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...
There are subtle variations between what is considered an IRA transfer and what is considered an IRA rollover. Important to know – with either one for the rollover to be tax-free,...
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
A defined benefit plan is an employer-sponsored pension plan in which benefits are calculated using a formula that considers various factors, such as salary history and length of employment....
If you are a minister of the gospel, you are subject to complex tax and social regulations. We will examine: how your income is taxed; how to apply for the tax exemption on self-employed...
Posted by Dennis Jao on 12/31/2020
2021 is right around the corner, but there is still a short time to lower your 2020 tax bill, increase your savings, help your community, and secure your financial future in the process....
The idea behind a pension plan is to provide a monthly income for a particular age group. The responsibilities of funding the program lie solely with the employer. This article provides...
There is vital tax information for the U.S. Armed Forces reserve component that deals with tax breaks and deductions for expenses they incur while in active service. The following...
A lot of people struggle to find the funds they need to build their retirement savings. Fortunately, a non-refundable tax credit, known as a retirement savings credit, can make saving...