Individual Retirement Accounts are an important way to save for retirement. If you have an IRA or may open one soon, there are some key year-end rules that you should know. Here are the top four reminders on IRAs from the IRS:1. Know the limits. You can contribute up to a maximum of $5,500 ($6,500 if you are … Read more
Every taxpayer has a set of fundamental rights. You should be aware of these rights when you interact with the Internal Revenue Service.The “Taxpayer Bill of Rights” takes the many existing rights in the tax code and groups them into 10 broad categories. That makes them easier to find and to understand. You can find … Read more
There is a new publication that will help you learn about how the Affordable Care Act affects your taxes. IRS Publication 5187, Health Care Law: What’s New for Individuals and Families is now available on IRS.gov/aca. While the health care law has several parts, this publication breaks down what’s new for the 2014 federal tax return … Read more
What does it take for a small business to achieve success?Whether you’re already in business, or preparing to start a business, it takes hard work, tenacity and drive to achieve a high level of success. Lori Greiner, star shark of ABC’s Shark Tank says, “Entrepreneurs are willing to work 80 hours a week to avoid working 40 … Read more
WASHINGTON – The Internal Revenue Service and the Free File Alliance today announced the launch of Free File, which makes brand-name tax software products and electronic filing available to most taxpayers for free.Free File software can help taxpayers with tax preparation, including the health care law that will affect almost everyone. People can use Free … Read more
In the past few weeks, the IRS has released three publications, regarding divorced or separated individuals (See IRS Publication 504, “Divorced or Separated Individuals” (Doc 2015-663), small business retirement plans (See IRS Publication 560, “Retirement Plans for Small Business” (Doc 2015-664), and pension and annuity income (See IRS Publication 575, “Pension and Annuity Income” (Doc … Read more
Asset Protection strategies are something our clients at AttorneyBritt often inquire about. This article is from one of the excellent asset protection specialists we follow at our business law firm. “It is remarkable how the asset protection industry has so rapidly expanded in the last couple of years. This is primarily due to two factors. First, the … Read more