Financial News from Kiplinger

  • Worst States for Retirement 2015 Kiplinger - Sat, Apr 18, 2015 12:56 AM AEST
    Worst States for Retirement 2015

    We also took into account the presence of a robust retirement-age population. Unfriendly state tax laws for retirees add to their burden: Utah is one of the few states that taxes Social Security benefits.

  • 10 Ways to Waste Your Tax Refund Kiplinger - Wed, Apr 15, 2015 1:10 AM AEST
    10 Ways to Waste Your Tax Refund

    The smarter way to spend your tax refund: Before you take on more debt, pay off the debt you already have. The smarter way to spend your tax refund: Rather than head to the mall with your refund, go to the bank to open an interest-bearing savings account to start an emergency fund--or build upon an emergency fund you already have. The smarter way to spend your tax refund: Rather than gamble away your money, put it to work for you in a retirement account. You can contribute the full $5,500 as long as your income falls below $116,000 if you're single, and $183,000 if you're married and filing a joint tax return.

  • Tax Day Freebies and Deals Kiplinger - Tue, Apr 14, 2015 1:22 AM AEST
    Tax Day Freebies and Deals

    Taxpayers can ease the pain of filing a tax return by taking advantage of special offers on or around April 15.

  • 26 Secrets to Save on Travel Kiplinger - Sat, Apr 11, 2015 6:42 AM AEST
    26 Secrets to Save on Travel

    Follow our guide to bagging the best bargains on your next vacation.

  • How to Pick the Best Place to Retire Kiplinger - Thu, Apr 9, 2015 5:43 AM AEST
    How to Pick the Best Place to Retire

    Narrow your choices by doing online research, and then plan to visit in person before settling on a new locale.

  • Don't Throw Away These Tax Records Kiplinger - Tue, Mar 31, 2015 1:22 AM AEDT
    Don't Throw Away These Tax Records

    After you file this year's tax return, these are the old documents you should keep and the ones you can toss.

  • 3 Ways to Guarantee Retirement Income for Life Kiplinger - Thu, Mar 26, 2015 4:56 AM AEDT
    3 Ways to Guarantee Retirement Income for Life

    Insurers are rolling out a variety of annuities that they contend address baby boomers' desire for flexibility and choice.

  • Best Times to Buy Big-Ticket Items Kiplinger - Fri, Mar 20, 2015 2:42 AM AEDT

    The best deals on bicycles appear during the off-season - in other words, the cold months, says Kristin Cook, managing editor of Ben's Bargains, a Web site that specializes in finding online deals. Furniture sellers including IKEA and Overstock.com slash prices as much as 70% on select items during Presidents' Day sales, he says.

  • Smart Moves to Save on Your 2014 Tax Return Kiplinger - Sat, Mar 14, 2015 7:08 AM AEDT
    Smart Moves to Save on Your 2014 Tax Return

    Can't get through to the IRS? Forget the feds. We have answers that could save you a bundle.

  • 15 IRS Audit Red Flags Kiplinger - Sat, Mar 7, 2015 2:10 AM AEDT
    15 IRS Audit Red Flags

    Ever wonder why some tax returns are eyeballed by the Internal Revenue Service while most are ignored? Normally, the passive loss rules prevent the deduction of rental real estate losses.

  • Worst Things to Buy in Bulk Kiplinger - Tue, Mar 3, 2015 2:56 AM AEDT

    Thinkstockphoto Repeat after me: Bigger isn't always better. Yes, you certainly can save money by buying some things in bulk. But it's a mistake to think that the biggest package you can find at Costco ...

  • Make Your Retirement Savings Last a Lifetime Kiplinger - Thu, Feb 26, 2015 4:40 AM AEDT

    To boost a nest egg's longevity, advisers and academics are increasingly turning to 'dynamic' drawdown strategies that adapt to changing circumstances.

  • 10 Costly Mistakes Shoppers Make at Supermarkets Kiplinger - Thu, Feb 26, 2015 2:42 AM AEDT
    10 Costly Mistakes Shoppers Make at Supermarkets

    You could easily save money on groceries by shopping smarter.

