May 21, 2015 3:33 pm

It depends on your plan. Tax law allows plans to permit “in-service withdrawals” by those who are still employed at the company maintaining the plan. However, plans are not required to offer this ...

May 21, 2015 3:31 pm

Long-term disability income received prior to the minimum retirement age which is shown as taxable compensation in box 1 of Form W-2 is treated as earned income for purposes of contributing to an IRA ...

May 21, 2015 3:28 pm

Yes, if you have a record of your driving. The rate for driving for medical purposes is 23.5 cents per mile in 2014 and 23 cents per mile in 2015....

May 21, 2015 3:24 pm

Whether you prepare your return yourself (on paper or electronically) or use a paid preparer, you need information to input. Hopefully, you’ve kept great records throughout the year to simplify your...

May 21, 2015 3:20 pm

There are many current needs—health care premiums; mortgage payments—that use up our hard-earned dollars, making it challenging for many people to save money for future needs. Fortunately, Uncle S...

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May 21, 2015 3:24 pm

Whether you prepare your return yourself (on paper or electronically) or use a paid preparer, you need information to input. Hopefully, you’ve kept great records throughout the year to simplify your...

May 21, 2015 3:20 pm

There are many current needs—health care premiums; mortgage payments—that use up our hard-earned dollars, making it challenging for many people to save money for future needs. Fortunately, Uncle S...

May 21, 2015 2:58 pm

With the real estate market heating up in most locations across the United States, a personal residence is again an important tax shelter for homeowners. You can garner tax breaks when you buy, while ...

May 21, 2015 12:17 pm

The Affordable Care Act (ACA) imposes an individual mandate starting in 2014: carry minimum essential health coverage for you, your spouse, and dependents under age 18 or pay a penalty. The penalty do...

May 21, 2015 12:06 pm

Each year the IRS announces cost-of-living adjustments to dozens of tax items, including standard deductions, personal exemptions, and retirement plan contribution limits. But there are some dollar am...

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December 2, 2014 8:30 am

A new tax year is set to dawn shortly and recently released cost-of-living adjustments can help you plan for 2015. Due to low inflation, increases in the tax brackets and other tax items are minimal; ...

November 18, 2014 8:30 am

This year has been a bumpy ride on Wall Street, with dramatic swings up and down. Now is a good time to review your retirement account and your personal portfolio. While changes you make in your retir...

November 4, 2014 8:30 am

Medicare is a government health program primarily for the 49 million Americans age 65 and older. Those covered by Medicare are deemed to have minimum essential health coverage as required by the Affor...

October 21, 2014 8:30 am

Concerned about care if you should experience a chronic condition or just old age requiring assistance for your daily living activities? You should be, because the cost of long-term care—in your hom...

October 7, 2014 8:30 am

Amended Returns: Why, When, and HowIf you’ve filed a federal income tax return that you know does not accurately reflect your income and deductions, what should you do now? It depends on the ye...

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May 21, 2015 3:33 pm

It depends on your plan. Tax law allows plans to permit “in-service withdrawals” by those who are still employed at the company maintaining the plan. However, plans are not required to offer this ...

May 21, 2015 3:31 pm

Long-term disability income received prior to the minimum retirement age which is shown as taxable compensation in box 1 of Form W-2 is treated as earned income for purposes of contributing to an IRA ...

May 21, 2015 3:28 pm

Yes, if you have a record of your driving. The rate for driving for medical purposes is 23.5 cents per mile in 2014 and 23 cents per mile in 2015....

May 21, 2015 3:14 pm

The dollar limit for contributions to a medical FSA for 2015 is $2,550. Each spouse can contribute up to this limit as long as each works for an employer offering such a plan. This enables a couple to...

May 21, 2015 3:09 pm

Your husband can total all of his IRAs and then take his annual distributions from any one or more of the accounts; you must figure your RMD separately and take it solely from your IRA....

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May 22, 2012 1:24 pm
IRS Announces More Flexible Offier-in-Compromise Terms to Help a Greater Number of Struggling Taxpayers Make a Fresh Start, From IRS.gov, 5/21/12
April 23, 2012 10:21 am
Federal Circuit dismisses refund suit based on all-zero returns, From Journal of Accountancy, 4/20/12
April 18, 2012 10:17 am
What's the Most Ridiculous Thing You've Heard This Tax Season?, From CPATrendlines, 4/16/12
April 17, 2012 10:48 am
Celebrities are often in debt to the tax man, From USA Today, 4/17/12
April 11, 2012 11:03 am
Study finds tax deadline day can be deadly on roads, From Foxnews.com, 4/10/12
More Stories
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2015 Tax Supplements

The 2015 e-supplements for these titles are now available!

  • Your Income Tax 2015
  • 1001 Deductions and Tax Breaks 2015
  • Small Business Taxes 2015

Click here to download your FREE supplements.

View Prior Year Supplements.

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“Unquestionably, there is progress. The average American now pays out twice as much in taxes as he formerly got in wages.”— H. L. Mencken, journalist and satirist