Red Flags for Tax Auditors January 6, 2020 Here are six flags that could make your tax return prime for an I.R.S. audit. No one wants to see an Internal Revenue Service (I.R.S.) auditor show up at their door. But in 2018, the I.R.S. budget is roughly $1 billion less than it was 8 years ago, down from $12.1 billion in 2010 to [...]
Keep Calm, Stay Invested January 6, 2020 Expect volatility, but avoid letting the headlines alter your plans. Recent headlines have added volatility to the markets. There will always be new headlines, and any of them could mean turbulence for Wall Street. As an investor and retirement saver, how much will this turmoil matter to you in the long run? Not as much [...]
Is Your Company’s 401(k) Plan as Good as It Could Be? December 16, 2019 Two recent court rulings may make you want to double-check. How often do retirement plan sponsors check up on 401(k)s? Some small businesses may not be prepared to benchmark processes and continuously look for and reject unacceptable investments. Do you have high-quality investment choices in your plan? While larger plan sponsors have more “pull” with [...]
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What if You Get Audited? December 16, 2019 What the I.R.S. looks for and why. “Audit” is a word that can strike fear into the hearts of taxpayers. However, the chances of an Internal Revenue Service audit aren’t that high. In 2017, the I.R.S. audited 0.5% of all individual tax returns.1 Being audited does not necessarily imply that the I.R.S. suspects wrongdoing. The [...]
The Financial Realities of Longevity December 10, 2019 Your financial future is up to you and no one else. What will be your future? You know that solid retirement strategy takes your time horizon, an often unpredictable factor, into consideration. Your thinking must include an awareness of how long you must save for and what sort of expenditures may be ahead. The most [...]
Insurance When You’re Newly Married December 10, 2019 Assess the coverage for your new household. Marriage changes everything, including insurance needs. Newly married couples should consider a comprehensive review of their current, individual insurance coverage to determine if any changes are in order as well as consider new insurance coverage appropriate to their new life stage. Auto. The good news is that married [...]
Coping with an Inheritance December 2, 2019 A windfall from a loved one can be both rewarding and complicated. Inheriting wealth can be a burden and a blessing. Even if you have an inclination that a family member may remember you in their last will and testament, there are many facets to the process of inheritance that you may not have considered. [...]
Retiring Single December 2, 2019 You will want to replace your income; you will also want to stay socially engaged. About 6% of Americans 65 and older have never married. That statistic comes from a 2018 Census Bureau report, which also found that 22% of Americans aged 65-74 live alone.1 If you think you will retire alone and unmarried, you [...]
Smart Financial Moves in Your 20s, 30s, 40s, & 50s November 25, 2019 The right moves for every age. Have you ever mapped out your financial timeline? If you’re like many Americans, it may have been more difficult than anticipated. One of the most helpful ways to achieve your financial goals is to break it down by your age. After all, depending where you are on life’s journey, [...]
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Helping Your Parents Manage Financial Tasks November 25, 2019 How can you make things easier on them later in life? Worldwide, the number of people aged 60 and older is growing. By 2050, this demographic will be more than twice as large as it was in 2015.¹ Some of these seniors could face a financial test. Will they be able to look after their [...]
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