The best choice of entity can affect your business in several ways, including the amount of your tax bill. In some cases, businesses decide to switch from one entity type [...]
Perhaps you’re an investor in mutual funds or you’re interested in putting some money into them. You’re not alone. The Investment Company Institute estimates that 56.2 million households owned mutual [...]
Information from irs.gov Should you file using the standard deduction, or should you itemize your deductions? Deductions reduce the amount of taxable income when filing a federal income tax return. [...]
The Tax Cuts and Jobs Act (TCJA) introduced a new deduction for individuals, estates and trusts that own interests in so-called "pass-through" business entities for 2018 through 2025. The deduction can [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]