5 Ways to Pay the IRS Less Next April
If you're still in shock from the amount of taxes you just paid, start working now to reduce what you send the IRS next year. Here are five ways you can shave your tax bill.
municipal bonds
13 Financial Resolutions for Retirees in 2013
Being retired means not having to worry about waking up early to get to work. But retiring doesn't mean its time to quit worrying about making your money work as hard as it can. As we begin 2013, we offer these 13 financial resolutions designed specifically for retirees.
How Killing This Tax Break for the Rich Could Hurt Everytown, U.S.A.
When state and local governments need money for public projects, they sell municipal bonds -- a popular investment among the wealthy because the interest they earn is tax free. Now, with the fiscal cliff looming, tax breaks like that one are under scrutiny.
Year-End Tips to Trim Your 2012 Tax Tab
Year-end tax planning is trickier this time around: Unless Congress compromises, all the Bush tax cuts will expire when 2013 arrives, and many popular tax breaks that expired at the end of 2011 may not get revived. Here's how you can lower what you owe the IRS, regardless of what happens in Washington next month.
Stockton, Calif.: The Bleeding Edge of a Scary Economic Trend
On Thursday, Stockton, Calif., became the biggest U.S. city ever to file for bankruptcy. But the real worry is how many other cities could be headed in the same direction, because the problems that busted Stockton are everywhere these days.
How Thousands of Wealthy People Pay No Taxes (It's Totally Legal)
Debate all you like about whether the rich pay their fair share in taxes, but this is certain: Some high earners pay no taxes at all. A recent IRS study found that 35,000 U.S. taxpayers earning $200,000 or more paid no income tax in 2009. Curious how they pulled it off? Read on...
Municipal Bonds Aren't Just for the Rich Anymore
This income investment has become more attractive recently. Yet because it's perceived as being strictly for the wealthy, many ordinary Americans never think twice about it.
Voila! Bankrupt Cities Are Solvent Again! (Or Not)
Last month, Harrisburg, Pa., tried to throw in the financial towel and declare Chapter 9, but a judge threw out the bankruptcy petition. That doesn't mean the city is magically healthy again, though, and it's not the only municipality in similar straits. Here's why it matters to the rest of the country.
Get Ready for Great Recession, Part 2
The capital of Pennsylvania just fell into bankruptcy. What? You didn't hear? Neither did the financial markets -- yet. The day after Harrisburg bit the bullet, the Dow barely trembled, while the Nasdaq actually rose slightly. But two of our smartest investors seem to think this is a very big deal indeed.
Alabama County Avoids Bankruptcy Filing
Jefferson County, Alabama's, sewer debt crisis is coming to a close. Commissioners voted Friday on a deal framework that will let it restructure and partially write off $3.14 billion debt, saving the county from filing for Chapter 9 in what would have been the largest municipal bankruptcy in U.S. history.
What Government Defaults Mean for Muni Bonds
U.S. municipalities have filed five bankruptcies this year, and -- next week -- Jefferson County, Ala., could make a sixth. Could city and county defaults shake the muni-bond market just as investors are fleeing to it amid stock-market declines?
Alabama County on the Brink of Bankruptcy
Investors and officials in Jefferson County, Ala., are trying to negotiate a deal to avoid bankruptcy by Thursday's deadline. If they're unsuccessful, the county could end up with the largest Chapter 9 filing in U.S. history, which could rattle the $2.9 trillion municipal bond market.
One Safe Way to Invest Now in Municipal Bonds
After respected banking analyst Meredith Whitney rattled the municipal bond market with her prediction of hundreds of billions of dollars in muni defaults, small investors dumped the bonds. That dire prediction may yet come true, but there are a few types of munis that still carry virtually no risk.
11 Smart Places to Invest Your Money Now
As the economic recovery takes hold and the investing landscape shifts again, it's important to adjust your investment strategy to take advantage of the new opportunities. Here are 11 areas experts think you should consider putting your money into right now.