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.
Covid Retirement Account Withdrawal in TurboTax and H&R Block
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.
ACA Health Insurance Enrollment: Request Subsidy Upfront Or Not
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.
Make Backdoor Roth Easy On Your Tax Return
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.
Import W-2 and 1099 Forms Into TurboTax and HR Block: From Where?
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.
Stop Tax Return Fraud: Sign Up for the IRS IP PIN Program
The IRS opened the Identity Protection PIN program to everyone. Sign up to stop someone from filing a fraudulent tax return in your name.
2021 $300 Charity Deduction For Non-Itemizers $600 Married
Congress passed a new stimulus bill before the Christmas weekend. Although President Trump wanted to raise the second stimulus check from $600 per person to $2,000 per person, he still signed the bill into law. Unlike the previous stimulus law — the CARES Act — this new law doesn’t have a catchy name. The law […]
CARES Act Charity Donation Deduction: Ongoing or Only 2020?
CARES Act created a new above-the-line tax deduction for those who take the standard deduction. Is it ongoing or is it only for 2020?
CARES Act 2020 Charity Donation Deduction: $300 or $600 for Married?
The IRS Form 1040 instructions clarified the new CARES Act charitable contributions deduction for married filing jointly.
Relocate Out of California to Escape High Taxes After Retirement?
High taxes when you’re working doesn’t mean high taxes when you stop. California may very well be a retiree-friendly low-tax state.
Rollover a 529 Account From One Plan To Another
Rolling over a 529 account from one plan to another is very simple, but first find out whether your state will claw back previous state income tax benefits.
401(a) Plan Contribution Limit
A 401(a) plan allows additional contributions on top of 401(k), 403(b), and 457 plans.