Market Rebounds from January Sell-Off
The market began on a high note on the first trading day of the year with the Dow closing at an all-time high of 28,868 on January 2nd.
What is the best way to save for a child’s college education?
529 Plans are great savings and investment vehicles to grow money for your children’s education and they are established by each state. Contributions are not tax-deductible for federal income tax, but many states offer their residents a deduction.
Make an IRA Contribution for your Spouse
A married couple who files a joint tax return may be able to make a tax-deductible contribution to an IRA for a non-working spouse. This is a tax deduction that many taxpayers miss.
Coronavirus Puts Markets on Edge
The recent outbreak of the coronavirus in China has put global markets on edge. On Monday, January 27th the Dow dropped over 450 points due to concerns about the spread of the virus after media reporting all weekend.
What happens when an IRA is inherited from a Spouse?
Understanding your options when you inherit an IRA is important because IRA money generally has never been taxed. This money passed on to your heirs will be taxed when they take the money out, and they must be in individual names and can't be jointly owned.
The Stretch IRA is Dead
The SECURE Act, effective January 1, 2020, has ended the Stretch IRA for most adult non-spouse beneficiaries.