  • Money Mistakes Couples Make Kiplinger - Fri, Feb 13, 2015 3:40 AM AEDT
    Money Mistakes Couples Make

    Why it's a mistake: If your significant other's name is the only one listed, "you leave yourself open to being thrown out on the street at a moment's notice" if you break up, says Kevin Reardon, a certified financial planner and owner of the Pewaukee, Wis.-based financial planning firm Shakespeare Wealth Management. Couples should also consider drafting a cohabitation agreement that clearly states the living arrangements they've agreed to. You can seek out the help of a lawyer in writing a cohabitation agreement, but a basic agreement can cost up to $2,000, she says. How to avoid it: Early and frequent communication with your sweetheart is critical to help avoid fights down the road, says Cathy Pareto, a financial adviser in Coral Gables, Fla. Several crucial issues should be up for discussion before marriage, including how much money each person earns, where it comes from, where it has been and will be saved and invested, and where it's spent each month.

  • How 6 Types of Retirement Income Are Taxed Kiplinger - Wed, Feb 4, 2015 3:16 AM AEDT
    How 6 Types of Retirement Income Are Taxed

    Consider the tax tab your income sources will generate in retirement.

  • 8 Best Retirement Freebies Kiplinger - Sat, Jan 31, 2015 7:22 AM AEDT
    8 Best Retirement Freebies

    Older adults can take advantage of these retiree-friendly goods and services at no cost.

  • Believe-It-Or-Not Tax Deductions Kiplinger - Fri, Jan 30, 2015 4:03 AM AEDT

    On the other hand, your fellow taxpayers have successfully claimed write-offs for many things that most of us wouldn't even imagine, ranging from cat food to a casualty loss for a vehicle totaled by a drunk driver. He claimed he was entitled to a $9,000 casualty loss. The Tax Court said that most of the $160,000 was a deductible business expense because the firm obtained new business connections, favorable construction financing deals and other similar benefits from its sponsorship. Nevertheless, the Tax Court allowed him the write-off because he translated what he saw and heard in the music scene and taught it to his students.

  • Tax Breaks for the Middle Class Kiplinger - Fri, Jan 9, 2015 4:43 AM AEDT
    Tax Breaks for the Middle Class

    If you believe that tax breaks are for millionaires and companies with offshore subsidiaries, you're probably paying too much to the IRS. In recent years, lawmakers have enacted dozens of tax incentives targeted at middle-class families. Taking full advantage of these tax breaks is particularly important for dual-income couples because there's a good chance they'll get hit by the marriage penalty--when two individuals pay more in taxes as a married couple than they would pay if they were both single. Anyone with earned income (meaning income from work rather than investments) can contribute to a traditional IRA, but not everyone who contributes can claim a tax deduction.

  • Where Do You Rank as a Taxpayer? Kiplinger - Fri, Jan 9, 2015 3:27 AM AEDT
    Where Do You Rank as a Taxpayer?

    Do you know how you compare with your fellow taxpayers when it comes to the income you make and the taxes you pay? We have the answer.

  • Tax Savings for Older Families Kiplinger - Thu, Jan 8, 2015 7:57 AM AEDT
    Tax Savings for Older Families

    Time claiming Social Security benefits, keep careful records of necessary improvements to your home or car, and tote up out-of-pocket costs of doing good.

  • Tax Planning for Sending Your Kids to College Kiplinger - Thu, Jan 8, 2015 7:57 AM AEDT
    Tax Planning for Sending Your Kids to College

    Higher education comes with a higher and higher cost. Take advantage of tax breaks to ease the financial pain.

  • Tax Planning for Newlyweds Kiplinger - Thu, Jan 8, 2015 7:57 AM AEDT
    Tax Planning for Newlyweds

    Will getting married cut your tax bill or will you fall victim to the marriage tax penalty?

  • The Most Overlooked Tax Deductions Kiplinger - Thu, Jan 8, 2015 2:56 AM AEDT
    The Most Overlooked Tax Deductions

    You see, Congress offers itemizers the choice between deducting the state income taxes or state sales taxes they paid. So if your state doesn't have an income tax, the sales tax write-off is clearly the way to go. In some cases, even filers who pay state income taxes can come out ahead with the sales tax choice. This isn't a tax deduction, but it is an important subtraction that can save you a bundle.

