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It sometimes seems like when it comes to college-savings vehicles, 529s are the only game in town.

But investors are doing themselves a disservice if they don’t also look at another savings tool available: Coverdell Education Savings Accounts (ESAs). Like 529s, ESAs are a tax-favored way to save for education expenses. 

2020 will be a year to remember for decades to come. In the world of tax and retirement planning, it’s brought opportunities for advisors to present to clients. But unlike those in other years, 2020’s opportunities should be seized now—taken advantage of before year’s end—because they may not be as effective afterward.

Can you really make millions and pay little or nothing in taxes, and do it legally? Absolutely! Big corporations do it all the time. But so can certain individuals who have the right set of financial facts, specifically the right sources of income and losses.

Tonight, Democratic presidential candidate Joe Biden will take on President Trump in a debate about the economy, coronavirus response, the integrity of the upcoming election and more. But for many, another question is top of mind: what will the results of the 2020 presidential election mean for my taxes?

In this episode, we check in with IRA and tax specialist Ed Slott of Ed Slott & Co., on what the recent debt and deficit numbers reported by the Congressional Budget Office mean for retirement plan participants.

The Aug. 31 deadline for reversing mandatory withdrawals from retirement accounts has passed, but a lucky few may still be able to return the money and save on taxes this year.

Earlier this year, President Donald Trump signed the CARES Act into law.

Remote work has become more commonplace as a result of the coronavirus pandemic, but experts caution against expecting any major changes to U.S. tax laws that would account for these trends.

According to a June survey from PwC, 55% of employers said they expect most of their employees to work from home even after the pandemic is no longer a threat.

In most years, only a few key dates stand out for income-tax planning, and most of them are familiar to taxpayers. But deadlines and strategies have changed a bit for 2020.

The coronavirus pandemic and economic-shutting efforts to slow the virus altered the norm. The most notable example involved the Internal Revenue Service and various state tax agencies, including the Arizona Department of Revenue, switching the usual April 15 filing deadline for 2019 returns to July 15.

Ryan Ermey: Living in retirement comes with twists and turns, no matter when you retire. But life has been particularly chaotic for retirees of late. Former Kiplinger's editor and current retiree Janet Bodnar joins the show, to tell us how retirees can navigate turbulent times, in our main segment. On today's show, Sandy and I remind you to reverse your required minimum distributions (RMDs) before the imminent deadline.