The following article was published by the IRS. Taxpayers may need to take money out of their individual retirement account or retirement plan early. However, this can trigger an additional tax on top of other income tax they may owe. Here are a few key things for taxpayers to know: Early withdrawals. An early withdrawal normally [...]
While mortgage rates have risen slightly from their recent historic lows, they are still cheap. This may be a great time for you to take out a mortgage, whether it be for a new house or simply to refinance. Regardless of your knowledge and history with mortgages, it is easy to make mistakes. [...]
The following article was published by the IRS. After last year’s tax reform legislation, some S corporations may choose to revoke their S election to be a C corporation because of the new, flat 21-percent C corporation tax rate. Before taking any action, S corporations should consult their tax advisors. S Corporations and C Corporations are [...]
This video was published by the IRS. One of the first things to figure out with your taxes is what filing status to use. What counts is your status as of December 31, not any other time of the year. There are five filing statuses. Which one is yours? Single? That's easy. If [...]
The following article was published by the IRS. The Internal Revenue Service understands that taxpayers are anxious to get details about their tax refunds. This has led to a number of common myths about refunds that often circulate on social media. While there’s no secret way for taxpayers to find out when their refund will be [...]
