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How to Spring Clean Your Personal Finances

Spring cleaning is about taking stock of your belongings, analyzing what to keep, what to donate or sell, and what to clean or fix up. But don’t forget to extend your cleaning to your personal budget, finances, and paper files. Read on for a few tips to get started....... Read More

What to Do If You Owe Taxes to the IRS

So you filed your tax returns and discovered that you owe tax money to Uncle Sam. Now what? Whether you can afford to pay the balance in full now or you need some time to pay, below are your different payment options. When You Need More Time If you...... Read More

Last Minute Tips for Tax Season Mania

Tax season is officially upon us, and the April 15 deadline is swiftly approaching. If you’re a tax procrastinator, it’s time to buck up and get down to business / get to work. Rest assured you won’t be alone. One in seven Americans wait to file taxes until the...... Read More

Insights on Homeownership After the TCJA

In recent years, people have flocked towards homeownership instead of continuing to rent. With home values and rents on the rise, homeownership has become more appealing! In the past, one of the many perks of homeownership has been the tax savings that homeowners typically receive. However, under the Tax...... Read More

Potential Pitfalls of Early Retirement

Mark Twain said, “Find a job you enjoy doing and you will never have to work a day in your life.” Some of us find that perfect dream job, and some of us don’t. Regardless, even your dream job can wear on you after years in the same industry....... Read More

Potential Pitfalls of Early Retirement

Mark Twain said, “Find a job you enjoy doing and you will never have to work a day in your life.” Some of us find that perfect dream job, and some of us don’t. Regardless, even your dream job can wear on you after years in the same industry....... Read More

This is How Retirement Contribution Limits Are Changing for 2019

The Treasury Department announced that retirement plan contribution limits are increasing in 2019 due to inflation. Get ready to save. The maximum pre-tax contribution limit for an Individual Retirement Account (IRA) is increasing for the first time since 2013: from $5,500 to $6,000. The extra $500 annual investment will...... Read More

How To Handle An Inherited IRA

When a loved one dies, one of the last things on your mind is their IRA you’ve inherited, but as the beneficiary you’ll eventually have to decide how to handle it. The IRS rules for distribution of inherited IRA funds are different depending on several circumstances. Here’s what you...... Read More

How the Tax Cuts and Jobs Act Affects Employee Reimbursement

As a result of changes made under the Tax Cuts and Jobs Act, employee reimbursements for business-related travel expenses are more appealing than ever. No longer are these expenses deductible from an employee’s individual tax return as a miscellaneous deduction, but work-related travel expenses are still able to be...... Read More

What You Can Do to Avoid the Dreaded Alternative Minimum Tax

In 1969 Secretary of the Treasury Joseph W. Barr testified before Congress that 155 taxpayers with incomes exceeding $200,000.00 hadn’t paid federal income taxes in 1966. With inflation, that $200,000.00 would equal roughly $1.5 million today. Those taxpayers were able to dodge taxes by exploiting existing tax breaks and...... Read More