Taxes

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How Your Fellow Americans Cheat On Taxes

New Survey Shows a Variety of Cheating Methods

Have you ever cheated on your taxes? If so, you are in the minority – but you aren't alone, either. A new Credit Karma survey finds that ...

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Tax Returns Taxes Federal Income Taxes

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Does Your State Tax Social Security?

Retire in A State That Doesn't Tax Benefits to Save Money

If you have done your homework leading into retirement, you probably already know that Social Security benefits may be subject to federal ta...

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Social Security Tax Returns Investing & Retiring 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

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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

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Refund Advance Loans And Refund Anticipation Checks 101

What you Need to Know before trying to Cash in Early on your Tax Refund

Are you counting on your tax refund to pay off bills? You may need the cash before your refund arrives. The IRS website states that typic...

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Borrowing Personal Loans & Lines of Credit Tax Returns Taxes

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Check Before Using Your 529 For Pre-College Education

Experts Warn Of Possible Confusion and Planning Errors

In 1996, the Small Business Job Protection Act created 529 savings plans: state-administered programs designed to help parents save for thei...

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College Funds (529 Plan) Investing & Retiring Taxes State Taxes

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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

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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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