Planning for a comfortable retirement involves coordinating many moving parts. But you can begin by setting up a broad outline and filling in the details once you've taken the first steps.
People usually spend thirty to forty years saving and investing for retirement. Many become very familiar with the tax rules as they grow their accounts and keep taxes as low as possible during their working years. Then retirement comes and...
Every year, Morningstar, an independent investment research firm, hosts a conference near their headquarters in Chicago. Financial advisors and mutual fund representatives from all over the country come to discuss the current economic environment and...
For the calendar year 2016, the S&P 500 Index is up 3.84%. As you can see from the chart below, which shows performance year to date, the index has rebounded from its February lows. The 10% decline that ended in February has been recovered.
According to recent statistics, budget cuts, staff attrition, and a heavy workload for IRS employees mean your chances of undergoing a tax audit are less than 1%.
Planning can help you achieve a comfortable retirement. Here are five suggestions to consider.
In May, the Department of Labor updated the rules for paying overtime. Under the new rules, salaried employees who earn less than $913 per week ($47,476 per year) will be eligible for overtime pay. Thatâ€™s double the annual exempt amount of $23,660 from previous rules.
Basis is an important tax concept. The most recent reminder of the importance of getting basis right is the 2015 law that requires executors of some estates to report basis...
Early retirement, delayed retirement, phased retirement - if you've decided this summer is your time to leave the workforce, you have decisions to make. One of them
Retirement accounts are massively important - once you stop working full time, they become your new source of income. But they are also important during your working years.
June 30, 2016, is the deadline for filing the 2015 Form 114, Report of Foreign Bank and Financial Accounts, known as the FBAR.
The latest credit cards have a new feature: a half-inch square on the card's face that looks like a mini circuit board.
As the weather has warmed and plants have begun to blossom, US markets have also started to show signs of life..
Looking for suggestions to reduce your 2016 business tax liability? Here are three tips to consider as summer gets underway.
The Work Opportunity Tax Credit gives employers a tax credit for hiring veterans and others who are members of â€śtargetâ€ť groups.
If you find yourself on the IRS mailing list, hereâ€™s what to do.
The "Older Americans Reauthorization Act of 2016" was signed into law in April, and May is Older Americans Month, a national celebration of the many contributions of older Americans.
If you haven't revised your business's chart of accounts since you initially set it up, you may be missing out on an easy way to simplify your life at tax time.
The trends from the first quarter of the year continued in April, as major index returns remained muted and growth stocks underperformed.
If you're in business long enough, you'll run into a customer who doesn't pay you. Despite your best efforts, you may conclude that you'll never receive the money.
Did you know that a recent law made changes to the section 179 expensing election for 2016? These modifications took effect as of January 1. Here's what to consider...
Investor Warren Buffet once said, "It takes 20 years to build a reputation and five minutes to ruin it." The same maxim applies to good credit.
As you get ready for midyear tax planning, keep these lesser-known tax breaks in mind. Residential energy credit.Commercial building energy deduction.Straight-line depreciation.
Have you ever put together a jigsaw puzzle? If you're like me, you dump out all of the pieces, turn them so you can see a glimpse of the picture, sort out the edge pieces...
Another tax season has come and gone, and I learned something new this year!
The Social Security claiming strategy, "File and Suspend," will be phased out May 1, 2016, as a result of The Bipartisan Budget Act of 2015.
Each investment decision you make comes with some sort of tax impact.A taxable account is perhaps the most common type of investment account.
For the calendar year 2016, the S&P 500 Index is up 1.35%. As you can see from the chart below, which represents the trailing 12 months, the index has rebounded from ...
If you're an estate executor and you're required to file an estate tax return, the IRS has a new form for you: Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent.