Article Highlights: Early WithdrawalsExcess ContributionsMultiple RolloversNo Traditional IRA Contributions in the Year Reaching age 70½Failing to Take a Required Minimum Distribution (RMD)Late ContributionsSwitch the Type of IRABackdoor Roth IRAAlimony as CompensationSpousal IRASaver’s CreditIRA-to-Charity Direct Transfers There are both opportunities and pitfalls for … [Read more...] about Tax Tips for IRA Owners
Personal Tax
Defer Gains with Qualified Opportunity Funds
Article Highlights: Tax Cuts and Jobs ActReinvested GainsEnhanced BasisQualified Opportunity FundsPartnershipsQualified Opportunity Zones If you have a large capital gain from the sale of a stock, asset, or business and would like to defer that gain with the possibility of excluding some of it from taxation, you may want to check out the new investment vehicle created … [Read more...] about Defer Gains with Qualified Opportunity Funds
Checking the Status of Your Federal Tax Refund Is Easy
Article Highlights: Your federal tax refund status can be checked online.E-file refunds are generally issued within 21 days of filing.Direct deposit provides the quickest refunds. If your 2018 federal return has already been filed and you are due a refund, you can check the status of your refund online. “Where’s My Refund?” is an … [Read more...] about Checking the Status of Your Federal Tax Refund Is Easy
The Major Reasons a Virtual CFO Can Help Your Business Thrive
On a basic level, a virtual CFO (or vCFO for short) is exactly what it sounds like. This is someone who performs all of the services normally associated with a chief financial officer, only in a third-party capacity. Instead of going to the trouble (and expense) of hiring, training and bringing someone with these qualifications into your organization, you're getting access to … [Read more...] about The Major Reasons a Virtual CFO Can Help Your Business Thrive
Start Off on the Right Foot for the 2019 Tax Year
Article Highlights: W-4 UpdatesW-9 CollectionEstimated Tax PaymentsCharitable ContributionsRequired Minimum DistributionsGiftingRetirement-Plan ContributionsBeneficiariesReasonable CompensationBusiness-Vehicle MileageCollege-Tuition Plans Individuals and small businesses should consider various ways of starting off on the right foot for the 2019 tax year. W-4 Updates … [Read more...] about Start Off on the Right Foot for the 2019 Tax Year