After years of paying into the Social Security system, many seniors are surprised to learn that the benefits they receive after retirement may be subject to federal income tax. This is generally ...

Many retirees encounter an unexpected challenge each year: reducing taxes on their hard-earned Social Security benefits. While these benefits provide essential income for millions of older adults, ...

Calculating your RMD only requires two numbers. You'll need your retirement account balance as of Dec. 31, 2024. Check with ...

If you’re thinking about taking money from your 401(k) — maybe you need extra funds or you’re getting close to retirement — taxes might be on your mind. A 401(k) is usually a great tool for lowering ...

QUESTION: I own a limousine business. I have an offer from someone who wants to buy one of my older automobiles for about $10,000 more than Blue Book value. I’m inclined to accept the offer, but I’m ...

Planning mutual fund capital gains early helps investors reduce tax and avoid last-minute financial year-end stress.

Business owners need to understand how their business uses cash and how to spend the cash that comes in effectively. The best way to do that is through a budget.

Cost of goods sold (COGS) is the determination of how much it costs retailers, wholesalers and manufacturers to produce the goods they sell. For makers and resellers of products, COGS, sometimes also ...

Sometimes a limited liability company, or LLC, has a year with no business activity. For example, a newly formed LLC might not have started doing business yet, or an older LLC might have become ...

HARTFORD, Conn. (WFSB) - Your Connecticut car tax bill should have come in the mail this week, and viewers kept asking the I-Team why they were paying more this year if their car is getting older.

ChatGPT calculated taxing U.S. billionaires at the 22% rate of average Texans would generate $161 billion to $1.37 trillion annually depending on how you tax.