Why you should start your retirement business before you retire

If you’re thinking about running a part-time business in retirement, researching and even starting it while you’re still working full-time is a smart move. “It’s great to see if there is a market for your business while not depending on it for an income,” said Phillip Phan, a Johns Hopkins Carey Business School professor as well as an editor on […]

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IRS tweaks free tax-preparation program to make it more accessible

WASHINGTON — The Internal Revenue Service is making changes to its partnership with private companies that provide free tax preparation to millions of filers, following intense criticism of the program earlier this year. The public-private partnership, called the Free File Alliance, was designed to provide free tax prep by a dozen private companies, such as H&R Block Inc. HRB, -0.09%  […]

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Workers over 50: how to adopt a new attitude about your job

Recently, while attending the Retirement Coaches Association conference in Ann Arbor, Mich. where I spoke about retirement trends, I heard a fascinating and insightful presentation I wanted to share. Life and retirement transition coach, therapist and author Dorian Mintzer and corporate trainer and adjunct professor Gillian Leithman (aka “Dr. Gill”) presented what they called “a new, courageous mind-set” for midlife employees. Mintzer and Leithman, of Boston and Quebec, […]

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Actress reportedly thought half-million payment to college admissions fraudster was akin to funding a campus library

Lori Loughlin doesn’t think she did anything wrong by allegedly paying a half-million dollars to get her daughters into USC — because she thinks the payoff was the same as making a donation, according to a report. “She honestly didn’t think what she was doing was any different than donating money for a library or athletic field,” an insider reportedly […]

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Former regulator met privately with KPMG while firm was under scrutiny

A former audit-industry regulator who advises one of the largest firms on audit quality was also one of two board members willing to meet privately in 2015 and 2016 with KPMG LLP, which was under significant scrutiny by the regulator because of chronically poor audit inspection results. Former Public Company Accounting Oversight Board member Jay Hanson testified in March during […]

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How to enjoy a frugal retirement

In May, 2019, Joan and Steve Reid, both 67, retired and moved from the affluent New York City suburb of Pearl River, N.Y., to the oceanfront community of Vero Beach, Fla. Their aim: retiring on a shoestring. It’s a goal many new retirees share, but one that can be tricky to accomplish. “We wanted a slower environment, near beaches,” says […]

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How to handle an inherited IRA

Q.: Hello Dan, when I inherited several traditional IRAs from my husband, I chose to place them into inherited IRAs. My husband and I were both born in the same year. I’m currently under 59½. Is there any penalty or rules against transferring these inherited IRA or BDA accounts into IRAs under my name now or a few years down […]

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Make sure you do this retirement reality check

Do you have enough money saved up to retire when you plan to? Many people think they do but haven’t actually done the math. In fact, as an actuary and retirement adviser, I’ve seen too many people in their 50s and 60s shy away from assessing their retirement resources, either because they don’t know how or are too scared to […]

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Customer service at the IRS is ‘stretched so thin that things could go very badly wrong,’ says agency watchdog

The Internal Revenue Service’s in-house public advocate is adding to her recent warnings that the agency needs more money in order to avoid breakdowns. Nina Olson, the national taxpayer advocate, made the following remark Thursday on Capitol Hill: Her comments came during a hearing on the current tax filing season that was held by the House Ways and Means Committee’s […]

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