Believe
it or not, the penalty for failing to file a tax return exceeds the penalty for
failing to pay your taxes. Filing an extension is a way to make sure you don’t
fall into the bad graces of the Internal Revenue Service.
I’ve
talked to lots of...
There
are certain questions of life we all want answered. What happens when you die?
Does my life have meaning? How long should I keep tax records? Personally, my
answer about keeping tax records is biased because I’m a safety man. I would
wear a belt AND suspenders—just in case.
One quick glance at the interest rate your bank is paying on your hard-earned savings account balance and you'll turn green. Even though the Federal Reserve has been raising benchmark interest rates for the past three years, the big banks have not followed suit. They are the...
With more than 200 ways to claim Social Security benefits, discovering what’s best for you can be a challenge. And for two benefits, in particular, there has been a lot of confusion—spousal benefits and survivor benefits. In fact, an internal audit of the Social Security Administration found...
When
naming a beneficiary for your IRA the number one choice is a spouse, a child,
or a relative. There’s something in our DNA that wants to make sure our money
stays in the family if possible, and that’s certainly understandable. But if
you’re looking at the bigger picture, the financial...
“I
can’t wait to retire!” Have those words ever come out of your mouth? Oh, the
thought of divorcing that demanding, unreasonable boss; doing what you want
when you want; burning all the bridges you never intend to cross again. It’s
the payoff for all those years of hard work.
Money.
We want it. We need it. We work hard for it. It’s the difference between the
life we want and just getting by. It determines whether we retire comfortably
or have to move in with the kids.
There
are all kinds of ways to manage your...