Here are five smart ways to put your tax refund to work.
Your 2012 tax return isn’t the only thing due by April 15. You also have to deal with your IRA, HSA, estimated taxes and possibly a 2009 unclaimed refund by that date.
Most New Year’s resolutions fall by the wayside, but we have 13 easy-to-implement ways to fine-tune your finances in 2013.
If you’re a baby boomer like me, you’re worrying a bit more every day about when — or whether — you’ll be able to retire.
Here are a couple of fine points of retirement planning tax management. Your accountant probably knows all of this, but if you’re the do-it-yourself type or you have a tax preparer who’s new to you, this might be helpful.
CPA Tim Steffen, who is director of financial planning for Robert W. Baird in Milwaukee, says it’s important to keep track of any nondeductible contributions you might have made to a traditional IRA.
Steffen says that while nondeductible contributions have no impact on your tax liability in the year they are made, if you don’t report these contributions on your return using Form 8606, it’s more difficult to …
Fidelity Investments, which provides more IRAs and 401(k) plans than any other investment company in the U.S., pointed out today that its 700,000 customers ages 65 to 69 with both a 401(k) and an IRA have an average of $359,000 in their retirement accounts. That’s nearly three times as much as customers have who save
If you’re maxing out your 401(k) — getting every penny of the available employer match — you might want to consider opening an individual retirement account. Or better yet, if you don’t make too much money, save in a Roth 401(k), says Doug Zarookian, manager of Charles Schwab’s Park Avenue office in New York. Zarookian
Last week, Vanguard launched a Target Retirement 2060 Fund aimed at those people 18 to 20 years old who expect to retire 48 years from now. Most of the people reading this and I will be pushing up daisies by then, but for anyone just starting out in life, this is a great retirement planning
The IRS yesterday announced changes in cost-of-living adjustments that will affect how much we can contribute to our workplace retirement plans next year. Actually, it won’t affect most people since most people don’t contribute up to the limit. In fact, according to a LIMRA survey released earlier this week, 55 percent of adults don’t contribute
Putnam Investments introduced an application earlier this summer that helps iPhone users understand the trade-offs of everyday money decisions and how they may affect their future retirement, according to Financial Security Project at Boston College. Only about 1,000 people have downloaded its PriceCheck&Save app so far — but that may be because it’s only available