Money

Can You Put Lottery Winnings in a Trust Fund & Not Pay Taxes on Them?

Can You Put Lottery Winnings in a Trust Fund & Not Pay Taxes on Them?

A lottery win means tax issues, as by federal law the IRS levies tax on all gambling and lottery income. How much you pay in tax depends on several variables, including where you ...

IRS Filing Requirements for Retired Persons

IRS Filing Requirements for Retired Persons

Many taxpayers tend to believe that their filing requirements are determined by their work designation -- that's only half true. Although retired people tend to pay less tax on ...

How Much Are the Penalties for Cashing Out a Traditional IRA Early?

How Much Are the Penalties for Cashing Out a Traditional IRA Early?

Technically speaking, you can cash out your traditional IRA any time you want and the Internal Revenue Service won't stop you. But Uncle Sam discourages you (and pads his own ...

Can You Get Cash Out of Your 401(k) Before You Retire?

Can You Get Cash Out of Your 401(k) Before You Retire?

A 401(k) plan is designed to help you squirrel away money for retirement, but that doesn't mean you must wait until your golden years to tap your cash. All of the money you stash ...

The Use & Misuse of Credit Cards

The Use & Misuse of Credit Cards

The use of credit cards is a controversial subject among many in the financial sector. Some proponents encourage responsible credit card use, particularly in emergency situations ...