Now that you’ve seen last year’s tax results and can see where this year is heading, it may be a good time to consider adjustments to your income tax withholding. Getting It Right If you have too much tax withheld, you will receive a refund when you file your income tax return, but it might
The Americans with Disabilities Act (ADA), which passed more than 30 years ago, made it illegal to deny job opportunities to people based on their disabilities, mandated “reasonable accommodations” to make buildings accessible, and required most private businesses to offer equal service to disabled customers. About 61 million people in the United States (one in
24.3 million – Estimated number of 401(k) accounts left with former employers as of May 2021, with 2.8 million more left behind each year. If you have retirement assets with a former employer, you can leave them in the plan. But for more control, you can roll your assets to an IRA or to a
An initial public offering (IPO) is the first public sale of stock shares by a private company. IPOs are important to the financial markets because they help fuel the growth of innovative young companies and add new stocks to the pool of potential investment opportunities. When a company files for an IPO, new shares are
During your working years, you’re accustomed to living on an income from your job. When you retire, the income from employment ends. Social Security provides a steady income, but it probably isn’t enough to meet your retirement income needs. An annuity is an option that can provide a stream of income during retirement. With most
Many factors go into decisions on buying or selling shares of a particular stock, but the price/earnings (P/E) ratio can be a helpful starting point for evaluating whether a company’s stock is under- or overpriced. The P/E ratio is calculated by dividing a stock’s current price per share by the company’s earnings per share over
According to the Federal Reserve’s Survey of Consumer Finances, last taken in 2019, about one-fourth of U.S. families have received an inheritance, trust, or gift. The average inheritance received was $46,200, and the average inheritance expected in the future is $72,200. Wealthier households tend to inherit far greater amounts than those in lower wealth groups,
Eight states have no state income tax. Of the 42 states with a state income tax (and the District of Columbia), the top marginal income tax rate ranges from 2.9% to 13.3%. Most states (and D.C.) with an income tax have multiple tax brackets with graduated rates; nine states have only a single tax rate.
Like everything else, the pandemic greatly impacted driving habits. Workers who once had long commutes and drove to work every day suddenly found themselves working remotely. Others were spending more time at home as the result of a job loss or reduction in hours. In fact, there was a 55% decrease in the average number
If you have qualifying children under the age of 18, you may be able to claim a child tax credit. (You may also be able to claim a partial credit for certain other dependents who are not qualifying children.) The American Rescue Plan Act of 2021 makes substantial, temporary improvements to the child tax credit
