Roth IRAs are owned by 19 percent of all U.S. households. If you are younger than age 50, you can contribute a maximum of $6,000 per year. If you are age 50 or older, you can contribute up to $7,000 per year. Advantages of a Roth IRA: No required minimum
Income taxes are one area where your clients can make a substantial number of mistakes when planning for retirement. Many individuals do not have the knowledge or training necessary to protect their client’s retirement correctly. Thousands of dollars may be forfeited in this way, resulting in a lower standard of
As a tax professional, you may have thought about how you can expand your business to include additional revenue streams such as payroll and bookkeeping. And if you’re like a lot of my clients, the opportunity to provide financial services has seemed like an idea worth considering as well. The
In 1900, at the dawn of the Industrial Revolution, life for everyday Americans was not much different than it was in 1700. Then, gasoline-powered automobiles replaced horse-drawn carriages, and everything changed. Fast forward a little over a century. In 2030, when driverless cars arrive, the revolution may be even bigger.
“I’m sorry, officer. I didn’t know the speed limit was only 25 in a school zone.” When is the last time that one worked for you? Right. Ignorance of the law is no excuse. It usually doesn’t fly with the IRS either. Despite this, the tax court issued an opinion
It was one of the greatest financial bets of all time. Hedge fund manager John Paulson bet big against subprime mortgages ahead of last decade’s financial crisis, earning billions in profits for his funds. It was a gamble that, in the long run, didn’t pay off. Along with the $4