Article Highlights: Social Security Taxability Taxability Thresholds Working and Drawing Social Security Pension Distributions and Social Security Taxability Planning Pension Distributions Generally, your Social Security (SS) benefits are not taxable until your modified adjusted gross income (MAGI) is more than the base amount for your filing status. MAGI is your … [Read more...] about Receiving Social Security Can Be Taxing
Personal Tax
Preventing Tax Problems When Employees Travel
Article Highlights: Employer Deduction for Travel Expenses How an Employee Treats Travel Expenses Employer Accountable Plans Lodging When Attending Local Employer Events Tax Home Temporary Work Location Sending employees on business trips is essential for countless companies and can result in tax headaches for both the employer and the employee if the tax regulations … [Read more...] about Preventing Tax Problems When Employees Travel
Plan for the Potential IRA-to-Charity Provision Extension
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?