You can save money on your taxes with charitable giving with RMDs, or required minimum distributions. If you are 70½ or older and taking RMDs from your traditional IRA this applies to you. Learn how you can save on taxes by making charitable contributions directly from your IRA, which count towards your RMDs and lower …
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Video Tips: Love & Taxes: Essential Tips for Tax Planning Before Getting Married
Consider these tax planning tips before getting married and save yourself unpleasant surprises at tax time. If you think planning a wedding ceremony is complicated – wait till you see the possible tax issues involved! If you are saying “I Do” this year, there is a long list of things you need to be aware …
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Over 72? Start Withdrawing From IRAs And Retirement Plans To Avoid Penalties
The Internal Revenue Service today reminded those who were born in 1950 or earlier that funds in their IRAs and retirement plans face important upcoming deadlines for required minimum distributions to avoid penalties.
Over 72? Start Withdrawing From IRAs And Retirement Plans To Avoid PenaltiesRead More
Video: Individuals May Receive 1099-Ks For Sales Over $600
If you are you an individual who has received over $600 from any single customer last year, you may receive IRS form 1099-ks for sales. The IRS reminds taxpayers earning income from selling goods and/or providing services that they may receive Form 1099-K if they have received more than $600 for the year. IRS form …
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Video Tips: Taxpayers With An Outstanding Tax Bill Should Consider An Offer In Compromise
An Offer in Compromise can be an effective way for individuals and businesses to settle a federal tax debt. This federal program allows taxpayers to enter into an agreement, with the IRS, that settles a tax debt for less than the full amount owed. Sometimes taxpayers can settle for significantly less, especially if they have …
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Video Tips: Have You Received The IRS Reminder Letter? Ignore it.
Have you recently received an IRS reminder letter about your eligibility to claim credits or a refund? If you are an active client of Nissen and Associates – don’t panic! Rest assured, those credits have been claimed. We have diligently asked all the right questions to ensure you have claimed all the credits you are …
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Video Tips: Can’t Pay Your Taxes? Watch for options.
Concerned that after this last pandemic year you can’t pay your taxes? Most taxpayers will receive a refund when they file their income tax returns. But what if you end up owing the IRS and can’t pay your taxes within the given deadline? Watch this video for some possible solutions to minimize your tax penalties …
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Video Tips: New Tax Forms Coming For The 2022 Tax Season
Your new tax forms are on their way! The tax season is just around the corner. In fact, it begins January 24. Just 4 days from today. Documents reporting income, sales and other items needed for your 2021 tax return should be arriving soon. Here are some of the common tax forms to be on …
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Video Tip: The End to Backdoor Roth IRA Conversions?
Are backdoor Roth IRA Conversions a thing of the past? Possibly. New legislation has been proposed that could limit the ability of high-income earners to take advantage of Roth IRA conversions. Watch this video for a detailed explanation of the proposed legislation and how it might affect you. Have a question about this topic? Please …
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