What does the mild recent market pullback say about its short and long-term prospects? Although 24% of the stocks in the S&P 500 have experienced at least a 10% – 20% correction, Liz Ann Sonders of Schwab believes the losses may reflect a healthy turn of events. With IRS audits down 16%, some tax payers may be tempted to be less careful about their returns. That would be a mistake, according to financial writer Michelle Singletary. She details five things that increase your chance of an audit. Now that Congress has repealed internet privacy rules, you may need to take steps to protect your sensitive data. Alina Selyukh offers advice on how to limit others from collecting your personal information. Many parents have taken advantage of 529 plans to save for their children’s college education. Unfortunately, funding these plans doesn’t guarantee you’ll have saved enough by the time the first bill comes due. Charles Schwab lists five mistakes to avoid to improve your chances of being financially prepared.
Working Off The Froth– The modest downward pressure on stocks recently appears to be working off some overly optimistic sentiment. Liz Ann Sonders and her team at Schwab view this as a healthy pause in an ongoing bull market. Read more…
Five Things That Increase Your Risk Of Being Audited By The IRS– The odds are in your favor that you won’t get audited by the IRS. However, the agency has tools at its disposal to catch errors and outright tax scofflaws. Here are things that could increase the chances that your return will be audited. Read more…
As Congress Repeals Internet Privacy Rules, Putting Your Options In Perspective– President Trump signed into law a decision by Congress to overturn new privacy rules for Internet service providers. These would have given consumers more control over how internet service providers (like ATT, Verizon and Cox) use the data they collect. Most notably, the rules would have required explicit consent from consumers if sensitive data — like financial or health information, or browsing history — were to be shared or sold. This article explains what users can do to restrict or entirely limit their data from being collected. Read more…
Saving For College: 5 Costly Mistakes To Avoid– Just because you’ve researched the right 529 college savings plans for your children—and funded them appropriately—doesn’t mean your job is done. You can help protect your savings by avoiding these five common 529 mistakes. Read more…
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John R. Day, Bill Ennis, Stephanie Davidson and Matt Heller