Category Archives: Tax

The importance of maintaining good tax records

Keeping your tax records organized year-round is a good practice and will keep you from hastily assembling your documents for your annual tax preparation appointment. If you are diligent about maintaining your tax records, you won’t have to worry about … Continue reading

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Why you should consider a midyear tax review

Most people don’t include tax planning on their summertime agenda, but there are benefits to doing so. The problem with waiting until the end of the year is that you reduce the time for planning strategies to take effect. If … Continue reading

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Last chance to claim a 2013 refund

According to the IRS, nearly one million taxpayers who failed to file a return for 2013 are in danger of losing refunds. Tax law provides a three-year period to claim a refund when no return is filed. That means you’ll … Continue reading

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Name mismatch?

If you or a dependent had a name change in 2016, notify the Social Security Administration (SSA) before you file your tax return with the IRS. If the name on your tax return does not match SSA records, the IRS … Continue reading

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Don’t make an expensive mistake with your IRA

Simple mistakes on your IRA can cost you dearly. Perhaps you accidentally doubled up on your IRA contribution for 2016. Did you forget to take your required minimum distribution and then notice the oversight when you were gathering the information … Continue reading

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Tax records – What you should keep

It’s that time of year when you are getting ready to sort out last year’s financial records and prepare for this year’s recordkeeping. Do you know what you should keep and what can you throw away? Here are some suggestions. … Continue reading

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Do you need to think about the alternative minimum tax?

You may not have thought much about the alternative minimum tax, or AMT, since Congress passed a law that permanently fixed the exemption. But the tax, which you calculate separately from your regular tax liability, is still around. Here’s how … Continue reading

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