The IRS has released the annual inflation adjustments to several provisions of the tax code, which taxpayers will use when filing their 2026 federal income tax returns in 2027. Income Tax Rates The income ranges that apply to the seven…
One of the primary objectives of financial planning is to ensure that individuals have more than ample spendable cash flow during their retirement years. Navigating the careful balance between spending too much and possibly running out of funds or spending…
According to the Social Security Administration, Social Security retirement benefits replace, on average, 40 percent of an individual’s pre-retirement income. As a general rule, the longer you wait to begin claiming these benefits, the larger the monthly benefit you will…
One of the biggest challenges entrepreneurs must confront is how and when they will exit the businesses they spent most of their lives building. After all, business owners view their companies as extensions of their personal identities. They neither have…
The income you earn during the year is subject to federal taxes, regardless of whether you receive employment wages, business profits, investment returns, Social Security benefits and even gambling winnings. Conversely, property you receive as a gift, bequest or inheritance…
529 plans provide families at all income levels with a tax-advantaged method for funding their children’s future education. Generally, contributions are invested and allowed to grow free of federal income tax when withdrawals are used to pay qualifying higher-education expenses,…
Physicians and other healthcare providers recognize the inherent risks of their profession, including legal and financial exposure to claims of medical malpractice. However, this professional liability is merely the tip of the iceberg when considering the complex legal landscape that…
According to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), financial abuse of Americans aged 60 and older continues to grow at an alarming rate, with total losses exceeding $28 billion. While it is common for the…
As college graduates embark on their professional careers, they should consider the following savings strategies to help prepare them for a sound financial future. Like most things in life, the earlier you start planning and preparing, the more likely you…
Peer-to-peer mobile payment processing apps, such as Cash App, PayPal and Venmo, have made it easy for people to send and receive money with the click of a button. However, whether you are a business accepting these forms of payments…
