Taking money out early from your retirement plan may trigger an additional tax. You will receive Form 1099-R from your plan administrator. Here are six
Tag: taxes
Unemployment Benefits
If you lose your job or your employer lays you off, you may be able to get unemployment benefits. The payments may be a welcomed
Is Social Security Taxable?
Some people must pay taxes on part of their Social Security benefits. Others find that their benefits aren’t taxable. If you get Social Security, here
Medical and Dental Expense Deductions
If you plan to claim a deduction for your medical expenses, there are some new rules this year that may affect your tax return. Here
Tax Savings for Parents
Do you feel the pain of expenses throughtout the year raising a child; school, daycare, college, etc.? Others feel your pain. The IRS offers a number
Tip Income Reminders
Important reminders for those that receive tips on the job from customers: Tips are taxable. You must pay federal income tax on any tips you receive.
Taxable and Nontaxable Income
Are you confused about what income is taxable and what income is not taxable? Taxable income can include money you receive, such as wages and
Alternatives to Calling the IRS Next Week
IRS Warns of Heavy Call Volume, Offers Tips for Faster Answers WASHINGTON – The IRS reminded taxpayers the Presidents Day holiday period typically marks one
Don’t Miss These Deductions and Credits
Don’t overpay taxes by overlooking tax deductions, credits, and elections on your tax return. See the most common ones listed below that could cost you
Small Business and Self-Employed Tax Center
Do you feel overwhelmed sometimes by all the tax information needed to run your business? Well, you don’t have to be an expert. The IRS