Bonuses are taxed at ordinary income rates but the government may initially withhold more money than usual.
You can either fight the tax code or learn it.
It’s easier to learn it.
If you want to retire with the most money, look at creating different accounts that will give you access to tax-free money, tax-deferred money and some taxable money. This will allow you to draw from all three types of accounts in retirement, keeping your taxable income low and ensuring you pay minimal taxes on your tax-deferred money.Read More
Looking to Outsource?
Sometimes life is too busy and you don’t want to do it all yourself. Over the years, many people have asked me to connect them with the “good guys” in the financial services industry. Below are people and companies that I’ve personally vetted (often meeting them in person). Know that they are paid advertisers on the site but that I routinely recommend them to friends and colleagues and would do so even if they weren’t advertisers.
Mark spent eight years in Biglaw before joining Morgan Stanley for financial planning and asset management advisory services.
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Latest posts in Taxes
If you want to save money on taxes, the worst time to do it is April 15th and the best time to do it is right before the end of the calendar year.
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Don’t let the new tax code get the better of you. Hear from guest blogger Paul Carlson about ways you can still reduce your tax burden for the next year.
To save your HSA money for the future or spend it for medical expenses? Let’s look at two common ways to handle your HSA account and decide which one is the best avenue for you.
I did a couple hypothetical moves and calculated how much tax I would be paying in each place. Some of the results might surprise you.
It’s finally here, my 2018 taxes broken down for you. See how my tax report this year stacks up against the one from last year.
Feel like you missed out on some potential contributions to your retirement accounts this past year? Never fear, there are still some opportunities you can take advantage of now.
Let’s dive into the new tax code and take a look at a few major sections to see what has changed, and maybe what hasn’t.