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Tax Deadline  // Posts tagged as "Tax Deadline"

17 Mar Posted by in Newsletters | Comments

April IRA Deadlines Fast Approaching

April IRA Deadlines Fast Approaching

As tax day approaches, there are two other April deadlines that may apply to you. If you have an IRA, take note of these dates: April 1 – If you turned 70½ in 2016 (six months after your 70th birthday), you must take your first required minimum distribution (RMD) from your IRA by April 1. […]

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22 Sep Posted by in Newsletters | Comments

College plan withdrawals are subject to tax rules

College plan withdrawals are subject to tax rules

What is the 529 plan? A 529 plan is a tax-advantaged investment plan designed to encourage saving for the future higher education expenses of a designated beneficiary (typically one’s child or grandchild). Will you be withdrawing money from a Section 529 college savings plan for education expenses this fall? If so, you may want to do a […]

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26 Aug Posted by in Newsletters | Comments

Be aware of taxes when you sell a gift

Be aware of taxes when you sell a gift

If you (or someone in your family) got married this summer here’s some advice that can help avoid headaches at tax time. Receiving a gift is not a taxable event to the one who receives the gift. If the gift is large enough, it could result in gift tax being paid by the donor. In […]

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13 Aug Posted by in Newsletters | Comments

Summer wedding? Don’t forget taxes

Summer wedding? Don’t forget taxes

If you (or someone in your family) got married this summer here’s some advice that can help avoid headaches at tax time. Name and address. If you take a new married name, contact the Social Security Administration to notify it of the change and to obtain a new social security card. If you have a […]

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10 Jun Posted by in Newsletters | Comments

Two important tax deadlines in June

Two important tax deadlines in June

Don’t overlook the following two deadlines this month if they apply to you: The second quarterly payment of estimated income tax for 2014 is due on June 16. * If you have foreign bank, savings, or investment accounts that exceeded $10,000 in 2013, you are required to file “Treasury Department Form 114” by June 30, […]

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27 May Posted by in Newsletters | Comments

Don’t waste your tax refund

Don’t waste your tax refund

Are you expecting a tax refund this year? No doubt you’ve already heard the standard admonishment about why you should not be giving the government an interest-free loan. Maybe you’ve decided to “do better” during 2014 by revising your withholding or estimated tax payments to reduce the amount of next year’s refund – or maybe […]

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06 May Posted by in Newsletters | Comments

Recent Tax Court case limits IRA rollovers

Recent Tax Court case limits IRA rollovers

A recent Tax Court decision will change the way the IRS applies the law on IRA rollovers. For years, the IRS has interpreted the IRA rollover rules to mean that a taxpayer could do one rollover per year for each IRA he or she owned. In doing a rollover, the taxpayer is not taxed on […]

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08 Apr Posted by in Newsletters | Comments

What to do if you receive an IRS notice

What to do if you receive an IRS notice

After you file your tax return, the last thing you want to see is a notice from the IRS questioning your return. Some IRS notices involve very minor corrections; some are for serious changes that could involve a lot of money. Sometimes the IRS is correct in what they are seeking; sometimes they are wrong. […]

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05 Mar Posted by in Newsletters | Comments

IRS reminds taxpayers about this refund option

IRS reminds taxpayers about this refund option

If you’re receiving a tax refund this year, the IRS reminds you that you can use it to buy U.S. savings bonds directly from the IRS. Here are the details. * You may purchase up to $5,000 in U.S. Series I savings bonds. * The total amount of bonds you purchase must be a multiple […]

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11 Feb Posted by in Newsletters | Comments

Take an extra step this year

Take an extra step this year

As part of gathering the information you’ll need to file your 2013 tax return, take a little extra time to review your current financial situation and the progress you’re making toward your financial goals. Tax filing time provides an excellent opportunity to do this review since you’ll have your records out for tax filing. Here […]

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