by Mark Thomson | Jan 15, 2019 | What I have to Say
Going through the back door can pay off for high-income retirement savers. We’re talking about the backdoor route into popular Roth individual retirement accounts, which offer tax-free income in later life. The front door into Roths is shut for many investors. Married...
by Mark Thomson | Jan 15, 2019 | What I have to Say
Most mistakes in tax returns occur during the last two weeks of tax season before the deadline. This is due to many people wanting returns and not enough time to both prepare the returns and allow for the taxpayers to review them prior to filing. We recommend that,...
by Mark Thomson | Jan 15, 2019 | What I have to Say
The tax deadline and filing your return might be behind you, but your tax responsibility isn’t really over until you begin to organize your documents for next year. Staying organized even after your taxes have been filed will make your life a lot easier in the future...
by Mark Thomson | Jan 15, 2019 | What I have to Say
The U.S. federal government could lose almost $3 billion in revenue during the current fiscal year because budget cuts are forcing the tax-collecting Internal Revenue Service to audit fewer people, the agency’s chief said on Wednesday. Testifying before a...
by Mark Thomson | Jan 15, 2019 | What I have to Say
For those paying their income tax through quarterly estimates the 2nd estimate is due June 15th. Usually during the rush of tax season you had to decide what to base your 2014 estimates on. You would have considered the safe harbors and chosen the one that best fits...
by Mark Thomson | Jan 15, 2019 | What I have to Say
In response to new SEC pricing rules for shares in certain money market funds (MMFs), the IRS on Wednesday issued guidance that allows a simplified method for calculating gain or loss on shares in MMFs subject to the new rules and exempts redemptions of shares in...
