As a general rule, debt cancellation income is taxable. But a 2021 law provides that most student loans forgiven from 2021 through 2025 are tax-free. Read more from Kiplinger's Money Power. https://tribunecontentagency.com/article/ask-kip-will-the-irs-tax-forgiven-student-loans/
Many workers aren’t ready to retire at the traditional retirement age of 65 and instead continue working into their 70s. While they can postpone retirement, they can’t entirely delay taking required minimum distributions (RMDs) from tax-deferred retirement accounts. If you’re working into your 70s, here’s what you need…
Social security benefit amounts depend upon many factors. Before applying for benefits, there are many questions to be answered. Elliot Raphaelson of The Savings Game answers some of the more common questions. https://tribunecontentagency.com/article/the-savings-game-social-security-income-restrictions/
Stubbornly high inflation has prompted the U. S. Federal Reserve (Fed) to raise interest rates at the fastest pace in decades. Credit and interest rate markets are working to adjust their expectations for Fed action and the impact of monetary policy on future economic growth.
In light of recent geopolitical developments in Ukraine and their effects on the market, you may be concerned about your investments. Rest assured that we are in tune with market conditions and don’t let our emotions lead to poor decisions.
Organized tax records make preparing a complete and accurate tax return easier and may help taxpayers find overlooked deductions or credits.
Whether you are a beginner or experienced investor, here at ATA Financial Group, we can provide you with insight and guidance based on an understanding of your unique situation. We offer a complimentary no-obligation financial review. In our meeting, we will go through 6 steps: Identify your goals and the level…
Depreciation is an annual tax deduction that allows small businesses to recover the cost or other basis of certain property over the time they use the property. It is an allowance for the wear and tear, deterioration, or obsolescence of the property. Small businesses can depreciate property when…
If you're a bit on the older side, you might have received a paper Series E savings bond as a gift from a grandparent or other relative. In fact, you might still have a few of those Series E bonds sitting in a safe or drawer somewhere, collecting…
Remember, the IRS never sends you emails regarding your tax refund. Scammers often pose as the IRS and send emails to taxpayers, asking for information "before their tax refund can be processed." The emails may appear legitimate and even say "From: IRS” or use their logo. But even…