Planning Tools Click on the links below for selected tools designed to help you succeed:

Business Owner   Articles     Benefits and retirement plans       Benefit plans for small businesses       Group health insurance: a valued employee benefit       Group term life insurance       Health insurance for the self-employed       Retirement plans for small businesses       What employers need to know about workers' compensation insurance     Starting a business       Advantages and disadvantages of self-employment       Choosing an entity for your business       Funding a business       Hiring your first employee       Qualifying for the home office deduction       Record keeping for your own business       Starting or buying a business       Tax planning for the self-employed   Decision Tools     Choosing an entity       Choosing a business entity       Comparison of LLCs, LLPs, and professional corporations       How C Corporations, Limited Liability Companies, and Limited Liability Partnerships Protect Personal Assets     Insurance planning       Business life insurance needs       Number of policies needed with a cross purchase plan   FAQs     Home-based businesses       Can I deduct home office expenses?       If I work at home occasionally, am I entitled to a home office deduction?     Incorporating a business       Can I change my business from a C corporation to an S corporation?       Should I incorporate my business?     Raising capital       How can I raise capital for my business?     Starting a business       Don't most small businesses fail?       How do I find good advisors such as lawyers and accountants to help with my business?       Should I buy an existing business or start from scratch?       Should I buy or lease assets for my business?       What are the stages of business development?       What should I look for in a business location?     Valuing a business       How can I determine what my business is worth for estate and gift tax purposes?   Education Planning   Articles     529 plans       529 plans vs. other college savings options       529 plans: The ins and outs of contributions and withdrawals       Choosing a state savings plan       Estate planning and 529 plans       Income tax planning and 529 plans       The ABCs of 529 plans     Education planning basics       Education tax credits       Going back to school as an adult       Health insurance for college students       Saving for retirement and a child's education at the same time       Student loan basics   Decision Tools     Evaluating college savings options       Advantages and disadvantages of 529 plans       Advantages and disadvantages of Coverdell education savings accounts       Advantages and disadvantages of custodial accounts for college savings       Advantages and disadvantages of U.S. savings bonds for college savings       College funding options analyzer       College savings vehicles compared     Tax issues       Comparison of education tax credits and deductions       Qualified education expenses defined       Summary of tax-advantaged college savings options   FAQs     Education tax credits       Now that my child is in college, am I entitled to any education tax credits?       What are the Hope credit and the Lifetime Learning credit?   Estate Planning   Articles     Estate planning basics       Estate planning--an introduction       Facing the possibility of incapacity       Gift and estate taxes       Trust basics       Wills--the cornerstone of your estate plan     Probate       Bypassing probate       Understanding probate   Decision Tools     Charitable giving       The best property to give to charity     Estate planning basics       Federal estate tax estimator       Steps to estate planning success       Table of federal estate tax brackets and exemption limits     Probate       The probate process: 3 to 9 months after death       The probate process: 9 to 12 months after death       The probate process: initial tasks       Types of post-mortem elections   FAQs     Estate and gift tax       How can I determine what my business is worth for estate and gift tax purposes?       How can I minimize taxes on my estate?       How will estate taxes be paid if I leave no provision in my will?       I intend to make tuition payments directly to my grandchild's college, and I know this will reduce my estate. But would it be better to contribute to a 529 plan instead?       I just made a gift. Do I have to file a gift tax return?       If I am the account owner when I die, will the value of my 529 account be included in my estate?       What is the applicable exclusion amount?       Will the value of my 529 account be included in my estate or my beneficiary's estate?     Estate planning basics       Isn't estate planning only for the rich?       What makes up my taxable estate?     Planning for incapacity       What is an advanced directive for health care, and will it help me avoid court involvement during incapacity?       What is the difference between a power of attorney and a durable power of attorney?     Probate       Does property owned jointly avoid probate?       What is probate and why do I want to avoid it?     Wills       Can I disinherit relatives I don't like?       Can I transfer my business through my will?       Do I have to accept a bequest I don't want?       Do I need an attorney to prepare my will?       How will estate taxes be paid if I leave no provision in my will?       I want my son to have my valuable collection of baseball cards when I die. How do I make sure he gets it?       What is the difference between a living will and a living trust?       What will happen if I die without a will?       Who should I name as guardian of my children in case my spouse and I should die at the same time?       Who should I name as trustee?   