“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. The scams may come in through email, text messages, telephone calls...... Read More
The IRS recently released its audit statistics for the 2022 fiscal year; fewer taxpayers had their returns examined compared to prior years. But even though a small percentage of returns...... Read More
When one spouse in a married couple is not earning compensation, the couple may not be able to save as much as they need for a comfortable retirement. An IRA...... Read More
If you’re 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the coverage you want. The premiums can be costly, especially for...... Read More
High-income taxpayers face a regular income tax rate of 35% or 37%. And they may also have to pay a 3.8% net investment income tax (NIIT) that’s imposed in addition...... Read More
If you have significant assets (more than $12.92 million or $25.84 million if you’re married in 2023), you should consider establishing a living trust to avoid probate. Probate is a court-supervised...... Read More
The IRS has issued new guidance providing transitional relief related to recent legislative changes to the age at which taxpayers must begin taking required minimum distributions (RMDs) from retirement accounts....... Read More
Many workers have become engaged in the “gig” economy in recent years. You may think of gig workers as those who deliver take-out restaurant meals, walk dogs and drive for...... Read More
Do you intend to retire soon? If so, you'll immediately notice changes in your way of life and your income sources, which could significantly impact your taxes.Here’s a brief rundown...... Read More
If you’re a crypto investor or user, you may have noticed something new on your tax return this year. And you may soon notice a new form reporting requirements for...... Read More
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