You’re probably getting ready to go through 2017’s records and prepare for this year. But what should you keep and what can you throw away? Here are some things to keep in mind as you sort through your records.
Tax time is here. That means you need to check to make sure you have all the forms you need to file your 2017 tax return. Some of the most common forms include W-2s, 1095s and 1099s. Other commonly used forms are 1098s (used to
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Big tax law changes mean even bigger opportunities for taxpayers. Take a look at some of the changes to come out of the Tax Cuts and Jobs Act and consider how they could affect you.
The IRS said it will allow large health insurance companies to delay sending out health insurance confirmation forms. The Jan. 31 due date has been delayed until March 2. Keep in mind that you can still fill your tax return without this form as long
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The IRS is warning taxpayers to keep on high alert for the next few months. Scammers may try to get their hands on your money or tax return by collecting your personal or financial data. According to the IRS, its employees will never: Threaten to
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The IRS recently announced new withholding guidelines for all employers and payroll companies. Employers are expected to update your paycheck on or before Feb. 15. That means you’ll need to review the amount withheld from your paycheck. Why? Because the Tax Cuts and Jobs Act
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Did you know that if you inherit a retirement account from a loved one you may be required to pay income tax on the whole thing right away? With smart planning, you may be able to avoid this scenario. That includes creating a formal stretch-out
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Required Minimum Distribution (RMD) Required Minimum Distribution (RMD) rules are pretty strict. If you don’t want to face a hefty fine, you must withdraw a certain amount of money every year from tax-deferred retirement plans like 401(k)s and traditional IRAs after you reach age 70½.
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It’s simple enough to overlook this tax related to household employees. But you could be in trouble if you do. Here’s why you’d better pay attention to the nanny tax.
Brokers are required to report your cost basis to the IRS. Without good recordkeeping, you may not be able to prove you were overtaxed because of incorrect basis reporting by your broker. You can avoid problems caused by errors in reporting by keeping detailed records
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