Regardless why, you’ve decided to withdraw money from your IRA. Therefore, you need to know what tax liability (if any) you’re responsible for and if you need to make estimated tax payments. If you don't pay estimated taxes, you may face an underpayment penalty. Paying estimated tax for IRA withdrawals is not uncommon. You need ... Read More
Key Details You Should Know About the Trump Tax Plan
The Tax Cuts and Jobs Act (aka Trump Tax Plan) will be a game changer for corporations; the elimination of the Alternative Minimum Tax (AMT) and consolidation of tax rates down to 21 percent – are all permanent. But, what does it mean for individual taxpayers? Instead of sweeping reform, the new tax laws are a hodge-podge of ... Read More
