Financial Planning

401(a) vs. IRA

401(a) vs. IRA

Although both 401a accounts and IRAs are types of retirement accounts, there are a variety of differences between them. Who is allowed to contribute, how and when you are taxed ...

Do You File Taxes Separately or Together?

Do You File Taxes Separately or Together?

Marriage impacts on many aspects of life that you may not have considered before walking down the isle, such as filing tax returns. There is sometimes confusion as to whether ...

Do 401(k) Contributions Reduce Earned Income Credit?

Do 401(k) Contributions Reduce Earned Income Credit?

The earned income credit (EIC) is available for employed and self-employed taxpayers with low income. Several factors affect the amount of the credit available and the credit ...

Basic Stock Market Facts for Beginners

Basic Stock Market Facts for Beginners

The stock market can be daunting for the beginning investor. There are thousands of stocks and a huge amount of information distributed by the financial media and Internet. There ...

401(k) Disbursement Calculations

401(k) Disbursement Calculations

If you are buying a home, are stricken with a financial hardship or are at least 59 1/2 years old, you can take distributions from your 401k plan. You can also roll your 401k into ...

Property Tax Lien Information

Property Tax Lien Information

A lien can be placed on a property for many reasons. These include failure to pay property taxes, income taxes, or a mechanic's lien, which results from failure to pay a ...

Are Christmas Bonuses Taxable?

Are Christmas Bonuses Taxable?

When it comes to receiving bonus compensation from your employer, a number of factors come into consideration as far as taxes go. Tax laws are complex and depend a great deal on ...

Are 401(k) Distributions Taxable in Pennsylvania?

Are 401(k) Distributions Taxable in Pennsylvania?

Pennsylvania generally does not charge income tax on distributions from a 401(k) plan, as long as you receive those distributions after age 59 1/2. This makes Pennsylvania ...

About Early Filing Income Tax Loans

About Early Filing Income Tax Loans

Every year, many Americans take out early income tax loans from their filing agent. Many of these loans carry hefty fees that must be paid back when the taxpayer's income tax ...

Income Tax Preparation Checklist

Income Tax Preparation Checklist

Many taxpayers arrive at their tax preparer’s office only to discover that they’ve forgotten a piece of information necessary for filing their return. Part of the ...

How Do 401K Loans Work?

How Do 401K Loans Work?

A 401(k) loan provides a quick source of emergency money for many employees. Americans are especially prone to borrow from retirement accounts when home equity credit lines get ...

What Is a Stock Market Cap?

What Is a Stock Market Cap?

A stock market cap is not a maximum. The word cap is market jargon for capitalization. Market capitalization is a measure of value for stocks and markets. Understanding market ...

Does a 401(k) Get Passed Onto Children?

Does a 401(k) Get Passed Onto Children?

A 401(k) plan is designed to help you save for your retirement, and ideally, you won't outlive your money. This means that there's a good chance there will still be funds in your ...

What Usually Happens to the Stock Market in January?

What Usually Happens to the Stock Market in January?

The stock market provides investors with highs and lows throughout the year. But an atypical anomaly has emerged, thanks to market research. Throughout the history of the stock ...

Can the Government Take Back Child Support Out of Your Tax Return?

Can the Government Take Back Child Support Out of Your Tax Return?

When you file your federal tax return, you can usually expect to receive your refund as quickly as eight to 15 days later. Some taxpayers are surprised to find that their refund ...

How to Get Your 401(k) Without Quitting Your Job

How to Get Your 401(k) Without Quitting Your Job

A 401(k) plan is designed to help you save money for retirement. At that point you can take regular distributions of your money, typically divided into enough annual payments that ...

What to Do with 401(k) at Retirement?

What to Do with 401(k) at Retirement?

During your working years, your 401(k) account is a benefit for saving money and lowering your income tax bill. Once it is time to retire, the money accumulated in your 401(k) may ...