Everyone wants to save money on their taxes, and retirees and older adults are no exception. If you’re 50 or older, here are six tax tips that could help you do just that.
Tax Breaks for Older Adults and Retirees
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Archived Posts: Retirement Account
Tips to Help You Get Started Saving for Retirement
It's never too late to start saving for retirement, but the sooner you begin, the more time your money has to grow. That's because gains each year build on the prior year's gains thanks to the power of compound interest - and it's the best way to accumulate wealth. Let's take a look at ten tips to help you when saving for retirement: Set Realistic Goals and Understand Your Risk Tolerance Project your retirement expenses based on your needs, not rules of thumb. Be honest about how you want to...
Changing Jobs? Don’t Forget About Your 401(k)
One of the most important questions you face when changing job is what to do with the money in your 401(k) because making the wrong move could cost you thousands of dollars or more in taxes and lower returns. Let's say you put in five years at your current job. For most of those years, you've had the company take a set percentage of your pretax salary and put it into your 401(k) plan. Now that you're leaving, what should you do? The first rule of thumb is to leave it alone. You have 60 days to...
Tax Tips for March 2021
Click on the links below to jump to each section in this article: Tax Credits for Electric Vehicles and Plug-in Hybrids Special Tax Rules for Children With Investment Income Claiming the Credit for Other Dependents Unemployment Benefits Identity Theft Scam Alert There's Still Time To Make an IRA Contribution for 2020 Tax Credits for Electric Vehicles and Plug-in Hybrids Tax credits are still available for Qualified Plug-in Electric Drive Motor Vehicles, including passenger vehicles and...
