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What is Adjusted Gross Income (AGI)?

Adjusted gross income (AGI) is a calculation to determine your taxable income after allowable deductions, such as unreimbursed business expenses, medical expenses, alimony and deductible retirement plan contributions. It not only determines your...

What is a 529 Savings Plan?

A 529 Savings Plan is a college savings plan where money can be invested to grow on a tax-deferred basis and withdrawn free from federal and potentially state taxes if used for "qualified" higher education expenses, including tuition, room &...

What is a 403(b)?

The 403(b) is similar to the 401(k), but it is typically offered to employees of educational institutions and non-profit organziations. 403(b)s most often take the form of annuity contracts or mutual fund custodial accounts and are also known as...

What is a 401(k)?

A 401(k) is a employer-sponsored, tax-advantaged retirement plan funded with payroll deductions and in some cases contributions by the employer. The employee is responsible for choosing how to invest money in the plan and therefore assume most of...

What is Estate Planning?

Estate planning is the preparation of a personalized plan to manage an individual's or family's assets before and/or after death that can include drafting wills and trusts and gifting and wealth transfer strategies to minimize estate taxes and...

Consulting and fees: what to charge?

  On Friday, we got a question from a reader: Dear DailyWorth, I'm bidding on a consulting project as usual can’t figure out how much money to ask for or how to ask for it. The client threw out a range and I didn’t ask him exactly how he came to...


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