When it comes to managing your investments, it’s crucial to explore various strategies that can help you maximize your portfolio’s potential. One lesser-known approach that has been gaining attention is tax-gain harvesting. This tactic involves strategically selling profitable assets in your brokerage account during lower-income years to take advantage of favorable tax rates. By implementing
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The cost of attending college continues to rise, with some institutions charging nearly six figures a year when factoring in tuition, fees, room and board, books, and transportation. According to The Princeton Review’s “The Best 389 Colleges” list, eight schools have sticker prices of over $90,000 for the 2024-25 academic year, a figure that is
Minnesota Gov. Tim Walz shared a personal story at the Democratic National Convention to highlight the crucial role that Social Security survivor benefits played in helping his family after the death of his father when he was just 19 years old. This type of financial support allowed his mother and younger brother to maintain their
Recent years have seen an increase in enforcement efforts by the federal government when it comes to seriously delinquent tax debts. The IRS and Treasury Department are required by federal law to notify the State Department when an individual has a tax debt exceeding $62,000 in 2024, which includes federal tax liabilities, penalties, and interest.
Federal Reserve Chair Jerome Powell recently hinted at a potential interest rate cut, signaling a significant shift in monetary policy. This news has left many investors wondering how to navigate their investment strategies in light of this impending change. Financial advisors are weighing in on the potential impact and what adjustments, if any, should be
In a recent data breach, background check company National Public Data, owned by Jerico Pictures Inc., reported that over 2.7 billion personal records may have been exposed. The breach included sensitive information such as Social Security numbers, names, email addresses, phone numbers, and mailing addresses. A third-party bad actor gained unauthorized access to the data
Financial advisors suggest that maximizing your 401(k) contributions for the year 2024 might not be the best move for everyone. While the contribution limit has increased to $23,000 for employees, with an additional $7,500 for those over 50, there are several factors to consider before reaching this limit. It is important to carefully evaluate your
The rise of remote work in the U.S. labor market has been described as one of the major shifts in recent decades by economists. This trend, which became more prominent during the Covid-19 pandemic, shows no signs of disappearing anytime soon. According to Nick Bunker, the economic research director for North America at job site
Retirees face the challenge of managing their income sources to ensure they are meeting their tax obligations to the IRS. The quarterly estimated tax deadlines can be a burden, but there is a lesser-known year-end strategy that can help retirees cover their taxes while still staying compliant with IRS rules. Experts recommend using required minimum
After funneling money into pretax retirement accounts, one will eventually encounter required minimum distributions (RMDs) during retirement. While RMDs might lead to higher taxes, they can present an opportunity to optimize your portfolio, according to experts. Certified Financial Planner Matthew Saneholtz, Chief Investment Officer and Senior Wealth Advisor at Tobias Financial Advisors in Plantation, Florida,