Being your own boss comes with a variety of perks. But it also forces you to handle work typically taken care of by a human resource or finance department. For example, you have to find your own health care plan and deduct taxes from your paycheck. And, when it comes to saving for retirement, it’s your responsibility to start a savings fund.
4 Ways to Manage Old Employer-Sponsored Retirement Plans
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If you’re like most Americans, you’ve changed employers a few times throughout your working career. In fact, the average person switches jobs 12 times during his or her lifetime! While job hopping can get you a variety of experience, it can also create some complexity managing your finances – specifically when it comes to the […]
Spring Clean Your Finances and Reach Your Money Goals
As the itch to shake off the winter doldrums sets in, you’re likely ready to jump head first into spring cleaning. But, while you are busy purging closets and cleaning out drawers this spring, it’s important to remember your finances may need a little sprucing as well. With the tax filing deadline past us, this […]
4 Reasons You Should Consider an IRA
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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 one, you may be missing out.
6 Ways to Maximize Your 401(k) or IRA Plan Contributions
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One of the best money moves you can make this year is maximizing contributions to your deductible or nondeductible retirement plan. Whether you’ve contributed all year or have yet to start, here are a few tips to get the most from tax-advantaged retirement plans.
4 Ways to Lower Your Taxes Before the New Year
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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 […]
Is a 401(k) the Right Way to Save for Retirement?
The 401(k) retirement plan, first popularized in the 1980s, is an excellent way to put aside money for retirement. Like other retirement plans — traditional IRA or Roth IRA — a 401(k) invests your money in a customized mix of individual stocks, money-market funds and bonds to maximize your return. But, when it comes to […]
Set Your Own Financial Limits (And Stick to Them) – TaxAct Blog
Many money guidelines are helpful tools, but generic personal finance advice can end up hurting your wallet. For obvious reasons, your budgeting strategy needs to be tailored to your specific financial goals. Tips to help divide your budget into specific spending categories can help get you started, but it’s often easier said than done. For example, what […]
