If you buy an annuity in pre-tax dollars, the annuity payments will be fully taxed as income. If you purchase an annuity with after-tax funds, you only have to pay income tax. Annuities...
Military members enjoy many tax benefits, including one-time tax deductions, combat pay exclusions, and extended time limits. Read on to find information on various military-specific...
Posted by Tucker Accounting Services LLC on 01/06/2021
Owing Uncle Sam a sum of money could be overwhelming. There could be a time when you do not have enough to take care of your tax debts. In this case, you can have a tax payment plan...
Everyone that needs to pay for school fees using Coverdell ESA or 529 will likely get Form 1099-Q from the IRS. This reveals the entire withdrawal made in the year to cover your school...
Also known as REIT, a real estate investment trust is known as a mutual fund for real estate. From the name, one can infer that the trust invests in investments related to real estate....
529 state-run plans have always had tax benefits, but recent federal tax law changes have made them even more attractive to many families. Here's what you need to know to get the...
One of the most popular forms of investment is dividend investing. Dividends provide a smooth income stream to investors. You have two options when the dividend accumulates on a stock....
The Internal Revenue Service recently published new, higher contribution limits for health savings accounts for 2021. An individual is allowed to contribute $ 3,600, while it is $...
Posted by Carmen Garcia on 10/15/2020
Thanks to the Internal Revenue Service's (IRS) cost-of-living adjustment, you can save more money on retirement plans and health savings accounts (HSAs) by 2020. This year, good...