While there are many ways you can save for college, these various strategies are not equal. You get some particular tax advantages with the best savings channel, provided you use the...
Posted by Taxes Made EZ Inc on 06/11/2021
Many people would love to withdraw early from their 401(k) since they feel it is their money. However, some rules make this a bad idea. 401(k) exist in two types – Roth...
Posted by Pat Raskob on 06/11/2021
Traditional and Roth IRAs may be the king and queen of the retirement prom, but there are other great options that savers shouldn't ignore.Although there are lesser-known SEP,...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 06/06/2021
You might think that the only time there would be taxes on an IRA or other type of retirement account would be when you make withdrawals or distributions. However, some income received...
Posted by Taxes Made EZ Inc on 06/06/2021
There are many ways you can either reduce or cancel your debt. No matter the source – excessive credit card bills or student loans, it is possible to cancel your debt. In many...
After Hurricane Katrina, it became quite common for Congress to enact tax legislation that provides tax relief for victims of natural disasters. The Internal Revenue Code's (IRC)...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/19/2021
You must be a U.S. citizen, lawful permanent resident (green card holder), or pass the "substantial presence" test to be recognized as a U.S. resident for tax purposes. Some...
Your 1040sIf your income is over a specific amount, paying the federal income tax is mandatory. You might have to pay income tax in some states as well. The income tax rate is a matter...
A 401(k) plan can be an attractive way to invest because it gives employees the ability to increase their contributions before tax and tax-deferred income until retirement. According...