Investing Strategies

Enes Evren There’s still time to make a pretax individual retirement account contribution for 2022 — and possibly trim your tax bill or boost your refund — if you qualify. For 2022, the IRA contributions limit was $6,000, with an extra $1,000 for investors age 50 and older, and the tax deadline this year is

Morsa Images | E+ | Getty Images If you’re on track to max out your 401(k) plan for 2023 and want to save more, your plan may have another option: after-tax contributions. For 2023, you can defer up to $22,500 into your 401(k), and savers age 50 and older can add another $7,500. Some plans

Marko Geber | DigitalVision | Getty Images Whether you’re filing a simple or complicated tax return, it’s critical to make sure it’s thorough — and you may have free online tools at your fingertips, in the form of IRS transcripts, to make the process easier. “Oftentimes, filing a complete and accurate return is much better

Mixetto | E+ | Getty Images For some retirees, heading back to work has emerged as an aspiration. Roughly 1 in 6 retired Americans say they are mulling over whether to get a job, according to a recent study from Paychex. On average, those “unretiring” individuals have been out of the workforce for four years.

Sdi Productions | E+ | Getty Images Married couples have a choice every year: file taxes together or apart. While the tax code generally rewards joint returns, there are scenarios where filing separately pays off, experts say. While “married filing jointly” involves a single return, “married filing separately” means you and your spouse have your

Hoxton/Sam Edwards | Getty Images After kicking off tax season with customer service and technology upgrades, the IRS this week unveiled a new option allowing taxpayers to respond more easily to certain agency notices.  The new feature lets taxpayers and professionals respond to nine notices online by digitally uploading requested documents, rather than responding by

Dobrila Vignjevic | E+ | Getty Images Health care in retirement can come with a hefty price tag. A new study looks at how much money a 65-year-old — who’s at the age of Medicare eligibility — would need to have set aside to secure a 50%, 75% or 90% chance of covering their health-care

Seb_ra | Istock | Getty Images A bill that’s pending in the Senate aims to battle a persistent danger to older adults and other vulnerable individuals: financial exploitation. In a nutshell, the measure would allow so-called registered open-ended investment companies — which can include mutual funds, exchange-traded funds, hedge funds, some annuities and other pooled

vitapix | E+ | Getty Images Planning to sell some investments this year? It’s less likely to affect your 2023 tax bill, experts say. Here’s why: The IRS made dozens of inflation adjustments for 2023, including the long-term capital gains brackets, applying to investments held for more than one year. This means you can have

Bill Oxford | E+ | Getty Images Tax season is underway, and the IRS has issued nearly 8 million refunds worth about $15.7 billion as of Feb. 3, the agency reported. The average refund amount was $1,963, down from last year’s average payment of $2,201 at the same point in the filing season. Of course,