Retirement Watch Weekly
The Mutual Fund Scandals and Our Portfolios
The mutual fund scandals continue to grow. What initially was malfeasance at one hedge fund and a few managers at four fund families now appear to be widespread industry practices. The SEC said a survey of major fund management companies revealed that about 25% of the fund companies admitted to regularly engaging in such behavior, […]
Better Ways to Be Charitable
It is the charitable giving season, and the tax code is here to help you. Most folks will write checks of after-tax dollars to their favorite charities. A few shrewd taxpayers, however, will give in different ways, enabling them to get higher tax write offs and to provide more help to the charities. Before making […]
Here Come the New Money Grabbers
The all-in-one, unlimited use offer is sweeping the marketplace. It also is likely to waste a big chunk of your change. The most prominent offers taking advantage of this trend are for telephone service. Most major telephone companies now are widely-promoting unlimited use – or all-you-can-call – plans. The companies offer local, long distance, and […]
Estate Planning: IRAs and Trusts Part II
One year ago we thought the IRS cleared up the rules regarding trusts that inherit IRAs. It turns out the IRS was setting new traps for some taxpayers. Some taxpayers who named trusts as IRA beneficiaries might have to rewrite those trusts. A trust can provide an extra layer of protection for your wealth. An […]
Estate Planning: Charitable Annuity vs. Charitable Trust
Charitable Remainder Trusts get a lot of attention from estate planners. Yet, they might not be the best option for many estate owners. There is the less-known charitable gift annuity to consider. Each strategy shelters appreciated assets from capital gains taxes, reduces current income taxes, provides income for life or for a period of years, […]
The New Look in Identity Theft
Identity theft still is the fastest-growing crime in the nation. But the crime is changing as individuals and authorities become more aware of the problem. The good news is that victims are discovering ID theft crimes faster. The bad news is that the effects are more costly and longer-lasting. The crime now is discovered within […]
How to Slash Mutual Fund Taxes
Mutual fund shareholders got a big boost to their bottom lines this year when the top tax rates on long-term capital gains and on dividends were reduced to 15%. Fund investors can get further tax reductions by carefully planning and reporting sales of fund shares. Here are steps to consider before year end. Don’t always […]
Flexible Spending Accounts Tax Benefit
Taxpayers with flexible spending accounts might see their after-tax medical costs decline. The IRS recently announced that the cost of nonprescription drugs can be reimbursed by flexible spending accounts. Flexible spending accounts reimburse account holders for medical costs that are not covered by insurance. An employee has a portion of salary deposited into the account, […]
