In the form of higher contribution limits for 2020, the Internal Revenue Service (IRS) gave retirement savers an early holiday gift this year. Workplace retirement plan contribution...
Posted by LLOYD J CAZES CPA on 12/28/2019
What is the 4% percent rule?The 4% rule is a general rule used to determine the amount a retiree should withdraw from a retirement account each year. This rule is intended to provide...
Posted by Elliot Kravitz, ATP on 11/25/2019
The legislators have been pursuing for a considerable length of time to allow seniors a touch of some breathing room at tax time, and the Bipartisan Budget Act of 2018, at last, made...
Posted by Advanced Accounting & Tax Planning on 10/23/2019
Even after your retirement, whether it's likely to happen soon or several years from now, you may end up paying the IRS a substantial amount of tax. And what's more, those...
An unexpected, unusual or sudden event that causes damage to your property would allow you to enjoy a casualty deduction -- in that tax year -- for the loss to your property. The...
A growing number of Americans are choosing to live together rather than getting married, and this trend is particularly strong among older couples. According to the US Census Bureau...
Posted by John Pournaras Agency on 09/26/2019
There are critical tax favorable circumstances for Independent Contractors (IC) versus workers. ICs deduct costs of doing business, though, the new tax law (TCJA) suspended "unreimbursed...
The ‘Setting Every Community Up for Retirement Enhancement Act’ (SECURE Act) passed recently in the House with a 417-3 vote and is relied upon to reach the Senate during...
Posted by John Pournaras Agency on 07/29/2019
An annuity is an insurance item that generates income and can be utilized as a feature of a retirement procedure. Annuities are a well-known decision for financial specialists who...
Posted by John Pournaras Agency on 07/29/2019