• IRS PAYMENT OPTIONS-ELECTRONIC

    Click here for IRS Electronic Payment Options (goes directly to IRS website) […]Read More… from IRS PAYMENT OPTIONS-ELECTRONIC

  • Full Retirement Age FRE re:Social Security benefits

    Year of Birth* Full Retirement Age 1937 or earlier 65 1938 65 and 2 months 1939 65 and 4 months 1940 65 and 6 months 1941 65 and 8 months 1942 65 and 10 months 1943–1954 66 1955 66 and 2 months 1956 66 and 4 months 1957 66 and 6 months 1958 66 and 8 months 1959 66…

  • 2013 Sub S Corp potential new form

    2013 Sub Chapter S corporations owned by an estate, trust or disregarded entity (i.e. sole member LLC) must attach Schedule B-1. The new Form B-1 lists the name and tax ID of the shareholder.  This helps IRS monitor tax cheats and check for Sub S potential terminations due to ineligible ownership. […]Read More… from 2013…

  • Required Minimum Distributions RMD

    HEIR HAZARDS when INHERITING an IRA RMD (Required Minimum Distribtutions) are required when the owner turns 70 1/2 years old. NON-SPOUSE beneficiaries can ‘stretch’ the regular inherited IRA over their own life expentancy but must start the RMD the year following the death of the owner. While ROTH IRA owners never are required to distribute RMD, NON-SPOUSE beneficiaries must.  Those withdrawls are…

  • 2014 Estate & Gift Tax Exemption

    2014 Estate & Gift Tax Exemption is based on $5,340,000. 2013 amount was $5,250,000. […]Read More… from 2014 Estate & Gift Tax Exemption

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