It is fairly common that after retirement, some individuals continue to work or have different streams of income that cover their living expenses outside of their retirement plan accounts. This causes them to have the option not to deduct funds from their retirement plans. However, you cannot leave money in your retirement accounts indefinitely. You must remove your funds at intervals.

Taxes have a reputation of being a difficult season to conquer. Whether you are an individual taxpayer or a small business owner, tax planning can be understandably stressful. However, with the correct information and tools, tax season could be a more smooth experience.

Anyone who has found themselves or their business presented with a penalty after filing, can attest to the fact that it is not the best place to be financially. Tax debt can place a significant dent in finances, ruin your credit score, and even negatively affect your professional and personal relationships.

However, what most people are not aware of, is that there is an option to have their tax debt forgiven by the IRS - if they qualify.

There are many misconceptions of what an IRS audit involves. If asked what an IRS audit is, most taxpayers and even business owners may describe dramatic scenes of an office raid by IRS personnel. In reality, it is quite rare that the IRS will conduct an in-person audit.

Every business goes through seasons. Whether you launched your business in 2022 or are a seasoned entrepreneur, the ebbs and flows of business keep us all on our toes and sharp as we change with the times.

One season that has every business owner burning the midnight oil is the end of the year. Aside from the holiday activities, business owners and their accountants have a long list of duties that need to be accomplished to make for a successful upcoming year and optimized tax return.

It is fairly common that after retirement, some individuals continue to work or have different streams of income that cover their living expenses outside of their retirement plan accounts. This causes them to have the option not to deduct funds from their retirement plans. However, you cannot leave money in your retirement accounts indefinitely. You must remove your funds at intervals.