September 2023

Green bonds are a type of fixed-income financial instrument designed to fund environmentally friendly projects or initiatives. They serve as a financial tool for raising capital to support projects and activities with positive environmental impacts. Here’s a closer look at green bonds and the benefits associated with them: Characteristics of Green Bonds: Benefits of Green […]

Tax-loss harvesting is an investment strategy used by investors to reduce their tax liability by selling investments that have experienced a loss in value. The goal is to offset capital gains and potentially lower the amount of taxes owed. Here’s everything you need to know about tax-loss harvesting, including rules and strategies: What Is Tax-Loss

The Roth IRA 5-Year Rule is a key provision that governs the tax treatment of withdrawals from Roth Individual Retirement Accounts (IRAs). Roth IRAs are retirement savings accounts that offer the advantage of tax-free withdrawals in retirement, but they come with certain rules and restrictions, one of which is the 5-year rule. Here’s a breakdown

A Simplified Employee Pension Individual Retirement Account (SEP IRA) is a retirement savings plan designed for self-employed individuals and small business owners. It offers several benefits, and there are ways to maximize these benefits. Here are some tips and tricks to help you get the most out of your SEP IRA: By implementing these tips

The mileage tax deduction, also known as the mileage expense deduction or the standard mileage rate, is a tax benefit provided by the Internal Revenue Service (IRS) in the United States. It allows individuals and businesses to deduct certain vehicle-related expenses based on the number of miles driven for eligible purposes. This deduction is primarily

Reducing the tax impact on retirement account withdrawals and maximizing your retirement savings should be part of your long-term financial planning strategy. Here are steps on how to pay less tax on retirement account withdrawals and maximize your savings: Diversify Your Retirement Accounts: Understand Tax Treatment: Contribute Regularly: Make regular contributions to retirement accounts to

The OASDI (Old Age, Survivors, and Disability Insurance) tax, commonly known as the Social Security tax, is a payroll tax system in the United States that funds the Social Security program. It is automatically deducted from the paychecks of eligible workers and their employers to provide financial support during retirement, in case of disability, or

The Saver’s Credit, formally known as the Retirement Savings Contributions Credit, is a tax credit in the United States designed to incentivize low to moderate-income individuals and families to save for retirement. It provides a financial incentive for eligible taxpayers to contribute to qualified retirement savings accounts, such as IRAs (Individual Retirement Accounts) and employer-sponsored

Taking out a loan to pay taxes should generally be avoided unless you have carefully considered all your options and determined that it’s the best course of action in your specific situation. Here are some reasons why you might or might not want to take out a loan to pay taxes: Reasons to Consider Taking

Selecting a tax-friendly state for retirement is a key consideration for many retirees because it can significantly impact your financial well-being during your retirement years. Here’s everything you need to know about tax-friendly states for retirement: What Are The Tax-Friendly States for Retirement? Tax-friendly states for retirement are states in the United States that have