The SECURE Act represents the most sweeping set of changes to retirement legislation in more than a decade. Many individuals will likely want to revisit their retirement and estate strategies to prevent unexpectedly high tax bills in the future.
The IRS publishes annual updates to IRA and retirement plan contribution and earning limits for eligible participants. For 2020, changes are happening that impact IRA income rules and 401k/403b contribution limits.
When making charitable gifts at the end of a year, you should consider them as part of your year-end tax planning. Typically, you have a certain amount of control over the timing of income and expenses. You generally want to time your recognition of income so that it will be taxed at the lowest rate possible, and time your deductible expenses so they can be claimed in years when you are in a higher tax bracket.
Each year, the College Board releases its annual Trends in College Pricing report that highlights current college costs and trends. While costs can vary significantly depending on the region and college, the College Board publishes average cost figures, which are based on a survey of nearly 4,000 colleges across the country.
A health savings account (HSA) is a tax-advantaged account linked with a high-deductible health plan (HDHP). They work together to help you cover your current health-care costs and also save for your future needs.
An inversion of the two-year and 10-year notes has occurred before each recession over the past 50 years, with only one "false positive" in that time. Some analysts believe that the yield curve may no longer be a reliable indicator due to the Federal Reserve's unprecedented balance sheet of Treasury securities.
Large-scale data breaches are in the news again, but that's hardly surprising. Breaches have become more frequent — a byproduct of living in an increasingly digital world. Although you can't stop wide-scale data breaches, you can take steps to protect yourself.
The IRS continues to encourage taxpayers to review the amount of tax they have withheld to avoid an unexpected tax surprise when they file their 2019 tax returns next year. Preliminary 2018 tax filing data seems to show the need for taxpayers to review their withholding in order to make sure the appropriate amount of tax is being withheld from their paychecks to reflect recent tax law changes.
While U.S. consumers and businesses may bear the brunt of the tariffs in the short term, the United States is better positioned to outlast China in an extended trade war. Despite headwinds from trade concerns, the U.S. economy remains strong.
Diversification, in the sense that we are interested, is defined by the NASDAQ Online Glossary as “Investing in different asset classes and in securities of many issuers in an attempt to reduce overall investment risk and to avoid damaging a portfolio's performance by the poor performance of a single security, industry, or country”. Sounds reasonable, but surely, we are not expected to believe that an indiscriminate amorphous blob of diversification is the right amount.