WASHINGTON – IRS SPECIAL EDITION TAX TIP 2013-13 – The IRS is warning the public about a phone scam that targets people across the nation, including recent immigrants. Callers claiming to be from the IRS tell intended victims they owe taxes and must pay using a pre-paid debit card or wire transfer. The scammers threaten […]
Many of us are living close to our financial limit these days. We pay our bills on time, but there’s not a lot left over. But that’s a dangerous situation. If things go wrong, your financial situation can change very quickly from adequate to critical. Without a cash reserve, you could find yourself in serious […]
If you’re planning to adjust your investment portfolio by selling some losing stocks at year-end, take a minute to review the wash sale rules.
In a “2013 Summertime Tax Tip,” the IRS reminded taxpayers about the current rules on home sales. Here’s a quick review of those rules.
When you borrow from your 401(k), you become both a borrower and a lender. Whether that’s a good idea depends on your personal financial situation – and in the process of making the decision about lending money to yourself, you may have questions regarding the tax consequences.
After all the advice you’ve received about saving for retirement, taking money out of your traditional IRAs and other qualified retirement plans may feel strange. Yet once you reach age 70½, the required minimum distribution (RMD) rules say you have to do just that.
A well-diversified portfolio spreads out your investment risk. However, you can easily end up with more eggs in one basket than you intended. Here are some investment tips.
“WASHINGTON – IRS SUMMERTIME TAX TIP 2013-19” – Going to college can be a stressful time for students and parents. The IRS offers these tips about education tax benefits that can help offset some college costs and maybe relieve some of that stress.
You only have to examine your paycheck to realize that certain income is tax-free. For example, health insurance premiums paid by your employer are generally not includible in your income.
Losses can be hard to take – so if you think your S corporation will show a loss for 2013, now’s the time to plan to make sure you’ll get the full tax benefit.