The weak U.S. recovery, which higher taxes and more regulations do not help, does not bode well for the nation and its economy going forward.
Are you tired of the ever-increasing volume of financial documents, but not sure what you can toss? What follows is a general guide of what records to keep and for how long.
As any parent knows, dependents are tax deductible. However, letting your children file on their own can create significant tax saving opportunities if you are subject to rules that limit many traditional tax breaks.
Though the ink’s barely dry on your return for 2014, getting an early start on tax planning for 2015 can save you both money and stress next April. Here are five techniques to keep in mind.
1. Tax-loss harvesting. If you already realized a large capital gains tax in 2015 or anticipate one later this year, this tactic might help. Loss harvesting involves selling an investment at a loss and simultaneously buying a similar, substitute investment.
No one likes to pay taxes. Although they are one of the two certain things in life, you want to do all you can to reduce this burden. The ways to achieve that is through investing long term in mutual funds specializing in broad asset classes and using tax-managed funds.
We often hear the term rollover in connection with retirement accounts. One frequent type of rollovers occurs when you leave a job and roll your 401(k) over to an individual retirement account or a Roth IRA. But beware: The rules just got more restrictive.
Expanding your business is exciting, but the process brings plenty of challenges. If you don’t watch out for these pitfalls, your acquisition might become a costly failure.
Your letter from the Internal Revenue Service says a bogus tax return was already filed in your name. Or your electronically filed return bounces back because fake returns are already on file with your Social Security number (SSN). Surprise: You may be the victim of identity theft. What can you do?
While the Internal Revenue Service may not be your favorite federal agency, criminals posing as IRS representatives are unquestionably the much bigger problem. Here’s what to know to protect yourself.
Is Social Security going bust? As the program turns 75 this year, that’s a valid question. A lot of people fear that they can’t expect benefits in the future. Not to worry: The system’s solvency problems aren’t that bad, and Congress can enact some easy fixes to ensure its ongoing stability.