Tax diversification is the practice of saving for retirement through a variety of retirement vehicles with different tax treatments. Instead of putting all your eggs in one basket, you spread your savings out among types of accounts to minimize your tax bill as much as...
Should I Pay Off My Mortgage Before I Retire? Paying off your home mortgage before you retire is a major financial achievement, but you don't necessarily have to eliminate all housing debt in order to retire well. Low mortgage interest rates mean it can make financial...
My father died and I am the executor. What do I do? When this question gets asked of me, my client is typically in a panic. I do not know of many who relish the job of executor, no matter how prepared you may be. Family...
There’s still time to shave a few bucks off your 2019 tax bill — if you act quickly. The 2018 tax season came with harsh lessons for some taxpayers who didn’t properly adjust their plans for the Tax Cuts and Jobs Act. This overhaul of the tax...
Relocating for retirement and trimming the budget line for taxes are among the many tasks pre-retirees and retirees have on their to-do lists. Many people consider checking off both items by moving to a state with low taxes or tax breaks that specifically benefit older...
Most Americans need to work right up until their 60s — or later — to have enough money for retirement, but how much they’ll save highly depends on the type of job they have, especially if that work is in the gig economy. Older workers are...
Financial experts often recommend saving up $1 million for retirement. If you start saving in your 20s, contributing 10-15% of your paycheck will likely allow you to meet your retirement savings goal. With every decade you delay, however, you’ll need to save a greater percentage...
Hastily exiting your career before the time is right can have a lasting negative impact on your retirement. Apprehensive workers unsure if it’s time to retire might benefit from one more year of work. If there is any doubt about your ability to retire, consider...
The merger-and-acquisition market for private companies has been very active. The activity should remain high as aging Baby Boomers look to retirement, many of them business owners for whom selling a closely held business is a key part of their financial plan. A great majority of...
This article reviews and analyzes recent law changes as well as rulings and decisions involving partnerships. The discussion covers developments in the determination of partners and partnerships, gain on disposal of partnership interests, partnership audits, and basis adjustments. During the period of this update (Nov....