It’s never too late to save for retirement. Individual Retirement Accounts are a great way to save. If you have an IRA or want to open one, here are year-end rules and reminders: Know Your Limits. The maximum contribution to … read more
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.
Before posting a comment on a blog post please be aware that we do not give free tax advice to non-clients by email, comment response, or phone. Thank you!
- A Special Tax Break for Songwriters
- Foreign Pensions from a U.S. Tax Perspective
- IRS “Get Transcript” Fiasco Gets Worse
- Pushing for Tax Reform – Retirement Plans
- Overpaying the Affordable Care Act Individual Mandate
- Mid-Year Tax Planning Strategies
- The Federal Tip Credit: An Overlooked Tax Benefit for Restaurant Owners
- AZ Releases New Form 290 Request for Penalty Abatement
- Plan B for Paying Your Taxes When You’re Short on Cash
- New Due Dates for Tax Returns – How Does This Affect You?