Category: Income Tax

So what’s to be done with the old family Clunker? It’s now ten years old and it has been around the world twice. From July through October of 2009 you could have turned that old heap into a $3,500 – $4,500 voucher towards the purchase of a new car. (Of course it had to be in drivable condition and been continuously insured.) Now it seems that no one wants to buy it. Through the process

Are health insurance premiums taking too big of a bite out of your budget? Do you wish you had better control over how you spend your health-care dollars? If so, you may be interested in an alternative to traditional health insurance called a health savings account (HSA). How does this health-care option work? An HSA is a tax-advantaged account that’s paired with a high-deductible health plan (HDHP). Let’s look at how an HSA works with

While this post contains difficult reading (I admit it!), it does provide important information for those subject to the Required Minimum Distribution rules. If these rules do not apply to you and you read this anyway, you probably should have been a CPA! Required minimum distributions, often referred to as RMDs, are amounts the federal government requires you to withdraw annually from traditional IRAs and employer-sponsored retirement plans after you reach age 70½ (or, in some