Tax-Loss Harvesting: How to Use Market Dips Before December 31st
You open your investment statement in late November, and your stomach drops. Some stocks are down 15%, others 20%. That tech fund you bought with such confidence in January? Down considerably. Your first instinct might be to look away and hope things improve. But those losses sitting in your portfolio could actually reduce your tax bill if you act strategically before year-end. This strategy is called tax-loss harvesting, and it's one...
How the One Big Beautiful Bill Act Changes Taxation of Social Security Benefits for Retirees
The Social Security Administration sent an email that made millions of retirees do a double-take. "The new law includes a provision that eliminates federal income taxes on Social Security benefits for most beneficiaries," it proclaimed, announcing the passage of the One Big Beautiful Bill Act. Seniors across the country started celebrating what seemed like the end of Social Security taxation. But the bill doesn't actually eliminate taxes on Social Security benefits...