Failure-to-file Penalties: It is always best to file your yearly income tax returns when they are due in order to avoid failure-to-file penalties. Even if you can’t afford to pay what you owe, you generally want to file on time.…

RMD’s To Charity Strategy Is A Great Idea: This is an effective strategy for donating to 501(c)(3) charities directly from your retirement account. https://money.usnews.com/money/retirement/iras/articles/2017-12-04/how-to-donate-your-required-minimum-distribution-to-charity  

Quarterly Estimated Tax Payments For Self-Employed Individuals: Taxpayers who are self-employed should send in estimated quarterly tax payments to the IRS (and state, if applicable) to avoid owing a significant amount of taxes when filing by April 15th.  Here are…

Tax Withholdings For Pension and Taxable Annuity Distributions (Form 1099-R): It’s generally not a good idea to take distributions from a taxable retirement plan – like a 401(K) – and not have an appropriate amount of federal and state income…

Payroll Tax Withholdings For W2-Based Wage Earners: If you’re a wage earner on a W2 with no other complicating tax circumstances on your federal individual tax return, the reason you may owe a significant amount of taxes at tax filing…