Tax Strategies for Charitable Giving
Now that the holiday season has arrived, you might decide to step up your charitable donations to boost your deductions for 2013. Here are six timely strategies. Read more
Archive for year: 2013
Balance Risk and Return to Create Investment Balance
Even if you’re not an investment expert, you’re probably familiar with the term “diversification.” It means not putting all your eggs in one basket. Diversification calls for choosing the right mix of investments to keep a balance between risk and return. Read more
IRS Warns of Phone Scam
WASHINGTON – IRS SPECIAL EDITION TAX TIP 2013-13 – The IRS is warning the public about a phone scam that targets people across the nation, including recent immigrants. Callers claiming to be from the IRS tell intended victims they owe taxes and must pay using a pre-paid debit card or wire transfer. The scammers threaten those who refuse to pay with arrest, deportation or loss of a business or driver’s license. Read more
A Cash Reserve Adds to Your Financial Security
Many of us are living close to our financial limit these days. We pay our bills on time, but there’s not a lot left over. But that’s a dangerous situation. If things go wrong, your financial situation can change very quickly from adequate to critical. Without a cash reserve, you could find yourself in serious trouble. Read more
Don’t Get Soaked by a Wash Sale
If you’re planning to adjust your investment portfolio by selling some losing stocks at year-end, take a minute to review the wash sale rules. Read more
IRS Issues Tips for Individuals Selling Their Home
In a “2013 Summertime Tax Tip,” the IRS reminded taxpayers about the current rules on home sales. Here’s a quick review of those rules. Read more
Know the Tax Consequences of Borrowing From Your 401(k) Plan
When you borrow from your 401(k), you become both a borrower and a lender. Whether that’s a good idea depends on your personal financial situation – and in the process of making the decision about lending money to yourself, you may have questions regarding the tax consequences. Read more
RMDs Require Careful Planning
After all the advice you’ve received about saving for retirement, taking money out of your traditional IRAs and other qualified retirement plans may feel strange. Yet once you reach age 70½, the required minimum distribution (RMD) rules say you have to do just that. Read more
Eggs, Baskets, and Investments
A well-diversified portfolio spreads out your investment risk. However, you can easily end up with more eggs in one basket than you intended. Here are some investment tips. Read more
Back-to-School Tax Tips for Students and Parents
“WASHINGTON – IRS SUMMERTIME TAX TIP 2013-19” – Going to college can be a stressful time for students and parents. The IRS offers these tips about education tax benefits that can help offset some college costs and maybe relieve some of that stress. Read more