Uncategorized Archives | Rue & Associates

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15
Jul

HSA Provides A Nice Tax Break

The idea behind HSAs was simple. Give workers generous tax breaks to put aside money to help pay for their health care. That in turn would make it easier for employers to offer those employees high-deductible health plans. The high-deductible …

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08
Jul

The Best Way to Save Money

If you’re not good at saving, it’s not your fault. In fact, the Federal Reserve says 40% of Americans don’t even have $400 to cover an emergency expense. The good news is that there’s a simple way to win this fight: …

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28
Jun

New Variations on Long Running Tax Scams

The IRS specifically warning about two new variations on existing, long-running tax-related scams. One of the scams tries to gather personally identifiable information related to Social Security numbers (SSN), while another threatens people with a fake tax bill. In what …

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24
Jun

Examining the Changes in Retirement

Here are eight major aspects worth examining from the SECURE Act: 1. Increase Small Employer Access to Retirement Plans This will essentially allow small employers to come together to set up and offer 401(k) plans with less fiduciary liability concern …

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14
Jun

IRS Released New Draft Form W-4

After pushback from taxpayers and tax professionals, the Internal Revenue Service (IRS) promised to revisit form W-4, Employee’s Withholding Allowance Certificate. The IRS issued a statement confirming that “the Treasury Department and the IRS will incorporate important changes into a new …

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12
Jun

3 Ways to Boost your 401(k) Savings

You could easily shop for bargain-basement fees in your individual retirement account (IRA) or small-company plan. There’s plenty of competition and it is hard not to save. Here are three easy ways to save: 1) Invest in Low-Cost Index Funds. They …

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10
Jun

Think Twice About Deferring Taxable Income Past 2020

Taking steps to defer your current individual federal income-tax bill is often a good idea, However, in today’s federal income tax environment, you could potentially have “too much” deferral. Here are the two biggest reasons why that could happen. Future …

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07
Jun

IRS Puts a 100% Penalty for Company Taxes

For anyone with employees, paying employment taxes is inevitable. The taxes are withheld from wages and are supposed to be promptly paid to the government. This is trust fund money that belongs to the government. You never want to become delinquent in paying taxes, especially employment …

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29
May

Tax Breaks for Parents

First, you can claim any child as a dependent who is younger than 19 or 24 if he or she is a full-time student or disabled. If you’re separated or divorced, only one parent can claim each child. When filing …

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17
May

The Break Down on Audits

The purpose of the audit is to determine that the tax return is substantially correct. At the end of the audit, one of three things are going to happen. Either you will owe the government money, the government will owe …

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