News Stories and Articles
Inflation Adjustment Amounts Released for 2014
The IRS has released new inflation-adjusted amounts for 2014. These inflation-adjusted figures generally apply to tax years beginning in 2014 or transactions or events occurring in calendar year 2014. Included are the tax rate tables, the beginning income levels for the limitation on certain itemized deductions, and the beginning income levels for the phaseout of personal exemptions and credits. The inflation-adjusted amount are: Read more.
IRS Warns Consumers of Possible Scams Relating to Relief of Typhoon Victims
The Internal Revenue Service today issued a consumer alert about possible scams taking place in the wake of Typhoon Haiyan. On Nov. 8, 2013, Typhoon Haiyan – known as Yolanda in the Philippines – made landfall in the central Philippines, bringing strong winds and heavy rains that have resulted in flooding, landslides, and widespread damage.
Following major disasters, it is common for scam artists to impersonate charities to get money or private information from well-intentioned taxpayers. Such fraudulent schemes may involve contact by telephone, social media, email or in-person solicitations.
The IRS cautions people wishing to make disaster-related charitable donations to avoid scam artists by following these tips: Read more.
9 Smart Reasons to Rethink Your Retirement Plans
If anything has been a casualty of the Great Recession, it's America's traditional vision of retirement — clocking out at age 65 and settling into a condo in Florida.
Instead, workers today are coming to grips with the very realistic notion that they may work well into their 70s.
But is that really such a bad thing? Read more.
2013 Tax Planning Consideration
As the end of the 2013 tax year approaches, set aside some time to evaluate your situation. Here are some things to keep in mind as you consider potential year-end tax moves. Read more.
Why $1 Million Won't Cut It in Retirement
Let's face it — a million bucks isn't what it used to be. You know it. We know it. Even millionaires themselves know it. Read more.
Why Risk Matters and How to Lessen It
Investors naturally tend to focus on the return they expect to receive from a financial strategy or investment. But that single-mindedness can be a huge mistake because it ignores the impact of risk. Read more.
Rethinking the 4% Withdrawal Rule
You've spent decades socking away money in your 401(k) and IRA, with the prospect of a comfortable retirement looming on the horizon. Now that you're at or nearing retirement, the million-dollar question is: Will it be enough?
The greatest fear people have around retirement is outliving their money and not having enough to meet basic needs. Read more.