Financial Advisors
Key banking crisis lesson: ‘The 1st line of defense should normally be hard cash,’ advisor suggests
People today hold out outdoors the Silicon Valley Bank headquarters in Santa Clara, California, to withdraw money immediately after the federal federal government intervened upon the bank’s collapse, on March 13, 2023. Nikolas Liepins | Anadolu Company | Getty Pictures It can be been an unsettling interval for customers and the economical marketplaces as the […]
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Made a profit selling your home in 2022? Here’s how to trim your tax bill
Despite the cooling market, many homeowners made money selling their property in 2022 — and part of that windfall may be taxable. Home sellers made a $112,000 profit on the typical sale in 2022, a 21% increase from 2021, and a 78% jump from two years ago, according to ATTOM, a nationwide property database. While […]
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How to pay 0% capital gains taxes with a six-figure income in 2023
vitapix | E+ | Getty Images Planning to sell some investments this year? It’s less likely to affect your 2023 tax bill, experts say. Here’s why: The IRS made dozens of inflation adjustments for 2023, including the long-term capital gains brackets, applying to investments held for more than one year. This means you can have […]
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Most couples are ‘financially incompatible,’ survey finds. Having a money talk could help — no matter how long you’ve been together
Talking about money with your romantic partner or spouse can be tough — especially when you don’t understand or know much about how they think about money. A new survey finds that 64% of couples admit to being “financially incompatible” with their partners, with different philosophies about spending, saving, and investing their money. Unfortunately, this […]
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Pre-tax vs. Roth 401(k): Deciding which to use for retirement is trickier than you think
Prathanchorruangsak | Istock | Getty Images Whether you’re starting a new job or updating retirement savings goals, you may need to choose between pre-tax or Roth 401(k) contributions — and the choice may be more complex than you think. While pre-tax 401(k) deposits offer an upfront tax break, the funds grow tax-deferred, meaning you’ll owe […]
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When it makes sense to buy extra paper Series I bonds with your tax refund, according to experts
Jetcityimage | Istock | Getty Images If you’re trying to max out the yearly purchase limit for Series I bonds, your tax refund offers an opportunity to buy even more. However, you should consider your goals and weigh alternatives first, experts say. An inflation-protected and nearly risk-free investment, I bonds are currently paying 6.89% annual […]
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Roth IRA conversion taxes may be trickier than you expect. Here’s what to know before filing — or converting funds in 2023
If you made a Roth individual retirement account conversion in 2022, you may have a more complicated tax return this season, experts say. The strategy, which transfers pretax or non-deductible IRA funds to a Roth IRA for future tax-free growth, tends to be more popular during a stock market downturn because you can convert more […]
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‘Don’t wait until March’ to hire a tax pro, says advisor — 3 moves to make before the 2023 tax filing season opens
mediaphotos | E+ | Getty Images Enlist tax prep help One of the first things to consider: Will you be filing your own taxes this year or tapping an expert to file a return on your behalf? If you’re planning to hire a tax preparer, January is a good time to find someone, said certified […]
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How to balance retirement and emergency savings in a shaky economy
Jamie Grill | Getty Images It’s not easy to prioritize financial goals, especially when choosing between two essentials in an unsteady economy: saving for retirement or building your emergency fund. While there are higher 401(k) contribution limits for 2023, you shouldn’t skip rainy day savings to max out your retirement plan, experts say. Indeed, more […]
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Where to keep your cash amid high inflation and rising interest rates: It’s ‘a little tricky,’ says expert
dowell | Moment | Getty Images Investors have many options when saving for short-term goals, and those choices have become more complicated amid high inflation and rising interest rates. While there have been signs of slowing inflation, the Federal Reserve is expecting higher interest rates to continue. “It looks like this year might be a […]
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