Investing News

As your child moves toward adulthood, you face several milestone decisions that involve, in part, a desire to help your child become more independent and responsible. But one milestone for your child that you may not anticipate—even though it will be part of their growing-up experience—is filing that first income tax return. Key Takeaways Children generally
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What Is Venmo? Venmo has emerged as one of the most popular apps for electronically transferring funds from one party to another. Its explosive growth is largely driven by millennials, who even use its name as a verb, as in: “I’ll Venmo you for the food.” Venmo was originally created by Iqram Magdon-Ismail and Andrew
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Unlikely as it may seem, there are some beneficiaries who prefer not to receive inherited assets. The reasons vary. Often the beneficiary would like the assets—such as a traditional or Roth IRA or other inherited retirement plan—to be given to someone else. Other times the intended beneficiary does not want to be taxed on the assets.
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The calls for full disclosure grow with every accounting scandal. The domino-like procession of corruption including Worldcom, Enron, and Tyco back in the early 2000s brought manipulative accounting to the forefront for the first time, and prompted calls for legislation and accounting reforms all aimed at forcing corporations to make frank and full disclosure in
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What Is a 529 Savings Plan? Families need to save as much as possible, as early as possible to get ahead of rising education costs. According to a research report from CollegeBoard.org, the average cost of attending a public four-year college, including tuition and fees, in the 2021 to 2022 school year is $10,740 for an
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If you’ve been diligently saving for retirement through your employer’s 401(k) plan, you may be able to convert those savings into a Roth 401(k) and gain some added tax advantages. Key Takeaways Many companies have added a Roth option to their 401(k) plans. Traditional 401(k)s and Roth 401(k)s are taxed differently; traditional ones use pre-tax
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In this article MON Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images Cryptocurrencies have had yet another wild year. Bitcoin, the world’s largest digital asset, has seen a roughly 65% gain since January — with some
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The amount of workers’ earnings subject to Social Security taxes is capped each year (called maximum taxable earnings). The federal government increased the Social Security cap significantly for 2021. In 2021, the maximum earnings subject to Social Security taxes is $142,800. These increases are meant to keep benefits on track with inflation or the pace
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U.S. equity markets rebounded this week with the Nasdaq and S&P 500 leading the gains as investors focused on more strong earnings reports and hopes that corporate profits will continue to expand in the third and fourth quarters. Those profits will be challenged by uncertainty around the delta variant and the impact it could have
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