Everyone’s heard the stories of celebrities who died without a proper estate plan in place. It’s been a hot topic in the last few years with Prince and Aretha Franklin serving as unfortunate faces of the phenomenon. But it’s not just freewheeling entertainers. Abraham Lincoln – a lawyer by trade – didn’t have one either, which leads me [...]
For years, I have filed my own taxes. As a child I watched my mom with stacks of receipts spread across the kitchen table, typing in numbers to file taxes for the interior painting business that she and my dad owned. When I began filing my own taxes, it made sense to follow her lead [...]
You can't just target a $1 million or $2 million goal, because if you're a big spender or a penny pincher, that figure could be way off what you really need. People frequently ask me how much money they’ll need to retire, as if there’s a one-size-fits-all dollar amount. They tell me $1 million is [...]
SCAMS TRYING TO STEAL your Social Security information are on the rise. More than 35,000 people reported Social Security imposter scams to the Federal Trade Commission in 2018, up from 3,200 in 2017. As a result of this crime, consumers lost more than $10 million in 2018. RELATED CONTENT Social Security Benefit Questions If you receive a call [...]
TAX IRS CANCELS POSTCARD-SIZED INCOME TAX RETURN IRS Cancels Postcard-Sized Income Tax Return The IRS won’t be getting any postcards from taxpayers this year. It’s not like the nation’s tax collection agency was expecting pictures of scenic views of mountains and oceans or tourist attractions. But plans to provide taxpayers with a postcard-sized Form 1040 have been officially scrapped. The IRS is now working [...]
WASHINGTON (Reuters) - U.S. economic growth slowed less than expected in the second quarter as a surge in consumer spending blunted some of the drag from declining exports and a smaller inventory build, which could further allay concerns about the economy’s health. But the fairly upbeat report from the Commerce Department on Friday had some [...]
Scam callers are now using stolen personal information to tailor calls to specific consumers, posing as trusted companies to swindle money, according to a new report that analyzed 40 billion calls made this year. Criminals are leveraging the massive data breaches that have rocked major companies by using the exposed customer information to target consumers [...]
Many plaintiffs win or settle a lawsuit and are surprised they have to pay taxes. Some don't realize it until tax time the following year when IRS Forms 1099 arrive in the mail. A little tax planning, especially before you settle, goes a long way. It's even more important now with higher taxes on lawsuit settlements under the recently [...]
If you are among the growing number of people thinking about moving in retirement, we have some great suggestions—in fact, 12 of them. Each of the cities and towns here is home to at least one college or university that offers access to concerts, interesting lectures and sports (without final exams and 8 a.m. French [...]
We all know it’s important to save for retirement. Even if you’re saving for retirement, some common mistakes might cause you to run out of money in retirement. Avoiding these 7 retirement savings mistakes can increase the chances that you’ll be able to grow your portfolio and outlive your money. 1. Not starting as early as possible No [...]