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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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Even if you’ve done all your own taxes throughout your working life, it’s still a good idea to turn to a professional when you retire. Why? Because the rules are different in the golden years when your income is typically lower. You may also be drawing out of tax-deferred accounts and on assets loaded with […]

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The end of the year is a time for celebration, reflection, and new beginnings. It can also be a critical time for nuts-and-bolts retirement account maintenance, including automated steps that can help you avoid the sting of penalties. No matter what stage of retirement planning you’re in, the final months of the year are a […]

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Before we know it, the little guy in the New Year’s diaper will pay us a visit. That means it’s time to start thinking about year-end trading that could impact your tax bill. There’s a lot to think about when trading at year’s end: constructive sales, closing short positions, wash sales, substitute payments, index options, […]

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