Oct 2017

Americans Aren’t Saving Money Like They Used To

2017-10-15T19:37:48+00:00

Americans Aren’t Saving Money Like They Used To Fourth-quarter personal savings rate was just 3.6 percent The savings rate has recovered somewhat so far this year American households scaled back their pace of savings to the lowest level in nine years at the end of 2016 as the growth of their wages and salaries slowed, [...]

Americans Aren’t Saving Money Like They Used To 2017-10-15T19:37:48+00:00
Oct 2017

2017-10-15T19:25:26+00:00

How Trump tax plan would alter mortgage interest deduction Homeowners have a deduction from their taxes for the interest they pay on their mortgages. Under President Trump's tax proposal, some Americans would likely be steered away from this tax break. The plan would also eliminate many existing itemized deductions, so that some people who now itemize [...]

2017-10-15T19:25:26+00:00
Oct 2017

In Trump Tax Plan, a Windfall for Businesses Large and Small

2017-10-05T12:45:35+00:00

In Trump Tax Plan, a Windfall for Businesses Large and Small A lower tax rate for corporations. Reduced taxes for partnerships like law firms. An easy way to bring overseas profits back to the United States without being taxed. Corporate America had a long wish list when it came to tax reform, and on Wednesday, [...]

In Trump Tax Plan, a Windfall for Businesses Large and Small 2017-10-05T12:45:35+00:00
Oct 2017

How to avoid some of the more common IRA mistakes

2017-10-05T12:41:15+00:00

How to avoid some of the more common IRA mistakes Nearly four in 10 households in the U.S. own an individual retirement arrangement or IRA. And that means about 50 million households might someday make a costly and perhaps irrevocable mistake when it comes time to take required minimum distributions or RMDs from those accounts. [...]

How to avoid some of the more common IRA mistakes 2017-10-05T12:41:15+00:00
Oct 2017

Who’s Left Out of 401(k) Nation

2017-10-05T12:36:28+00:00

Who’s Left Out of 401(k) Nation Hispanics, part-timers, and millennials are the likeliest to have no access to a plan. Only 45 percent of U.S. workers participate in an employer-sponsored retirement plan, according to the Pew Charitable Trusts. Many don’t even have the option—one-third of U.S. workers aren’t offered a pension or 401(k)-style plan by [...]

Who’s Left Out of 401(k) Nation 2017-10-05T12:36:28+00:00
Sep 2017

Here’s how much money Americans have in their savings accounts

2017-09-16T20:49:51+00:00

Here's how much money Americans have in their savings accounts If your savings account balance is hovering at or below $1,000, you're not alone. According to a 2017 GOBankingRates survey, more than half of Americans (57 percent) have less than $1,000 in their savings accounts. While that's an improvement from last year, when 69 percent of Americans [...]

Here’s how much money Americans have in their savings accounts 2017-09-16T20:49:51+00:00
Sep 2017

A financial flight plan for snowbirds

2017-09-16T20:35:00+00:00

A financial flight plan for snowbirds Before you start splitting time between two or more states, consider which you want to be your primary place of residence. There can be numerous advantages to picking one place over another. Then, be prepared to prove that the state you pick really is your home base. If you're [...]

A financial flight plan for snowbirds 2017-09-16T20:35:00+00:00
Sep 2017

How tax reform could hit charitable giving

2017-09-16T20:02:23+00:00

How tax reform could hit charitable giving Plenty of factors can motivate charitable giving: Moral obligation, religious tithing, a desire to improve the world or leave a legacy. But another factor -- the tax benefits for giving -- could soon change if lawmakers push through tax reform. Few people donate simply because of the tax [...]

How tax reform could hit charitable giving 2017-09-16T20:02:23+00:00
Sep 2017

The cost of tapping your retirement accounts early

2017-09-16T19:53:25+00:00

The cost of tapping your retirement accounts early Tapping retirement account balances before age 59½ can result in tax obligations and penalties. Some early withdrawals are exempt from penalties, but taxes will be due on funds saved on a pretax basis. Roth IRA contributions, made on an after-tax basis, are a possible source of early withdrawal [...]

The cost of tapping your retirement accounts early 2017-09-16T19:53:25+00:00
Sep 2017

Tax reform: Lawmakers consider changing the 401(k) rules

2017-09-16T19:44:40+00:00

Tax reform: Lawmakers consider changing the 401(k) rules After failing to repeal Obamacare, taxes have become a prime target for President Trump and are currently his "highest focus," says Treasury Secretary Steven Mnuchin, according to Politico. And, as the government grapples with how to raise revenue to offset any cuts, negotiators are drawing inspiration from [...]

Tax reform: Lawmakers consider changing the 401(k) rules 2017-09-16T19:44:40+00:00