401 (k) Plan Catch-Up Contributions
How big is your retirement nest egg? Too often, people sacrifice retirement savings to afford a bigger home, cover emergency expenses or pay for their children's education. But time [...]
How big is your retirement nest egg? Too often, people sacrifice retirement savings to afford a bigger home, cover emergency expenses or pay for their children's education. But time [...]
If an individual taxpayer has substantial business losses, unfavorable federal income tax rules can potentially come into play. Here’s what you need to know as you assess your 2024 [...]
At what age can you generally start withdrawing from a traditional IRA without a tax penalty? A) 55 B) 59½ C) 62 D) 65 Question 2: Insurance What type [...]
The Tax Cuts and Jobs Act (TCJA) significantly increased the unified federal estate and gift tax exemption through the end of 2025. However, for 2026, it's currently scheduled to [...]
Gambling winnings are taxable It's fun to win money, but don't forget, it is also taxable. But a recent report by the Treasury Inspector General for Tax Administration (TIGTA) [...]
With the 2025 tax year almost here, there's news from the IRS about retirement savings. According to a recent announcement from the tax agency (Notice 2024-80), there will be [...]
If you’ve reached age 70½, you can make cash donations directly from your IRA to IRS-approved charities. These qualified charitable distributions (QCDs) may help you gain tax advantages. QCD [...]
As a business owner, you may travel to visit customers, attend conferences, check on vendors and for other purposes. Understanding which travel expenses are tax deductible can significantly affect [...]
As the end of the year approaches, many people start to think about their finances and tax strategies. One effective way to reduce potential estate taxes and show generosity [...]
Employee health coverage is a significant part of many companies’ benefits packages. However, the administrative responsibilities that accompany offering health insurance can be complex. One crucial aspect is understanding [...]
The Tax Cuts and Jobs Act (TCJA) dramatically increased the unified federal gift and estate tax exemption from $5.49 million in 2017 to $13.61 million in 2024. If you're married, [...]
Real estate can be an attractive long-term investment. But the legal entity you select to own property can have important tax implications. Here's why single-member limited liability companies (SMLLCs) are [...]
Most businesses have websites today. Despite their widespread use, the IRS hasn’t issued formal guidance on when website costs can be deducted. But there are established rules that generally apply [...]
Savings bonds are purchased by many Americans, often as a way to help fund college or show their patriotism. Series EE bonds, which replaced Series E bonds, were first [...]
Divorce entails difficult personal issues, and taxes are probably the farthest thing from your mind. However, several tax concerns may need to be addressed to ensure that taxes are [...]