Are you prepared to retire before (or after) your spouse? Have you considered how this retirement gap will impact your relationship?
Contributing to a 401(k) is great. But you need to do more to ensure you reap the plan's full benefits.
Predicting the future of tax laws would be a great magic trick. It would make tax planning and financial planning so much easier. But since we can only make educated guesses, here are some tips.
RMDs were suspended in 2020, but if you took the withdrawal and rolled it back, read this before preparing your tax return.
Nobody wants to outlive their money. Here is a strategy that can help reduce income taxes in retirement, ensuring your money will last longer.
When building an investment portfolio, it's important to consider cash in the mix. Learn the many reasons why, and how to determine how much cash is right for your financial plan.
Making Qualified Charitable Distributions can be a great way to maximize your charitable giving. But this strategy must be reported properly at tax time. Learn how to avoid a tax trap.
There are many things we can donate to charity - cash, property, clothing, assets. Each one has its own requirement for receiving an income tax deduction. Review this flowchart to learn more.
The recently passed SECURE Act has made several changes to retirement plans, some of which could result in an increase in the amount of money being left to charities. Read why.
You make a purchase at a store, swipe your credit card, and sign the receipt. But then you notice that the charge doesn't appear on your credit card statement - ever. How long does the merchant have to charge you?
Donating mutual funds and appreciated stock may be a better strategy than donating cash. But timing is everything. Here's why.
Ever wonder how to calculate the cost basis of inherited stock? This dad asked for guidance so he could pay for his daughter's wedding.
A Reader of Ask NJ Money Help asked: I take Required Minimum Distributions every year, but I don't need the money. How can I decide if I should convert the IRA? The short answer is you could be a candidate for a Roth conversion, but it depends on several issues. Read the full answer here.... Continue Reading →
"Why do I need a will?" is a question I get asked often. Individuals incorrectly assume their assets are not large enough to warrant a will; but there's more to it than that.
This article originally appeared on NJMoneyHelp.com. Learn if you can appeal your homestead rebate if you missed the deadline.
401(k) balances are near all-time highs, leaving retirement savers feeling pretty good about themselves and their futures. Eventually though, we all have to take distributions from those accounts, and that includes paying taxes. To lessen the tax bite, financial pros recommend a few key tips.
If something were to happen to you and someone else had to manage your affairs, would they know what to do and where to find everything? Learn how to protect yourself and your assets.
This article originally appeared on NJMoneyHelp.com. Learn how you can obtain your homestead rebate after you've moved.
On February 22, we answered a NJMoneyHelp question regarding how 401(k) loan rules have changed. This resulted in a follow-up question, which we are answering here.
There's been a change in law about what happens to 401(k) loans that are not fully paid when you leave a job. Learn more.
Saving for retirement seems like a straightforward goal. Yet nearly 50% of people wishes they were saving more. Part of the challenge is knowing where to keep it. Learn about some of your options, and the rules to consider.
Medicare can be complicated. The New York Post asked us to answer this question recently: Can I opt out of Medicare Part D?
Tax season officially started this week, and the IRS maintains it is expecting to issue refunds within 21 days of when it receives and accepts a return - the same as always. Consider these tips to save your preparer time, and potentially save yourself money.
About 12% of charitable giving happens in the last three days of the year. But under the new tax plan, many taxpayers won't be able to deduct their donations. Howard Hook contributed to this article, outlining the new rules, explaining who can itemize, and reviewing some useful strategies.