to carefully plan for withdrawals [...]
The Clock May Be Ticking on Corporate Stock Redemptions
Favorable individual federal income tax rates established by the Tax Cuts and Jobs Act (TCJA) are scheduled to expire at the end of 2025. But some analysts think that they could [...]