Tag: Individual Tax

Once you reach age 73, tax law requires you to begin taking withdrawals — called Required Minimum Distributions (RMDs) — from your traditional IRA, SIMPLE IRA, and SEP IRA. It’s

As higher education costs continue to rise, you may be concerned about how to save and pay for college. Fortunately, several U.S. tax code tools and strategies may help ease

Saving for retirement is an important financial goal, and contributing to a 401(k) plan is a great way to achieve it. If your employer offers a traditional 401(k) or Roth

When considering the advantages of U.S. Treasury savings bonds, you may appreciate their relative safety, simplicity, and government backing. However, savings bonds, like all interest-bearing investments, come with tax implications

To help eligible parents offset the expenses of adopting a child, there are two tax breaks. In 2025, adoptive parents may be able to claim a credit against their federal

Medicare health insurance premiums can add up to big bucks — especially if you’re upper-income, married, and you and your spouse both pay premiums. Below are answers to FAQs regarding

If you’ve reached age 70½, you can make cash donations directly from your IRA to IRS-approved charities. These qualified charitable distributions (QCDs) may help you gain tax advantages. QCD Basics

Inflation can have a significant impact on federal tax breaks. While recent inflation has come down since its peak in 2022, some tax amounts will still increase for 2025. Next

The Inflation Reduction Act (IRA), enacted in 2022, created several tax credits aimed at promoting clean energy. You may want to take advantage of them before it’s too late. President-Elect Donald

Employee stock options remain a potentially valuable asset for employees who receive them. Many Silicon Valley millionaires got rich (or semi-rich) from exercising stock options when they worked for start-up