Articles

Teaching your children about money and finances is easiest when you start early. Here's a quick review of what you should teach your children at each age if you want them to become financially competent adults.   Preschool – Skills to Teach * Identify coins and...

It turns out you can go back after all - at least when it comes to last year's decision to convert your traditional IRA to a Roth. The question is, do you want to? You might, if your circumstances have changed. For example, say the value of the assets in your new Roth...

Review your tax deductions for 2013 while there's still time to manage them for a lower tax bill this year. The standard deduction for 2013 is $12,200 for married couples filing a joint return and $6,100 for single taxpayers. If your deductions are close to the...

The tax law signed last January extended the tax break that allows contributions of up to $100,000 from a traditional IRA to a qualified charity. Taxpayers aged 70½ or older can make a distribution directly from an IRA to a charity. The amount donated is not included...

Amid the evolving assortment of education tax breaks is a benefit that has survived with few changes over the years: the education savings bond program. When you qualify for this federal income tax exclusion, the interest you receive from bonds redeemed to pay for...

Many small start-up businesses are off-and-running before any record system has been set up. There is money deposited into the new business checking account, some from invested funds and some from sales. There has been money paid out for equipment, supplies, etc.,...

As mentioned in our previous post, it is quite common for individuals to engage in other activities aside from their work, and earn extra cash for it. These activities range from freelance writing to selling crafts, and even to more technical hobbies like graphic...

After all the advice you've received about saving for retirement, taking money out of your traditional IRAs and other qualified retirement plans may feel strange. Yet once you reach age 70½, the required minimum distribution (RMD) rules say you have to do just that....

A well-diversified portfolio spreads out your investment risk. However, you can easily end up with more eggs in one basket than you intended. Here are some investment tips. Look at the big picture. The assets inside and outside your retirement plans should be...

There are several factors that can help you determine whether to treat an activity as a hobby or business.  The difference between the two is a bit subtle, but the implications on your taxes, are quite clear. Since even the IRS admits this matter can be a little...