You’re constantly being reminded to save for retirement in tax-advantaged accounts like 401(k)s or IRAs. But did you know that you’ll be compelled to take money out of some types of accounts once you reach a certain age? Such distributions are called Required Minimum Distributions (RMDs). Start …
Received A Letter from the IRS? These are Your Next Steps.
If you receive a notice from the IRS, do not automatically assume it is correct and submit payment to make it go away. Because of the many recent tax law changes and so little time to implement the changes, the IRS can be wrong more often than you think. These IRS letters, called correspondent …
Don’t Overlook Renters Insurance
Do you rent an apartment or condo? If so, do you have renters insurance to protect your belongings and to cover you against liability claims? A surprising number of renters don’t bother with insurance. Some assume they are covered by their landlord’s policy. Wrong! Your landlord’s policy usually …
