It’s the 1% no one wants to be a part of: the share of Americans who get audited. The Internal Revenue Service is tracking down people who may be shorting the tax man by understating their income, exaggerating tax breaks and skipping out on other tax liabilities. And...
Tax Strategies for Small Business Owners
If you’re running your own business, then finding time to keep up on money-saving tax strategies can be a challenge — one that’s complicated by the fact that tax laws are constantly changing. Here are three simple tax strategies to keep in mind as Dec. 31 approaches....
How to Profit from Social Security’s Quirks
We all search for the best place to invest our savings. For almost every person who hasn’t yet started Social Security, delaying Social Security benefits is one of the best ways to save. Even some who have already started can benefit from some of Social Security’s...
Many Reasons to Offer 401(k)s (Including Owner’s Retirement)
Soon after Sabina Gault got her public relations firm up and running in 2008, she asked for a show of hands from employees interested in having a company 401(k) plan. The consensus? “Nobody wanted it,” said Ms. Gault, whose firm, Konnect Public Relations, based in Los...
Social Security at 62? Let’s Run the Numbers
For many retirees, Social Security benefits are seen as hot money on the table, to be devoured as soon as possible. But as with preparing and savoring a fine meal, a careful approach and delayed gratification may yield the highest rewards from the program....
The Politics of Income Inequality
The years from the late 19th and early 20th centuries were not the most egalitarian in American history. Robber barons roamed the economy, living off lavish rents generated by powerful cartels and industrial monopolies. The richest 1 percent of Americans reaped nearly...
Coping When Not Entering Retirement Together
For Daniel Ryan, turning 40 and 50 came and went. But sometime around his 61st birthday last July, he said he had an “old man crisis.” He did some simple math, and quickly concluded that living another 20 years would be considered a “full life.” Even if he remained...
25 Ways to Improve Your Finances in 2014
Are you ready to overhaul your spending patterns, start funneling more money into your bank account and buy better (and safer) products in 2014? If so, you’ve come to the right place. We’ve rounded up our favorite money stories to give you the bite-size nuggets you...
10 Worst Money Moves for the New Year
1. Set no savings goals Goals? Whatever. You’ll save if there’s money left over. People don’t plan to fail, they fail to plan. You’ve heard that before, haven’t you? It’s true. I don’t think anyone sets out to be on a paycheck-to-paycheck plan by the time they reach...
Year End Tax Tips for Retirees and Pre-Retirees
Black Friday already? Where did the year go? The good news: No matter whether you’re retired or on retirement’s doorstep, there’s plenty you can do before the end of 2013 to avoid giving Uncle Sam more than his fair share of your hard-earned income. Here’s a laundry...