Personal Finance
Latest Personal Finance News
Tax Implications of Withdrawing Money From a Trust
Pulling money out of a trust can feel straightforward, but the tax consequences are often anything but. Depending on how…
Capital Gains Tax on Equities: Rules, Rates and Calculation
When you sell stocks, exchange-traded funds (ETFs) or other equity investments for more than you paid, the profit is generally…
Who Is Exempt From Federal Income Tax: Individuals and Groups
Federal income tax applies to most people who earn income in the U.S., but the tax code includes limited exceptions.…
What’s a Realistic Retirement Budget? I’m 55 With $620k Saved and $68k Income
There are two common ways to think about a retirement budget: you can start with the lifestyle you want or…
How Long Does a Tax Extension Last? Deadlines, Rules and Penalties
If you’re scrambling to compile tax documents as the filing deadline approaches, you’re not alone. A tax extension can offer…
Can You Still Get Your Tax Refund During an IRS Audit?
If the IRS notifies you of an audit, and you expected a tax return, you probably have a lot of…
Can You Claim an Adult Child as a Dependent on Your Taxes?
Whether you can claim an adult child as a dependent on your taxes depends on their age, income and living…
My Mother Has $260k in an IRA. Is a Nursing Home Able to Take It?
A nursing home cannot directly seize funds held in an individual retirement account (IRA). However, retirement accounts in many states…
Do Seniors Over 80 Have to Pay Income Tax?
Reaching your 80s doesn’t automatically mean saying goodbye to income taxes. Many retirees live on fixed incomes and may owe…
Do Roth IRA Gains Get Taxed?
How Roth IRA gains are taxed depends on when and why you withdraw the money. You can typically withdraw growth…
