One common misconception is that any adult child can request a share of a parent’s Social Security check simply because they’re related. In reality, eligibility…
Retiring at 65 with $1.6 million in a 401(k) could set you up for a much larger tax bill 10 years later. As the account continues to grow, RMDs may eventually force sizable taxable withdrawals,…
The housing market is cooling as summer draws to a close and begins to transition into fall, with some cities around the U.S. seeing larger price decreases to attract buyers. Home sellers are moving to meet buyers in the middle with price reductions as high mortgage rates contribute to affordability…
An investment can increase substantially in value without creating an immediate federal income tax bill. In a taxable account, gains generally aren’t taxed until the asset is sold. That tax deferral can be valuable, but when and how the gain is eventually realized can have a significant effect on the…
The 65-day rule can give certain trusts more flexibility when deciding when to distribute income to beneficiaries. The IRS may treat an eligible distribution made during the first 65 days of a new tax year as though it occurred in the prior year. This can potentially shift taxable income from…
Bank of America is expanding its financial commitment to military veterans, first responders and 9/11 memorial organizations nationwide as the country prepares to mark the 25th anniversary of the September 11 terrorist attacks. Headlining the corporate giving initiative is a new $250,000 commitment to the Tunnel to Towers Foundation’s “Veteran…
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ASHEVILLE, N.C. – Treasury Secretary Scott Bessent delivered a firm call to action to global financial leaders in his opening remarks at the G20 Finance Track meetings on Monday, urging the group to refocus on…
