Retirement Account Catch-up Contributions Can Add Up

Retirement Account Catch-up Contributions Can Add Up

If you’re age 50 or older, you can probably make extra “catch-up” contributions to your tax-favored retirement account(s). It is worth the trouble? Yes! Here are the rules of the road. The deal with IRAs  Eligible taxpayers can make extra catch-up contributions of up...
That email or text from the IRS: It’s a scam!

That email or text from the IRS: It’s a scam!

“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. A scam may come in through email, text messages, telephone calls or regular mail. Criminals regularly target both individuals and businesses and...
The best way to survive an IRS audit is to prepare

The best way to survive an IRS audit is to prepare

The IRS recently released its audit statistics for the 2022 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage of returns are being chosen for audits these days, that will be little consolation...
Tax news for investors and users of cryptocurrency

Tax news for investors and users of cryptocurrency

If you’re a crypto investor or user, you may have noticed something new on your tax return this year. And you may soon notice new form reporting requirements for digital assets – making this important tax news for cryptocurrency. Check the box Beginning with tax...