Taxes

Annuities have value in retirement income planning, Getty Royalty Free Image Getty When you break it down, saving for retirement is fairly straightforward: Set aside a portion of your earnings each year, invest for a long-term time horizon, be patient, and grow your wealth. While this is obviously an over simplification, saving for retirement –

Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column includes a note from a reader who was able to resist pressure to take lower benefits early and addresses Medicare Part B premiums, garnishing an ex’s benefits, self-employment income after

“Don’t go into the horse breeding business”  That is good advice.  You might modify it to something like “ Go into horse breeding to follow your bliss, but don’t expect to make money at it .  The way to make a small fortune in the horse breeding business is to start with a large fortune”

Estate Planning for Gay Couples may include disinheriting a homophobic relative. Getty As we celebrate Pride Month 2019, we are reminded that progress has been made over the years, but many in the LGBT+ community are still estranged from members of their family or even their entire families.  We wanted to share some advice for

Credit: Getty Royalty Free Getty The name of the measure before Congress sounds like a good deal: the Setting Every Community Up For Retirement Enhancement Act of 2019, a.k.a., SECURE. But the ever-astute Rick Kahler, president of Kahler Financial Group in Rapid City, S. D., smells something rotten: Larry Light: What’s wrong with the retirement reform legislation?

Martin Feldstein (MONEY SHARMA) AFP/Getty Images The cleverest idea from Martin Feldstein was a plan to take unemployment funds away from employers and hand them to employees. Workers of the world, unite! Feldstein, who died June 11, was an illustrious Harvard economist of a conservative bent. He worked for a while in the Reagan administration.

While former Colorado Gov. John Hickenlooper (D)—currently a 2020 presidential candidate—has described his state’s earnings from legal marijuana sales as a “drop in the bucket,” current Gov. Jared Polis (D) is taking a different approach. On Wednesday, his administration issued a report touting the fact that Colorado has so far brought in more than $1 billion in cannabis

Share to facebook Share to twitter Share to linkedin Cyber-security is a hot topic at every company this year and it needs to be a board level discussion – the risk associated with cyber attack and data breaches is now clear from all the headlines.  FedEx and Maersk forecast $300M in losses based on the

Looking down on a pile of 100 dollar bills and Social security card Getty Congressional Democrats are poised to pass the first Social Security reform bill in 35 years, with House passage predicted by Congress’s summer recess. But unlike the 1983 reforms, which were evenly split between tax increases and benefit cuts, the Social Security

Last October, period equity supporters celebrated Nevada’s vote against the sales tax imposed on feminine hygiene products. Nevada became the 15th state to eliminate the tax and fueled the national debate around what constitutes a necessity product and who gets to define it. However, as legislative sessions now come to a close for the summer,

One of the most common questions I get from investors is how crypto investments like bitcoin are taxed. There seems to be a great deal of confusion, perhaps because of the different names people use for this new asset class. If bitcoin is a cryptocurrency … is it taxed like currency? If bitcoin is “digital

There can be really good money in crime fiction.  That is the first lesson in K Slaughter v Commissioner,  a Tax Court decision released last week. The second lesson is that there is a lot more than writing involved in accessing that money.  Finally, there is a tax lesson, an illustration of Reilly’s Eight Law

Share to facebook Share to twitter Share to linkedin Japanese Finance Minister Taro Aso (front 2nd L) is welcomed by IMF managing Director Christine Lagarde (top 3rd L), US Treasury Secretary Steven Mnuchin (front R), and other delegation members while arriving at a family photo session of the G20 finance ministers and central bank governors

Credit: Getty Royalty Free Getty You should soon have the option of funding an annuity within a 401(k)s. This is owing to bipartisan legislation that appears to be a slam-dunk for passage. The measure also allows people to wait longer until they have to tap their retirement savings. But how will these provisions work out?

Gocycle GX folding e-bike being ridden in London. Gocycle Bicycles costing over £1,000–including e-bikes–will now be eligible for the U.K. Government’s Cycle to Work program. This 20-year-old money-saving salary sacrifice scheme was previously capped at £1,000 unless companies offering the benefit to their employees used their own Financial Conduct Authority (FCA) Authorisation. The new rules–announced

(photo: from L to R, Will Day, Simon York, Don Fort, Hans van der Vlist, Stephane Bonine) IRS-CI Technology has changed the world. It’s crazy to me that these days, I could sit on an airplane and send an email to my brother under the ocean (he’s a submariner). Or that I can, with the

Seven Deadly Sins of Investing Getty If you’ve ever seen the movie Seven with Brad Pitt, you know the seven deadly sins can be lethal. This also applies to investing. There are seven deadly sins of investing which could be costing you thousands of dollars a year, or even millions of dollars over a lifetime. You’re probably

Getty Are you looking for a little sugar rush today? You’re in luck: it’s National Doughnut Day. Now a national event, the first National Doughnut Day happened in Chicago in 1938. And it wasn’t dreamed up by bakers or marketers but by the Salvation Army as a fundraiser to commemorate the work of the “doughnut girls” or “donut

Facebook CEO Mark Zuckerberg Getty The Facebook CEO/Chairman debate has come into clear focus at the recent annual shareholders meeting where 68% of outside shareholders supported a proposal to make the role of Chairman an independent position after voicing concern and disapproval over how CEO and Chairman, Mark Zuckerberg, has handled various missteps including a

Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses the amount of a future survivor’s benefits, whether earnings after filing can increase benefit amounts, whether child-in-care spousal benefits reduce later retirement benefits, when Social Security benefits can begin