  • How to Help Your Aging Parents Kiplinger - Wed, Jan 7, 2015 4:43 AM AEDT
    How to Help Your Aging Parents

    Here are the basics of meeting the financial needs of mom and dad as they get older.

  • Five Steps to Hiring a Tax Pro Kiplinger - Wed, Jan 7, 2015 4:33 AM AEDT
    Five Steps to Hiring a Tax Pro

    Need professional help with your return? Here's how to find the right person for the job.

  • 10 Things You Must Know About Social Security Kiplinger - Fri, Jan 2, 2015 4:20 AM AEDT

    For many Americans, Social Security benefits are the bedrock of retirement income. Maximizing that stream of income is critical to funding your retirement dreams. By educating yourself about Social Security, you can ensure that you claim the maximum amount to which you are entitled. Your age when you collect Social Security has a big impact on the amount of money you ultimately get from the program.

  • Smart Ways to Lower Your Taxable Income Kiplinger - Fri, Dec 12, 2014 4:33 AM AEDT

    Reducing your taxable income is one of the most effective ways to lower your taxes, with some moves doing double duty as both deductions themselves and as a means to slide under income thresholds at which other taxes would kick in. While it's late in the year now, there's still time to take steps that will lower the amount of income you must report on your 2014 tax return. Money contributed to an employer-sponsored retirement plan, such as a traditional 401(k), isn't included in your taxable income. If you have self-employment income from a side job, you can sock away even more.

  • Figuring the Tax Bill on Social Security Benefits Kiplinger - Tue, Dec 9, 2014 5:22 AM AEDT
    Figuring the Tax Bill on Social Security Benefits

    If you know the formula for taxing benefits, you may be able to reduce what you pay.

  • 9 surprising things that are taxable Kiplinger - Thu, Dec 4, 2014 3:24 AM AEDT
    9 surprising things that are taxable

    If you've picked up some extra cash through luck, skill or criminal activities, there's a good chance you owe taxes on that money as well. Here are nine things you may not know are taxable.

  • Best strategies to boost your Social Security benefits Kiplinger - Thu, Dec 4, 2014 2:58 AM AEDT
    Best strategies to boost your Social Security benefits

    Follow our road map to the best strategies for claiming your benefits and boosting your retirement paycheck.

  • Best Doorbuster Deals for Black Friday at Toys "R" Us, Macy's, Walmart, Sam's Club, and More Kiplinger - Wed, Nov 26, 2014 2:09 AM AEDT
    Best Doorbuster Deals for Black Friday at Toys "R" Us, Macy's, Walmart, Sam's Club, and More

    These items will be deeply discounted the day after Thanksgiving.

  • Service Providers You Should Tip for the Holidays Kiplinger - Thu, Nov 13, 2014 7:42 AM AEDT
    Service Providers You Should Tip for the Holidays

    Also consider including a handwritten note, specifying what you appreciate about the person and her services, says Diane Gottsman, etiquette expert and founder of The Protocol School of Texas.

  • Great Places to Retire Kiplinger - Fri, Nov 7, 2014 3:49 AM AEDT
    Great Places to Retire

    Thinkstock As part of Kiplinger's annual best list , which rounds up the year's best financial products and services, we picked the five best destinations for retirees to spend their golden years. Depending ...

  • Guide to Picking the Best Health Insurance for 2015 Kiplinger - Thu, Nov 6, 2014 2:40 AM AEDT
    Guide to Picking the Best Health Insurance for 2015

    Whether you get coverage through your employer or buy it on your own, use our strategies to make smarter choices during open enrollment.

  • 6 Savvy Moves to Stretch Your Retirement Savings Kiplinger - Fri, Oct 31, 2014 1:21 AM AEDT
    6 Savvy Moves to Stretch Your Retirement Savings

    You set aside part of your paycheck in either an employer-sponsored retirement plan or a retirement account that you set up on your own, such as an IRA. In a recent Wells Fargo survey of middle-class Americans, who had a median household income of $63,000, 70% of respondents reported having a company retirement plan.