Exact asset location depends on the percentage of a portfolio held in each of the three types of accounts as well as the percentage of the portfolio which is to be allocated to each selected sector. But the boost in after-tax returns is well worth the effort.
The IRS does not do a good job of helping people understand capital gains taxes. They provide a worksheet to help you calculate it, but it has so many steps that it’s nearly impossible to figure out what’s going on.
On April 25, David John Marotta discusses details of IRS form 1040 and other tax documents, how you can use your tax return to glean information about your financial habits, and ways to optimize your accounts.
With the federal tax filing deadline upon us, here are some articles on little-known tax tips, interesting facts, good advice, and general information about taxes. Some of these are applicable now, and some you might want to store away for next year.
Tax on capital gains is scheduled to rise and become much more complex at the end of this year. Keeping your head in the midst of these changes can help your bottom line. Government should tax either the value of an asset or its yield but not both.
The victors in the recent election have declared it open hunting season on the rich, which they evidently believe will solve our spending problems. Tax hikes everywhere are aimed at the most productive members of society.
Many families seek financial planning advice specifically for retirement. But if they wait too long, they miss an important tax-planning opportunity. A great strategy is to take advantage of the time between retirement and Social Security at age 70, the so-called gap years.