Uncategorized Archives | Rue & Associates

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03
Sep

Settling Tax Issues on a Loved One’s Estate

When a love passes away, there needs to be someone that will handle the resulting tax issues and that is the role of the executor. Their job is to identify the estate’s assets, pay off its debts, and distribute the …

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22
Jul

Avoid These Common IRA Withdrawals & Contribution Errors

Let’s discuss some of the most common IRA contribution errors and how to avoid them. Excess Contributions: For 2019, the total amount you can contribute to all your IRA accounts is $6,000. If you are 50 or older, you can contribute …

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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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