Avoiding 60 Day Rollover Mistakes Are you considering moving your retirement funds from one qualified account to another? Maybe you just left a job and you’re looking to move your 401(k) funds over to your IRA. Or maybe you’re simply consolidating your retirement accounts as you prepare to transition into your golden years. Whatever the case may be, a […]

Navigating QCDs in 5 Easy Steps What is a qualified charitable distribution (QCD)? A QCD is a distribution from an IRA that goes directly to a qualifying charity and is not included in the taxable income of the IRA owner. A QCD cannot be made from an employer plan. A QCD can be up to $100,000 a year, per individual. […]

Using IRAs to Help Children in 5 Easy Steps Can children have IRAs? There is no minimum age for having an IRA. Due to the power of compound interest, saving tax-free in an IRA from childhood on can provide a huge head start on financial security. Saving $5,500 in an IRA annually from age 14 through 24 and earning 7% per year provides […]

How to avoid getting scammed come tax time

Tax scams come in two major varieties: ID theft, whereby criminals file fraudulent tax returns, and tax scams, where callers convince victims they owe taxes and collect payment information. Fraudulent tax returns usually cost taxpayer victims only time lost, whereas money paid to scammers posing as IRS agents is most often gone for good. The […]

3 Reasons to E-File Your Taxes

If you’re still one of the few taxpayers who files paper returns, consider these reasons to switch to filing electronically: Filing electronically helps you get your refund faster. By avoiding mail delays and common filing errors, you save time. Get your refund even faster by combining an electronic return with direct deposit of your refund. […]

How to Make the Tax Code Work for You

In 2014, 150 million taxpayers dutifully filed their federal income tax returns.¹ And all of them made decisions about deductions and credits—whether they knew it or not. When you take the time to learn more about how it works, you may be able to put the tax code to work for you. A good place […]