Government Benefits   Articles     Social Security       Social Security disability benefits       Social Security retirement benefits       Social Security survivor's benefits       Understanding Social Security   Decision Tools     Social Security       How earnings affect Social Security   FAQs     Social Security       Are my Social Security benefits subject to income tax?       Does my 16-year-old have to pay Social Security tax on her earnings?       How can I get an estimate of my Social Security benefits?       How do I get disability benefits from Social Security?       I'm getting remarried. How will this affect my Social Security benefits?       My husband and I are divorcing after 30 years of marriage. Will I still be able to receive Social Security retirement benefits based on his earnings record after our divorce?       Should I retire now at age 62 and collect Social Security benefits, or should I wait until age 65?       What happens if I start collecting Social Security after age 65?       What is SSI?       When do I have to apply for a Social Security number for my newborn?       When I retire, how much will I receive from Social Security?       Will my children receive money from Social Security when I die?   Personal Finance   Articles     Financial basics       Establishing a budget       Getting started: establishing a financial safety net   Decision Tools     Owning a home       Is my home mortgage interest fully deductible?       Less common mortgage options     Saving, spending, and borrowing       Personal cash flow worksheet   FAQs     Mortgages       Should I pay off my student loans early with a home equity loan?       Should I take out a home equity loan to pay for my child's tuition?     Refinancing a mortgage       I refinanced my principal home last year and paid points. What are points, and can I deduct them on my tax return?     Selling a home       How do I figure the tax on the sale of my home?       I'm having a hard time selling my home. Should I take out a reverse mortgage?       I'm retired now and own my home outright, but I need money to live on. How can I use my home to raise some money without selling it?       Should I sell or rent out my present home?   Protection Planning   Decision Tools     Business insurance       Business life insurance needs       How cross purchase plans work       Number of policies needed with a cross purchase plan   FAQs     Life insurance       Will my beneficiaries have to pay taxes on the proceeds of my life insurance policy?   Retirement Planning   Articles     Saving for retirement       Annuities and retirement planning       Deciding what to do with your 401(k) plan when you change jobs       Evaluating an early retirement offer       Saving for retirement and a child's education at the same time       Taking advantage of employer-sponsored retirement plans     Social Security       Social Security retirement benefits       Understanding Social Security   Decision Tools     IRAs       Comparison of traditional IRAs and Roth IRAs       IRA eligibility flowchart: 2008       Traditional IRA required minimum distribution illustrator     Retirement planning basics       How taxation can affect your retirement funds       Saving for your retirement     Social Security       How earnings affect Social Security   FAQs     Evaluating an early retirement offer       Should I accept my employer's early retirement offer?     IRAs       Can I avoid the 10 percent penalty tax for early withdrawals from a traditional IRA?       Can I contribute to a Roth IRA?       Can I roll a retirement plan distribution into an IRA?       Can I set up a traditional IRA?       Can I shift my traditional funds to a Roth IRA?       Can I still have a traditional IRA if I contribute to my 401(k) plan at work?       Can I take money from my IRA without any penalty?       I need money--can I take funds from my IRA?       It's January, and I forgot to contribute to my IRA. Is it too late?       Should I invest in a Roth IRA or a traditional IRA?       Should I withdraw money from my IRA to pay for my child's college tuition?       What are my options if I inherit an IRA or employer-sponsored plan?       What are required minimum distributions and how are they calculated?       What are the rules for IRA contributions?       What's a premature IRA distribution, and what happens if I make one?     Saving for retirement       How can we possibly save for retirement and our child's college education at the same time?       What are catch-up contributions?     Social Security       Are my Social Security benefits subject to income tax?       How can I get an estimate of my Social Security benefits?       I'm getting remarried. How will this affect my Social Security benefits?       Should I retire now at age 62 and collect Social Security benefits, or should I wait until age 65?       What happens if I start collecting Social Security after age 65?       When I retire, how much will I receive from Social Security?       Will my children receive money from Social Security when I die?   Special Situations   Articles     Caring for an aging parent       Do your parents need long-term care insurance?       Medicaid and nursing home care       Medicaid and the principal residence       Medicaid planning basics       The sandwich generation: juggling family responsibilities.   Decision Tools     Financial basics       College funding options analyzer       College savings analyzer       Loan amortization calculator       Mortgage payment calculator       Net worth calculator       Personal cash flow worksheet       Saving for your retirement   FAQs     Caring for an aging parent       I paid my mother's real estate taxes last year. Can I deduct this on my tax return?     Divorce       Are alimony payments considered taxable income?       