TaxAudit Blog

Tag: IRA

Glass globe on financial statements

I’m hoping you are relaxing somewhere with an umbrella drink after tax season. My wife and I are considering installing a solar electrical system on our house..

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Couple sitting in chairs relaxing on the beach

You remember you hit the snooze button on preparing your 2014 return in April and filed an extension. As you put the chips and salsa in the car, scenes...

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Yellow sign that says Retirement Ahead

You want to save money towards your retirement, but your employer does not offer a retirement plan, such as a 401(k). You are not alone...

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Block with Tax words on it

You have your traditional IRA account invested at your bank but you are not happy with the rate of return. You’ve heard that it’s possible to move your IRA...

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Calculator and pen on top of 1040 tax forms

My wife made a $5,000 contribution to her IRA in last year. Through using TurboTax, we learned that we don't have the earned income to support a deduction...

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Green sign that says Retirement Next Exit

You just found out your Uncle Jerry passed away and that he had listed you as the sole beneficiary to his traditional IRA account. You go down to the bank...

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Couple sitting in chairs relaxing on the beach

You have been talking to your financial advisor or hear in the news how great Roth IRAs are and that you should be contributing to a Roth IRA.

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Retired couple relaxing on a boat

I have a confession to make: I’m thirty, single and have about a hundred dollars in my savings account. In addition, I have no retirement plan!

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two people looking over financial charts

My wife has an IRA under professional management with a financial advisor here in Portland. Can we deduct the fees charged for his services?

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glasses and pen laying on top of tax form

I retired from my main source of employment due to some health issues, but I am not ready for Social Security and I am not yet retirement age at 57.

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TAX spelled out with tiles

Want to pay less taxes on inherited retirement accounts? Beneficiaries have options available that  may result in increased benefits and less taxes due.

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Retirement Ahead Sign

Did you retire this year or turn 70 prior to July 1st? You may have think about Required Minimum Distributions (RMDs).

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401k nest egg

As the end of the year approaches, the holidays are probably more on your on your mind than saving on your taxes.

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$100 bill wrapped in a bow

Inheriting money is kind of nice for people. You have usually done nothing to earn it but be born. You most likely have not worked for it. 

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Supreme Court

This decision is likely to impact many taxpayers, particularly anyone expecting to inherit an IRA from a parent or someone else.

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Retirement Ahead Sign

I would like to know if I need to declare my Roth IRA and traditional IRA accounts on my tax return even if I haven't contributed to them in the last 4 years.

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church

Is there a tax benefit to making a charitable contribution to my church directly from my IRA rather than writing a check and deducting it from my tax return? 

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Financial charts and graphs

I recently filled out an online tool on a financial advisor website. It had some catchy feel good name like Dream Catcher or something of the like.

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Retirement Ahead Sign

If you are a 20 or 30 something - people in this age group should have saving for retirement at the top of their list of things to do.

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Piggy bank

Under 59½? Need some extra cash? Don’t use your retirement! It isn’t a savings account or a piggy bank to be used to buy an extra pizza on Saturday night

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Pie Chart with 1/3 a 1040 tax form

Enter Dave Du Val! Dave is our Vice President of Customer Advocacy and among many other things, a tax expert. He sat down with me and set my head straight.

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stack of large books

 It’s a long story that begins long before the arrival of the first Form 1040 Income Tax Return of Annual Net Income of Individuals...

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