The Internal Revenue Service (IRS) is set to roll out a wave of adjustments for the upcoming 2024 tax year, presenting modifications to over 60 tax provisions as outlined in Revenue Procedure 2023-34. These changes are poised to leave a lasting impact on tax returns filed in 2025, introducing a series of alterations across various [...]
Debt is a financial tool that can either propel us forward or drag us down. When managed wisely, debt can be a stepping stone towards achieving our goals and dreams. However, when misused or left unchecked, debt can quickly turn into a burden that hampers our financial well-being. Understanding the difference can help you can [...]
Sometimes, those planning for retirement focus so much on building their assets, that they forget to plan for those assets in the event that they pass away. But at any age, estate planning is a crucial part of life that deserves a few moments of our attention. When you take the time to designate beneficiaries [...]
No one wants to think about income taxes at this time of year, but those who plan thoroughly will reap the rewards in April. Take these steps now, and you’ll have an easier time (and hopefully owe less to the IRS) next spring. Check your paycheck withholding. Ideally, this step should be performed earlier in [...]
December 31 marks the last day of the year, and you might have planned something exciting for New Year’s Eve. But it’s also the last day to make contributions to charities, if you plan to use those contributions as a deduction for the 2022 tax year. Here’s what you need to know. Limits on charitable [...]
You probably know that where opportunity exists, con artists will take advantage. Unfortunately, the rise of digital money movement services, like Venmo and Zelle, has offered plenty of opportunity to unscrupulous folks who wish to take advantage. The services themselves are legitimate, but some of the people requesting money transfers are not! If you receive [...]
Refinance offers have poured into your mailbox over the past year, and you probably know several people who already refinanced their own homes. So should you join in? Or is now actually a beneficial time to refinance your mortgage? What about cashing out your equity? Maybe not, due to the following four factors… Mortgage rates [...]
Most of us are feeling a bit on edge about gas prices lately. So the last thing you need is even more trouble at the gas pump! But that’s exactly what can happen if you accidentally use a credit card machine that has been equipped with something called a “skimmer” that steals your card number [...]
We all know that too much debt is a bad thing. And in particular, you don’t want to throw away thousands of dollars on interest or enter retirement burdened by debt. On the other hand, credit cards can be useful tools at times, for many reasons. So how do you know that your credit card [...]
We often think of market downturns as bad things, but we can also reap some benefits from the situation. In particular, this might be the right time to pursue tax-saving opportunities such as a Roth conversion. What is a Roth conversion? When you first established your retirement account, you choose between a traditional or Roth [...]