Taking Distributions From a Traditional IRA

Taking Distributions From a Traditional IRA

Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA), it’s even more critical that you plan for withdrawals from these tax-deferred retirement plans. There are three areas where knowing...
Health Savings Accounts for Your Small Business

Health Savings Accounts for Your Small Business

Small business owners are very aware of the increasing cost of employee health care benefits. As a result, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). If you already have an HSA now is...
How Series EE Savings Bonds Are Taxed

How Series EE Savings Bonds Are Taxed

Many people have Series EE savings bonds they purchased several years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself and put them away in a file cabinet or safe deposit box. You may wonder: How is the interest you earn on EE...
Disability Income: How Is It Taxed?

Disability Income: How Is It Taxed?

Many Americans receive disability income. You may wonder if, and how, this income is taxed. As is often the case with tax questions, the answer is … it depends. The key factor is who paid for the benefit. If the income is paid directly to you by your employer, it’s...
Tax Responsibilities if Your Business is Closing Amid the Pandemic

Tax Responsibilities if Your Business is Closing Amid the Pandemic

Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If this is your situation, we’re here to assist you in any way we can, including taking care of the various tax obligations that must be met. Of course, a business must file a final income...