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Category: Taxes

How to Minimize the Cost of Early IRA Withdrawals

Discover how to make early IRA withdrawals while avoiding the taxman — or at least minimizing his take.
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Keep More of Your IRA/401(k) Gains Through Smart Tax Planning

Asset allocation is crucial to your investing success. But if you have a tax-advantaged retirement account and a taxable investment account, so is asset location.
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It’s Tax Time!

The 2022 tax-filing season (for tax year 2021) is underway and — not surprisingly! — this year's 1040 (PDF) has a few changes. Kiplinger provides an overview: Many (but not all) of the new items on the 2021 1040 form
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Beware the Mutual Funds’ End-of-the-Year Tax Trap

Many stock funds have had considerable gains this year — and that means taxable distributions for investors with taxable accounts.
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Medicare Premiums and Deductibles to Rise Sharply in 2022

An increase in Medicare Part B premiums will eat into the 2022 cost-of-living adjustment announced last month by Social Security. (Part B covers physician services, outpatient care, certain home health services, medical
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The “Earnings Test”: How Earned Income Can Affect Social Security

If you're planning to keep working after claiming Social Security benefits, you need to know how your income might affect your benefits — and your taxes.
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Non-Cash Donations: Worth More in Tax Savings Than You Might Think!

In 1917, members of Congress worried that a tax increase imposed to fund America’s involvement in World War I might prompt people to cut back on charitable donations. So, along with the increase, Congress created a tax
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Your Tax Dollars at Work

Today is the tax-filing deadline for your 2020 income taxes — a bit later than normal because of COVID. (Taxpayers in areas affected by the February storms that hit Texas, Oklahoma, and Louisiana have until June
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May 2021 Sightings

The Financial Times asks “Are Retail Investors Safe In Today’s Heady Stock Markets?” and The Wall Street Journal reports on the proposed hike in the capital-gains tax.
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Commodities & Taxes

SMI's newly recommended commodities exposure is off to a great start in 2021, gaining +4.4% so far this year (through the close on January 19). That's considerably better than the +1.28% gain the S&P 500 has generated
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