2017 May

This Tax Break Isn’t Much of A Windfall For Student Loan Borrowers

2017-05-17T20:26:32+00:00

If you're sitting on a huge pile of student debt and think your loan interest deduction will save you loads on taxes, think again. That because borrowers are permitted to deduct only a portion of the interest they've paid on educational debt. And it phases out if you make too much. As long as you've [...]

This Tax Break Isn’t Much of A Windfall For Student Loan Borrowers 2017-05-17T20:26:32+00:00
2017 May

The Ins and Outs of Applying For Social Security Benefits

2017-05-11T17:18:27+00:00

Pundits spend a good deal of time advising Americans about the best age to claim Social Security – at age 62, at full retirement age, at age 70 and the like. But they hardly ever discuss the nuts and bolts of applying for Social Security benefits. They should. You see, the seemingly simple act of [...]

The Ins and Outs of Applying For Social Security Benefits 2017-05-11T17:18:27+00:00
2017 Apr

Here’s what upsets Americans most about their tax system

2017-04-20T19:02:25+00:00

Most United States citizens see taxes as a fact of life, something that can't be avoided, or controlled. In many cases, according to a new study from Pew Research, they also view them as being unfair, a system rigged against the little guy in favor of big business and wealthy people. "Among the public overall, [...]

Here’s what upsets Americans most about their tax system 2017-04-20T19:02:25+00:00
2017 Apr

Do this during tax season to maximize your Social Security benefits

2017-04-07T19:43:51+00:00

Tax season is a great time to make sure your Social Security benefits statement accurately reflects your earnings history. You will have all the documents you need at your fingertips to correct any mistake. The annual statement details how much you earned each year to estimate monthly benefits, which are based on an average of your [...]

Do this during tax season to maximize your Social Security benefits 2017-04-07T19:43:51+00:00
2017 Apr

High earners should consider a ‘back door’ Roth IRA

2017-04-07T19:43:03+00:00

The April 18 tax-filing deadline is looming, and many corporate executives, attorneys and other professionals earning high salaries are seeking to save more money and cut their taxes. There is a great strategy that they could be overlooking that may save significant taxes in retirement: setting up a Roth Individual Retirement Account. Roth IRAs are [...]

High earners should consider a ‘back door’ Roth IRA 2017-04-07T19:43:03+00:00
2017 Apr

Millennials: It pays to rethink the Boomer approach to retirement

2017-04-07T19:42:34+00:00

To paraphrase one of the great musings of the American businessman and investor Charlie Munger, you don’t have to touch an electric fence to learn not to do it. In other words, it’s better to learn through observation and the mistakes of others than through making the mistakes yourself. For this reason, Millennials should take [...]

Millennials: It pays to rethink the Boomer approach to retirement 2017-04-07T19:42:34+00:00
2017 Apr

I.R.S. Tax Extension Adds Time to File, but You Still Have to Pay

2017-04-03T20:18:04+00:00

The April 18 deadline for filing federal income tax returns is less than three weeks away. Taxpayers who think that they will not complete their returns on time may want to consider filing extensions. A quirk of the calendar is giving taxpayers more time to file their returns this year. (The traditional filing day, April [...]

I.R.S. Tax Extension Adds Time to File, but You Still Have to Pay 2017-04-03T20:18:04+00:00
2017 Apr

What you can do about the marriage tax penalty

2017-04-03T18:51:10+00:00

Marriage proposals and weddings are joyous events, but for many couples the thrill of putting a ring on it also means saying “I do” to a higher tax bill. The reason is what the tax industry refers to as “the marriage penalty” — a discrepancy that causes some married couples to pay more combined income [...]

What you can do about the marriage tax penalty 2017-04-03T18:51:10+00:00
2017 Mar

Spring cleaning is a perfect time to get your financial house in order

2017-03-28T12:39:33+00:00

Spring cleaning is a perfect time to get your financial house in order Monday is the first day of spring and thoughts of spring cleaning may be on your mind. In addition to sprucing up your home for the upcoming warm weather, it might be even more important to take some to time to spruce up your [...]

Spring cleaning is a perfect time to get your financial house in order 2017-03-28T12:39:33+00:00
2017 Mar

Single Mom’s Post About Her Tax Refund Goes Viral

2017-03-02T22:56:35+00:00

A recovering addict and single mom took her $5,600 tax refund and used it not to splurge on the latest gadget, but to pay her rent—for the entire year. Christina Knaack put a photo of the rent check on Facebook Wednesday and explained her reasoning behind the move in a post that's since gone viral, [...]

Single Mom’s Post About Her Tax Refund Goes Viral 2017-03-02T22:56:35+00:00