Did You Take Your RMD for 2013?

Article Highlights In the year you reach 70½, you become subject to the required minimum IRA distribution rules. Failure to take the required minimum distribution can result in a 50% penalty. The penalty can be waived under certain circumstances. IRA-to-charity transfers are possible in 2013. The IRS does not allow IRA owners to indefinitely keep […]

Small Firm Health Insurance Marketplace Postponed

Article Highlights: Small Employer Health Insurance Credit Credit Qualifications Administration Delays Availability from Government Marketplace until 2015  Beginning in 2010, the federal government offered small employers a tax credit as an incentive to provide health insurance to their employees. This credit was up to 35% of the employer’s contribution toward the cost of the employees’ […]

Last Minute Tax Moves

Article Highlights: Year-end Tax Strategies Prepay Taxes if Not Subject to the AMT Pay Off Medical Installment Payments Advance Charitable Deductions Be Cautious of Overall Itemized Deductions Phase Out Prepay Tuition Expenses Fast Write-Offs For Business Purchases Year’s end is rapidly approaching, but there are still some tax-advantaged moves you can make before the New […]