There are tax-free limits on what you can gift in a year and during your lifetime. While it may feel better to give than to receive, the former may carry federal tax consequences, which dampens the cheer associated with bestowing a financial gift to a loved one or friend. But not all financial gifts incur
A volatile year in the financial markets can create opportunities for reducing your taxable income. Many investors use the closing months of the year to review their portfolios and assess their winning and losing investments. It’s also a good time to do tax planning for the upcoming filing season; decisions you make before year-end can
You can be generous with your loved ones during the gift-giving season without running afoul of the rules. One way many individuals try to avoid estate and inheritance taxes is to give money away during their lifetime, effectively reducing the wealth that will be subject to federal taxes when it’s passed on to heirs. This
A few astute moves could help promote a better after-tax return. As you weigh risk vs. return, you may risk taking an eye off taxes. A focus on tax efficiency could help you improve the effective yield from your portfolio. You can try to cut or delay taxes linked to investing. Consider placing the most
Raising a family is rewarding and expensive. Consider taking these steps to support your family financially through a program of smart investing. Building a career and raising a family requires management skills. Juggling your time, priorities, and money now while planning for the future can be daunting. Saving now to send your kids to college,
How much can you gift in a year, and a lifetime? Federal tax rules allow you to give away millions of dollars during your lifetime. You can make five-figure gifts of money or property to other individuals in any given year. These gifts may be made without tax consequences … as long as they fall
A few astute moves could help promote a better after-tax return. As you weigh risk vs. return, you may risk taking an eye off taxes. A focus on tax efficiency could help you improve the effective yield of your portfolio. You can try to cut or delay taxes linked to investing. Consider placing the most
