Westend61 | Westend61 | Getty Images Remote workers — especially those who have been hopping to different states — could be on the hook for additional taxes when they file their returns next spring. It’s been nine months since the coronavirus pandemic first gripped the U.S. and led to many workers punching in each day
Advisors
AJ Watt | Getty Images Are you stocking up on cold and flu meds for the winter? Buying an at-home Covid-19 test kit? If so, you are running out of time to use this tax-advantaged account for those purchases. Health-care flexible spending accounts, which may be available at your job, allow you to stash pre-tax
Vladimir Vladimirov | E+ | Getty Images The role of a financial advisor can encompass areas that many people might not expect. The truth is a financial advisor is not just someone who helps with investments. Quite often, the job is to assist with every aspect of a client’s financial life. Advisors use their expertise
South_agency | E+ | Getty Images The value of Bitcoin is skyrocketing. If you’re planning on selling now and pocketing the gains, Uncle Sam is going to want his share. This week, the cryptocurrency hit price it hasn’t seen since 2017, climbing toward $18,000 for one unit of Bitcoin. Over the course of 2020, it’s
GYRO PHOTOGRAPHY | amana images | Getty Images Growing rapidly within the socially responsible investing landscape is the world of so-called impact investing, which deploys your money more directly toward solving societal problems. Largely executed through direct investing platforms, this approach addresses specific problems, such as alleviating poverty in certain communities or reducing pollution. These
Nitat Termmee | Moment | Getty Images The good news is that surging markets have boosted investor portfolios this year. Now for the bad news: Some of those people will be owing the taxman. That’s because mutual funds distribute capital gains to their shareholders near the end of the year. At this point, fund providers
Shapecharge It’s not uncommon to want to move money from a workplace savings plan to an individual retirement account when you leave the company. Yet if you’re not careful while doing that rollover, you can make costly errors or lock yourself into something that can’t be easily undone. The key is to avoid any tax
Martin Barraud | OJO Images | Getty Images When introducing clients to the idea of sustainable, or socially responsible, investing, financial advisors’ questions often spark a revelation. “Our first question to any potential client is about values,” said certified financial planner Mitchell Kraus, co-founder of Capital Intelligence Associates in Santa Monica, California. “What do you
AJ_Watt | E+ | Getty Images Forget volatility. The thing that keeps certified financial planner Neil Waxman on edge is clients’ cybersecurity practices and the threat of identity fraud. “It’s not the markets that keep me up at night,” said Waxman, managing director of Capital Advisors in Shaker Heights, Ohio. “This is the thing that
President-elect Joe Biden and Vice President-elect Kamala Harris at the transition team’s Covid-19 advisory board Nov. 9, 2020 meeting in Wilmington, Delaware. Joe Raedle | Getty Images Joe Biden may have won the presidency, but there’s no guarantee his tax plan will come to fruition intact. President-elect Biden campaigned on a series of sweeping changes
Nes | E+ | Getty Images When the Covid-19 pandemic hit the U.S. in mid-March, there were three types of financial advisory firms: high-tech, low-tech late adopters and firms somewhere in between. The overnight shift to work-from-home was vastly different for each type. Low-tech firms transported printers and fax machines to their homes and scrambled
Eric Audras | ONOKY | Getty Images So you finished your estate plan. You finalized a will, made sure beneficiaries are named on financial accounts, signed all other pertinent documents and picked an executor to carry out your wishes when you die. You might have overlooked one consideration: whether you should share the details of
Lorado | E+ | Getty Images “It’s increasingly a computer-based global work environment,” Minott said. “People can travel from country to country or stay where they like.” The benefits are plentiful. You get to live in a vacation destination, improve your quality of life and possibly reduce your cost of living. Just make sure you
Peathegee Inc | Tetra images | Getty Images You have just a few weeks to tap the money you’ve been saving for medical needs — or risk losing it. Health-care flexible spending accounts, which your employer may offer, allow you to store pretax dollars in a special account. In 2020 and 2021, you can contribute
Clerkenwell | Vetta | Getty Images Socially responsible, or sustainable, investing — investing in ways to make the world a better place — continues to surge, driven by increasing consumer demand and the recognition that sustainable funds provide returns comparable to traditional funds in addition to lower risk. The first half of 2020 saw a
A man walks to cast his ballot at an early voting center at the Omni Shoreham Hotel on October 27, 2020 in Washington, DC. Sarah Silbiger | Getty Images Don’t let Election Day anxiety drive your tax decisions. There are still plenty of chances to trim your 2020 tax bill — regardless of who wins
andresr | E+ | Getty Images Covid-19 has disrupted tax and retirement planning for small-business owners, especially those who focused on saving their businesses from the pandemic’s fallout earlier this year. With some hard work, however, there is still time to get back on track by Dec. 31. Here’s a great example. After his business
David Rea in Chobe National Park in Botswana. Source: David Rea For two years in a row, something hasn’t changed on CNBC’s ranking of the top 100 financial advisors in the U.S.: Salem Investment Counselors has come in at No. 1. CNBC spoke recently with Salem’s president, David Rea, about why he believes his firm
Tom Merton | OJO Images | Getty Images With the election less than a week away, the phones are ringing off the hook for estate planning attorneys and accountants. That’s because wealthy families fear that an overhaul of the estate and gift tax exemption — the amount of assets they can transfer without a 40%
Your bank account balance doesn’t have to stop you from being able to hire a financial planner. towfiqu ahamed | iStock | Getty Images There’s a big misconception that financial planning is only for the wealthy. The truth, however, is that financial planning is a path for anyone to actually gain wealth. The objective of
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