If the foreign income exclusion is claimed, then the taxpayer may not claim any business deductions that are allocable to the excluded income — foreign taxes paid on the excluded income cannot be claimed either as a credit or a deduction, and neither traditional nor Roth IRA contributions can ...
PAY DIRT; EARLY LESSONS; Forget savings bonds. Kids with earned income can get a leg up on saving while learning about investing with a Roth IRA.(BUSINESS)McGuire, Kara
We did it by living well, but well within our means, investing continually through the great recession and gradual rebound, and generally being smart with our money. I use the term “our” because although we have done this with one income, I am married, and my lovely wife and I are p...
You have a bigger pool of tax-free assets and you get to control when you recognize taxable income by the draws you take from the pre-tax account,” says Knight. Of course, this is speculation, and there m...
Recently, a friend of mine asked me if he should pay off his auto loan he had acquired years ago. While the interest rate on the loan is very low, less than 3%, he wanted to be free of debt and felt tempted to finish making monthly payments for the loan. He makes good income and...
For households with low tax burden and/or low earned income, getting the maximum Child Tax Credit benefit requires intentionally increasing the amount of tax owed. The CTC can then reduce this back to low/zero. The common early retirement tax minimization tools of Roth conversions and Capital ga...
and Income Tax issues and concerns. In addition to this blog, you’ll find Jim’s writings all around the internet, as he is a regular contributor toForbes.com,TheStreet.com, andFiGuide. Several other sites also republish his work. ...
With real estate, banks will generally lend your household up to 5X your annual household gross income. With stocks, brokerage accounts may let youborrow up to 50% the value of your stock holdingsin the form of margin. For the record, I'm not a fan ofgoing on margin buying stocksor ta...