For most 401(k) plans, the 401(k) tax only applies to withdrawals. Most 401(k) plans are tax-deferred, meaning no income tax on contributions or earnings, interest, or dividends that...
When it comes to filing income tax returns, getting the lowest tax liability is not just about skill, it's about what you know. Unfortunately, many taxpayers lose deductions and...
This is an employer-sponsored pension plan that offers qualified employees a guaranteed payment during retirement. This is an alternative to the defined contribution plan, which allows...
The grantor, which can also be called the creator, settlor, trust maker, or trustor, is the party who forms the trust. For married couples, if the trust was established jointly, they...
If you are overwhelmed with student loan debt, there may come a time when it will be difficult for you to move forward. You make payments as at when due, but you are not even close...
Are you wondering if there is a hard rule on taxable income and non-taxable income? The answer is simple: all income is taxable unless it is expressly excluded by law. But, as you've...
Community property is a type of joint ownership of property between couples. With some variation between states, all property acquired or purchased by a couple during the marriage...
Taxation of trust fund incomeDeath and taxes are two things that you cannot avoid in life. While there are ways to minimize your tax participation, you certainly can't get rid...
A reverse mortgage is a means of generating income when you employ the equity in your home. This loan provides an excellent way for seniors to get money if finances are not working...