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Key Takeaways 529 plan funds can grow federally tax-free when used for qualified expenses The SECURE Act of 2019 expanded the list of qualified expenses, including […]
Key Takeaways The 1040-SR doesn’t have an income limit, as on the old 1040-EZ You must be 65 or older to use the new form Form […]
Key Takeaways Brokerage account 1099s should be postmarked by February 15, 2020 The extra time helps your broker minimize the number of corrections it must issue […]
Key Takeaways Save yourself time with e-delivery of tax forms and documents Safeguard your personal information with electronic communications Help the environment by reducing paper forms […]
Key Takeaways Understand the child tax credit changes for the 2019 tax year Stay on top of the child tax credit requirements so you know how […]
Key Takeaways A corrected 1099 might not mean a mistake, but rather an income reallocation File for an extension ahead of time if you think there’s […]
Key Takeaways The IRS normally initiates contact via regular mail The IRS doesn’t demand immediate payment with no opportunity for appeal The IRS doesn’t threaten to […]
Key Takeaways Income is taxed in stages according to different levels or “brackets” Know which tax bracket you fall into so you can plan accordingly Understand how […]
Key Takeaways Itemizing deductions may not make sense for many taxpayers in light of the U.S. tax code changes Learn how the tax code affects specific […]
Key Takeaways Retirement accounts can be subject to tax penalties if rules aren’t followed carefully Learn some of the retirement account mistakes to avoid Look to […]