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If saving enough money to pay for your child's college education looks like more than you can manage, don't despair. You don't necessarily have to save 100% of the costs up front. At college time, you or your child can supplement your savings with loans, grants, scholarships, or other savings. But r Read more...

There's a lot to consider before you roll funds over from an employer-sponsored retirement plan. Read more...

As you near age 65, it's time to get ready for Medicare. Read more...

This article outlines the essential steps you should take if you have missed the IRS tax filing deadline last April 15. Read more...

Taxable distributions you receive from your IRA or retirement plan before you reach the age of 59½ are generally considered by the IRS as premature distributions (or early withdrawals). To discourage these premature distributions, they are not only subject to the usual federal and state income taxes on distributions but also to a 10% penalty tax under Internal Revenue Code Section 72(t) (and possibly a state penalty tax). This 10% penalty tax is commonly referred to as the "premature distribution tax." Fortunately, not all distributions before age 59½ are subject to this penalty. The IRS does allow some exceptions (see below). Read more...

Financial discipline is a virtue—in good times, bad times and uncertain times. Leaders, therefore, need to make cost management an ongoing, always-on priority. Read more...

Lifetime gifting of your stock or other business interest (such as a partnership interest, if your business is not incorporated) refers to a formal or an informal plan of giving your interest in a business directly to other individuals, probably your children or grandchildren. As opposed to selling your business interest, giving your stock or other interest in a closely held business may have beneficial estate and income tax consequences both for you and for the beneficiaries. Lifetime gifting may also allow you to remain in control for a significant length of time. Read more...

The Pension Protection Act of 2006 first allowed taxpayers age 70½ or older to make tax-free charitable donations directly from their IRAs. Technically, these taxpayers were allowed to exclude from gross income otherwise taxable distributions from their IRA ("qualified charitable distributions," or QCDs), up to $108,000, that were paid directly to a qualified charity. These gifts are also known as "Charitable IRA rollovers." The law was originally scheduled to expire in 2007, but was extended periodically through 2014 by subsequent legislation, and finally made permanent by the Protect Americans from Tax Hikes (PATH) Act of 2015. Read more...

Turn tax season into an opportunity to boost your finances; with smart planning and key strategies, you can maximize your refund for debt repayment, savings growth, or upcoming expenses. Read more...

Chief Investment Strategist, Shashi Mehrotra addresses the continued market volatility and uncertainty regarding tariffs and administration policies. Read more...