Be Prepared for Taxes on Social Security Benefits
Whether you’ve filed your 2020 tax return or soon will, you probably don’t want any surprises. One thing that takes many older people off-guard is getting taxed on their Social …
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Considering a Roth IRA Conversion?
Investors have long grappled with the conundrum of whether to opt for a traditional or Roth IRA. One factor that might tip the scales toward a Roth is a downturn …
Your Personal Emergency Fund
When the COVID-19 pandemic first hit, many people’s emergency funds were suddenly put to the test — if the funds existed at all. Now, about a year later, and presumably …
Have a foreign account? File an FBAR
Any U.S. person who has a financial interest in, or signature or other authority over, any foreign financial accounts must file a Report of Foreign Bank and Financial Accounts (FBAR) …
Home Is Where a Tax Break Might Be
If you own a home, the interest you pay on your home mortgage may provide a tax break in the form of the mortgage interest deduction. However, you must itemize …