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 adjustment...
Tag: financial advisors
Most couples financially incompatible. Having a money talk could help
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...
How to decide between pre-tax and Roth 401(k) contributions
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 ...
Here’s why your tax refund may be smaller this year
Bill Oxford | E+ | Getty Images If you’re banking on a tax refund, it may be “somewhat lower” than last year’s payment, according to the IRS. Typically, you can expect a federa...
Here’s how to report Roth IRA conversions on your taxes
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 fu...
Here are 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’...
Where to keep your cash amid high inflation and rising interest rates
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 h...
5 tax, investment changes that could boost your finances in 2023
1. Bigger contribution limits on retirement accounts If you’re eager to boost your retirement savings, there’s good news for 2023: higher contribution limits for your 401(k) and individual...
How to maximize your tax deduction for charitable donations
Members of the Salvation Army play music during the lighting of the world’s largest Red Kettle in the Times Square neighborhood of New York, U.S., on Tuesday, Dec. 1, 2020. Jeenah Moon | Bloombe...
You can still reduce your 2022 tax bill with some last-minute moves
‘Take lemons and make lemonade’ with tax-loss harvesting With the S&P 500 Index down nearly 20% for 2022 as of midday Dec. 19, it may be a good time for tax-loss harvesting, which allo...
21% of investors don’t think they pay fees. Here’s why they’re wrong
Damircudic | E+ | Getty Images More than a fifth of investors don’t think they pay any fees for their investment accounts, an industry survey has found. Most of them, however, are likely wrong —...
Here are 3 ways Gen Z workers can start saving now for retirement
Luis Alvarez | Digitalvision | Getty Images If you’re just out of college, you may be wondering when the right time is to get started with a retirement savings plan. The answer is now, experts s...
The biggest tax changes to know before filing your 2022 return
Tom Werner | DigitalVision | Getty Images Certain tax credits have been reduced One possible reason for a smaller tax refund is the child tax credit and the child and dependent care tax credit have b...
Here’s why your tax refund may be smaller in 2023, the IRS says
If you’re expecting a tax refund in 2023, it may be smaller than this year’s payment, according to the IRS. Typically, you get a federal refund when you’ve overpaid yearly taxes or ...
Here’s how to score a charitable tax break on ‘Giving Tuesday’
Ariel Skelley | Getty Images You must ‘itemize’ to claim the charitable deduction When filing your return, you reduce your taxable income by subtracting the greater of either the standard ...
What an inverted yield curve means for the economy
Catherine Yeulet | Getty Images What the inverted yield curve means Generally, longer-term bonds pay more than bonds with shorter maturities. Since longer-maturity bonds are more vulnerable to price c...
Fear of missing out can be a killer for investors. How top advisors keep it at bay
Michael H | Digitalvision | Getty Images The fear of missing out, or FOMO, can be a powerful psychological force — and it may lead unwary investors to lose bundles of money, according to financial adv...
TreasuryDirect crashes as investors try to beat key I bond deadline
Shapecharge | E+ | Getty Images Investors crashed the Treasury Department website for Series I bonds on Friday as they clamored to lock in a record-high interest rate before a key deadline. I bonds ha...
You must buy Series I bonds by Oct. 28 to get 9.62% annual interest
Insta_photos | Istock | Getty Images If you’re eager to secure 9.62% annual interest for Series I bonds for six months, the deadline is quickly approaching. You must purchase I bonds and receive...
How to save above 401(k) deferral limits with after-tax contributions
If you’ve already maxed out 401(k) plan contributions for 2022 and you’re eager to save more for retirement, some plans have an under-the-radar option, experts say. For 2022, you can defer...
How much income you can have for 0% capital gains taxes in 2023
If you’re planning to sell investments or rebalance your taxable portfolio, you may be less likely to trigger a tax bill in 2023, experts say. This week, the IRS released dozens of inflation adj...
Young, wealthy investors are turning to alternative investments
More advisors are using alternative investments Alternative investments typically fall into four categories: hedge funds, private equity, “real assets” such as real estate or commodities a...
CNBC’s FA 100 recognizes advisors who help people make smart money moves
Marko Geber | DigitalVision | Getty Images In times of uncertainty — turbulent markets, high inflation, geopolitical turmoil — we often write about what financial advisors are recommending to clients....
Here’s how advisors are helping clients reduce their 2022 tax bill
Hero Images | Hero Images | Getty Images Weigh Roth IRA conversions With the S&P 500 Index down more than 20% in 2022, many investors are eyeing Roth individual retirement account conversions, whi...