Article Highlights IRA-to-Charity Transfer Provision Required Minimum Distribution Expired in 2014 May Be Extended to 2015 What Should Be Done Now In Case It Is Extended If you are 70.5 or over, have not taken all or any of your 2015 required minimum distribution (RMD) from your IRA, and plan to but have not yet made a significant charitable contribution, here is a … [Read more...] about Plan for the Potential IRA-to-Charity Provision Extension
Planning Your RMD and IRA Distributions For 2015
Article Highlights: Under Age 59.5 Penalty Age 70.5 Mandatory Distribution Age Impact on Social Security Income Required Minimum Distributions Under-Distribution Penalty Penalty Waiver Other Pension Plans We spend most of our lives saving for retirement by putting funds away in tax-advantaged ways. But many of us forget about planning the withdrawals so that they … [Read more...] about Planning Your RMD and IRA Distributions For 2015
Now That Same-Sex Marriage Is Legal In All States, What Are The Tax Implications?
Article Highlights: All states are required to recognize and allow same-sex marriage Married tax filing requirements Potential tax benefits Negative tax aspects On June 26, the Supreme Court ruled that the Fourteenth Amendment to the Constitution requires all states to license marriages between two people of the same sex and to recognize same-sex marriages performed in … [Read more...] about Now That Same-Sex Marriage Is Legal In All States, What Are The Tax Implications?
Beware of Draconian Penalties for Health Reimbursement Plans
Article Highlights: Employer health insurance requirements Reimbursement plans and Obamacare Temporary penalty relief through June 30, 2015 Penalty Beginning in 2015, large employers (those with 100 or more full-time equivalent employees) must begin offering health insurance coverage to their employees. Then, in 2016, employers with 50 or more equivalent full-time … [Read more...] about Beware of Draconian Penalties for Health Reimbursement Plans
July 2015 Individual Due Dates
July 1 - Time for a Mid-Year Tax Check Up Time to review your 2015 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties. July 10 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during June, you are required to report them to your employer on IRS … [Read more...] about July 2015 Individual Due Dates