Taxpayers age 70½ or older are allowed a qualified charitable distribution (QCD), which lets you to direct your IRA trustee to make a distribution, up to $100,000, directly from your IRA to a qualified charity. This QCD fulfills the required minimum distribution for the year.
You sold your tomatoes at the farmer’s market, but is your garden considered a business or a hobby? It’s complicated. Read this week’s Tax Tip for more.
If you plan to take charitable deductions on your taxes, note the IRS requires written substantiation of your donation. For more, read this week’s Tax Tip.
You have a about two months to make moves to improve your tax situation for 2011. Read this week’s Tax Tip for five year-end moves.
We discuss Herman Cain’s proposed 9-9-9 tax plan.
Large estates, opting out of the estate tax, have until Tuesday, January 17, 2012, to file Form 8939. Read this week’s Tax Tip for more information.
2010 Tax Act created new provisions for estate tax laws. Read how these may temporarily affect your estate plan in this week’s Tax Tip.
If you are an eligible small employer or a tax-exempt eligible small employer, you may qualify for the small employer health insurance premium credit.
Expecting a tax refund? Before you mentally spend it, learn about two tax changes for 2011 may lower your refund in this week’s Tax Tip.
Even though it has been a rocky year, some investors may have capital gains they need to offset if they sold during the April highs or if they sold a long-term holding for a profit.
