Claiming the Home Energy Audit Tax Credit
When considering making energy-saving home improvements, it may be helpful to have a home energy audit done. Fortunately, there is a federal income tax credit available equal to 30% of the amount paid for home energy audits, up to $150 per tax year. (There are also credits available for many other energy-saving expenditures.) The IRS has now provided some guidance on what is required to claim the credit for a home energy audit.
Navigating Tax-Advantaged Accounts for Retirement and College Savings
Planning for the future requires a strategic approach that not only considers long-term financial goals but also takes advantage of tax-efficient savings vehicles. When it comes to saving for retirement and funding a college education, understanding the tax advantages of specific savings vehicles is essential. There are tax benefits associated with retirement accounts, such as IRAs and employer-sponsored plans, as well as college savings accounts like 529 plans and Coverdell Education Savings Accounts (ESAs).
Redefining Retirement: Income Strategies for Today’s Savers
People are looking for new ways to ensure financial security in retirement beyond pensions and Social Security. In today's rapidly evolving financial landscape, there is a need to explore alternative retirement income strategies that go beyond traditional sources.
How to Find Unclaimed Retirement Benefits
Many Americans may be unaware they have unclaimed retirement benefits waiting to be rediscovered.
How Annuities Can Provide Lifetime Income for a Secure Retirement
Given the current economic state, annuities appeal more to consumers looking to maximize their retirement savings.
Gen Z, Women: Most Financially Stressed
Money may not buy happiness, but financial stress can take a significant toll on anyone’s mental well-being. From lingering debt to the effects of inflation on basic commodities, financial stress touches every generation — some more than others.
Do You Have a Forgotten 401(k)?
As of earlier this year, job switchers had left their money in some 29 million 401(k) accounts with former employers. That’s about 25% of the money in all 401(k) plans! This staggering number suggests that many individuals may have forgotten about their retirement savings tucked away in these accounts.
Why Financial Independence Is Delayed for Millennials and Gen Z
Achieving financial independence has always been a significant milestone in life. However, Millennials and Gen Z are taking longer than expected to achieve this goal. Various factors, including the changing dynamics of family support and low financial confidence, influence this delay. This article explores the reasons for the delayed financial independence of these generations and provides tips for navigating this new landscape