The IRS has new RMD tables effective January 1, 2022 but they are hard to find. See how much you are required to withdraw from your IRAs in 2022.
The tax brackets, standard deduction, and the 0% capital gains tax cutoff point for single and married filing jointly filing statuses will go up next year.
401k/403b/457 contribution limits will go up in 2022. Traditional and Roth IRA contribution limits will stay in the same.
Use this calculator to see the marginal tax rate on Roth conversions and long-term capital gains when you also receive a subsidy on ACA health insurance.
Don’t jump through hoops to opt out of the 2021 Advance Child Tax Credit. You may miss out on tax benefits if you do. Do nothing and accept the money.
President Biden’s COVID stimulus package American Rescue Plan turns the ACA premium subsidy cliff to a slope in 2021 & 2022. The cliff will return in 2023.
If you get health insurance from ACA, the government sets the percentages of income you are expected to contribute toward a benchmark policy.
Filing the Form 5500-EZ for your solo 401k plan is super easy but you have to remember to file it. I use these the plan characteristics codes.
If you withdrew from your retirement account due to COVID in 2020, follow this to get the special tax treatment in TurboTax and H&R Block tax software.
Although you will be required to submit more documentation, you should estimate your income as low as possible and get the highest premium subsidy upfront.
Many investors are confused when they report Backdoor Roth on their tax return. It’s very clean if you learn how to do it the easy way.
A list of payroll providers and financial institutions from which you can import W-2 and 1099 Forms into TurboTax or H&R Block tax software.