21. Aug
You May Need to Make Estimated Tax Payments If…
You may have to make estimated tax payments if you earn income that is not subject to withholding, such as income from self-employment, interest, dividends, alimony, rent, realized investment gains, prizes, and awards. You also may have to pay estimated taxes if your income tax withholding on salary, pension, or other income is not enough, …
21. Jul
The Cost of Procrastination
Some of us share a common experience. You’re driving along when a police cruiser pulls up behind you with its lights flashing. You pull over, the officer gets out, and your heart drops. “Are you aware the registration on your car has expired?” You’ve experienced one of the costs of procrastination. Procrastination can cause missed …
21. Jun
What If You Get Audited?
“Audit” is a word that can strike fear into the hearts of taxpayers. However, the chances of an Internal Revenue Service audit aren’t that high. In 2016, the IRS audited 0.7% of all individual tax returns.¹ And being audited does not necessarily imply that the IRS suspects wrongdoing. The IRS says an audit is just …
21. May
Term vs. Permanent Life Insurance
The adequacy of life insurance coverage in the U.S. is shrinking, according to LIMRA, which keeps close tabs on the industry. In 2010, households had enough coverage, on average, to replace 3.5 years of income. Today they have enough to replace only 3 years' income. Furthermore, 4 in 10 households with children under age 18 …