This is a very timely article by the WSJ about how people are using their retirement plans to provide liquid funds to pay billsuntil the economy recovers. There are tax smart ways to access dollars in your plan.
Tax Planning & Preparation
Minimize both your current and future tax liabilities.
- Should You Tap Retirement Funds in a Crisis? Increasingly, People Say Yes.
- Atlanta advisor John L Mills Tax Centers of Georgia interviewed in Detroit during 1200 point stock market drop
- New Higher Retirement Plan Contribution Limits for 2017
- IRS Secret Gift to Business Owners
- Why You Should Love Your Stinkers
- Know the Tax Consequences of Your Stock TradingDon’t let your stockbroker off the hook when it comes to tax planning. Many people work with brokers when they buy and sell stocks. Many people now, because of the internet, also have become their own stockbrokers, doing their own research and trading on various platforms. Whether you use a professional or do your trades yourself, you still […]
- Plan Now to Save LaterIt’s May and the 2021-2022 tax filing season has finally come to an end (for most of us), and for many with a familiar recurring moooooan and grooooooan of having paid too much in taxes. Now is the time to take your preventative medicine and avoid the pain next year! Being human, we all form […]
- Did Your Withholdings and Estimated Tax Payments Equal Your Tax Due? Should It?For people with just one or two W2s and perhaps a daycare deduction, getting the amount of tax paid into the IRS to come out correctly is easy enough and can be done within a 95% accuracy rate. The IRS gives the follow instruction: All taxpayers should review their federal withholding each year to make […]