Tag Archives: Financial planning

[ad_1] Sdi Productions | E+ | Getty Images If you’re retired and skipped your 2022 tax payments, you can still avoid late penalties with an under-the-radar year-end strategy, experts say. Since taxes are due as you receive income, you must withhold levies from earnings or pay quarterly estimated tax payments. …

[ad_1] Delpixart | Istock | Getty Images The end of the year is a time to give thanks and celebrate the holidays with our families. It’s also an opportunity to reevaluate the previous 12 months and ask your financial advisor some very productive questions. 1. What’s your investment decision process? …

[ad_1] Cn0ra | Istock | Getty Images The end of the year is an important time for making financial decisions that can have an impact in the year ahead — and for years to come. From your work to your savings and investments to spending and giving back, here are …

[ad_1] Charday Penn | E+ | Getty Images If you’ve accepted payments via apps such as Venmo or PayPal in 2022, you may receive Form 1099-K, which reports income from third-party networks, in early 2023. But there’s still time to reduce your tax liability, according to financial experts.  “There’s no …

[ad_1] Tom Werner | DigitalVision | Getty Images Certain tax credits have been reduced  One possible reason for a smaller tax refund is the child tax credit and the child and dependent care tax credit have been reduced for 2022, explained certified financial planner Cecil Staton, president and wealth advisor …

[ad_1] If you’re expecting a tax refund in 2023, it may be smaller than this year’s payment, according to the IRS.  Typically, you get a federal refund when you’ve overpaid yearly taxes or withheld more than the amount you owe. Your annual balance is based on taxable income, calculated by …

[ad_1] After a volatile year for the stock and bond markets, it may be time to rebalance your portfolio by shifting assets back to match your original goals, according to experts.   As of Nov. 28, the S&P 500 Index was down roughly 17% year-to-date, and the U.S. bond market has …

[ad_1] Vitapix | E+ | Getty Images While couples might sign a prenuptial agreement before they’re married and a “post-nup” after, it’s more than just the timing that differentiates these arrangements, experts say. “It’s a whole different ballgame once you’re married,” said Martin Shenkman, estate attorney with Shenkman Law in …

[ad_1] Charles Taylor | Getty Images 1. If your income is higher in 2022, defer your bonus into 2023 If you’ve had a strong year and expect lower earnings in 2023, you may try to defer a holiday bonus until the new year, experts say. “It’s always exciting to reap …

[ad_1] Prostock-studio | Istock | Getty Images In the rush at the store checkout this holiday season, you may be tempted to say yes when asked if you want to apply for a store credit card — especially if you’re offered extra savings on that day’s purchase. But there is …