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Your Guide to Taxes for Retirees and Retirement Accounts: A cheat sheet on contributing to, withdrawing from and converting 401(k)s, traditional IRAs, Roth IRAs and other funds
By Laura Saunders To encourage retirement saving, Congress has provided Americans with an array of tax-favored accounts. These provide individual Americans many benefits, but there are pitfalls in terms of when and how you contribute to, and withdraw money from, them. Some, including most traditional and Roth IRAs, are owned and funded by individuals. Others, such as 401(k) and 403(b) plans,…
Read MoreFive Things You Did Last Week for Your Finances: Small, intentional choices can steadily build a more secure financial future
Recently, federal government employees received an email asking them to reflect on their work by listing five things they accomplished in the past week. The idea behind this exercise was to encourage employees to recognize their contributions, stay focused on their goals, and maintain accountability. This got me thinking: What if we applied the same…
Read MoreWhat’s New This Tax Season That Can Save You Money: Key changes to consider before filing your tax return
By Ashlea Ebeling Even though Congress didn’t make major changes for this year, there are some new wrinkles to be aware of, especially for those who sell things online, bought an electric vehicle, or prefer to get their refund as a savings bond. Taxes might also be slightly less aggravating now. The Internal Revenue Service…
Read MoreFebruary is the Month of Love
25 Financial Secrets to Keep the Love Going Strong in Your Relationship No matter whether your relationship is brand new or your celebrating your 50th, these financial tips can help make your financial love life smooth sailing. People often have twice the credit they actually need. Avoid temptation by never charging more than 50% of…
Read MoreA Summary of Key Changes for Tax Year 2025
A Summary of Key Changes for Tax Year 2025 More than 60 provisions that impact your 2025 returns that you file in 2026 Looking ahead, here is what you need to know for 2025 planning. The Internal Revenue Service released its annual inflation adjustments for tax year 2025. The details, outlined in Revenue Procedure 2024-40,…
Read MoreTrump Econ 101: Not sure what the next four years of Trump might mean to you financially? For reference, try the four years beginning in 2017 through January 2021.
I know for many of you there is a high degree of excitement and anticipation for the next four years of a Trump presidency. I also know that for many of you there is fear and trepidation. What I also know is that The United States is and incredibly well-designed country and our political system,…
Read MoreThe Proposed “Tax Hike” on Middle Class Retiree Homeowners That No One Is Talking About.
By now you’ve probably heard quite a bit about the different economic proposals from the presidential candidates Kamala Harris and Donald Trump. While the left and right media continue to beat up each other’s proposals and even to a large extent lie about how the presidential candidates’ proposals will affect you economically, there is one…
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