Search

What Is a Tax Shelter? 03/22/2021 12:00am • The term tax shelter could have you thinking about wealthy people and businesses tucking away money in shady offshore accounts to avoid paying taxes. "Typically, tax shelter is kind of a dirty word," says Bill Smith, managing director of the national tax office for financial firm CBIZ MHM. However, This year’s college hoops tournament likely to set wagering records 03/20/2021 11:35am • When it comes to single-game action, nothing tops the action generated by the Super Bowl. But when it comes to a full on event from start to finish, March Madness draws the most wagering of any other event in America. And this year’s version is likely to set some records. The American Gaming As DC, Va. income tax deadlines extended 03/19/2021 05:45pm • D.C. and Virginia are extending the deadline for their residents to file their income tax returns and pay their taxes to May 17. DC extension The Office of Tax Revenue said Friday that the extension applies to all D-20, D-30, D-40, Standalone Schedule H, D-41, D-40B, and D-65 tax filers, and incl Md. House gives preliminary approval to $50 billion proposed budget 03/19/2021 07:27am • This content was republished with permission from WTOP’s news partners at Maryland Matters. Sign up for Maryland Matters’ free email subscription today. After debating social issues including vouchers for private schools and access to abortion, the House of Delegates gave initial approval t What to Know About the Kiddie Tax 03/19/2021 12:00am • In 1986, a law was passed that prevented parents from shielding money from taxes by transferring investments to their children's names. Before then, the children's investments were taxed at the child's low rate, and some wealthy parents would move investments to their children specifically to reduce 9 Best Municipal Bond Funds to Buy and Hold 03/19/2021 12:00am • State and local governments are in good shape.Like other asset classes, the municipal bond market rebounded after the initial sell-off last year because of the pandemic. Amy Magnotta, co-head of discretionary portfolios at Brinker Capital Investments, says state and local governments "are actually i Brokerage Account vs. IRA : Which Should You Invest In? 03/19/2021 12:00am • Saving for retirement is a long-haul kind of game. While there are many ways to save and invest your hard-earned money, you want to make sure you're picking the best investment tools that are right for you. You may be in a situation where you've maxed out your 401(k) and are considering other optio Now Is the Time to Convert Your Traditional IRA to a Roth 03/19/2021 12:00am • The impact of the pandemic along with low tax rates makes 2021 an opportune time to convert a traditional individual retirement account into a Roth IRA. But a Roth IRA conversion may not be the right financial move for everyone. A Roth IRA conversion makes sense when: -- Taxes are low.-- Your income Here's how Biden wants to raise taxes on the wealthy and corporations 03/18/2021 08:07am • Now that he's signed the Democrats' $1.9 trillion Covid relief package, President Joe Biden is turning to the next items on his legislative agenda -- and laying the groundwork for raising taxes on wealthier Americans to pay for them. Biden doubled down on vows he made as The Future of Housing in the Biden Administration 03/18/2021 12:00am • As is the case with many policy topics, when President Joe Biden was inaugurated on Jan. 20, many began to wonder how housing would be impacted under a new president. How will existing plans change and new issues be addressed, particularly as it relates to the affordability crisis exacerbated by th The Difference Between ETFs and Mutual Funds 03/18/2021 12:00am • EXCHANGE-TRADED FUNDS and mutual funds resemble each other and share many of the same qualities as they give investors the ability to diversify with low-cost options in their retirement portfolios. The differences in how these two types of funds are traded can affect the yield and capital gains in COVID-19 relief package funds child care initiatives in Maryland 03/17/2021 06:14pm • While many Marylanders are beginning to see bigger bank account balances due to checks received from the $1.9 trillion American Rescue Plan, they will also begin to see more funding for child care. "It has been projected that Maryland could end up losing over 78,000 licensed child care spots over Advisors Help Clients Navigate $1.9 Trillion Stimulus Package 03/17/2021 12:00am • Since President Joe Biden signed the American Rescue Plan into law, financial advisors have been working overtime to help clients navigate the $1.9 trillion stimulus package. The most discussed aspect of this coronavirus relief plan may be $1,400 stimulus checks, but it contains other critical comp Maryland Rep. Raskin presses IRS to extend tax deadline 03/16/2021 04:50pm • This content was republished with permission from WTOP's news partners at Maryland Matters. Sign up for Maryland Matters' free email subscription today. U.S. Rep. Jamie B. Raskin (D-Md.) is spearheading an effort to get the IRS to extend the deadline for Americans to file their 2020 federal taxes Hogan bans garnishment on latest round of federal stimulus checks 03/16/2021 10:14am • This content was republished with permission from WTOP’s news partners at Maryland Matters. Sign up for Maryland Matters’ free email subscription today. Gov. Lawrence J. Hogan Jr. (R) banned debt collectors from garnishing Marylanders’ latest round of federal stimulus checks Monday. Un