Make the Most of Your Pretax Deductions

Don’t set it and forget it when it comes to pretax contributions. The money that comes out of your paycheck before taxes can work for you, but only if you manage it properly. Many employees mismanage or underutilize the pretax deduction programs that employers offer, says Joe Holberg, founder and CEO of Holberg Financial, so it’s important to learn as much as you can about your options. “The first major step is to know what is available to you. This is when you read the nitty-gritty paperwork, reach out to the HR person and figure out what portions of the pretax opportunities make sense for you.” Follow this checklist to get the most out of your pretax deductions. HSAs You can get a health savings account only if you have a high-deductible health plan — but once you open the account, it sticks with you even if you change jobs. …

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SEC Power to Recoup Illegal Profits Curbed by U.S. Supreme Court

SEC Power to Recoup Illegal Profits Curbed by U.S. Supreme Court

In early June, a unanimous Supreme Court handed down its ruling on whether “disgorgement,” or the repayment of ill-gotten gains, is subject to a statute of limitations. The court ruled that it is, and this has broad implications for any person or organization investigated by the Securities and Exchange Commission, experts say. “This will be more advantageous to all proposed SEC defendants, including Wall Street,” says Marc Powers, leader of BakerHostetler‘s securities litigation and regulatory enforcement practice and its hedge fund industry practice. “They will be able to sleep at night, not fearing the SEC and forever looking over their shoulders for their questionable conduct in the securities markets.” Here’s what you need to know about the ruling. The Case Charles Kokesh was found to have misappropriated funds from four investment companies. He was ordered to pay a civil penalty and disgorgement, dating back to 1995. Kokesh argued that the …

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How to Calculate Your Life Insurance Needs

How to Calculate Your Life Insurance Needs

Life insurance is a wonderful tool to ensure peace of mind and financial stability for your family. It is designed to pay out a certain sum of money to a surviving spouse or family members in the event of someone’s death. This sum can replace lost income and pay off major bills while the family grieves and adjusts to life without their loved one. And it doesn’t only have to go to children, spouses or other family members. You can choose anyone as your life insurance policy’s beneficiary and give anyone you care about financial support in the event of your death. Life insurance isn’t free, though, so it’s important to weigh the cost of premiums against the potential benefit and make sure you aren’t under- or overinsured. Too little coverage will leave family members strapped for cash and too much is a waste of premiums, especially considering you hopefully …

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