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