Contributing to an Individual Retirement Arrangement (IRA) is an excellent way to grow your financial wealth over time. In fact, if you don’t have an IRA, you may be missing out.
We all know how important it is to save for retirement. Most of us think about saving. But we’ve all seen the statistics — Americans aren’t the best savers. In fact, one in three Americans hasn’t saved a penny for retirement. It’s not that we don’t want to save, it’s just hard to figure out […]
One of the best presents you can give yourself this year is to maximize contributions to your deductible or nondeductible retirement plan. Whether you’ve been contributing all year or have yet to start, here are a few tips to get the most from tax advantaged retirement plans.
Every year scam artists devise new schemes to defraud millions of people. In recent years, it seems one of the most popular systems to target is the IRS. Unfortunately, fraudsters are at it once again – posing as the IRS in an attempt to steal taxpayers’ hard-earned money. To keep your bank account and private […]
It’s easy to only think of taxes during tax season. However, anyone who is financially savvy knows making changes throughout the year can give you the best chance to make a difference in your tax bill. With more than a quarter of the year left, now is a great time to make small adjustments that […]
Being self-employed has its advantages. You don’t have a boss to tell you how many vacation days to take, or what retirement plans you have to choose from. On the other hand, you don’t have a boss to make you take your vacation time (or to pay for it), or to set up retirement plans […]
If you’ve been an employee all your working life, you’re probably used to having income tax withheld from your pay. When it comes time to retirement, however, you might be surprised to find you may need to make estimated tax payments on your income four times a year. For some people, the days of simply […]
When you start working at a new company, you typically have a few decisions to make within those first few days on the job. And one of those decisions may be whether you want to sign up for a Roth 401(k) or a traditional 401(k) plan. You understand having a retirement plan in place is […]
If you’re planning to retire in the near future, or if you already have, you know that minimizing taxes is an important part of creating a successful retirement plan. You can live on a lot less if you’re not sending a large portion of your money to the Internal Revenue Service (IRS) every year. For […]