Financial Planning

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How Much Can I Withdraw From My Savings Account Without It Being Reported to the IRS?

Withdrawing funds from your savings account may require you to report your actions to the IRS for tax purposes. Failure to comply by these rules could result in legal penalties. Understanding when these rules apply can make the difference between financial health and severe ...

How to Best Save Money for Grandchildren

If you are planning on saving money for your grandchildren, you most likely are looking for an investment platform that features security, a high degree of control and potential yield from interest. The best way to save money for grandchildren will involve some combination of ...

Instructions for a Holographic Will

The best – and maybe only – reason to create a holographic will is because you're in immediate peril and have no other option for letting others know how you want your estate handled after your death. Holographic wills aren't legal in all states, and among states that do ...

Profit Share Vs. Equity Share

As an investor, you can benefit greatly from both profit and equity share. That being said, understanding how these two concepts are different from one another will help ensure that you make the most strategic investment decisions possible.

The Best Ways to Take Required IRA Disbursements

Read and follow IRS rules for required minimum distributions from your IRA to save money and prevent headaches down the road. The contribution period for a traditional individual retirement account will eventually end. RMDs are necessary to supply the Internal Revenue Service ...

How to Sell Stock to Fund a 529

To encourage saving for college, the government created qualified tuition plans, commonly called 529 plans, complete with tax-sheltered growth and tax-free qualified distributions. Qualified distributions include the costs of college, trade school and graduate school expenses. ...

Do You Need to File Taxes If You Receive Social Security Disability Benefits?

You do not file taxes if Social Security benefits are your only income. However, if you have other forms of income, there’s a possibility you owe taxes on your Social Security disability benefits. Depending on how much income you have, more than half of your Social Security ...

How to Get a Tax ID Number From the IRS for a Special Needs Trust Fund

A special needs trust is one you set up to provide for a loved one with a disability. This type of irrevocable trust -- one whose terms cannot be changed -- supplements the public assistance a person with a disability is eligible for, keeping her above the poverty level and able ...

What Sort of Liability Insurance Does One Need for a Sole Proprietorship?

Owners of sole proprietorships are personally liable for damages or injuries caused by their business operations. When they are sued, both their business assets and their personal assets are at risk. If you operate as a sole proprietorship, you can reduce the risk of losing your ...

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