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EY Acquires HR Tech Consulting Firm Jubilant
Split Decision on IRAs: Pub 590-B Covers Distribution Rules
The new Pub. 590-B applies to 2014 tax returns filed in 2015. Two aspects that have often befuddled taxpayers in the past are the RMD rules for Roth IRAs and the options available when inheriting traditional IRAs.
Redefining Financial Success: Americans More Focused on Retirement, Children’s Education
More than twice as many U.S. adults cited having enough money for a comfortable retirement (28 percent) and providing their children a debt-free education (23 percent) as the best indicator of financial success than did owning a home.
Majority of Americans Worry About Outliving Retirement Savings
Americans are most nervous about outliving their money in retirement and feeling stressed about healthcare costs, according to a new survey from the American Institute of CPAs.
IRA Contributions Give Taxpayers a Valuable Tax Benefit – But Watch the Calendar
As you’re working through federal income tax returns of clients during the home stretch, you hold a veritable ace up your sleeve: the IRA contribution. For clients who qualify, a contribution made by the tax return due date – April 15, 2015 for ...
Is Only One RMD Enough for IRA and 401(k) Holders?
This is no April Fool’s joke: After a taxpayer reaches age 70½, he or she must begin taking required minimum distributions (RMDs) from traditional IRAs and qualified retirement plans, like a 401(k), by April 1 of the following year. And then the ...
Want to Cut Your Taxes? There’s Still Time to Contribute to an IRA for 2014
Taxpayers still have time to decrease their 2014 taxes by contributing to an IRA. In most cases, doing so can help them qualify for a deduction or even a tax credit.
10 Special Tax Benefits for Members of the U.S. Armed Forces
Special tax rules apply to military members on active duty and in the reserves, particularly those serving in combat zones. These can help lower federal taxes and make it easier to file tax returns.
Many Retirees Face April 1 Deadline for Distributions
The April 1 deadline applies to owners of traditional IRAs but not Roth IRAs. Normally, it also applies to participants in various workplace retirement plans, including 401(k), 403(b) and 457 plans.