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Tax Planning

Tax Guidance: What Can You Depend On?

Guidance on the tax code takes many forms. Some are universal and apply to everyone. Other forms of guidance apply only to the taxpayer who asked for the guidance. Following is the hierarchy of tax guidance and how it interacts with retirement plans.

3 Year-End Tax Planning Strategies to Consider

Year-end means busy. Chaotic, time-strapped busy with family obligations, festive celebrations and closing the books on 2015. "Closing the books" includes year-end tax planning - and to assist with that endeavor - I've detailed three tax planning strategies you should consider at year-end. So, if you are self-employed, own your own business or just want to take advantage of tax-saving strategies, read on for my list of key year-end maneuvers.

Ruling to Remember: The Funds Are Still Taxable to You

This month's Ruling to Remember examines the case of a former plan administrator with the United Public Workers (UPW) Mutual Aid Trust Fund who was convicted of multiple crimes and used funds in a rollover IRA to pay the fine and restitution. What comes next is several judgments and disagreement over tax liability.

How to Reduce The Tax Bill on Your IRA to $0 (or Close to)

What if you could avoid 100% of the income tax on your IRA? Or at least reduce the tax to as close to $0 as possible? While a totally tax-free IRA may seem like something that only exists in your dreams, there are some circumstances in which it may be possible. Here's how to make your IRA dreams come true.

Tax Reporting for 2014 Qualified Charitable Distributions: What You Need to Know

We still get many questions on how a taxpayer should report a QCD (qualified charitable distribution) on their tax return. Jeffrey Levine takes you through the IRS Forms to use and what you should write on certain key lines.

5 SMART Ideas For Your Tax Refund

The 2015 tax season is now in full swing. As you finish preparing your own return for this year, maybe you were too generous with Uncle Sam last year, and he owes you a refund. If that’s the case, here are 5 ways you might consider using this year’s tax refund other than heading off to the Caribbean or buying a new flat-screen TV.

Don't Forget to Report Rollovers to IRS

It's tax season. Every year, many people get lost in the numbers, the deductions, the credits, and the refunds. They forget to report rollovers to the IRS, especially tax-free rollovers. We examine the process, where you should be looking for these numbers and how to report them.

Ed Slott's Retirement Road Map Now Airing Nationally

Ed Slott shows how to take retirement savings on a permanent vacation from taxes and avoid Uncle Sam in his new Public Television Special, Ed Slott's Retirement Road Map! This program is filled with the ingredients that made Ed's previous programs so successful - wisdom, humor and insight, helping viewers navigate the potholes, detours and road blocks to a prosperous and worry-free retirement. Learn how to move your retirement savings from accounts that are forever taxed to accounts that are never taxed.

Academy Award Losers Win Big ... But Uncle Sam Wins Even Bigger

It paid to be a loser at this year’s Academy Awards, at least for some. Instead of taking home the golden Oscar, losing nominees in the big categories – best supporting actor, best supporting actress, best actor, best actress and best director – took home some serious swag.

The Tax Consequences on Your Super Bowl XLIX Betting

If you’re one of the millions of Americans that will have some type of money riding on this weekend’s big game, your gambling wager could have both tax and IRA planning consequences. We break down what happens if you win or lose plus a prediction for Super Bowl XLIX.


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