A Thursday vote to pass the new Republican-authored “skinny” coronavirus package without a direct payment failed in the Senate, leaving the question of another coronavirus economic relief package or smaller legislation that could give Americans who qualify a second stimulus… Continue Reading
Are you thinking of claiming Social Security? If so, you should be aware that your decision to file at a specific time can affect the amount of your checks for the rest of your life. It can also be very difficult to undo… Continue Reading
Did you get the wrong amount in your stimulus check? Help may be available sooner than you think. Initially, the Internal Revenue Service (IRS) advised that individuals who received the wrong payment amount in their Economic Impact Payment (EIP, or… Continue Reading
July 15 is when you need to file a federal tax return. The traditional April 15 deadline moved after the IRS pushed it back due to the coronavirus Those states with a state income tax followed suit meaning both were due July 15. If you… Continue Reading
You may think of the IRS as merely the agency responsible for sending your coronavirus stimulus check. On the flipside, it also helps you check the status of your payment through a tracking portal designed just for that purpose. Called Get My Payment,… Continue Reading
With Social Security being a major part of many people’s retirement income, paying less in taxes on this valuable benefit is like getting a raise. Put another way; you should be concerned about how much taxes you will owe on… Continue Reading
It usually happens in your accountant’s office or when meeting with your financial planner. As you review your 2019 W-2, it becomes clear that you are missing out on a key tax benefit: maxing out your Health Spending Account or HSA.… Continue Reading
If you don’t want to wait for a paper check for your federal stimulus payment, you better get onto the IRS website — and quick. On Friday, the U.S. Internal Revenue Service announced a tight deadline of May 13 to… Continue Reading
Plummeting markets are making Roth IRAs more attractive, although not everyone can put money into these retirement accounts. Workers can save after-tax dollars in these individual retirement accounts, have them grow tax-free and then tap them free of taxes in… Continue Reading
Do you have losses, or are you expecting some? These days, that sounds like a silly question. How losses are treated under the tax law is an important and complex question. After all, in general, our tax system requires you… Continue Reading
