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IRS data indicate that fewer than 1% of all individual income tax returns are audited each year. That’s true, but some taxpayers are more vulnerable than others. For starters, the IRS is more likely to audit... Continue Reading

Among employer-sponsored retirement plans, 401(k)s have become the standard. Some prospective employees assume that a job will come with a 401(k). Therefore, offering a 401(k) at your company may help you hire... Continue Reading

  Traditional defined benefit plans, structured to provide a lifelong pension, have become rare in the private sector. They’re still the norm for public sector employers; some large companies continue to... Continue Reading

  If you or a loved one ever need help with daily living activities, you will discover that custodial care can be expensive. That’s true whether the care is provided at home, in an assisted living... Continue Reading

  Workers under age 70½ can deduct contributions to a traditional IRA, as long as they are not covered by an employer’s retirement plan. The same is true for those workers’ spouses. If these taxpayers... Continue Reading

Business owners who want to sponsor a retirement plan for employees (including owner-employees) have many options from which to choose. Knowing the basics can help entrepreneurs make an astute decision. One... Continue Reading

A new year begins with celebrations, resolutions, and dual IRA opportunities. Most workers and their spouses have until April 18, 2017 (April 19 in some states), to contribute to an IRA for 2016. At the same... Continue Reading

  Treasury Decision 9787 – Final Regulations Under §707 Regarding Disguised Sales and §752 Regarding the Allocation of Excess Partnership Nonrecourse Liabilities to a Partner On October 4, 2016, the... Continue Reading

  The Internal Revenue Service has announced the tax year 2017  annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure... Continue Reading