The U.S. Tax Court in 2014 re-wrote the rules on rollovers between Individual Retirement Accounts (IRAs).
Up until until January 1, 2015, an IRA account holder could withdraw IRA money from either a traditional or Roth IRA and have 60 days to redeposit the funds back into the same type of retirement account. No penalties or taxes were imposed in this "rollover" as long as the funds met the 60-day rule. The IRA investor could use this "60-day" rollover every 12 months on each IRA owned. This typ... [More]
They say that money can’t buy happiness. While that may be true, the topic of finances in relationships can often be the pace car in how far your relationship is going to sail or not sail into the sunset.
“Money problems” is still a front runner in the leading causes of divorce in the United States and has remained there for decades. A 2009 study found that couples who disagree over money once a week are 30% more likely to part ways than couples who have those same disagreemen... [More]
No formal application, no interest, and no credit history check- sounds like a pretty sweet deal, right? In most cases, this describes the Bank of Mom and Dad. Too often, parents are left in a financial dilemma by giving out zero interest loans to their children, or in some cases, just giving out free money.
As parents, you want to give your children the world and help them through all stages of life. Ultimately, there comes a time when the support you give your kids needs to shift from financia... [More]