When Disaster Strikes: Deducting Casualty Losses
Tornado hit your house? You may be able to claim a casualty loss deduction on your federal income tax return. We explain in this week’s Insurance Tip.
Proving Noncash Charitable Contributions
When donating goods, the fair market value you claim can be challenged, and the burden of proof is with you. Learn more in this week’s Tax Tip.
Six Potential 401(k) Rollover Pitfalls
Planning to roll over your 401(k) to an IRA? We explain six potential pitfalls to watch out for in this week’s Financial Tip.
As a Non Spouse Beneficiary of an IRA, You have Several Options
If withdrawals are not taken from an inherited IRA in a timely manner, the funds could be subject to a 50% penalty tax. We explain in today’s Marietta Daily Journal. Read the Article
Employers: Important Due Date Approaching
Another tax form? Yep. Applicable large employers have to file a 1095-C to report health coverage offered to employees. Learn more in this week’s Business Tip.
What information will I need before shopping for an auto insurance policy?
You’ve been putting off shopping for auto insurance. It’s not that hard. We offer some guidelines to make it easier in this week’s Insurance Tip.
Take Advantage of the IRA-to-Charity Provision
If you’re fortunate enough to not need money from your RMD, you can donate it directly to a charity. Read all about it in this week’s Tax Tip.
Cost of Living: Where You Live Can Affect How Rich You Feel
You might make a lot of money, but the cost of living where you live affects how far your money goes. We explain in this week’s Financial Tip.
Non-Spouse Inherited IRAs
Our experts discuss a case study involving a non-spouse inherited IRA and what the withdrawal options are for the beneficiary.
Market Roundup: Week’s Gains Push S&P 500 into Positive Territory Year to Date
The week began with mixed results as the Dow Jones Industrial Average and NASDAQ added marginal gains, while the S&P 500 closed slightly in the red. Investors likely traded with caution in anticipation of comments coming from the Federal Reserve meeting that were due later in the week. Mixed results continued the following day as West Texas Intermediate crude dipped 2.3% to settle at $36.34 a barrel and a variety of economic news was released. U.S. retail sales decreased in February, falling 0.1%, which was in line with estimates. Sales for January were downwardly revised to a 0.4% retreat. Stocks were up midweek on comments from the Federal Reserve’s two-day meeting. Policymakers held interest rates unchanged and now anticipate two rate hikes this year versus December’s forecast of as many as four. Meanwhile, West Texas Intermediate crude tacked on 4%, providing a boost to Energy sector stocks. The Consumer Price Index dipped 0.2%; however, the core measure, which discounts food and energy, ticked up 0.3%. Thursday saw Energy stocks increase as crude oil touched $40.20 a barrel. The rally continued on Friday, spurred by a variety of economic news. In a preliminary measure, the University of Michigan Consumer Sentiment Index fell 1.7 points in March to a reading of 90, which was shy of the consensus forecast for a slight uptick. The rally from Wednesday to Friday was able to push the S&P 500 into positive territory year to date.