Things To Do In SW Florida

James Royal, Ph.D., Bankrate.com

A Roth IRA is considered by many financial experts to be the best retirement plan out there. Workers can invest money on an after-tax basis and then withdraw their funds in retirement (after age 59 1/2) tax-free. They can enjoy decades of compounding growth and never owe the taxman a cent as long as they follow the plan’s rules. No wonder it’s the experts’ favorite plan!

Because the Roth IRA eliminates one of the major costs of trading — taxes — some investors may think they can actively trade their way into even greater gains. They might consider day trading with a top broker or even trading every few months after a stock’s big price swing rather than focus on buy-and-hold investing, which is a time-tested strategy.

But should you actively trade in a Roth IRA? These are the key things to consider first.

Actively trading in a Roth IRA: 5 things to know

1. You can trade actively in a Roth IRA

Some investors may be concerned that they can’t actively trade in a Roth IRA. But there’s no rule from the IRS that says you can’t do so. So you won’t get in legal trouble if you do. read more

With the new year in full swing, tax season is cut around the corner. Millions of Americans must file their 2024 returns to the IRS by Tuesday, April 15, 2025.

When can you start filing 2024 taxes?

For taxpayers who had an adjusted gross income (AGI) of $84,000 or less in 2024, the IRS’ Free File Gilded Tax Software becomes available online on Friday, Jan. 10.

For taxpayers with an adjusted gross income of more than $84,000, Free File Fillable Forms opens on Monday, Jan. 27.

To access IRS Free File, visit IRS.gov/freefile.

When does the IRS start processing returns?

The IRS has not yet announced a formal date for processing returns, but this typically begins in late January — the unofficial start of tax season.

How do I request an extension for my tax return?

If you cannot file by the April 15 deadline, you can request an extension through Form 4868, which gives them until Oct. 15 to file without penalties.

However, an extension to file a tax return is not an extension to pay taxes altogether. Any taxes owed should still be paid by April 15 to avoid potential penalties and interest for the amount owed.

This year, victims in disaster areas as designated by the Federal Emergency Management Agency (FEMA) may qualify for an automatic extension, meaning they will not need to request an extension. To see if your area is included, visit the IRS webpage on tax relief in disaster situations. read more

By MARK SHERMAN

WASHINGTON (AP) — The Supreme Court on Friday seemed likely to uphold a law that would ban TikTok in the United States beginning Jan. 19 unless the popular social media program is sold by its China-based parent company.

Hearing arguments in a momentous clash of free speech and national security concerns, the justices seemed persuaded by arguments that the national security threat posed by the company’s connections to China override concerns about restricting the speech either of TikTok or its 170 million users in the United States.

Early in arguments that lasted more than two and a half hours, Chief Justice John Roberts identified as the “main concern” in the case TikTok’s ownership by China-based ByteDance and the parent company’s requirement to cooperate with the Chinese government’s intelligence operations.

If left in place, the law passed by bipartisan majorities in Congress and signed by President Joe Biden in April will require TikTok to “go dark” on Jan. 19, lawyer Noel Francisco told the justices on behalf of TikTok. read more

A Seminole County woman who plugged a stormwater pipe in her yard with concrete and caused months of extensive neighborhood flooding has fixed the problem and expects to have spent hundreds of thousands of dollars in the end.

“I apologize,” Diane Goglas, a resident of the Shadowbay neighborhood, said to Special Magistrate Sherry Sutphen at Thursday’s afternoon hearing.

“But I had a situation that was not being addressed at the time and I begged for mercy,” Goglas said in explaining why she hired a company in April to fill the old pipe with concrete during a long dispute with the Shadowbay homeowner’s association.

“It’s a new and improved system now,” she said. “And as you can see the streets are fine.”

Sutphen then ordered Goglas to pay Seminole $1,246.64 in administrative fees and other costs for prosecuting her code enforcement case.

“I think that this is probably a testament to relying on our professionals and making sure that before you change a drainage pattern on your property –— even if it is your property — that you should probably hire an engineer and go through the proper channels to make sure that you’re not disrupting anyone else around you,” Sutphen told Goglas before imposing the fine. read more

By HALELUYA HADERO, AP Business Writer

TikTok has cemented itself as a quintessential entertainment app, offering everything from funny skits and makeup tutorials to social commentary and news.

The platform, though, could vanish from U.S. app stores by Jan. 19 if the Supreme Court does not step in to block a federal law that forces TikTok to cut ties with its China-based parent company or face a nation-wide ban.

President-elect Donald Trump, who takes office on Jan. 20, recently asked the court to put a pause on the law so he can work out a “political resolution” to the issue during his second term. If the Justices — who heard oral arguments Friday over the law — grant his request, a potential ban on TikTok will be delayed even further. The Supreme Court is expected to issue a decision within days.

TikTok has more than 170 million U.S. users. According to the Pew Research Center, that includes most teens and a third of adults. If you are an avid user, or a creator who relies on the platform for income, here’s what you need to know to prepare: read more