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Basis. A tax term that can be anything but obvious. Here is what you need to know.

Understanding Tax Terms: Basis - Covering the bases on basis This commonly used tax term is anything but common to most of us. Knowing the basics of basis can serve to lower your tax obligation when you sell property.

Most workers ignore Social Security benefits until they are ready to retire. Bad idea. This is how it works.

Social Security: Know the Variables - It's never too early to understand how it works When you're young, Social Security is often the last thing you think about. But it's NEVER too early to understand how it works. It can make a large difference in the amount of the checks you will eventually be receiving.

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Anyone who has stepped foot into a grocery store lately knows that shrinkflation is a real issue. Here are a few ways you can keep it from hurting your shopping budget.

Shrinkflation Is Real. Here's How to Fight Back Feeling the impact of shrinkflation? To avoid raising prices, some manufacturers are reducing the size of common grocery items. Here’s how to fight back.

There is no one-size-fits-all approach to when you decide to start receiving Social Security benefits. For couples, there are additional strategies that may help optimize their finances in retirement.

5 Social Security Claiming Options for Married Couples Age, health, finances key to building benefit strategy

Is your personal information secure? It should be, per the federal government. Here is what you need to know.

PII. Know it. Protect it. - The importance of personally identifiable information Personally Identifiable Information, or (PII), is in the spotlight at the IRS and FTC. You should know what it means and how it applies to you and the protection of your tax information. Here are some thoughts.

If you're considering delaying your Social Security benefits beyond the typical retirement age, there are several pros and cons to think through.

Should you delay your Social Security benefits? The right age to start receiving payments can differ.

Over 32 million small businesses need to submit information to a special federal agency, but many owners are completely unaware of this new requirement.

Small businesses are largely unaware of this law that could lead to big fines The Treasury Department requires a special filing from small businesses to a special department, but lack of advertising has lead to trouble.

Popular "buy now, pay later" programs are facing new rules to help protect consumers. Here's a helpful breakdown of the new protections and what programs they apply to:

Buying Now to Pay Later? Credit Card Protections Now Apply | Entrepreneur A new rule ensures that consumers are protected when they shop with buy now, pay later companies like Paypal, Affirm, Klarna, and Afterpay.

Keeping a good record keeping system is essential to your audit defense plan. Start now to avoid having to track down old receipts during an audit.

Don't Fall for These 5 Audit Myths Separating truth from fiction about IRS audits is an important exercise for everyone. Here are 5 audit myths that, if believed, can cost you.

In the world of finance and investing, historical data holds a key role in making educated decisions. But history doesn't always repeat itself, and performance data from the past isn't everything.

How Useful is Historical Data in Predicting Future Returns? - Retirement Researcher Read about How Useful is Historical Data in Predicting Future Returns? on Retirement Researcher

Is your activity a hobby or a business? You might be surprised by the tax savings in your future if you get this one right.

Turning Your Hobby Into a Business Turning your hobby into a business can get you a big tax benefit if you do it right - or a big tax headache if you do it wrong.

It can happen to the best of us -- you start a new job and forget to roll your old 401(k) over. But even if it's been several years, tracking that account down and getting those funds back is possible.

How to Find a Long-Lost 401(k) Account Learn three simple steps to find and claim an old account.

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Are your spending habits going off the rails when faced with stress or hard times? You might be falling victim to "doom spending." Discover what it is and how to manage it.

Doom spending: What it is, and how to be cautious In times of financial hardship, it feels tempting to succumb to doom spending - after all, wouldn't that little treat feel good now?

Selling stock at a loss? Know the wash sale rule before you do.

Understanding Tax Terms: Wash Sales - Surprise! Your stock loss is not deductible. If selling a stock or mutual fund to book a loss for your tax return, the wash sale rules are worth knowing. For the unaware, this rule could cost you a loss deduction.

It's normal to expect rate hikes in long-term care plans, but many are surprised by how much premiums can jump. Here's a handy guide to help you navigate those increases.

Op-ed: How to navigate premium increases for long-term care insurance A significant long-term care insurance premium increase can force people to choose between financial security and compromising their access to quality care.

Learn why you should partner with a tax expert if the IRS comes knocking. Also, how retiring early is catching on FIRE, tips to avoid the summertime tax blues, and ideas to tame summer energy costs.

Client Update Newsletter: July 2024 Responding to a letter from the IRS isn’t a weekend do-it-yourself project that you should attempt to tackle on your own. In this month’s newsletter, learn why you should partner with a tax expert if you receive either a notification saying the IRS will be auditing you, or a notice that...

While spending may not have taken a huge hit in the current economy, credit card debt and delinquency rates tell another story.

Debt — and delinquencies — are on the rise for Americans | CNN Business The economy is strong, the job market is healthy, and consumer spending keeps chugging along, but an increasing number of Americans are becoming financially overextended.

Make these common tax mistakes and you will pay more in taxes. Read to learn more.

Five Big Tax Mistakes - Don't let them happen to you! Every year thousands of taxpayers go through a gotcha with the IRS thanks to large, unexpected tax bills. Here are five common causes of tax surprises, ranging from lost refunds to retirement plan mistakes.

Earning more can mean reducing your financial stress and enjoying more luxury in life. But lifestyle inflation can still keep you paycheck to paycheck -- here's how to spot it and keep it in check.

Why You Should Know About Lifestyle Inflation Leveling up your lifestyle doesn't have to derail your financial journey.

It's not just consumers feeling the pinch of inflation; small businesses are feeling the pressure too. But there are signs indicating that price increases are starting to slow down.

Inflation Is Still a Big Problem for Small Businesses--but There's Cause for Hope While high costs remain a cause for concern for small companies, there's some good news when it comes to pricing and sales.

Is your career feeling like a dead end? Thinking of changing things up or unretiring? These 10 ideas might inspire you.

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Traits of scams can help you discover them before becoming a victim.

Clues You are About to be Scammed There are scams everywhere and unfortunately the IRS is one of the biggest tools to put on a scam. Here are some clues a scam is about to be done to you.

Change is a big part of every successful business's evolution. That's why it's helpful to have a plan that anticipates change before it happens.

Why Do I Need a Change-Management Plan? In business, change is inevitable; how you manage that change matters

Picking what day to retire can often come down to personal reasons. But a few days of the year have financial advantages too.

Is There a Best Day of the Year to Retire? Taking into consideration the time of the month and the time of the year can make a difference in your retirement income.

Summer activities for the kids can be deductible, but only if you follow the rules.

An Option to Deduct Summer Activity Expenses - Don't forget to save receipts The Child and Dependent Care Credit can be used to offset summer time care expenses for your qualifying dependents. These expenses don't just include sending your kids to daycare while you work. Here is what you need to know.

If you have multiple retirement accounts, it's important to consider which one you'll tap into first -- making a withdrawal plan could help minimize taxes and maximize your savings.

What is your retirement withdrawal strategy? Make your hard-earned savings go further.

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Whether you're a baby boomer focusing on estate planning or just thinking about your family and the future, here's a helpful list of things you can safely include in your will to pass on to loved ones.

12 Items Baby Boomers Can Safely Leave to Their Children in Their Wills - Clever Dude Personal Finance & Money A will is an important document that can provide financial help to children and insure that memories and family history are passed on.