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Along with other decisions, dating the amount of money they need to withdraw would help them in retirement planning and spending.January 14
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Failing to pay taxes on side-gig earnings and keeping faulty records of business-related expenses must avoided to prevent an excessive tax burden.January 14
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This rise of the so-called grey divorce has created a number of uncommon and complex issues for retirement accounts.January 14
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The agency recently estimated a gap of $381 billion in unpaid tax from 2011-‘13, which equates to roughly 14.2% never being submitted.January 9
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The Secure Act was designed to expand retirement savers’ options but it has subsequently all-but-eliminated the stretch IRA for beneficiaries. It's on advisors to make clients aware of the major change.January 7
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Knowledgeably navigating 401(k) and IRA movements can have a massive impact on tax burdens — and the client relationship.January 3
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"Keep records and watch the statute of limitations. The usual IRS statute of limitations is three years after you file your tax return," an expert writes.December 31
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Adjusting a federal income tax return depends on personal tax circumstances, “such as the materiality of the error,” an expert says.December 17
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Clients who have yet to make withholding adjustments to cover their tax liability still have time to avoid the extra burden.December 10
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Clients who own a business may be eligible for a 20% deduction as a result of tax overhaul. For those who don’t qualify, there are other savvy strategiesDecember 9
