For one reason or another, you may find yourself in a situation where you've lost track of a retirement account like a 401(k) or pension. There are several ways this can happen: Job change. People change jobs in today's economy much faster than they did in the past, and that means that retirement accounts like [...]
It's a nightmare scenario few small businesses consider: hackers breach your computer system, steal your customer lists and threaten to exploit sensitive data. Data breaches by malicious individuals don't just pose a financial risk. They threaten your reputation and can trigger litigation if your customers blame you for the exposure of their data. So far, [...]
Getting audited by the IRS is no fun. Some taxpayers are selected for random audits every year, but the chances of that happening to you are very small. You are much more likely to fall under the IRS's gaze if you make one of several common mistakes. That means your best chance of avoiding [...]
Congress has passed tax reform that will take effect in 2018, ushering in some of the most significant tax changes in three decades. Here are some major items in the new bill that impact individual taxpayers. Reduces income tax brackets. The bill retains seven brackets, but at reduced rates, with the highest tax bracket dropping to [...]
Small business owners beware: the IRS may scrutinize reporting of credit card transactions more closely after it was criticized for lax enforcement. The IRS' overseer, the Treasury Inspector General for Tax Administration (TIGTA), recently said the IRS had been missing opportunities to audit tax returns that had large discrepancies between income and the card payments [...]
The pressure to please everyone with gifts during the holiday season can be immense. But if you succumb to the temptation to overcharge your cards or dig into your savings, you'll start off the new year with a hole burned in your pocket. Here are some tips to help you stay financially sound through the [...]
Even though the end of 2017 is near, it is not too late to get your business into the best possible tax position for the new year. Here are some year-end tax moves to consider: Consider vehicle purchases. There are several tax deductions available if you own a vehicle for business use. General expenses can be [...]
There are a lot of new things to get used to when you change jobs, from new responsibilities to adjusting to a new company culture. You may not have considered the tax issues created when you change jobs. Here are tips to reduce any potential tax problems related to making a job change this coming [...]
You can save more for retirement next year using tax-advantaged accounts, thanks to a boost in the maximum 401(k) contribution rate by the IRS. The maximum rate increases by $500 to $18,500, which is the first increase in three years. Those aged 50 or older can still contribute an additional $6,000 on top of that [...]
Banks are a necessary tool to navigate our daily financial lives. Unfortunately, there are aggravating practices at many banks that drive us crazy or cost us money. Here are five tips to get more out of your bank and pay less. Tip #1: Remove cash from the right place. Never use an ATM machine that is [...]
