The Internal Revenue Code says that if you receive a distribution from an IRA, you can’t make a tax-free (60-day) rollover into another IRA if you’ve already completed a tax-free rollover within the previous one-year (12-month) period. The long-standing position of the IRS was that this rule applied separately to each IRA someone owns. Earlier…
Check your Social Security statement for accuracy. Your future benefits are based on earnings reported. Learn more in this Financial Tip.
Stocks stepped up on Friday. Energy brands such as Transocean and Nabors Industries stood out among advancers. Brands climbed in the wake of Federal Reserve comments. Fed Chair Janet Yellen said the central bank will most likely keep rates near zero at least through the first quarter.
Individuals may be able to deduct certain employment expenses as miscellaneous itemized deductions. Learn more in this Business Tip.
Indices closed in the green zone on Wednesday. Stocks gained on FOMC comments as well as other economic news. Comments from the latest FOMC meeting showed the Federal Reserve would remain “patient” in deciding when to lift rates and that a hike earlier than the next couple of months was unlikely.