Ask the Adviser: If I don’t have earned income can I Fund my Retirement Accounts Based on my Spouse’s Income?
If you don’t have earned income of your own, you might think your path to retirement savings is blocked. However, if you are married and filing a joint return, your spouse’s income can unlock the door to your own IRA. Whether you are looking to catch up on savings or protect your assets from future medical costs, the “Spousal IRA” is a powerful wealth-building tool you should be using.
Ask the Adviser: Is my CCRC entrance fee tax deductible?
It depends on the type of contract you sign with your community.
Ask the Adviser: How Can I Guide My Grandchildren to Make Smart Money Choices?
Here are three practical ways to lead those who lack some of the financial skills you’ve gained in your lifetime.
Ask the Adviser: How long should I keep my financial documents?
The guidance varies depending on the document. We’ll look at what to consider with bank statements, tax returns, and other common file types.
Ask the Adviser: How do I pay taxes on retirement income?
There are two ways to satisfy the year-round tax payment obligation for retirement income. Taxes can be withheld from your benefits, or you can make estimated payments to the IRS.
Know the Tax Consequences of Your Hobby
Is that new pursuit a hobby or a business? Learn the difference and follow the corresponding tax rules to avoid penalties.
