Category: Taxes and Retirement

"Can I Contribute to an IRA, Roth IRA and a 401K if I have access to all these accounts? What are the limits and rules of doing so?" This is the kind of question I get fairly often and one that I actually had to recently sort out for myself. To determine…

Despite ongoing processing delays the IRS is continuing to process and pay tax refunds. However there are still a lot of folks seeing delays in getting their refund payment despite the Where is My Refund (WMR) IRS tool showing that the return has been approved (2 bars) and/or refund sent (3…

Common IRS Tax Questions This time of year taxes are on the forefront of most Americans personal finances. Which leads to searching online for questions like, "When can I file?", "How do I file?", "How much of a refund will I get back?", and "Why is the IRS taking so…

Millions of tax filers are now getting their actual tax refunds in line with the estimated IRS schedule. Payments are also being made in a much more timely fashion than was the case over the last few years. However when they filers see their actual refund is lower than expected,…

Thanks to the accounting folks at BConnect Inc, here is a straight forward tax preparation checklist that will save you time when you file with your accountant or before you start using tax software for self-filing. Tax preparation is faster, easier and more stress-free if you take a little time…

The IRS has announced that it is now processing tax returns for all taxpayers, including those who filed a return including those who claimed the EITC/ACTC. Unlike prior years, processing seems to be much smoother this year. The number of returns processed by the I.R.S. was down about 10 percent…

The IRS normally processes millions of returns and refunds in a timely manner, but unfortunately many tax filers and business continue to face extended delays, sometimes weeks or months after filing. So during and after tax season here are five key items you need to be aware of as you…

Many tax payers may find themselves owing taxes to the IRS or to their state tax agencies after preparing their tax return. Cash flow may be a bit tight, so they may opt to pay via their debit or even credit cards. But before doing so, it pays to be…

Before we file our tax returns there are a number of forms we need to receive from our employers, financial institutions and other third-party entities we make money from, conducted financial transactions or did business with. Below are estimated time frames for when we can expect to receive some of these common income tax forms for…

Many believe that income tax refunds are not beneficial to anyone but the government. By allowing more money than necessary to be deducted from your paycheck in taxes each week, these investors state that you are essentially giving the government (via the IRS) an interest free loan. Today, we will…

When it comes to filing your taxes, there are now a lot of free options that allow eligible low- and middle-income Americans to avoid expensive tax filing fees. Most leading tax software providers provide options via the IRS’ free file program which provides free or discounted federal income tax preparation…

With Donald J. Trump now America's 45th president many are now asking if he can bring around the economic change promised while on the campaign trail. A lot of people voted for him as a change agent and from an economic point of view at least are hoping he can…

In this article we will discuss Retirement Plan Contributions and Conversions and how these can reduce your taxable income in the current tax year. The last business day of 2016 is December 30th, so there is still time to make changes to your contributions to achieve the greatest reduction in your…