For the most part, SEPs (Simplified Employee Pensions) and SIMPLE (Savings Incentive Match Plan for Employees)-IRAs live up to their billing as easy ways to set aside tax-favored retirement funds for employees and employers. However, contribution rules for these plans … read more
What if you have a chance to pay taxes now in order to receive future tax free treatment on the earnings of those monies, would you convert? It would certainly depend on a number of factors. What if you could … read more
Are you eligible? This is the first hurdle when considering whether to convert your IRA to a Roth IRA. Before 2010, Roth conversions were limited to those individuals with modified adjusted gross income of $100,000 or less. In 2010, the … read more
Simplified employee pension individual retirement account (SEP-IRA) plans can be a very convenient retirement tool to self-employed business owners and small businesses. Any employer, such as a sole proprietorship, partnership, corporation, or nonprofit that has one or more employees is … read more
There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne, LLP we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.
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- Temporary Regulations Provide Guidance on Form 5471
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- Survey Suggests Taxpayers are Overconfident in Their Tax Prep Skills
- Timing Rules for SEPs and SIMPLE-IRAs Part II
- Timing Rules for SEPs and SIMPLE-IRAs Part I
- Are You an Identity Theft Victim?
- Supreme Court Decides Severance Pay is Subject to FICA Tax
- Mamma Mia! Who Can Deduct That?