Advisors

Tom Werner | DigitalVision | Getty Images There’s a growing list of essential things for taxpayers to know as the IRS embarks on a challenging season with limited staffing and a backlog from 2021 that’s still millions of returns deep. There were 6 million unprocessed individual returns as of Dec. 31, according to the IRS,

Jeffrey Coolidge | Photodisc | Getty Images Tax season has kicked off, and the IRS has already warned filing mistakes may cause delays amid staffing shortages and a massive backlog. While electronic filing offers the best chance for faster refunds, other moves may invite IRS scrutiny, according to tax experts.  The IRS closed 452,515 individual audits

A “PsychoKitty” NFT created by psychedelic artist Ugonzo displayed on a phone and a NFT logo displayed on a computer screen from a Crypto.com NFT marketplace. Justin Tallis | AFP | Getty Images It’s safe to say that we have all heard the term “NFT.” But what exactly are they and what are the pros

fizkes | iStock | Getty Images Getting married, having a baby, changing jobs and unemployment may affect your taxes, and it’s better to adjust withholdings early, financial experts say. The IRS expects a slice of every dollar you earn — taken from your paycheck, withheld from other income or sent quarterly. While overpaying may spark

Jose Luis Pelaez Inc. | Getty Images Markets endured a rough January, with the S&P 500 Index suffering its worst monthly performance in nearly two years. Technology was responsible for much of the carnage, as investors became spooked by some notable earnings misses and the prospect of four interest rate hikes by the Federal Reserve

10’000 Hours | DigitalVision | Getty Images Bonds take on a bigger role in retirement, as investors take chips off the table to protect their nest egg. Unfortunately, it’s easy to get tripped up — namely, by chasing returns and taking too much risk, according to financial advisors. “Bonds are the single biggest mistake I

Cabania | iStock | Getty Images Plus You can start filing individual income tax returns on Jan. 24, but there may be refund delays as the IRS combats a backlog and limited staffing, according to Treasury officials.  However, there may be ways to get your money faster, financial experts say. Although refunds are typically sent

Witthaya Prasongsin | Moment | Getty Images Interest rates may be going up in 2022 — and a bond ladder is one way for investors to manage the risk. Prices for existing bonds generally fall as interest rates (or yields) rise, since the yields on new bonds look more attractive by comparison. That dynamic played

Tara Moore | Getty Images Anyone facing required minimum withdrawals from retirement accounts should note there’s been a change to calculating those amounts. Starting this year, new IRS life expectancy tables — which are used to determine required minimum distributions, or RMDs — are in effect. While using the modified tables should be generally straightforward

MoMo Productions | DigitalVision | Getty Images If you bought or “exercised” company stock options in 2021, you need to watch for tax pitfalls when filing, according to financial experts.  A stock option is the chance to buy stock in the company that employs you at a specific price, with profit potential if the value

FatCamera | E+ | Getty Images Last year’s child-care expenses may be worth more at tax time than you realize. The child and dependent care tax credit, as it’s called, was expanded in several ways for 2021 alongside other tax changes. This means many families will get a bigger tax break and the credit could

“Taxes” engraved at IRS headquarters in Washington, D.C. Andrew Kelly | Reuters Next week may be the last chance for some filers to avoid a tax penalty and reduce their bill in April.   The deadline for fourth-quarter estimated tax payments is Jan. 18, applying to income from self-employment, small businesses, gig economy work, investments and