Although the overall individual audit rate is only about one in 119, the odds increase dramatically as your income goes up, as it might if you sell a valuable piece of property or get a big payout from a retirement plan. The IRS wants to be sure that owners of IRAs and participants in 401(k)s and other workplace retirement plans are properly taking and reporting required minimum distributions.
Kyle Taylor knows a thing or two about saving money, having gone from broke to becoming a self-made millionaire in a matter of years. The site is now a fully fledged company that offers financial tips to thousands of users. The 30-year-old CEO and self-made millionaire tells CNBC that one formula in particular has helped him save.
It's a brave new world for investors, Jim Cramer told his Mad Money viewers Friday. Or is it? Cramer said President Trump has been pretty transparent about his plans for the country, so now that the inauguration is over, it all comes down to execution. The main thrust of Trump's inauguration speech was "Buy American, hire American," which will be good news for the defense stocks, agriculture, energy and pipelines, Cramer said. But investors need to keep an eye on housing and materials stocks. Those stocks will slow if an overheated economy sends interest rates too high. The "buy local" theme also flies in the face of the secular trend toward e-commerce and growth at Amazon.com (AMZN) , so investors