What the I.R.S. looks for and why. “Audit” is a word that can strike fear into the hearts of taxpayers. However, the chances of an Internal Revenue Service audit aren’t that high. In 2017, the most recent statistics available, show the I.R.S. audited 0.5% of all individual tax returns.¹ Being audited does not necessarily imply that the I.R.S. suspects wrongdoing. Th … [Read more...] about What if You Get Audited?
In this month’s recap: another rate cut from the Federal Reserve, a strong hint of a partial U.S.-China trade deal, and stocks reach record heights again. THE MONTH IN BRIEF Investors and traders found much to like in October. The S&P 500 gained 2.04% during the month, topping 3,000 again. The Federal Reserve made its third interest rate cut of the year. Word came … [Read more...] about Market Update (November 5th, 2019)
Here are some things you might consider before saying goodbye to 2019. What has changed for you in 2019? Did you start a new job or leave a job behind? Did you retire? Did you start a family? If notable changes occurred in your personal or professional life, then you will want to review your finances before this year ends and 2020 begins. Even if your 2019 has been … [Read more...] about End-of-the-Year Money Moves
A retirement savings vehicle designed for the smallest businesses. Do you work for yourself? Then take a look at the solo 401(k), which marries a traditional employee retirement savings account to a small business profit-sharing plan. To have a solo 401(k), you must either be the lone worker at your business or its only full-time employee.1 Imagine nearly tripling … [Read more...] about The Solo 401(k)
In this month’s recap: The Fed cuts interest rates, the price of oil spikes, and trade negotiations between the U.S. and China are rescheduled. THE MONTH IN BRIEF September brought an economic event that was widely expected: a quarter-point cut in short-term interest rates by the Federal Reserve. It also brought an attack on two of the world’s largest oil fields that t … [Read more...] about Market Update (October 4th, 2019)
In this week’s recap: the three Wall Street benchmarks advance as investors respond to newly scheduled U.S.-China trade talks and see a silver lining in the latest employment and manufacturing data. THE WEEK ON WALL STREET Stocks rose last week, with help from two developments: the announcement of further U.S.-China trade talks as well as August hiring and m … [Read more...] about Market Update (September 9th, 2019)
In this week’s recap: Wall Street finishes August with a rally, China decides to pause a potential response to oncoming U.S. tariffs, and two consumer confidence indices send different messages. THE WEEK ON WALL STREET Fears of an impasse in the U.S.-China trade dispute lessened last week. While additional U.S. tariffs on Chinese imports were scheduled to take effect o … [Read more...] about Market Update (September 3rd, 2019)
In this week’s recap: China unveils new tariffs, the U.S. responds in kind, Jerome Powell speaks at Jackson Hole, leading economic indicators rise, and stocks fall. THE WEEK ON WALL STREET Traders assumed that the week’s biggest news event would be Federal Reserve Chairman Jerome Powell’s speech at the annual Jackson Hole banking conference. Instead, China seized the h … [Read more...] about Market Update (August 26th, 2019)