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Taxes March 28, 2024
Dividing a 401(k) in Divorce
Note that a QDRO may be used for qualified plans, like 401(k) or pension plans, but this option isn’t available for IRAs. IRAs are subject to other rules.
Taxes November 29, 2023
5 Ways to Gift Yourself Tax Savings This Holiday Season
The Illinois CPA Society offers five money moves to make before the end of the year to create some tax-time savings now and in the year ahead.
Taxes November 28, 2023
Survey Shows Proposed 1099-K Rules Would Hurt Sellers
As a result of these proposed changes, 83% of marketplaces anticipate sellers to leave their platforms, and a majority (55%) of marketplace sellers and gig workers are reconsidering online selling and on-demand work.
Taxes November 27, 2023
Corvee Adds Augusta Rule Deduction Guidelines for Home Rentals to Tax Planning System
The nickname is derived from the practice of taxpayers renting out their in homes as temporary lodging during major sporting events hosted in, or near, their city.
November 21, 2023
Colorado Passes Property Tax Relief, Flat Tax Refund, EITC Match, Other Bills
Colorado may be known for having lower property taxes compared to most states, but historic increases in property values that will drive up tax bills prompted lawmakers to act.
Taxes November 20, 2023
When Will 2024 Tax Refunds Come? 2024 Tax Season Questions.
This easy chart can tell you when you are likely to receive your 2024 income tax refund, if you are due one. E-filing of tax returns will likely start in January.
Taxes November 17, 2023
Proposed IRS Regs Would Remove Deductions for Some Syndicated Conservation Easements by Pass-Throughs
Syndicated conservation easements have been included in the IRS' annual list of Dirty Dozen tax schemes for many years.
Taxes November 9, 2023
IRS Advisory Council Issues Report with Recommendations on Agency Changes
The 2023 Public Report includes recommendations on 23 issues covering a broad range of topics including: Sec. 302, EINs, 1099-K reporting, Employee Plans, Modernizing Forms.
Taxes November 2, 2023
How to Achieve a 0 Percent Capital Gains Tax Rate
Your gains and losses are short-term or long-term. Short-term loses reflect sales of assets held a year or less. Long-term gains are for sales of assets held longer than a year.
Payroll November 2, 2023
Strategies for Retirement Withdrawals (RMDs)
Of course, every situation different, but the conventional wisdom is to withdraw from taxable accounts first, tax-deferred accounts second and tax-free accounts third.
Taxes November 2, 2023
The Employer and Employee Tax Benefits of Group Term Life Insurance
Because employees are insured as a group, the overall cost is less expensive than it would be for individual policies.
Taxes November 2, 2023
Clean Energy and Climate Action Offer Tax Benefits
ESG, as the movement is known, includes the aspects considered when companies invest in environmental, social, and corporate governance policies.