Tag Archives | tax
tax changes

Reduced RMDs Coming Your Way … But Not Until 2022

Here’s some good news for people nearing or already in retirement! In the future, you will be required to take less money from your retirement plans, but the new rules won’t take effect until 2022. That’s right. Required Minimum Distributions (or RMDs) will be heading downward starting in 2022, as the IRS recognizes that longer life […]

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Thank You, Ed Slott and Financial Advisor Magazine!

Thank you to America’s IRA Expert Ed Slott, CPA and to Financial Advisor magazine for hosting the incredibly informative June 9 webcast answering advisors’ questions on the 2020 retirement tax rules. Ed Slott, if you are not familiar with his name, is widely regarded by financial planners as the expert’s expert when it comes to […]

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Receiving Unemployment Benefits? Make Sure You Understand How They’re Taxed

Millions of American workers have been furloughed or laid off over the last few weeks, and have applied to receive unemployment benefits. For many, it’s the first time they’ve been out of work, and they’re not familiar with how unemployment benefits are taxed. So here’s a quick refresher course on how that benefit lifeline may […]

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Are You Getting Your Tax Money’s Worth In Florida?

Hate to pay taxes? Don’t we all. But wouldn’t you feel better knowing you and your community get the most in benefits compared to what you pay in? In WalletHub’s new Taxpayer Survey, researchers say Florida residents top almost all other states in getting their tax money’s worth back in benefits. In fact, compared to other states, […]

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Divorce and Tax: These Rules Are Changing After December 31, 2018

If you or someone you know may be planning to divorce, there’s an important change ahead affecting how divorce and alimony payments will be taxed. Under the new Tax Act, and for divorce agreements signed after December 31, 2018, alimony will no longer be tax deductible to the payor nor taxable to the recipient (currently, […]

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Warning! Do You Know Which Online Tax Prep Services Could Be Putting Your Security At Risk?

If you use a free online tax prep service to file your tax returns, you could be at risk for identity fraud. Six out of 13 online tax prep services audited by the global nonprofit Online Trust Alliance failed cybersecurity tests, meaning they could be putting your privacy and security at risk if you use them […]

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