When a loved one passes away in North Carolina, the person named to settle the estate — called the personal representative (PR) — steps into a demanding fiduciary role. Every bill paid, asset sold, or fee approved must align with state law. This article gives PRs a clear, simple road map that helps them figure … Read more
There are many tax breaks for wealthy people in the US and DC, which keeps most of the money in a few households. Wealthy households, for example, can use the three-step “buy, borrow, die” strategy to get massive capital gains tax advantages. This strategy protects the inheritance of wealth, especially extreme wealth, allowing the very … Read more
Hi there, Stan The Annuity Man, Americas annuity agent, licensed in all 50 states. Im so glad that you joined me for this blog. This is another blog that you can find in the comments section of one of our videos on the Stan The Annuity Man YouTube Channel. You can put in questions, submit … Read more
Are you tired of watching the government take a big chunk of your hard-earned retirement savings? Well I’ve got some good news for you! There’s a lesser-known retirement option that might just be the solution you’re looking for – the Tax-Free Retirement Account (TFRA). In this comprehensive guide, I’m going to break down everything you … Read more
Hey there! I’ve been deep diving into Social Security strategies lately (mostly because my wife and I are approaching that age where we need to make some serious decisions). The question of when my wife should claim her benefits has been keeping me up at night, and I’m guessing you might be wrestling with the … Read more
A Roth IRA is an individual retirement account that allows people under a certain income ceiling to contribute each year — You pay taxes on the contributions you make now, but in most cases, you can withdraw your money in retirement without paying additional taxes. What You’ll Discover in This Article Hey there! I’m super … Read more
These reviewers are experts in their fields and professional writers who often work for reputable newspapers and magazines like The New York Times and The Wall Street Journal. Our expert reviewers review our articles and recommend changes to ensure we are upholding our high standards for accuracy and professionalism. Our expert reviewers hold advanced degrees … Read more
[Update in April 2021] The walkthrough and screenshots in this post were from several years ago. Since TaxAct raised its prices in recent years, I stopped updating this post. Please consider switching to TurboTax, H&R Block, or FreeTaxUSA. By request from a reader, I give a walkthrough for how to report backdoor Roth in TaxACT. … Read more
Compare your average Social Security check with others of your age, and plan for the future. When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Getting a handle on the average Social Security check by age can help you fine-tune your retirement plans. As of July … Read more
Have you recently received a $200,000 inheritance and wondering if it’s enough to retire on? First off, congratulations on your windfall – though I know it likely comes with mixed emotions. When my uncle passed and left me some money, I felt both grateful and overwhelmed about making the right decisions. The big question is: … Read more