Archives

Monthly Archive for: ‘August, 2021’

  • Tax Form 2

    IRS Struggles to Process Tax Returns This Year

    The Internal Revenue Service has released a midyear report to Congress that details a significant backlog of tax returns dating back to the end of tax filing season, and many of those returns have yet to be processed. While backlogs are not unusual, this year’s …

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  • Tax Form Pic

    What Is A Back-Door Roth IRA?

    Many individuals who are saving for retirement favor Roth IRAs over traditional IRAs because the former allows for both accumulation of account earnings and post-retirement distributions to be tax-free. In comparison, contributions to traditional IRAs may be deductible, earnings are tax-deferred, and distributions are generally …

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  • Tax Form Pic

    Things to Consider When Refinancing Your Home Mortgage

    With home mortgage rates at historic lows, it may be appropriate for you to consider refinancing your current mortgage. However, refinancing may not always be the greatest idea, even though mortgage rates are low, and even when your friends, relatives, and coworkers are bragging about …

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  • Tax Form Pic

    Pros and Cons of a 401(k) Profit-Sharing Plan

    If you are an employer looking for an attractive employee benefit that lets you plan contributions around your revenues, consider a 401(K) profit-sharing plan. These plans allow you to make pre-tax deposits to your employees’ eligible retirement accounts after the end of each calendar year, …

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