Roger Wohlner

A SIMPLE IRA, or savings incentive match plan for employees, is a small-business retirement plan employers can offer their employees. A SIMPLE IRA can be a good alternative to a 401(k) or other types of retirement plans because there generally is less paperwork and fewer procedures to follow with a SIMPLE IRA. A SIMPLE IRA can be a solid option for many small businesses that otherwise might not be able to offer their employees a retirement plan because of the cost and administrative burden.

Day trading — the buying and selling of a security within a single trading day — can be a profitable activity for experienced and skilled investors. However, this type of frequent trading also can trigger many tax and accounting headaches that can be overwhelming to the average investor.

We will take a look at some of the key tax issues associated with day trading and whether the Internal Revenue Service (IRS) might classify you as a trader for tax purposes.

Traditionally operating leases were mere footnotes in the financial statement, with limited impact on the liabilities assessed by investors and potential creditors.
The ASC 842 rules from the Financial Standards Accounting Board change all of that: As of January 1st, 2019, the right to use the leased asset is recognized as an asset side item—meaning companies need to marshal their resources and technology to incorporate the new disclosures.
Is your company prepared to ensure compliance and to...

Heath savings accounts (HSA) are a versatile savings vehicle. As a medical savings account, they can help reduce your overall healthcare costs now. They can also double as an additional retirement savings vehicle.
What is an HSA?
The HSA is a medical savings account that can only be used in conjunction with a high-deductible health insurance plan but offers triple tax-free advantages. Contributions to the account are made on a tax-free basis, earnings on the account grow tax-free and withdraw...

IRAs can be left to spouses, children or other heirs upon your death. These accounts are often a significant part of your net worth, so it’s important to know the rules surrounding passing your IRA on to your heirs so that you can plan accordingly.
Beneficiary designation
IRA accounts, both Roth and traditional, pass by beneficiary designation. Always be sure this is correct and up to date—regardless of your intentions or what your will might say, the beneficiary designation determines who in...

The views expressed by the author are not necessarily those of Fifth Third Bank and are solely the opinions of the author. This article is for informational purposes only. It does not constitute the rendering of legal, accounting, or other professional services by Fifth Third Bank or any of their subsidiaries or affiliates, and are provided without any warranty whatsoever.

While the focus in investing is often on returns, it’s important for investors to understand the impact of expenses on their investing results.
An investor bulletin published by the Securities and Exchange Commission (SEC) shows the effect of higher expenses on investment returns. They looked at the impact of expenses on a hypothetical $100,000 investment held for 20 years. The SEC assumed a 4.00% annual rate of return, with annual expenses at 0.25%, 0.50% and 1.00%.
Here is the impact of the...

The headline of this article is a bit of a misnomer; index funds are actually a type of mutual fund. The real issue, when considering mutual funds, is whether you buy an index fund or a mutual fund that is actively managed.
Let’s start with the basics. We’ll discuss how mutual funds work, the different investment styles you’ll come across, and the differences between index funds and actively managed mutual funds.
What is a mutual fund?
Mutual funds pool the money of a number of investors toge...

The Federal Reserve exerts a high degree of influence over interest rates in the U.S. via the fed funds rate, which is the interest rate banks charge one another for overnight loans. The Fed’s Federal Open Market Committee (FOMC) is the body that sets this rate at its monthly meeting.
While the rate banks charge one another for a specific type of loan might seem pretty confined, a change in the fed funds rate can have a ripple effect on the economy. An increase in the fed funds rate increases...

For most business owners, their business is their single largest asset.
But when it comes time to put down the torch and exit the business, many don’t have an exit strategy. Whether this means selling to a third-party, passing the business on to family members or if an unexpected opportunity to sell or merge comes along, there are a few things you should check off before making your exit.
Ensure the Business Can Run Effectively Without You
It’s important to ensure sure the business can run wi...

Tax loss harvesting is defined by Investopedia as “the selling of securities at a loss to offset a capital gains tax liability.” This is a common technique investors use to eke some benefit from a loss on a security that is held in a taxable account.
As simplistic as it may sound, a loss on a security — such as an individual stock, bond, mutual fund or exchange-traded fund (ETF) — means that its market value is lower than what you paid for it. Losses on securities can be deducted for tax purp...

Most of us understand how stocks work and where to buy them. However, many investors consider bonds a bit of a mystery. Below, we take a look at what bonds are, how they work and how to buy bonds.
What is a bond?
Stocks represent ownership in a company. If you own shares of Apple, for example, you are an owner of the company and you participate in the ups or downs of the stock.
Bonds, however, represent a loan from the buyer to the issuer. Corporations, the United States Treasury, various fed...

After nine years of nearly uninterrupted growth in the stock markets, things are suddenly much more interesting. That’s right: Stock markets can, in fact, go down. And with a market correction proving that the bull market can’t last forever, the potential for sustained losses in the future suddenly seems very real.

There’s no way to know for sure what the stock market will do, and it’s easy to let market volatility quickly turn into volatility in your thinking. Should you sell? Pull out your money and wait until things calm down?

Being assigned a numerical rating in any area of your life can spur questions like, "How do I compare to others?" and, "What's the best score possible?" Credit scores are no different. The good news is there is data available that can tell you how you measure up and how to achieve a perfect credit score.
According to Fair Isaac Corp., the company behind the FICO scoring model, just under 3 million Americans have a perfect credit score of 850. That’s 1.4% of the 200 million U.S. consumers who ...

Charitable donations offer citizens a chance to support causes and organizations that work toward the common good. Charitable donations can also offer a tax break that makes the cost a bit more affordable. By structuring and timing your donations well, you can take advantage of tax breaks while still making a difference in the world.
Making contributions
The most common way to make a charitable contribution is by donating cash, usually by sending a check or via credit card.
Another approach i...