Normal plans for this time of year might have been thrown by a (second) tax season like no other, but the priorities before fall still wait for no firm. With the October deadline for extended returns looming, practitioners are wondering how best to fill the time between now and the infamous second season.“First I want a vacation,” said Terri Ryman, an Enrolled Agent at … [Read more...] about Always another deadline: Tax preparers share their pre-October priorities
Social Security: 1 Easy Way to Get Out of Paying Taxes on Your Benefits | Personal Finance
(Katie Brockman) It can be tough to make ends meet in retirement, especially if you don't have a significant amount in savings. Fortunately, Social Security benefits can help bridge the gap between what you have saved and what you need to pay the bills.The bad news, though, is that taxes can take a chunk out of your benefits in retirement. Although you've been paying … [Read more...] about Social Security: 1 Easy Way to Get Out of Paying Taxes on Your Benefits | Personal Finance
How Do Mega Backdoor Roths Work?
Asian man studying Roth IRAsA mega backdoor Roth is a unique 401(k) rollover strategy that’s designed for people whose incomes would ordinarily keep them from saving in a Roth Individual Retirement Account. The advantage of using a Roth IRA to save for retirement is being able to make tax-free qualified withdrawals. But not everyone can contribute to these accounts; … [Read more...] about How Do Mega Backdoor Roths Work?
Social Security: 1 Easy Way to Get Out of Paying Taxes on Your Benefits | Personal Finance
(Katie Brockman) It can be tough to make ends meet in retirement, especially if you don't have a significant amount in savings. Fortunately, Social Security benefits can help bridge the gap between what you have saved and what you need to pay the bills.The bad news, though, is that taxes can take a chunk out of your benefits in retirement. Although you've been paying … [Read more...] about Social Security: 1 Easy Way to Get Out of Paying Taxes on Your Benefits | Personal Finance
What is the new child credit for 2021? – Macomb Daily
Q: What is the new child credit for 2021? A: Each child will receive a $3,600 credit if under age 6 and $3,000 if age 6 to 17. Families will get advance credits in their bank accounts starting July 15th at a rate of $300 per month if the child is under age 6 or $250 per month if age 6 or older. The advance payments will total 1/2 of the child credit and the other 1/2 will be … [Read more...] about What is the new child credit for 2021? – Macomb Daily
Analysis: Where are the yields going?Investors Weigh US Employment Data and Delta Concerns
On March 26, 2015, the US Bureau of Engraving and Printing in Washington inspects a packet of former President Abraham Lincoln’s $ 5 bill. REUTERS / Gary Cameron / Files New York, August 6 (Reuters)-Unexpectedly strong job numbers in July boost stocks record, boosting the case of investors who believe Treasury yields will be higher for the rest of the year It could put pressure … [Read more...] about Analysis: Where are the yields going?Investors Weigh US Employment Data and Delta Concerns
What is a 401(k) Plan? Planning for Your Retirement
Editorial IndependenceWe want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.For most people, retirement is the most expensive financial goal they’ll save for in their life. According to the U.S. Department of … [Read more...] about What is a 401(k) Plan? Planning for Your Retirement
5 Warning Signs of Mistreatment in Your 401(k) and What to Do About It
In 2021, 401(k) plans held an estimated $6.9 trillion in assets, including employer-sponsored retirement plans (both defined benefit and defined contribution plans with private- and public-sector employers), individual retirement accounts (IRAs) and annuities. In 2011, 401(k) assets added up to $3.1 trillion. However, what happens if your money isn't going where it's supposed … [Read more...] about 5 Warning Signs of Mistreatment in Your 401(k) and What to Do About It
Financial Focus: Is Roth IRA better for young workers? – TAPinto.net
Financial Focus: Is Roth IRA better for young workers? TAPinto.net … [Read more...] about Financial Focus: Is Roth IRA better for young workers? – TAPinto.net
Social Security: 1 Easy Way to Get Out of Paying Taxes on Your Benefits
It can be tough to make ends meet in retirement, especially if you don't have a significant amount in savings. Fortunately, Social Security benefits can help bridge the gap between what you have saved and what you need to pay the bills. The bad news, though, is that taxes can take a chunk out of your benefits in retirement. Although you've been paying Social Security taxes … [Read more...] about Social Security: 1 Easy Way to Get Out of Paying Taxes on Your Benefits