AGI
High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of the…
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Are you a charitably minded individual who is also taking distributions from a traditional IRA? You may want to consider the tax advantages of making a cash donation to an…
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In some cases, homeowners decide to move to new residences, but keep their present homes and rent them out. If you’re thinking of doing this, you’re probably aware of the…
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With the start of the new year, most people are reflecting on the past and making resolutions – while not necessarily thinking about filing taxes, April 15th is coming soon!…
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You may be able to deduct some of your medical expense, including prescription drugs, on your federal tax return. However, the rules make it hard for many people to qualify.…
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Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a…
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Feeling charitable? Now’s the time to give In an economic downturn, charitable donations typically decline. So, if you’re in a position to donate, charitable organizations need your help now more…
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Nearly everyone has heard about the Economic Impact Payments (EIP) that the federal government is sending to help mitigate the effects of the coronavirus (COVID-19) pandemic. The IRS reports that…
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Millions of eligible Americans have already received their Economic Impact Payments (EIP) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part…
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