Key Takeaways Estate planning can be helpful for any income level Make sure the beneficiaries named in your financial accounts match the intentions set forth in your will Learn about 529 plans and other tax-advantaged strategies that can be employed now None of us likes to think about dying—and what will happen to our money […]

Continue Reading

Key Takeaways Create a budget and track your inflows and outflows Understand the importance of an emergency fund Assess your goals for retirement, larger purchases, and debt repayment  It’s exciting to start your first “real” job, accessing a paycheck that allows you to live on your own terms. Although seeing that money in your bank […]

Continue Reading

Key Takeaways The forms you need to prepare your tax returns—including W-2s and 1099s—should start arriving by February Your income level and the complexity of your situation will determine whether you file Form 1040 or a 1040A You’ll also attach certain schedules if you have itemized deductions, capital gains or losses, or are self-employed The […]

Continue Reading

New rules for 2014 changed how brokerage firms report options trading activity and other transactions to their customers on year-end filings. It’s not as boring as it sounds (really). Because if you’re trading options, the changes affect you. The new rules dealing with options are part of multi-year roll out of updated broker reporting requirements […]

Continue Reading

Before you decide how you will spend, save, or invest your tax refund, you’ll want to make sure the check is in the mail to you or your bank account—not a criminal’s. Tax refund fraud is on the rise. The IRS estimates it paid $5.8 billion in fraudulent refunds in 2013, the latest year for […]

Continue Reading

If you subscribe to the shoebox method of tax record-keeping, we’re here to help. The latest tax filing season is ending, so you may be wondering how to handle that big pile of receipts, pay stubs, cancelled checks, and brokerage statements cluttering up your dining room table. Well, there are some simple rules to help […]

Continue Reading

Prudent investors shouldn’t limit “tax season.” It’s not just the early-year filing period or the late-year scramble to take advantage of pre-December 31 portfolio moves that may trim your IRS bill. Your investing checklist should always include reviewing tax impacts with the help of your tax professional. This means knowing your reporting requirements—including cost basis—well […]

Continue Reading

True or false: Your out-of-sight, out-of-mind investments can grow uninterrupted without consequences? False. Beware of escheatment. Say what? Perhaps you purchased securities a few years back looking for capital appreciation or distribution income. You may review your statements regularly to see how well you’re doing, but other than that, you’ve just kicked back and put […]

Continue Reading

The looming calendar flip means different things to different investors, depending on age, portfolio makeup, long-run goals, and more. It’s always best to check with your financial advisor and tax professional for specific year-end moves. Here’s a quick list of last-minute investing and potentially tax-saving moves that might make sense. 1. Reminder: RMD Chief among […]

Continue Reading

It’s coming down to the wire for traders to finish their taxes. Did the wash sale rule trip you up again this year? You’re not alone. The wash sale rule has been confusing traders for a long time. Let’s clear up some of the confusion and look at a couple ways traders can avoid a […]

Continue Reading