By Kelley R. Taylor From Kiplinger’s Personal Finance Question: I just got my year-end bonus, and it’s a lot less than I expected because of taxes. Is there any way to avoid taxes on bonuses? Answer: First and foremost, bonuses are taxed because they are considered taxable income. But the IRS also considers bonuses to…
Will Forgiven Student Loan Debt Be Taxable?
By Kelley R. Taylor From Kiplinger’s Personal Finance Question: I’m hopeful that my student loan debt will be forgiven if President Biden’s plan makes it through court challenges. But if it does, am I going to be hit by a tax bill? Answer: That depends on where you live. Student loan debt that’s canceled under…
Where to Stash Your Investments
October 17, 2022
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By Nellie S. Huang From Kiplinger’s Personal Finance Which investments you hold matters, but so, too, does where you hold them, whether it’s in a tax-advantaged account or a taxable one. The strategy of divvying up your assets into certain types of accounts to lower your tax bill is called asset location. The general advice…
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