Reduction Strategies

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Easy Funds for Giving

Submitted by Sheila Handrick on Friday, May 15, 2015 - 3:00pm

If you want to leave a lot to charity, you can use a couple of tools in your estate planning – one of which is the pricey and time-consuming job of launching your own Rockefeller Foundation. Another method, though, might save you a lot of money and effort: a donor advised fund.

Lowering Your 2015 Taxes

Submitted by Sterling Raskie on Monday, March 30, 2015 - 12:00pm

With 2014 well over and the spring of 2015 looming, you may find yourself gathering all of last year’s tax information and getting ready to file your income taxes. Maybe you expect a refund or maybe you dread writing a check to Uncle Sam. If the latter, here are some tips to reduce your tax burden for 2015.

Yield Plays in S&P Sectors

Submitted by Joseph A. Clark on Wednesday, March 18, 2015 - 3:00pm

Being a proactive investor means paying attention to more than just your investments’ fees and expenses. What your dividends yield is very important. And their tax situation is, as well, as dividends are taxable income.

Finding Every Deduction

Submitted by Kimberly J. Howard on Thursday, February 26, 2015 - 12:00pm

Every possible tax deduction can help when your money is tight. Yet many available legal deductions go unclaimed each year simply because most taxpayers still don’t know the breaks exist. From eyeglasses to airline baggage fees, you might qualify for at least one often-forgotten deduction – and maybe more than one.

Tax Moves in a Divorce

Submitted by Wendy Spencer on Tuesday, March 10, 2015 - 12:00pm

In the turmoil of the end of your marriage, you may sign a divorce settlement agreement quickly, even with relief. That important – and possibly ill-considered – paper may start you on a new life. It might also ignite a tax nightmare for you in the future.

The Tax Deferral Dilemma

Submitted by Joseph A. Clark on Wednesday, February 11, 2015 - 3:00pm

Your decision to defer taxes via a 401(k) or traditional individual retirement account seems to make sense today for your future. Deferring taxes in an IRA can certainly reduce the taxes you owe in the current year. But predicting the impact of tax deferral in the future becomes more complex, and may cost you more in the long run.

Gen Y Tax Saving Tips

Submitted by Sophia Bera on Tuesday, January 20, 2015 - 3:00pm

Many young taxpayers miss out on tax-saving opportunities because they just aren’t aware of them. Here are some tax credits and deductions that you shouldn’t overlook.

Selling a Biz? 2 Tax Tools

Submitted by Scott Thompson on Wednesday, December 10, 2014 - 3:00pm

Selling your business can fulfill many dreams: your lifetime of professional achievement, pride in leaving behind a thriving enterprise – and a potentially large cash payout. But especially if you look to leave a chunk of your estate to charity and are short on heirs, such a bonanza can turn into a mess unless you use the right instruments to protect your money.