Life changes: Major life changes like getting married, having a child, or selling your house can impact your taxes in a big way. When e-filing your taxes using TaxAct®, we’ll ask you basic information about your life, including marital status, children, and significant events from the...
Others realized that it was time to make some serious changes in their money management habits. "There are some people who are still not living life as they should because they aren't over [the pandemic]," says Brett Gersack, a senior wealth advisor at Halbert Hargrove. How do you ...
Whether you believe millennials are financially responsible or not, the economic climate has created fertile ground for increasing amount of debt of all types, including student loan debt. While coming of age during a recession undoubtedly affects your spending habits, we have seen enough evidence on...
Pension payments can help you enjoy a financially secure retirement. Figuring out what to do with your companypensionwhen you retire can be a bit more complicated than making a plan for your employer-sponsored401(k) plan. With a company or government pension plan, your choices can rang...
Rules and reporting requirements depend on whether the cash is income or a gift, how much money changes hands and if you're the giver or receiver. Maryalene LaPonsieJan. 6, 2025 12 Financial New Year's Resolutions Forget about the past. Get your finances on the right track in the presen...
As an attorney-in-fact, you may be contacted by creditors of the principal for debts owed; however, you are not financially liable. Nevertheless, the creditors do have the right to attempt to collect payment from the principal. Who is the best person to give power of attorney?
How the two of you are doing financially. What changes may need to be made. Any financial problems, and so on. The key here is that both of you are up-to-date on what is going on with your marriage and finances so that everyone can work together on your family’s financial goals....
Other less obvious changes can impact your plan as well: if your insurance needs change or risk tolerance changes or an illness arises in the family. Here are some helpful considerations if you’re planning on having a baby or budgeting as a couple, or even planning to adopt a pet. If...
The Roth IRA eliminates the immediate tax deduction of the traditional IRA. The money you pay into it is taxed in that year. However, you should owe no taxes when you start withdrawing money, either on the amount you put in or the investment gains it accrued. ...
It’s also fine to approach a financial advisor when you’re feeling financially secure, but you want someone to ensure that you’re on the right track. An advisor can suggest possible improvements to your plan that might help you achieve your goals more effectively. Finally, if you don’t...