by admin | Mar 27, 2026 | Retirement
Often if you are in dire need for money the most tempting area to look at is your IRA, 401(k), or other qualified retirement accounts. These funds, set aside for your retirement, may seem to be the answer to your financial woes. Should I take an early withdrawal? Is...
by admin | Mar 20, 2026 | Deductions
Don’t forget these ideas to lower your taxes The tax code is about 75,000 pages long, so it’s not surprising there are many overlooked money-saving deductions hidden within it. Check out this list of commonly overlooked deductions. You might wind up with a...
by admin | Mar 13, 2026 | Your Income
What everyone should know Wouldn’t it be nice to have a source of nontaxable income? You may be more fortunate than you realize. Listed here are a number of income items that the IRS does not tax. 1. Tax-free interest. Municipal bond interest is tax-free at the...
by admin | Mar 6, 2026 | Planning
Getting this wrong can cost you One of the more common tax questions is whether you need to file a federal tax return this year. The answer is: it depends. But not filing a tax return when you should can cost you plenty, especially with the passage of a major piece of...
by admin | Feb 27, 2026 | Retirement
Want money when you retire? Here are some tips. Here are five common retirement planning tips and what you can do to take advantage of them. The key is retirement planning starts today, not decades from now when you are reaching retirement age. 1. Having a plan...
by admin | Feb 20, 2026 | Deductions
There are many tax benefits built into home ownership. Here’s a summary of the most common. It may be worth a quick review to ensure you are maximizing your home ownership tax benefits. Common deductions Interest deductibility. Mortgage interest is one of the...
by admin | Feb 13, 2026 | Your Income
Most income you receive is taxable income that is reported to the federal and state tax authorities. However, renting out your home or vacation property on a short-term basis can be done tax-free if you follow the rules. The rule: If you receive rental income for less...
by admin | Feb 6, 2026 | Miscellaneous
Late filing of S corporation and partnership returns can be costly The IRS is penalizing late filers of S corporation and partnership tax returns. This despite the fact that late filing of the tax returns (Forms 1120S and 1065), due March 15th, often does not impact...
by admin | Jan 30, 2026 | The Audit
What you need to know If you have problems getting to sleep at night and you turn to the IRS tax code for help, you might find some vocabulary that is very foreign to words you use every day. One of the more common words used by the IRS is the term contemporaneous. So...
by admin | Jan 23, 2026 | Retirement
A penalty to avoid with these tips It’s one thing to be taxed on retirement contributions and their related earnings when you withdraw funds from your IRA or 401(k) during retirement. It’s quite another when you pay the tax PLUS a 10% penalty for an early...
