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4 Types of Deductible Interest Expense for Individuals
Taxpayers who take out certain kinds of loans may qualify for a deduction on their federal returns. We outline the four key types of deductible interest expense for individuals: mortgage, investment, student loan and auto loan. A sidebar examines the business interest expense deduction, which has been affected by recent tax law changes.
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5 Tax-Planning Tips for Retirees
Will your tax bill increase or shrink after your retirement? The answer differs depending on one's tax and financial situations. Indeed, many people find that the combination of Social Security, pensions and withdrawals from retirement savings accounts increase their income in retirement and may even push them into a higher tax bracket. This article explores five tax-planning tips.
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Avoid Borrowing from Your 401(k) Plan
It can be tempting to borrow from your 401(k) plan — the loans are easy to get and the terms are generally good. But there are important reasons to avoid the temptation and check into other options. In the long run, they'll serve you better. Keep reading to see why you should seek out other alternatives.
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6701 Camel RD Ste 114 Charlotte, NC 28226-0215
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