After all the advice you've received about saving for retirement, taking money out of your traditional IRAs and other qualified retirement plans may feel strange. Yet once you reach age 70-1/2, the required minimum distribution (RMD) rules say you have
Read moreJust a shout out to all you Baby Boomers out there!Three important birthdays affect your retirement plan:At age 50, you can make extra "catch-up" contributions to your IRA and 401(k) savings. For 2013, these are $1,000 aand $5,500, respectively.After age
Read moreAre you looking to jump on the "crowdfunding" bandwagon? This trendy method of investing in start-up companies gained momentum after federal legislation was enacted last year, but the basic idea has actually been around for centuries. It just has a
Read moreThe IRS reminds taxpayers that certain energy credits are still available. If you haven't already taken adventage of them, this may be the year to make energy-efficient improvements to your home. You may be entitled to a credit of 10%
Read moreWhether you are a stock market bull or bear, you probably have investment expenses. You may be wondering if they are deductible on your federal income tax return.Here's a quick overview:What are investment expenses? Investment expenses are amounts you pay
Read moreIf you have assets in a foreigh account and the total value exceeded $10,000 at any time, you just file the "Foreign Bank Account Report" (commonly called FBAR) by June 28, 2013. The FBAR is an annual information form, filed
Read moreDo you wonder what your odds are of being selected for an IRS audit? Statistics just released for tax returns filed in 2011 and audited in 2012 show a 1% audit rate for individual returns. About 3.6% of business returns
Read moreIt's scary to read that identity theft is on the rise, with over 10 million cases of stolen identity in the past year! One of the most popular and successful forms is the use of fake charities. Do some research
Read moreThe IRS reports that even though April 15th has come and gone, fradulent e-mails purporting to be from the IRS are still running rampant. Here is what you need to know to protect yourself.The typical scam starts with an e-mail
Read moreIf spring cleaning leaves you with items that you want to donate to charity, remember that donations of used clothing and household items must generally meet certain requirements to be tax-deductible. First, such items must be in "good used condition
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