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The tax deadline is almost here: File for an extension if you’re not ready
The April 15 tax deadline is approaching, but what if you’re not ready to file? There are some simple steps you can take to avoid steep penalties.
Get ready for the 2023 gift tax return deadline
April 15 isn’t only the income tax return deadline, it’s also the gift tax return deadline for people who made large gifts last year. Find out if you’re required to file a 2023 gift tax return. (Note: You may want to file one anyway).
Update on retirement account required minimum distributions
The SECURE 2.0 law includes good news about required minimum distributions from tax-favored retirement accounts. But an earlier law contained some bad news for certain beneficiaries of inherited retirement accounts. Here are the rules.
How renting out a vacation property will affect your taxes
Many people who own vacation homes rent them out to earn extra income. Even better, renting them out may provide tax breaks. Here are the rules.
New option for unused funds in a 529 college savings plan
It’s not unusual for parents to end up with unused funds in their children’s 529 college savings plans. There’s a new option that allows them to transfer unused funds in a 529 plan to a Roth IRA. Here are the details.
If you didn’t contribute to an IRA last year, there’s still time
Saving now for retirement is one of the smartest moves you can make to help ensure financial security. If you’re eligible, you still have time to contribute to an IRA or SEP and save on your 2023 tax return.
Small businesses can help employees save for retirement, too
Nowadays, even small businesses are often expected to help employees save for retirement. The good news is there are some relatively easy ways to do so.
IRAs: Build a tax-favored retirement nest egg
How much can you save in an individual retirement account this year and when do you have to start making withdrawals? Here are the answers to these and other IRA questions.
Should your business offer emergency savings accounts?
There’s a new fringe benefit your business may want to offer your employees: pension-linked emergency savings accounts. Here’s how they work.
If you have charitable contributions, make sure you have substantiation
Did you make a charitable gift last year and are hoping for a tax break when you file your return? Here are the donation rules to secure a deduction.
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