Does Your 401K Or IRA Need To Be Rescued

Because of the accumulation benefits of tax deferral, many individuals have successfully created substantial IRA or 401K accounts or other qualified plans.   It is not uncommon for these accounts to have amassed seven figures of total dollars. It is also usually the case that little attention has been focused on what will happen to [...]

By |2020-04-14T18:18:20+00:00October 7th, 2019|Taxes|

Advantages of the 1035 Exchange IRS Code

A 1035 Exchange is the exchange of one insurance policy for a newer policy with no tax consequences. It offers an investor the opportunity to exchange an old, outdated insurance contract for a newer contract that offers beneficial features the investor now wishes to include. For example, a policy owner might choose a contract with lower costs, a higher death benefit, the drawing of monthly installments or different investment options.

By |2020-04-13T18:10:10+00:00March 13th, 2019|Taxes|

3 Overlooked Tax Reductions That Will Shock You

Make sure you do not forget these tax deductions   There are the standard tax reductions every taxpayer knows about, but there are three others few realize that they can deduct to reduce their taxes. Plus a bonus! Volunteer work donations Many American volunteer their time and services to nonprofit organizations instead of making financial [...]

By |2020-04-13T17:54:50+00:00April 3rd, 2017|Taxes|

Beware Tax Scams

Tax Scams: IRS Dirty Dozen It is tax time and with it will come many offers to lower your taxes and in some situations to avoid them altogether. These helpful hints may be grouped together under one heading: Scams. Tax scams are prevalent throughout the internet, here are a few that are so obvious that to [...]

By |2020-04-13T19:08:20+00:00March 1st, 2016|Taxes|