File Your Tax Returns on Time – Even If You Can’t Pay

Generally, taxpayers should file their tax returns by the deadline even if they cannot pay the full amount due, but if you can't, there are several options. Let's take a look at a few scenarios: 1. An individual taxpayer owes taxes, but can't pay in full by the deadline. If this is the case, file [...]

File Your Tax Returns on Time – Even If You Can’t Pay2021-05-05T17:12:58+00:00

R&D Tax Credits Can Provide a Valuable Tax Benefit

U.S. tax law provides a valuable benefit — in the form of a nonrefundable tax credit — for businesses that engage in qualified research and development activities (see a list below). The Sec. 41 credit, which amounts to as much as 20% of the excess of qualified research expenditures for the tax year over [...]

R&D Tax Credits Can Provide a Valuable Tax Benefit2020-11-25T15:58:48+00:00

Rolling Over 2020 Retirement Plan Required Minimum Distributions

Generally, taxpayers must begin taking a required minimum distribution (RMD) from a defined-contribution retirement plan, including a 401(k) or 403(b) plan, or an IRA when they reach age 72 (70 1/2 if they reached 70 ½ before January 1, 2020). The RMD for any year is the account balance as of the end of [...]

Rolling Over 2020 Retirement Plan Required Minimum Distributions2020-07-20T14:37:20+00:00
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