If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required minimum distribution (RMD) rules after reaching a certain age. [...]
If you’re age 50 or older, you can probably make extra “catch-up” contributions to your tax-favored retirement account(s). Is it worth the trouble? Yes! Here are the rules of [...]
Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of [...]
April 18 is the deadline for filing your 2022 tax return. But a couple of other tax deadlines are coming up in April and they’re important for certain taxpayers: [...]
If you’re getting ready to file your 2022 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower it. If you’re [...]
Most retirement plan distributions are subject to income tax and may be subject to an additional penalty if you take an early withdrawal. What’s considered early? In general, it’s [...]
A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every [...]
The downturn in the stock market may have caused the value of your retirement account to decrease. But if you have a traditional IRA, this decline may provide a valuable [...]
The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid [...]
If your company has a qualified retirement plan or you have set one up in self-employment -- such as a 401(k), profit-sharing, or Keogh plan -- the participants might be allowed to borrow from their [...]
Information from IRS.gov The IRS encourages taxpayers to get informed about topics related to filing their federal tax returns in 2022. These topics include special steps related to charitable contributions, [...]
The IRS announced it is opening the 2021 individual income tax return filing season on January 24. (Business returns are already being accepted.) Even if you typically don’t file until [...]
Information from IRS.gov Next year taxpayers can put an extra $1,000 into their 401(k) plans. The IRS recently announced that the 2022 contribution limit for 401(k) plans will increase to [...]
Are you considering a move to another state when you retire? Perhaps you want to relocate to an area where your loved ones live or where the weather is more [...]
If you own a small business, you may have set up a defined benefit pension plan for you and your employees that will provide a specific amount of retirement income based [...]