7 Tax-Favored Strategies For Retirement
Thinking about retiring early? To ensure that you’ll have enough money to live off of in future years, sock away money now. Here are seven tax-favored strategies to consider.
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IRS Announces Relaxed Retirement Plan Rules For Victims Of Hurricane Matthew
The Internal Revenue Service (IRS) has announced that 401(k)s and similar employer-sponsored retirement plans, including 403(b) and 457(b) plans, can make loans and hardship distributions to victims of Hurricane Matthew and members of their families.
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A Quick Look At Roth IRAs, Roth 401(k)s & The Man Responsible For Both
William Victor “Bill” Roth Jr. would have been 95 today. Roth was a World War II veteran, a lawyer, a U.S. Representative and a U.S. Senator but is best known for creating the Roth IRA.
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Ask The Taxgirl: Are Social Security Benefits Taxable?
Ask The Taxgirl: Are Social Security Benefits Taxable?
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Funding Retirement Without Breaking The Bank
(This post is part of my Small Business Startup & Survival Guide. You can catch up on the whole series here.) If you go to work for almost any big company these days, you’re practically guaranteed some kind of retirement plan. While pensions may be fading as a perk (except in government), they’re being replaced by…
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Banks Quick To Turn Over 'Abandoned' Assets To Revenue-Hungry States
This story appears in the June 29, 2015 issue of Forbes. Last year, after her husband’s death, an 82-year-old Pennsylvania widow started tracking down the jointly owned certificates of deposit he had set up at half a dozen banks in his quest for higher interest rates. Two were at Stonebridge Bank, a local institution with…
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2015 Tax Rates, Standard Deductions, Personal Exemptions, Credit Amounts & More
With tax season firmly behind us (er, for those of you who didn’t file for extension), now is a good time to take a look at your current financial picture and check to see how it squares against the 2015 tax rates, adjustments and other tax items. If you aren’t expecting any significant changes, you…
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Taxes From A To Z (2015): Y Is For Years Certain Annuity
It’s my annual “Taxes from A to Z” series! Next up: Y Is For Years Certain Annuity An annuity is an insurance product that pays you each month for a specified term. The term can be based on your life span or a pre-determined number of years; if it’s based on a pre-determined number of…
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Taxes From A To Z (2015): R Is For Rollover
It’s my annual “Taxes from A to Z” series! Next up: R Is For Rollover Building your nest egg for retirement? Most of us simply make contributions and leave it alone. Occasionally, however, there might be a situation when you need or want to move funds from one plan to another. There’s just one problem:…
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Taxes From A To Z (2015): E Is For Early Distributions
It’s my annual “Taxes from A to Z” series! Next up: E is for Early Distributions Money that you put away in retirement plans tends to be tax-favored. With a traditional individual retirement arrangement (IRA), you generally receive a deduction for your contribution while money socked away in a qualified retirement plan (like a 401(k))…