On Sunday, April 14th, Gary was quoted in the New York Post in an article pertaining to how wealthy New York residents are getting hit with record high tax bills.
The IRS recently issued its annual list of tax scams. The list highlights various scams that taxpayers may encounter, many of which occur during tax filing season. Here are some of the scams that are highlighted on the list.
Time certainly goes by fast. One day you’re interviewing for your first job and the next thing you know you’re a few short years from applying for Social Security.
While it’s never too early or too late to start planning for retirement, when it comes to retirement savings in the U.S., later seems to be the standard. According to RothIRA.com, only 56% of today’s workers in the U.S. are currently saving money for their retirement, and 38% of those currently saving have less than $10,000 saved. With one-third of Americans admitting that they have no retirement savings at all, it’s clear that many U.S. workers will reach retirement age with little to no resources to count on.
March 9, 2019, marked the 10th anniversary of the S&P 500’s longest ever bull market run. Why is this bull market having such a long run?
Most consumers typically have both a credit card and a debit card. Of course, the biggest difference between the two is that a debit card will immediately take money out of your bank account when used, unlike a credit card, which will pay for the purchase and later add the amount of the transaction to your monthly statement.
But are there any other differences between the two?
Even though tax filing season is well under way, there's still time to make a regular IRA contribution for 2018. You have until your tax return due date (not including extensions) to contribute up to $5,500 for 2018 ($6,500 if you were age 50 or older on December 31, 2018).
The New Year is a great time to reassess saving and spending habits and put new goals in place. To do so requires creating a formal process to succeed—and that means developing a budget. You may already have a budget, but are you taking full advantage of it? Chances are it may need a little dusting off or refresh.
Maxing out your retirement account contributions can be a smart financial move not only to help reduce your tax bill, but also to ensure you're setting aside enough money for the future. But do you know how much you're allowed to contribute?
More than 60% of children under age six in the United States have two parents in the workforce. 1 Many of these working parents must spend a burdensome share of their earnings on child care, especially if they don't have relatives who are willing and able to help out.
Tax filing season is here again. If you haven't done so already, you'll want to start pulling things together — that includes getting your hands on a copy of your 2017 tax return and gathering W-2s, 1099s, and deduction records. You'll need these records whether you're preparing your own return or paying someone else to prepare your tax return for you.