Tax time can be, well, quite taxing. Deciding which forms you need to complete can be a nightmare for many taxpayers. Just when you think you have it all figured out, the IRS releases new tax forms to match the recently changed tax laws and changes e…
Read More
Do you own a small business and are considering starting a retirement plan for your employees and yourself? Are you not sure about which one is right for your business? Both SEP IRAs and solo 401(k)s are retirement accounts that allow you as the busi…
Read More
The primary difference between a SIMPLE IRA and a SEP-IRA are who is allowed to fund the retirement accounts and the contribution limits. Both a SIMPLE IRA and a SEP-IRA are tax-deferred individual retirement accounts offered primarily by small busin…
Read More
Tax time is a great time to review your retirement savings to make sure you are maximizing your IRA retirement plan contributions. The IRS gives you until April 15 (Tax Day!) to make contributions for the preceding year (current tax year). That’s r…
Read More
A qualified charitable distributions are donations to an eligible charity taken directly from your traditional IRA. Depending on the amount you give to qualified charitable organizations annually, the tax savings of having the payments made directly…
Read More
An IRA is an individual retirement account, a vehicle people can use to save for retirement. Both Traditional and Roth IRAs have amazing tax benefits. Both types of IRAs help you with tax planning for retirement by giving you a vehicle to save money.…
Read More
It’s tax time! You know what that means: time to pull together all those important documents you need to take to your accountant to complete your tax return. Having all the documents organized will help ensure your tax return is completed correctly…
Read More
If you qualify for a Health Savings Account (HSA), it provides a great method with some careful planning to both pay health insurance companies less and save for retirement, while reducing your tax liability. Setting aside money in an HSA allows you…
Read More
See the biggest factors that affect when you receive your tax refund in 2020 for the 2019 tax year.
Read More
It is that time of year again: Time to make sure you have met the required minimum distribution (RMD) from your retirement account by December 31. If you turned 70½ this year, you have until April 1 of next year to take your first RMD from your tax…
Read More
