When a king is married, his spouse usually bears the title of queen. In this country, when a top elected official is married, the spouse traditionally gets the appellation first lady, though that position is just as likely these days to fall to a man. Our founders wanted to draw a clear distinction between foreign royalty’s pomp and privilege on …
Do New Year’s Update of Your Digital Estate and Beneficiaries So Someone Can Manage Your Finances If You Can’t By DAVID WALTERS
Do a New Year’s check of your estate-planning documents, making sure your spouse or some other trusted person has your passwords for your financial accounts. And make sure you have the correct beneficiaries. As part of your estate planning documents, you should include a list of all online accounts and passwords for your executor. Your will can stipulate what should …
YOUR MONEY: Year-End Tax Moves—Some Familiar, Some Not—from CPA and Financial Planner By REBECCA PAVESE
Make your year-end tax moves now before it’s too late. Tax planning is always a worthy exercise, but it’s even better if it minimizes your current-year taxes Here are tips for 2014. First, calculate your income, tax payments and deductions to date so you can figure out what steps to take in December. Too little tax withheld? Increase your withholding. …
CURRENT COMMENTARY: Making Sense Of The Oil Price Fracture By LARRY M. ELKIN
Fluctuating-gas-prices-have-made-Americans-more-acutely-aware-of-energy-issues.-Image-by-and-courtesy-of-Flickr-www.FutureAtlas.com-Blog. Remember all those predictions at the beginning of 2014 about how the year would end with gasoline selling for $2.50 a gallon and oil trading at less than $70 a barrel? Of course you don’t. Neither do I, because there were no such expectations. Yet here we are, just a few weeks from New Year’s Eve, with oil selling …
The Ossining Documentary & Discussion Series – December 6, 2014 @ 6:30 p.m., Free
The Ossining Documentary & Discussion Series from Robert Reich - December 6, 2014 @ 6:30 p.m., Free.
YOUR MONEY: Have Canadian Stocks or Wages? Make Sure You’re Not Getting Taxed Twice By LAURIE SAMAY
Many Americans own Canadian securities or earn wages in Canada. If you do, you’ll want to make sure that you’re not paying tax on the same income to both the Internal Revenue Service (IRS) and the Canada Revenue Agency (CRA). U.S. citizens and residents pay U.S. income tax on worldwide income, but those earning income in Canada may also be …
YOUR MONEY: Retirees Need Smart Withdrawal Strategy to Minimize Taxes By ANTHONY D. CRISCUOLO
New Medicare Surtax Adds Complexity A smart strategy for withdrawing money from taxable, tax-deferred, and tax-free accounts can save retirees a lot in taxes. Tax planning is crucial for every retiree, particularly for the affluent because of the new Medicare surtax. Withdrawing funds from your taxable accounts first is the general rule. When you sell stocks and mutual funds that …
YOUR MONEY: 529 Plans – Customize Your Glide Path By PAUL JACOBS
Getting the Right Allocation Now and in Future Depends on Many Things While many 529 college savings plans offer standardized glide paths that reduce risk as the child gets closer to college, these paths are one-size-fits all. Parents can do better. Instead of choosing the plan’s glide path, customize your allocations to achieve a better fit for your personal situation …
CURRENT COMMENTARY: How Unemployment Benefits Discouraged Job Creation By LARRY M. ELKIN
People generally do what you pay them to do. If you pay them to work, they work; if you pay them not to work, they don’t. I am not the first person to make this observation, nor is this the first time I have made it. But a recent study by the Federal Reserve Bank of New York puts an …
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