Taxes and Traditional IRAs: What You Need to Know

If you weren’t already aware, in general, contributions made to a Traditional IRA (individual retirement account) are tax-deductible if you or your spouse are not covered by a retirement plan at work. For 2016 and 2017, the annual contribution limit for a traditional IRA is $5,500, or $6,500 if you’re age 50 or older. Contribution […]

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Estimated Tax Payments: Learn the Basics

We all know that the Internal Revenue Service (IRS) expects to you to pay your taxes on the income you receive during the year. The average working taxpayer is accustomed to paying their taxes as they go throughout the year by income tax withholding done by their employer. This is convenient and simple for those […]

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Record Contributions on Giving Tuesday Predicted for 2016

November 29, 2016, is called “Giving Tuesday.” Joining in the trend of Black Friday, Small Business Saturday, and Cyber Monday, the Tuesday after Thanksgiving has grown into one of the biggest fundraising drives for non-profits. It’s a day when charities encourage people to make year-end donations, many through using the hashtag on social media of […]

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Repaying Your Student Loan

Belated congratulations to the Class of 2016! Hopefully you’ve spent the last six months enjoying the summer since your graduation. For thousands of graduates with Federal Student Loans, we’ve got some bad news: your loan’s grace period is about to end. What’s a grace period? There’s a six-month window between when you leave school (or […]

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Tax Advice for Military Families and Veterans

Members of the U.S. Armed Forces and veterans are required to pay taxes on their income like everyone else. But special rules sometimes apply. Here’s an overview of key tax benefits that the IRS provides to military personnel to thank them for risking their lives for our country. Combat Zone Exemption One of the most […]

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Student Loan Relief: Taxable or Not?

In honor of Financial Literacy Month, we’d like to talk about one of the biggest issues facing many Americans today. It’s no secret that today’s college students often leave school with mountains of student loan debt. There are multiple ways to be relieved of student loan debt, including the debt being paid off as a […]

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10 Elections That Can Save Money on Your 2015 Federal Taxes

1. Joint vs. Separate Returns One of the first decisions for a married couple to make is whether to file jointly or separately. Most couples will fare better with a joint return, but that’s not always the case. For example, one spouse might have a disproportionately high amount of casualty losses or deductible medical or […]

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