How to deal with 2013 cap gains tax hike
The impending jump in capital gains taxes has prompted a flood of nervous calls to financial advisers in recent months.Less than a month remains until the maximum rate of 15 percent on long-term gains rises to 20 percent unless Congress extends the Bush-era tax cuts.On top of that, the healthcare reform package imposes a new 3.8 percent Medicare tax on the investment income of high-income... READ MORE
Some facts about the new LED light bulbs
They’re pricey, but they promise to shed a lot of light and cost you less over time.1. Incandescents are dead. As manufacturers phase out traditional light bulbs that don’t meet new federal standards for efficiency, the first to go are 100-watt bulbs in 2012. The phase-out continues with 75-watt bulbs in 2013 and 60-watt and 40-watt bulbs in 2014. You could substitute halogens... READ MORE
The best investments when rates are low
Risk-averse investors, prepare to be disappointed a good while longer. Expect interest rates to remain low at least three more years, with investments earning very little unless you’re willing to accept plenty of risk.Money-market mutual funds are likely to continue paying barely above zero, with 10-year U.S. Treasurys yielding less than 2 percent.That’s the outlook after the... READ MORE
RivCo educates locals on tax savings
Riverside County’s Community Action Partnership (CAP) is seeking to educate and support local individuals and families through a program promoting special tax credits that could put more money back in taxpayers’ pockets, benefiting the local economy with greater consumer spending.CAP is accepting applications for volunteers to become IRS-trained and certified in order to support ... READ MORE
Protecting your portfolio from inflation
The Federal Reserve announced in September that it would engage in its third round of “quantitative easing” by purchasing $40 billion per month of mortgage-backed securities to spur economic growth and help reduce unemployment.Whether or not the plan will work is subject to debate. What is not debatable is that the Fed’s action is stirring fears of inflation.Inflation... READ MORE
Taking the bite out of pet healthcare costs
As recently as 20 years ago, if a pet was seriously ill, treatment options were limited. Today, many of the options available to humans — transplants, cancer treatments and so on — are also available for pets.Rather than choose between your pet's well-being and your wallet, you may be considering pet health insurance. If you think buying a policy might be right for you, do... READ MORE
Deficits will dwarf Social Security surplus
As millions of baby boomers flood Social Security with applications for benefits, the program's $2.7 trillion surplus is starting to look small.For nearly three decades Social Security produced big surpluses, collecting more in taxes from workers than it paid in benefits to retirees. The surpluses also helped mask the size of the budget deficit being generated by the rest of the federal ... READ MORE
Senior discounts start as young as age 50
One of the best aspects of turning 50 is the growing number of senior discounts that become more and more available as one gets older. Many are available simply with proof of age and do not require membership in any organization, such as AARP. However, many are not widely promoted, so older adults may not know about them. Louise Ross, publications coordinator for the Joslyn Center,... READ MORE
Four low-cost funds that beat the market
An index mutual fund is a sensible option for building a diversified stock portfolio while keeping investment costs under control. The approach is simple: The fund holds the same stocks as the segment of the market it tracks. Expenses are low because there's no professional manager picking the investments.But you also give up something with an index approach. You're guaranteeing... READ MORE
You can trade in old electronics for cash
How many dusty gizmos and gadgets do you have languishing at home? It’s easy to convert those old cellphones, computers, iPods, video games and movie DVDs into quick cash.A number of big-name shopping sites — including Amazon, Best Buy, eBay and Gazelle — will offer cash or store credit for your gear. The process is quick and painless, and you won’t have to pay... READ MORE