It’s not too late to cut your 2019 tax bill.? Prior to Dec. 31st: Increase your 401(k) and 403(b) contributions if you haven’t been contributing at the maximum rate all year. If you?re self-employed, consider setting up a Solo 401(k) by 12/31. Take a look...
Scammers are at it again, this time calling up taxpayers, impersonating the IRS, and threatening to suspend or cancel social security numbers. According to the IRS, these calls can come in as ?robocall? voicemails, requesting people to call back. The scammers may...
Have you been dabbling in cryptocurrency trading? The IRS is stepping up its efforts to provide guidance to taxpayers around cryptocurrency transactions and has enacted some new compliance measures. On 2019 tax returns, the IRS will require taxpayers to check off a...
Does part of your family’s financial planning include gifting? If so, here are a dozen tips to follow: Annual gift exclusion is $15,000 per year by an individual to another individual, or Annual gift exclusion is $30,000 per year gifted jointly from a married...
Consider adding your teenage children onto your company payroll. If you are self-employed and have children that are old enough to work, consider adding them onto your company payroll.? There are several tax benefits and opportunities for income shifting within the...
Most working professionals have access to a 401(k) plan or a 403(b) plan at work.? Amounts contributed to these plans generally reduce your taxable earnings and always grow tax deferred.? You can contribute up to $19,500 into a 401(k) or 403(b) plan through salary...
