If you’ve been planning to put money into a retirement plan for 2014, but it hasn’t quite happened yet, take heart. You still have time. The most convenient way to make retirement plan contributions is throughout the year. If you can have retirement plan contributions deducted from your regular paycheck, it can be quite painless. […]
Ever kick yourself for not planning ahead financially or for making purchases you later regretted? You’re not alone. It’s easy to make a few missteps when you’re first starting out and still learning how to stick to a budget. Although there are a few things other generations can learn from Millennials, here’s a look at […]
TaxACT Weekly Favorites: June 27, 2014 Why Starting To Save At 25 Means An Extra Six Figures In Retirement via Maggie McGrath A picture might be worth a thousand words, but when it comes to the state of retirement savings for the youngest generation of workers in the U.S., the numbers create a picture that […]
By the first or second week of February, you should have received informational statements from every employer you worked for last year. You should have also have received statements from places that paid you or to whom you made tax-related payments. By keeping these forms handy and grouping them by type, you can make preparing […]
Talk about a case of bad timing: the baby boomer generation started hitting retirement age during one of the worst economic disasters in modern-day history. The oldest boomers started turning 65 in 2011, as the economy struggled to recover from the devastating market crash and recession that began with the financial crisis of 2008. Middle-class […]
What does the Affordable Care Act mean for older Americans? If you’re 65 or older and on Medicare, you can keep your plan. Medicare’s basic structure hasn’t changed, although the Affordable Care Act (ACA) makes some important benefit improvements. If you’re too young for Medicare and don’t have access to health insurance through an employer, […]
As a self-employed person, you have more control over your eventual tax liability than someone who only earns income as an employee. To take full advantage of that extra control, follow these 5 year-end tax planning tips: 1. Estimate your business income It’s absolutely essential that you find out where you stand tax-wise – before […]
Have you started managing your personal finances? Need some actionable tips you can put to use today?
You don’t need to start earning a six figure salary or own a business spanning several states before you start managing your personal finance. In fact, if you delay, you might never achieve your financial objectives.
Here are the basics you need to know and practice.
TaxACT Weekly Favorites: August 23, 2013 10 Smart Retirement Moves to Make in Your 20s via Robert Berger In your 20s, you’re probably graduating from college, settling into a career and making some major life decisions. While you’re thinking about who to marry, where to live and which career to choose, don’t put your retirement […]
TaxACT’s Weekly Favorites: May 17, 2013 Where The Mortgage Deduction Really Pays via CNN Money The mortgage interest deduction is one of the most expensive tax breaks on the books, but its benefits are distributed unevenly across the country, according to a new report by the Pew Charitable Trusts. Continue reading… Family Loans: Does The IRS […]