And one of the greatest tax breaks as far as I'm concerned for individuals in retirement is the Qualified Charitable Deduction. The IRS is already basically mandating that…
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Tax questions
Retirement & Social Security
IRAs, 401(k)s, Roth conversions, required distributions, and how Social Security is taxed.
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159 answers
If you are an individual here and you're trying to get your tax numbers and you're filing under a form called a W 7, the IRS has come…
ListenScams. There are so many different scams out there right now. So let me just basically say use common sense. There's been a big notice that came out…
ListenAnd we talk a lot about 2021 getting prepared for our tax season. But remember, we're in 2022. This may be the time for you to also think…
ListenSomething that I find that a lot of people don't take advantage of, and is the Retirement Savers Credit. So in 2022, the brackets that come in this…
ListenFor all those that are taking Required Minimum Distributions. So this could be individuals that are 70 and a half or older. Depending on when you have it.…
ListenPay attention to the Required Minimum Distribution rules. We call them RMDs. Remember, the new law came out, and that said if you in the year you turn…
ListenAnd I am Dr. Friday. As you all know, I'm an enrolled agent licensed with the Internal Revenue Service. What does that really mean? It means I do…
ListenHave you maximized your 401k which is $19,500 or the catch-up if you're over the age of 50 additional 6000? Have you maximized your health savings account? For…
ListenOne way to reduce your taxes and make sure you're maximizing your 401k you have not yet hit on the last day of this year is to put…
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Employers that Deferred Their Social Security Have to Pay 50%
Retirement & Social Security
For all employers that deferred their Social Security tax from 2020, remember on December 31, 2021, you have to pay 50% of what you deferred. That is going…
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The Government Can Garnish a Criminal 401k to Pay Recipe Restitution
Bookkeeping & payroll
Did you know the government can garnish a criminal 401k to pay recipe restitution, which basically means if they consider what you've done criminal, for example, if you…
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