Father Time has closed the book on 2018. We’ve sung Auld Lang Syne. And now our focus is on all the things that have to be done this year, which includes filing your income tax return for 2018 using the new tax rules. Oh Joy! Staying in the...
In 2019, professional baseball player Bryce Harper signed the largest free-agent deal in the history of North American sports up to that time—$330 million dollars to play for the Philadelphia Phillies for 13 years. He had similar offers from the Los Angeles Dodgers and the San Francisco...
There are certain questions of life we all want answered. What happens when you die? Does my life have meaning? How long should I keep tax records? Personally, my answer about keeping tax records is biased because I’m a safety man. I would wear a belt AND suspenders—just in case.
Believe it or not, the penalty for failing to file a tax return exceeds the penalty for failing to pay your taxes. Filing an extension is a way to make sure you don’t fall into the bad graces of the Internal Revenue Service. I’ve talked to lots of...
To say there were some ticked off folks after-tax returns were filed for 2018 is an understatement. Border-to-border and coast-to-coast people who normally don’t have to send the IRS additional money were first shocked, and then angry that the government was demanding more. People who got a...
IRA rollovers are as common as drinking water. But if your rollover isn’t done correctly, it can cost you taxes and penalties, sucking out money that could have been used for your retirement. In this article from MarketWatch, you’ll discover 4 of the most expensive IRA rollover tax traps and how...
How many times have we heard, “Give to Caesar what belongs to Caesar”? Ok, but if you carry that line of thinking a little farther, don’t give Caesar, or the IRS, MORE than they’re supposed to get. If something is in the IRS code, and...