Tax season is upon us and as you pull your information together please review this article for tips on things that will put more scrutiny on your return and raise your chances of an audit. To begin with your odds of being audited in general are 1 in 199. If you make over $200,000 that number drops to 1 in 38 and if you are over $1…
CONTINUE READING >This Wall Street article points out that starting in 2017 the oldest Baby Boomers have to start taking mandatory withdrawals from their retirement accounts. Retirees have to take the annual minimum distribution or face a 50% penalty on any funds they do not take out that year. Many of these retirees will be paying more taxes on this additional income and may want to reinvest these…
CONTINUE READING >This is a great article that lays out the options available to all of us regarding Social Security benefits. I read the article and found the answers for our family. My wife worked part-time for many years and we wanted to know the best strategy for her collecting social security in a couple of years. For us the best strategy will be for her to claim…
CONTINUE READING >If that is what you are thinking you better read on. You can move but may still be considered a Minnesota resident. Better read the fine print in the fact sheet provided by the State of MN with 26 factors to determine your residency along with the newspaper article that ran back in 2014. The paper has horror stories of people that moved out of state to find…
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