Reuters Money

With tax deal in sight, it’s time for year-end planning

December 7, 2010

The tax flux appears to be over.

On Monday evening, President Obama announced the outlines of the deal that had been reached between Republicans, who wanted to see the Bush tax cuts extended for all taxpayers — including the wealthiest — and Democrats, who wanted those tax breaks to expire for couples who make more than $250,000 a year and singles who earn over $200,000 a year.

A bipartisan plan to end Medicare as we know it

December 2, 2010

STORM-IKE/Deficit commission co-chairman Erskine Bowles declared this week that the “era of debt denial is over.”

Deficit cutting need not be cruel

December 2, 2010

SPAIN-ECONOMY/Congress needn’t be cruel to be kind in cutting the U.S. budget deficit while saving popular programs like Social Security and Medicare.

3 ways to cope with year-end tax uncertainty

November 23, 2010

USA-TAXES/The end of the year is in sight. But with taxes still in flux, it’s easy to succumb to your own worst instincts and just block out all the noise: After all, how can you even think about your own year-end tax planning when you don’t know what the rules are, and may not know till after the end of the year?

Giving your own way: Doing charity right

November 22, 2010

QUAKE-HAITI/Charity can get complicated. There is no “wrong” way of giving, but you can certainly maximize your gift in a number of ways.

The IRS is sitting on $165 million: is any of it yours?

November 17, 2010

USA/The Internal Revenue Service has $164.5 million in refunds that it can’t send out because it doesn’t know where to send it, the agency said today. Roughly 111,893 taxpayers are owed an average of $1,471 each, and “the sooner you update your address information, the quicker you can get your money,” IRS Commissioner Doug Shulman said.

The deficit commission and tax reform

November 12, 2010

The last time this country had major tax reform was almost 25 years ago, in 1986. Could the national deficit commission’s proposals for tax reform result in major change, or will they end up consigned to the history bin of tax ideas that went nowhere?

What deficit cutting would mean for Social Security

November 10, 2010

The Social Security reform trial balloon is floating. How high will it go, and what would it mean to beneficiaries?

5 profitable post-election predictions

November 8, 2010

USA-ELECTIONS/Remember that classic carnival ride, the “tilt-a-whirl?” That’s what financial planning will be like under the new Congress, when Republicans control the House of Representatives and the Senate is divided.

Roth IRA conversions: Switch now to avoid higher taxes

October 29, 2010

If you’ve been thinking of converting some of your retirement assets to a Roth IRA, rising tax rates are just one more reason to do it sooner rather than waiting till next year.