Insights

Year-End Retirement Tax Planning

Many people save money for retirement in a traditional IRA. The funds might have come from annual IRA contributions, or from rolling over an employer sponsored retirement account such as a 401(k). Either way, the dollars in your traditional IRA are probably pretax, so...

Year-End Business Tax Planning

The PATH Act’s many provisions also include a permanent increase in the amounts allowed under IRC Section 179, which permits rapid deduction (expensing) of funds spent for business equipment. For 2015, expensing up to $500,000 of equipment was allowed with no phaseout...

Every Little Bit Counts

Free money for your retirement Many companies offer 401(k) or similar retirement plans to their employees, and an employer match might be available. If that's the case, you should contribute to the plan at least enough to get the full match.  Example 1: Melissa North...

Campus Tax Credits Can Top Tax Deductions

Besides financial aid, specific tax benefits can reduce the net cost of sending a child to college. Among the three major tax breaks—American Opportunity Tax Credit, Lifetime Learning Credit, tuition and fees deduction—you can claim only one on your tax return....