Everyone's situation is a little different, but unless you expect your tax bracket to drop in the future, I would say that for most people with a choice, the long-term benefits of the Roth IRA override the short-term tax deduction of the traditional IRA.
Last month the IRS issued a warning that received scant attention from the media but nonetheless could impact millions of taxpayers this year -- particularly low-income, elderly and Spanish-speaking taxpayers. The scam takes advantage of the Individual Shared Responsibility Provision of the Affordable Care Act.
One day soon, same sex couples won't have to play hopscotch with financial equality and inequality, but until then, good financial planning can help ensure you come out a winner.
Homeowners across the United States pay taxes on their property to support a variety of local public services. Although millions of Americans pay property taxes each year, many misunderstand how their bill is calculated.
While your question is specifically about gift tax valuation, I'm going to expand my answer a bit. The recipient of a gift doesn't pay a gift tax, but when he or she decides to sell the stock, they have to calculate a value for income tax purposes.
No matter how the crowdfunding industry evolves in the future, even the most modest artistic and cause-based campaigns should consider how to build the most tax-efficient effort.
What are the most common tax questions from taxpayers? Here is a look at this season's top five most frequently asked tax questions and answers.
Examining the money habits of personal finance experts can give insights into what responsible money management looks like in the real world. We asked 15 personal finance experts, "What is the best thing you ever bought with your tax refund?"
Walmart would need to raise its base pay to $15 an hour to properly compensate its workers and relieve America's taxpayers from picking up part of its payroll tab. Can Walmart afford it? The Walton family saw their fortune increase by $21 billion last year alone. For about half that amount they could give every one of Walmart's 1.3 million U.S. employees a $5-an-hour raise.
It's one thing to try to gain a political advantage by pointing out certain undesirable aspects of an opponent's background or record. But when a Senate democratic leader spreads baseless allegations without a shred of evidence, and uses the Senate floor to do so, that's one step too far.
As you ponder what to do with your own tax refund, or how to pay less next year, now is a great time to make sure that your dough will get to your kids without them paying half (or more) to Uncle Sam in income taxes.
Tax Day, which falls on April 15, is just around the corner, and if you find yourself among the masses of last-minute filers, here are four tips that will help you maximize your health care savings.
Democracy is a relational form of government. True Relational Leadership aspires to navigate this country to its unifying destiny not its leaders' polarizing re-election. Hiring our next leader starts with selecting a WHO that will lead us together to WHAT.
Lawmakers claim that short-term revenue from a discount tax on offshore profits is needed to pay for urgent investments in public infrastructure. But if we're serious about fixing our crumbling bridges, roads, and dams, we should start by fixing our broken corporate tax system.
We are only two weeks from the April 15 filing deadline! With so many people still to file, I thought it'd be fun to look at some of the most commonly believed small business tax myths to find out if any of them hold water.
We all know that many hard-working families and individuals could use a financial boost in this still-tough economy. Millions of Americans can get just that by taking advantage of the tax credits and free filing services available to them.