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.
High-quality dividend stocks never go out of style for long-term investors, and there is no shortage of stocks with high yields and bright prospects for 2017, from telecommunications companies embracing the digital future to pharmaceutical companies riding the success of new drugs. The pharmaceutical sector is a great place to look for generous dividend payers and few stocks sport yields as high as AbbVie's. The patent expired in December on AbbVie's Humira, the top-selling anti-inflammatory drug on the market. AbbVie's shares returned 20%, including dividends, over the past 52 weeks, while the pharmaceutical sector overall was in the red.