Tax

Rich people leverage 401(k) employer-matching options, create backdoor Roth IRA accounts to avoid future taxes, and create investment accounts for liquidity and access to low-cost, diverse funds.

Most job switchers contribute to 401(k)s at the low default rate fixed by the plan provider and often fail to account for the drop in savings rate when they move to a new employer despite a decent pay bump.

The proposed bill is expected to help kids become familiar with financial planning early on and level the playing field for Americans from all walks of life by offering each the chance to achieve financial freedom.

The senior is struggling to ask her husband of 30 years to cut his biological son and ex-wife from her portion of their combined net worth as they rarely help or stay in touch.

The senior woman is exploring ways to ask her boyfriend of three years if he would include her in his will despite the wealthy man having previously expressed no inclination to marry her.

George Appling and his partner Brian will help their kids in their formative years by paying for college, cars, and homes but avoid covering extravagant purchases and make sure teenagers work hard to receive their hard-earned money.

To be among the top 10% of wealthy retirees, you require a net worth of $1.9 million. These people often have diverse investment portfolios, strong passive income streams, and a balanced long-term mindset.

75-year-old Tim F. wishes he had claimed his Social Security earlier to fulfil his plans of spending it together with his wife, Sarah, who passed away at age 68.

The elusive winner of the $1.13 billion Mega Millions drawing in March has another six months to claim the prize. The unclaimed winning ticket was sold in the Neptune Township of Monmouth County, New Jersey.

Americans who have saved their entire lives in retirement plans face the risk of going broke in their golden years because many deplete their funds severely through premature withdrawals and lack proper tax planning for post-retirement income.

The new tax will be adjusted when Social Security recipients in these states file their federal income tax returns. However, some states are working to extend exemptions to qualifying seniors.

A 73-year-old US woman moved to Europe to live with his husband she married three years ago. She wonders if it's normal to give away the house they share to a distant relative while she pays the bills and supports their lifestyle.

The Texas resident wonders if a divorce would offer her rights to the husband's inheritance and their five rental properties and incomes.

Most investors rolling over their 401(k) funds into an IRA are unaware that the money sits as idle cash until actively invested in stocks and bonds.

The man lives in an assisted living facility and claims to have repaid $5,000 to his mom. He is now exploring ways to receive the entire inheritance payout, even if that means amending his mother's old tax returns.

More 401(k) participants contribute early and consistently for years while fully leveraging employer-matching contributions and major tax breaks.

Equity fund manager and investor Grant Cardone explained that a million dollars would make you rich in 1960, not today, as the value of the greenback has dropped steeply over the decades.

Millionaires often leverage provisions like backdoor Roth IRAs, 1031 exchanges, and business asset depreciation to reduce tax liabilities and preserve capital.

Soon after winning, Tyler faced challenges like state and federal taxes, entitled cousins wanting their fair share, and whether she should buy a new house.

Christiaan Van Der Valk, Vice President for Strategy at Sovos, discusses how governments mandate real-time digital tax reporting and how this presents businesses with opportunities to streamline operations and leverage data-driven insights.

While London has the highest number of estates subject to the tax, regions such as Sussex, the Cotswolds, and areas around Birmingham are expected to have the highest number of taxable estates per 100,000 residences.

A recent study shows that numerous UK investors are unaware of tax-efficient investment options such as ETFs, IFISAs and other products beyond traditional ISAs.

With the recently launched Developing Countries Trading Scheme (DCTS), the UK will extend tariff cuts to hundreds of more products from 65 developing countries.

The Duke and Duchess of Sussex have hired Bill and Melinda Gates' top staffer as their charity head.

BBC presenters want the organisation to help pay their tax bills after a years-long investigation.

Molly Scott Cato MEP, the Green spokesperson on tax justice in the European Parliament, refers to documents leaked to the Green group in Brussels.

In early 2014, the IRS released tax guidelines on cryptocurrencies and clearly spelled out that they are to be treated as property and not currencies.

John Auckland of TribeFirst, says HMRC's stricter guidelines may cause campaigners to stumble before they even get out of the blocks.

Authorities said thousands have already fallen victim to the scheme described as a "new twist on an old scam".

Legal practitioner and IBTimes UK columnist Martin Kenney writes 2017 has been another mega year for financial scandals.