Taxes

Guide

7 Taxes Retirees Must Consider

Tax Changes Related to Retirement

Retirement has finally arrived. You're ready to start drawing on your retirement income sources. Enjoy this new phase of your life. Unfor...

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Pensions 401(k) Social Security Tax Returns

Guide

New Tax Laws Should Lower Your Audit Odds

What You Need to Know About Getting Audited Today

The recent Tax Cuts and Jobs Act (TCJA) represents one of the biggest changes to the tax code in many years. Will the Internal Revenue Servi...

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Tax Returns Tax Laws Taxes Federal Income Taxes

Q&A

Asked by Jessica

What is the best way to increase my high income, large cap growth and risk allocation stocks?

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Answers 5

Answered by Pamela J. Horack, PRO+
CFP® in Lake Wylie, SC

Hi Jessica! Sounds like you have a great family - what a gift! As I read your question, I hear two concerns. One - I want to grow this money as much as possible. Two -...

Financial Planning Investing & Retiring Taxes Mutual Funds Stocks

Q&A

Asked by Kathleen

I already have an IRA. Should I look into a Roth IRA as well.

Answered by Dan Crimmins
Financial Adviser in Woodcliff Lake, NJ

Kathleen - It is great that you are saving for your retirement. The difference between a Roth IRA and a traditional IRA is when the tax is due. When you contributed...

Retirement Investing & Retiring Taxes IRA

News

More Taxes On Online Purchases

Economic News you can Use

A New Avenue for State and Local Taxes Americans love shopping online, in large part because of lower prices. Online merchants offer lowe...

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Sales Taxes Taxes State Taxes

Guide

How the Tax Cut Bill Is Raising Your State Taxes

Why Your State Tax Bill Could Climb

What goes up must come down – when considering the effects of gravity. That principle doesn't typically apply to taxes. In the rare cases wh...

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Tax Returns Taxes Local Taxes State Taxes

Q&A

Asked by Lynn

I was told that a whole life policy may be better than term since I will be able to get all my premiums back in 35 - 30 years. Is that true?

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Answers 7

Answered by Donn Sharer
CFP ChFC CLU in Millstone Township, NJ

Thanks for your question Lynn. While I can't speak specifically to PA, I can say that I'm not aware of a "return of premium" feature for whole life policies. That said...

Budgeting Insurance Life Insurance Taxes

Q&A

Asked by John

What’s the difference between opening a custodial account and a 529 for our son’s college fund?

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Answers 3

Answered by Barry Rabinowitz
Financial Adviser in Plantation, FL

There is a big difference. A 529 has special tax rules, whereby if the funds are used for tuition, laptops, etc, all growth can be withdrawn income tax free. Also, in...

College Funds (529 Plan) Financial Planning Investing & Retiring Taxes Banks

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