IRS

IRS, Taxes and Domestic Abuse

IRS, taxes and domestic abuse are not topics you would normally think being related to each other in any way; however, this blog is intended to show that when it comes to domestic abuse, the taxpayer who has been subjected to such abuse, has rights that can assist and protect them  from their spouse (or former spouse).  As you might imagine…read more →

What Can You Do With Your SIMPLE IRA?

What Can You Do With Your SIMPLE IRA?

The poor ole neglected SIMPLE IRA.  Many haven’t heard of it, fewer probably have one.  The SIMPLE IRA (Savings Incentive Match Plan for Employees) is associated with an employer plan, an alternative option to a company-sponsored 401(k) plan.  This post is not to promote the use of a SIMPLE IRA, as most SIMPLE’s would not be self-directed (but, they can…read more →

Watch Out for Scams to Collect IRS Taxes Owed

Watch Out for Scams to Collect IRS Taxes Owed

Watch out for scams to collect IRS taxes owed as the bad guys are getting better and better at doing bad things, and the IRS is trying its best to keep up with them.  Over the last few years, the IRS has implemented tools to help fight the problem but, as with any criminal endeavor, the crooks see $$ and…read more →

Required Minimum Distribution from Your IRA

IRS rules dictate a required minimum distribution from your IRA when you have reached 70 1/2 years of age.  Most people who meet the requirement for minimum distributions are aware of this rule, but it is always good to have a refresher, especially as some of these rules can start becoming a little confusing. What I have found to be…read more →

IRS — Protecting and Validating Your Identifty

I know this is nothing related to self-directed IRA or self-administered 401(k) plans. These plans assist an investor in investing their retirement assets into assets permitted by IRS rules, but not offered by your typical brokerage firm. However, sometimes you come across nuggets of information that are useful and is valuable (hopefully) to “throw out” there. For those of us…read more →

Self-Directed IRAs — Year End “Things to Do”

We all have busy schedules….especially going into the end of the year and holiday season.  In that “spirit”,I am certainly not going take up too much of your valuable time. But, as an IRA account owner who has a self-directed IRA or self-directed IRA LLC, there are some end of the year steps you may want (and need) to take….read more →

IRS’ Dirty Dozen Tax Scams — “Phishing”

I would have probably done a blog on this topic anyways, but being a recent recipient of a “phishing” scheme, this topic now meant something more to me.  I have never been accused of being the sharpest tool in the shed, but I am also aware of some of these schemes and, even when I received the phishing call….I gotta…read more →

IRS’ Dirty Dozen — Tax Preparer Fraud?

We all know that in today’s society, anything that you wouldn’t think should happen does happen. Let’s add one to the list of things that shouldn’t happen but, unfortunately does.  In fact, this concern is so frequent, the IRS has actually added it as part of their annual IRS Dirty Dozen list which warns taxpayers of the top tax scams for the…read more →

Missing W-2 or 1099-MISC?

Okay, this can be a misleading title for a blog for some…but bear with me.  If you are a self-employed individual established as an incorporated entity, your business in providing you payroll income and, as such, you would receive a W-2 on your year-end income for tax reporting.  As such, you would correctly conclude that you shouldn’t have a missing…read more →