How to Update Tax Withholding at Schwab
The steps to declare your tax withholding elections are fairly simple to accomplish online.
#TBT Don’t Increase Your Bond Allocation In Bear Markets
There is an artistry to a bond allocation, and while historical analysis can only be suggestive, it does tell a strong narrative.
How To Distribute from A College America 529 Plan to an Account Owner
You can distribute any amount of money to the account owner for any reason, but only distributions which are reimbursing for qualified education expenses are tax and penalty free.
How To Distribute from A College America 529 Plan to an Account Owner
You can distribute any amount of money to the account owner for any reason, but only distributions which are reimbursing for qualified education expenses are tax and penalty free.
#TBT Are Democrats Or Republicans Better For The Stock Market?
This 2017 article reminds us, “Stock market returns have little to do with which party holds the White House.”
How To Distribute from A College America 529 Plan to a Designated Beneficiary
You can distribute any amount of money to the designated beneficiary for any reason, but only distributions which are reimbursing for qualified education expenses are tax and penalty free.
New Roth i401(k) at Schwab
As part of SECURE Act 2.0 legislation, an Individual Roth 401(k) plan is a new account registration type available to Schwab clients.
How to See Your Schwab RMD Online (2024 Update)
On June 2024, Schwab provided an update about viewing and taking your RMD on Schwab.com.
Q&A: How Should I Invest My Cash?
Our recommendation is to keep money that may be needed within the next six months invested in a money market fund.
How to See Closed Account Information at Schwab
If closing an account at Schwab is in line with your goals, take comfort in knowing that you are able to close your accounts at Schwab without losing access to your important documents.
Distribute Your First 401(k) RMD in April or December?
Within employer-sponsored retirement plans, there are special provisions for employees (not owners) who continue to work beyond their typical required beginning date.
How to Set Beneficiaries on Your HSA with Fidelity
Once you’ve open an HSA and have started making contributions, it is important that you set beneficiary designations on the account.
Q&A: Wash Sale: VFIAX and VOO?
The IRS has very limited case law on what constitutes a substantially different fund. However, here is what we do in our own trading.
How the Kiddie Tax is Calculated
Some investable assets in the name of the child can currently keep $2,300 of unearned income from the tax rate of the parents.
Can Taxable Life Insurance Benefits Contribute to an IRA?
If you have this fringe employer or former employer benefit, I hope you are able to take advantage of making small Roth IRA contributions throughout your retirement.
#TBT How to Make a Financial Independence Bucket
In honor of the Independence Day of the United States, this 2013 article reminds us to prepare for our own Independence Day.
2024 Tax Facts
Here is a reference chart with 2024 income tax rates, capital gains rates, retirement contribution limits, and more.
#TBT Harvest Major Capital Losses Whenever You Have Them
While you can only use $3,000 per year of capital losses to reduce your taxable income, you should bank as much capital loss as possible for other future uses.
#TBT Can I Use 529 Funds for Off-Campus Housing?
Yes, but housing is one of many expenses that are subject to a reimbursement limit. Here’s how to do it.
Two Ways to Fix Social Security Filing Mistakes
If you are still in your 60s, the good news is your decision doesn’t have to be permanent. You actually have two ways in which you can change your benefit amount.
Who Should Own My Child’s 529 Account to Assist the FAFSA?
With the grandparents as the owner rather than the parent, the student may have a better chance of receiving financial aid.
#TBT How to Pay Off Student Loans While Building Wealth
With many of us saddled in student loan debt well into our late thirties, our retirement cannot wait for us to be debt free. This 2016 rewrite of a 2007 article teaches you how to get started with savings while repaying your loans.
#TBT Tackling College Costs at the Eleventh Hour
The best way to climb the mountain of college costs is gradually, but if you need to make some last minute leaps, our government has a few tax-related strategies.
ABLE Accounts: Tax-Advantaged Savings for People with Disabilities
ABLE accounts offer people with disabilities a new opportunity to save and invest for the future.