My husband and I are divorcing after 30 years of marriage. Will I still be able to receive Social Security retirement benefits based on his earnings record after our divorce?       What are the tax implications of child support payments?     Loss of a spouse       My spouse passed away this year. When I file my taxes, what filing status should I claim?     Raising a family       Can I take the tax credit for child care?       What is the difference between the child tax credit and the child and dependent care tax credit?     Remarriage       I'm getting remarried. How will this affect my Social Security benefits?     Terminal illness       Is there any way I can use life insurance to help cover my expenses if I become terminally ill?   Tax Planning   Articles     General tax planning       Am I having enough withheld?       Choosing an income tax filing status       Help! I can't pay my tax bill       Income tax planning and 529 plans       Surviving an audit       Tax benefits of home ownership       Tax planning for income       Tax planning for the self-employed       Taxation of investments       Year-end tax planning     Tax credits and deductions       Education tax credits       Personal deduction planning       Qualifying for the home office deduction       Understanding personal tax credits     Taxes and insurance       Income tax tips: business insurance       Tax planning for annuities       Tax planning tips: auto insurance       Tax planning tips: disability insurance       Tax planning tips: life insurance       Tax tips: health insurance       Tax tips: homeowners insurance       Tax tips: long-term care insurance   Decision Tools     General tax planning       Accelerating deductions/postponing Income       Accelerating income/postponing deductions       Federal individual income tax fundamentals       Remarriage with children: income tax considerations     Tax credits and deductions       Comparison of education tax credits and deductions       General business tax credits       Is my home mortgage interest fully deductible?       Tax credit sampler   FAQs     General tax planning       Am I having enough tax withheld from my paycheck?       Are my Social Security benefits subject to income tax?       Are scholarships and grants subject to federal income tax?       Do I have to file a federal income tax return?       Do I have to pay U.S. taxes when I work abroad?       How did the Jobs and Growth Tax Relief Reconciliation Act of 2003 change capital gains tax rates?       I don't have the cash to pay my taxes. What can I do?       I have investment property. What does basis mean, and how do I determine the basis of my property?       I received a state tax refund last year. Must I include that amount as income on my federal return this year?       My spouse passed away this year. When I file my taxes, what filing status should I claim?       What is my tax bracket?       What is the alternative minimum tax?       What is the basis of property received as a gift?       What is the kiddie tax?       What penalties and interest will I be charged for paying and filing my federal income taxes late?       What's the difference between an "injured spouse" and an "innocent spouse"?       Will I have to pay tax on my investment income?     Tax credits       Can I take the credit for the elderly or disabled?       Can I take the tax credit for child care?       Now that my child is in college, am I entitled to any education tax credits?       What are the Hope credit and the Lifetime Learning credit?       What is the child tax credit?       What is the difference between the child tax credit and the child and dependent care tax credit?       What is the earned income credit and who qualifies for it?     Tax deductions       Can I deduct home office expenses?       Can I deduct premiums paid for long-term care (LTC) insurance?       Can I deduct the cost of improvements or repairs I've made to my home?       How do I deduct and substantiate my gambling losses?       I paid my mother's real estate taxes last year. Can I deduct this on my tax return?       I refinanced my principal home last year and paid points. What are points, and can I deduct them on my tax return?       If I prepay next year's taxes this year, can I deduct them this year?       If I work at home occasionally, am I entitled to a home office deduction?       Is student loan interest deductible?       My spouse and I are filing separate returns. Can we both itemize our deductions? If so, how do we split the deductions?       My town has assessed against me a real estate betterment for new sewer lines installed in my street. May I deduct this amount on my tax return?       We just bought our first home. What can we deduct from the settlement statement?     Taxes and child support/alimony       Are alimony payments considered taxable income?       What are the tax implications of child support payments?     Taxes and home ownership       Can I deduct the cost of improvements or repairs I've made to my home?       How do I figure the tax on the sale of my home?       I refinanced my principal home last year and paid points. What are points, and can I deduct them on my tax return?       I rent my home out for two weeks each year. Do I have to show this rental income on my federal income tax return?       If I prepay next year's taxes this year, can I deduct them this year?       My town has assessed against me a real estate betterment for new sewer lines installed in my street. May I deduct this amount on my tax return?       We just bought our first home. What can we deduct from the settlement statement?     Taxes and insurance proceeds       Are life insurance proceeds income taxable?       I receive disability insurance payments. Are they taxable?