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Stay Up-To-Date on the Latest Tax and Accounting News, Important Deadlines & More.

11 Exceptions to the 10% penalty tax on early IRA withdrawals

If you’re facing a serious cash shortfall, one possible solution is to take an early withdrawal from your traditional IRA. That means one before you’ve ...
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Take action now to reduce your 2023 income tax bill

A number of factors are making 2023 a confounding tax planning year for many people. They include turbulent markets, stabilizing but still high interest rates ...
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The 2024 cost-of-living adjustment numbers have been released: How do they affect your year-end tax planning?

The IRS recently issued its 2024 cost-of-living adjustments for more than 60 tax provisions. With inflation moderating slightly this year over last, many amounts will ...
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Is your business subject to the new BOI reporting rules?

The Corporate Transparency Act (CTA) was signed into law to fight crimes commonly associated with illegal business activities such as terrorist financing and money laundering. ...
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The Social Security wage base for employees and self-employed people is increasing in 2024

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for ...
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Are scholarships tax-free or taxable?

With the rising cost of college, many families are in search of scholarships to help pay the bills. If your child is awarded a scholarship, ...
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