Life insurance benefits can help loved ones after your death. But you may want to keep proceeds from a policy out of your taxable estate. Here are some considerations.
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Are you eligible to receive direct payments under the new law that passed on March 11?
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The latest COVID-19-related stimulus bill, the American Rescue Plan Act, has now passed. How can you benefit?
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Saving for retirement can help make your future brighter. Recent tax law changes might allow you to save more with your IRA or retirement plan.
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Saving now for retirement is one of the best moves you can make to help ensure financial security. If you’re eligible, you still have time to contribute to an IRA or SEP and save on your 2020 tax return.
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In order to claim a charitable deduction on your tax return of $250 or more, you need a written acknowledgment from the charity. What if you haven’t received one yet for a charitable donation you made in 2020?
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How much can you contribute to an IRA for 2021? How much is the standard deduction? Here are some Q&As about these and other tax-related amounts for 2021.
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Thinking about buying a new electric vehicle? While you’re considering factors like acceleration and the range of the battery before recharging, check out the federal tax break that may be available.
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If you’re required to take distributions from a retirement plan, you may have received a respite in 2020, but you must begin taking them again this year.
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Medical and dental costs are expensive and it’s hard to get a tax deduction for them. But you may qualify by including every eligible expense allowed. Here’s what it takes to get a deduction and how you might be able to benefit by moving certain expenses into 2020.
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Have you been contributing enough to your employer’s 401(k) plan or Roth 401(k)? Here are the contribution limits for this year and the recently announced limits for 2021.
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If you’re fortunate to have cashed in some investment gains in 2020, you may be looking for unrealized losses in your portfolio to offset your gains. Selling losing stock may reduce your 2020 tax liability. But be aware of the “wash sale” rule.
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It may seem easier to put money into a traditional IRA than it is to take money out. Here are some of the ins and outs of the IRA distribution rules.
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If you become disabled and are fortunate enough to receive disability income, you may have to pay federal tax on it. Here are the basic rules.
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Getting a divorce can be distressing. You don’t want to make matters worse by making decisions that will cost you more in taxes. Here are four issues to consider if you’re in the midst of getting a divorce.
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Interested in reducing your 2020 tax liability? There’s still time to take these year-end tax planning steps.
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Planning to buy or sell mutual fund shares? Here are some tax hazards to avoid.
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Did you file an extension until Oct. 15 to file your 2019 tax return? After finishing, you may find yourself with piles of tax-related documents. You might not want to toss them out for fear of trashing something important. Here are some tax recordkeeping guidelines.
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Getting a letter from the IRS that your tax return is being audited may strike fear into the hearts of business owners. But the more you know about IRS audits, the better you can fare.
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With the federal estate tax exemption so large, you may not be worried about estate taxes anymore. But it’s a good time to focus on saving income taxes for your heirs.
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