Donating Stock to Charities Can Yield Bigger Tax Savings

Scrolling through your inbox, you come across an e-mail from your favorite charity asking for a donation. You've been meaning to make a contribution for a while now, but just never got around to sending them a payment. But you're ready to do it now, and you're cyber smart, so you avoid the e-mail and …

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Tax-Free Roth IRA Withdrawal Options

What every Roth IRA account holder should know Withdrawing funds from your retirement accounts must be done carefully to avoid a potential 10% early withdrawal penalty. Unfortunately, each retirement account type has different rules. Here are some tips for Roth IRAs. Roth IRA basics Roth IRA accounts differ from other IRAs in that your contributions …

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Reminder: Estimated Taxes Due Now is the time to make your estimated tax payment

If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The 1st AND 2nd quarter due date is now here. Due Date: Wednesday, July 15, 2020 You are required to pay, or withhold from your paycheck, at least 90 percent of …

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August 31 is New Deadline to Avoid Distribution Tax Hit

Did you receive a required minimum distribution from a retirement account in 2020? If so, you may be able to return it to another retirement account by August 31 without taking a tax hit. Here is what you need to know: Background on distributions and roll overs You generally must begin taking distributions from IRAs …

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