Financial Planning

Can I Claim SIMPLE IRA Contributions on My Taxes?

Can I Claim SIMPLE IRA Contributions on My Taxes?

The Internal Revenue Service (IRS) offers an individual retirement arrangement (IRA) known as the Savings Incentive Match Plan for Employees (SIMPLE IRA). This type of ...

Tax Deduction for Contributing to Grandchildren's College Education Fund

Tax Deduction for Contributing to Grandchildren's College Education Fund

Grandparents can be valuable financial resources for students who have college plans but encounter difficulty coming up with the money to pay for higher education. While most ...

Can an IRA Distribution Be Put Back?

Can an IRA Distribution Be Put Back?

Typically, after you've removed money from your individual retirement account, you cannot put the money back in. However, if you act fast enough, you may make the cutoff for ...

Can I Withdraw From My IRA When It Matures With No Penalty?

Can I Withdraw From My IRA When It Matures With No Penalty?

IRA accounts themselves do not "mature," however, investments within your IRA may have maturity dates. Generally, this would be CDs or bonds. Both of these investments ...

Can an Employer Hold Onto My 401(k) for a Year?

Can an Employer Hold Onto My 401(k) for a Year?

One of the advantages to having a 401(k) plan through your employer for your retirement savings is that your employer can make tax-deferred contributions on your behalf. However, ...

Can I Claim a Hardship on Early Withdrawals From an IRA?

Can I Claim a Hardship on Early Withdrawals From an IRA?

One reality of life is that unexpected financial difficulties can happen to anyone. The Internal Revenue Service discourages people from taking money out of IRAs early but does ...

How to Get an Employer's Tax ID Number

How to Get an Employer's Tax ID Number

If you are thinking about starting your own business, you will need to get an employer's tax ID number, which is also called an Employer's Identification Number (EIN). An EIN is a ...

How Can I E-File My Pennsylvania State Taxes for Free?

How Can I E-File My Pennsylvania State Taxes for Free?

No one likes to pay taxes, but the ability to e-file your state tax return for free takes at least a little bit of the sting out of tax season. If you live or work in the ...

Can I Claim My 401(k) Payments on Taxes?

Can I Claim My 401(k) Payments on Taxes?

Technically, you do not make payments into your 401k plan when you make contributions. Instead, you defer compensation into the plan because it is a tax-deferred account. Though ...

Can an IRA Go Into an Irrevocable Trust?

Can an IRA Go Into an Irrevocable Trust?

Using a trust as the designated beneficiary of an individual retirement account is permissible and, given the proper use of the trust, even desirable. An irrevocable trust can be ...

How to Find the Best Tax Relief Companies

How to Find the Best Tax Relief Companies

If you owe a lot of money to the IRS, chances are you are looking for a way to reduce the amount you owe and pay your debt. There are a number of companies out there promising to ...

How to get a 25 Percent Discount on Online Turbo Tax

How to get a 25 Percent Discount on Online Turbo Tax

Tax filing is fun with Turbo Tax. I have always used this software to file my taxes. It gives you numerous deductions. I usually go for 'Deluxe' edition or 'Premium' editions. ...

What Is a Continuous Customs Surety Bond?

What Is a Continuous Customs Surety Bond?

Customs surety bonds guarantee payment of duties to the federal government on goods brought into the United States. Bonds remain in effect one year after delivery of goods or ...

What Is the Best Type of Saving Bonds to Get?

What Is the Best Type of Saving Bonds to Get?

U.S. savings bonds are a good choice for setting up a long term investment plan with modest amounts of money. Purchase savings bond with as little as $25. The bonds are very safe ...

Can an Annuity Be Owned by a Business?

Can an Annuity Be Owned by a Business?

Annuities are one way to provide retirement income, defer taxes and provide reliable payments for the rest of the owner's life. An annuity combines elements of an investment and ...

401(k) Savings Formula for Excel

401(k) Savings Formula for Excel

The 401(k) is the primary retirement savings vehicle for many Americans and is a tax-deferred method to put money aside for the future. Individual results from 401(k) investing ...

Can You Deduct Stolen Property on Your Income Taxes?

Can You Deduct Stolen Property on Your Income Taxes?

The Internal Revenue Code contains a deduction for losses due to your property being stolen during the year. Though the thresholds for claiming a loss are high, if you've been the ...