Wealthy people might do well to consider being very generous this month and giving very large gifts at today’s bargain tax prices, Williams writes.
Some Democrats had sought an income threshold well above $250,000. But since the election campaign and in 'fiscal cliff' talks, that's the number President Obama has settled on. Here's what's behind it.
Huge windfalls, like Wednesday's $580 million Powerball lottery drawing, get all the attention, but every day Americans get smaller surges of money – an annual bonus, for example, or a tax refund. You might be tempted to use it to pay off your credit card balances. Not so fast. There might be better ways to use it to improve your overall financial position. Here are five questions to ask yourself before you decide what to do with that windfall: