In the News

Copyright 2017

Want to borrow money from your retirement plan?  Not so fast. Retirement plan loans can be a viable way to get money in a crunch, but you need to follow the rules about repaying them. If you don't, it could lead to unfavorable tax consequences, as two taxpayers recently learned the hard way in U.S. Tax Court.

Copyright 2017

Could your data be hacked?  Unfortunately, every organization -- including for-profit  businesses, not-for-profits and government agencies -- is vulnerable to cyberattacks today.

Copyright 2017

Do you regret converting your traditional IRA into a Roth IRA? Fortunately, a taxpayer-friendly aspect of the Roth conversion rules is that you have until  October 15 (adjusted for weekends) of the year following the year of a  conversion to reverse it. In other words, the deadline for reversing any 2016  Roth conversions is October 16, 2017.

Copyright 2017

The Work Opportunity tax credit (WOTC) is a federal income tax credit that's available to businesses that hire members of certain "targeted" groups. Here's how your business may be  able to benefit from this potentially lucrative tax break.

Copyright 2017

School is back in session. So, it's time for a refresher on tax breaks for  work-related education expenditures. Here's what individual taxpayers need to know.

Copyright 2017
The U.S. Department of Labor's Wage & Hour Division (WHD) has announced that the minimum wage rate for federal contractors will increase from $10.20 per hour to $10.35 per hour, effective January 1, 2018.
Copyright 2017

The IRS recently announced special tax relief for leave-based donation programs set up by employers to assist victims of Hurricane Harvey and Tropical Storm Harvey.

Basics of Employer Programs

Copyright 2017

Reverse mortgages have been around for years. But they're getting a new spin:  Some senior homeowners are tapping into their home equity to "bridge the gap"  until the time they're ready to apply for Social Security benefits.

Copyright 2017

Back-to-school season is a good time to review the federal tax breaks that are  currently available if you or a loved one will be attending college or graduate  school this fall. After all, a higher education degree is one of the biggest  investments you'll ever make. 

Copyright 2017

Created just a few years ago in 2014, the My Retirement Account (myRA) program will  end, according to the U.S. Department of the Treasury. As part of the Trump  Administration's effort to slim down wasteful spending where possible, the  Treasury has decided this short-lived Roth IRA backed by the government isn't cost effective.

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