Do the pros and cons found in the 500-plus pages of legislative language add up to good news or bad news for your family's bottom line? …. Here's a look at key provisions of the new law that could affect everything from your family to your investments to your retirement planning…..
Don’t miss out: Certain people with low enough taxable income can sell stocks or mutual funds to convert their taxable gains into tax-free money. Here’s how…
Good news for employees: Even though 2020 and 2021 have been distinctly different from years past, full of economic strife due to the global pandemic, more employers are opting to give year-end bonuses. So if you're one of the fortunate workers who's receiving one, you can rest a little easier knowing there's more money going into your bank account.
After a working lifetime of alarm clocks and meetings, you might be looking forward to a lot more unstructured time once you retire. But taking care of one more to-do list early on can set you up for a better retirement.
……This is true for any financial situation, including those outside of losing a partner or spouse. Start by finding a fiduciary, fee-only advisor, ideally someone who is a Certified Financial Planner™, so you’ll know you’re in the hands of a professional who always puts your needs and wants first….
Wealthy people are bracing for potentially higher taxes that could hit their bank accounts as soon as this year, while lower- and middle-income Americans could end up enjoying tax breaks from Uncle Sam that were originally only temporary.
……..It also means heightened enforcement around conflicts of interest through the SEC’s Regulation Best Interest rule that went into effect last year to restrict unsavory practices by brokers and making sure they put clients’ interests ahead of their own when making recommendations. That is a good development for individual investors and will accelerate the trend toward fee-only or fee-based financial advice……..
Is a contribution to an individual retirement account (IRA) tax-deductible? For many of us, the short answer is: You bet! That’s what IRAs are for. However, there are rules and limits.
