For individuals who are unable to legally marry or who simply choose not to, there are unique considerations around beneficiary planning for your retirement assets. Under the current rules, the IRS does not recognize domestic partners as spouses for purposes of retirement account planning. Rather, partners are considered to have the options available to non-spouse beneficiaries.
If you’re a “Gen-Xer,” born between 1965 and 1980, you’ve still got many years to go until you retire. At this stage of your life, what can you do to help build resources for the retirement lifestyle you’ve envisioned?
As you know, the U.S. Congress has adopted some measures to help avoid the much-feared “fiscal cliff.” At this point, important spending decisions have been put off, but new tax laws are in place — and, as an investor, you’ll want to know just how this legislation will affect you.
Now that the Chicago Cubs have secured a spring-training home in Mesa well into the future, the East Valley will soon welcome to the area the first of possibly many in a long line of Windy City favorites: Portillo’s Hot Dogs.
The Arizona Department of Revenue will piggyback with the Internal Revenue Service (IRS) announcement regarding the start of the 2013 electronic filing season. Arizona electronic income tax returns are processed and accepted through the IRS first.
Not all households have two wage earners. By choice or circumstance, either you or your spouse may be out of the work force for an extended period of time. But that doesn’t mean you can’t make progress toward your joint financial goals, such as a comfortable retirement. It does mean, however, that you need to carefully review your situation and make the right financial moves.
Did you know that cash gifts, which are paid directly to the college for tuition and fees (from people other than the parents) should be avoided. These gifts will be treated as a student “resource” and a dollar-for-dollar deduction in financial aid.
WASHINGTON (AP) — The ranks of America's poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net.
You are most likely familiar with IRAs, or Individual Retirement
Accounts, savings plans where contributions and earnings accumulate
tax-deferred until you start withdrawing to help fund your
The Alternative Minimum Tax (AMT) was created by Congress in
1969 to insure that everyone pays at least some tax. The AMT
requires taxpayers to calculate their income tax twice, once under
the regular method and again under the AMT method. The taxpayer is
charged the higher tax level of the two.