Simplified Employee Pension

That First RMD from Your IRA

What you need to know.    When you reach age 70½, the Internal Revenue Service instructs you to start making withdrawals from your traditional IRA(s). These withdrawals are also called Required Minimum Distributions (RMDs). You will make them, annually, from now on.1 If you fail to take your annual RMD or take out less than [...]

How 1099 Workers Can Prepare for Tax Season

The little things independent contractors should do before April. Do you freelance or run a business on the side? You have a complicated tax situation, all stemming from one fact – when you earn a paycheck, taxes are not immediately taken out of it.  Many freelancers are caught off-guard when tax season arrives. They are [...]