April 14, 2015
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.
April 10, 2015
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.
April 8, 2015
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.
March 25, 2015
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 ...
March 25, 2015
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 ...
March 23, 2015
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.
March 23, 2015
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.
March 19, 2015
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.
March 18, 2015
Although pension advances may seem like a “quick fix” to your financial problems, they can eat into your retirement income when you start paying back the advance plus interest and fees.
March 18, 2015
To help taxpayers, the American Institute of CPAs (AICPA) has provided a list of the most commonly-asked questions about the health insurance information reporting required by the Affordable Care Act on 2014 federal income tax returns.
March 14, 2015
Reports are popping up around the country that unlicensed and crooked income tax preparers are telling taxpayers that they need to make the Affordable Health Care Act's individual shared responsibility payments directly to the tax preparer. Obamacare is..
March 13, 2015
It’s the height of tax season and the Affordable Care Act is on everyone’s mind as they try to figure out what that means for their taxes. For many Intuit customers and their clients, there’s help.