6 Common Tax Mistakes That Can Land You in Trouble with the IRS
Some common tax mistakes are more than just a “small problem.” They could actually land you in trouble with the IRS if you’re not careful.
You May Be Able to Minimize the Tax on Your Social Security Benefits and the Cost of Your Medicare Benefits
The taxability of your Social Security benefits depends on several issues including filing status and income. Additionally, the amount that is withheld from your Social Security benefits to pay for your Medicare premiums is similarly determined.
Investing for Major Financial Goals
Investing without knowing what you’re trying to achieve is like trying to drive cross-country without a map or GPS. Your goals may change over time, but it’s easier to adjust your plan to those changes than it is to succeed when you don’t know what you’re working to accomplish.
Congress Tells Treasury to Expect SECURE 2.0 Technical Fixes
With nearly 100 provisions covering all types of retirement savings plans, the SECURE 2.0 Act actually had a few glitches. Congress has announced they will introduce legislation to correct “problematic language.”
Tax Tips for Students with a Summer Job
Many students hold a summer job during their time off from school. Here are some tax issues that should be considered when working a summer job.
As Your Parents Age, Help Them Protect Their Finances
The elderly and financially vulnerable are often targets for financial exploitation. Look for warning signs that your parents have been victimized, or are at risk of being financially influenced, manipulated, or coerced.
Business Growth: How to Plan for (and Make the Most of) This Critical Stage
In between the start-up phase and a mature business is the growth phase that provides an exceptional opportunity to grow from the business you’re running into the one you hoped you’d be in charge of when you started.
SECURE 2.0 Act Expands Early Withdrawal Exceptions
While 401(k) plans and IRAs are intended to promote long-term retirement savings, sometimes the situation is dire enough to consider an early withdrawal. We look at new penalty-free exceptions created by the SECURE Act 2.0.
Tax Consequences of Crowdfunding
Between sites like GoFundMe, Kickstarter, and Indiegogo. each has its own charges, limitations, and withdrawal processes. Furthermore, both the IRS and the SEC are closely watching the taxability of the money raised.
Cheaper Hearing Aids Are Coming to a Store Near You
It’s now possible to buy an effective hearing aid without a medical exam or a prescription–music to more than 37 million U.S. adults are living with some hearing loss!