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☆ 3 last-minute moves to lower your 2022 tax bill or boost your refund
▼ + stars: | 2023-03-24 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Getty ImagesThe tax deadline is approaching, and there are still a few ways to reduce your 2022 bill or boost your refund, experts say. However, there are a few last-minute moves to consider before the federal tax-filing deadline, which is April 18 for most Americans. However, you need to consider more than the current year's tax break before making pre-tax IRA contributions, Lucas said. Contribute to a spousal IRAMarried couples filing taxes jointly may also consider a lesser-known option before the tax-filing deadline: spousal IRA deposits. Collectively, annual spousal IRA deposits can't exceed joint taxable income or two times the yearly IRA limit.

☆ How to pay 0% capital gains taxes with a six-figure income in 2023
▼ + stars: | 2023-02-15 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Here's why: The IRS made dozens of inflation adjustments for 2023, including the long-term capital gains brackets, applying to investments held for more than one year. This means you can have more taxable income before reaching the 15% or 20% brackets for investment earnings. Here's your capital gains tax bracketWith higher standard deductions and income thresholds for capital gains, it's more likely you'll fall into the 0% bracket in 2023, Lucas said. The rates use "taxable income," calculated by subtracting the greater of the standard or itemized deductions from your adjusted gross income. For example, if a married couple makes $100,000 together in 2023, their taxable income may easily fall below $89,250 taxable income after subtracting the $27,700 married filing jointly standard deduction.

☆ Roth IRA conversion taxes may be trickier than you expect. Here's what to know before filing — or converting funds in 2023
▼ + stars: | 2023-01-22 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

For example, let's say you have a pretax IRA of $20,000 and you made a non-deductible IRA contribution of $6,000 in 2022. Of course, the bigger your pretax IRA balance, the higher percentage of the conversion will be taxable, May said. Alternatively, a larger non-deductible or Roth IRA balance reduces the percentage. But here's the kicker: Taxpayers also use the Form 8606 to report non-deductible IRA contributions every year to establish "basis" or your after-tax balance. Typically, he aims to "fill up a lower tax bracket," without bumping someone into the next one with Roth conversion income.

☆ 5 tax and investment changes that could boost your finances in 2023 amid economic uncertainty
▼ + stars: | 2022-12-31 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +4 min

Bigger contribution limits on retirement accountsIf you're eager to boost your retirement savings, there's good news for 2023: higher contribution limits for your 401(k) and individual retirement account. The contribution limits have also increased for IRAs, allowing you to save up to $6,500 for 2023, up from $6,000 in 2022. Higher income limit for Roth IRA contributionsThe 2023 inflation adjustments also mean more investors may qualify for Roth IRA contributions, experts say. "But how about Roth [IRA] contributions?" While some investors may seek "complicated" moves, like so-called backdoor Roth conversions, which transfer after-tax 401(k) contributions to a Roth IRA, Pon urges investors to double-check Roth IRA contribution eligibility first.

☆ Despite stock market losses, investors may get year-end mutual fund payouts. That can trigger a surprise tax bill.
▼ + stars: | 2022-11-07 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

After a rough year for the stock market, investors may not expect to receive a surprise tax bill from year-end actively managed mutual fund payouts, experts say. When a fund manager sells underlying assets at a profit without losses to offset it, those gains are passed along to investors. And some fund managers sold profitable underlying assets as money has continued shifting from active to passively managed funds. As a result, some investors may see year-end mutual fund distributions, despite stock market losses in 2022, the report found. Lucas said mutual fund payouts often "slip under the radar" and need to be included as part of an investor's year-end tax planning.

☆ Here's why stock investors need to pay careful attention to earnings season 'report cards'
▼ + stars: | 2022-10-24 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Spencer Platt | Getty Images News | Getty ImagesIt's a big week for stock investors. Think of earnings as a company 'report card'Earnings is a synonym for "profits." Think of the disclosures like a company "report card," said John Butters, senior earnings analyst at FactSet. The metric measures S&P 500 company stock prices in the two days before and after an earnings report. What companies report now is sort of in the rearview mirror.

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