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Tag: diy

Home Posts Tagged "diy"

Tax Series Part 3: What to do if you owe money to the IRS

March 20, 2019No Commentscpa, diy, ira, Law, mistakes, tax, TaxesChristopher Hudson

The best way to explain these concepts is by asking some of the questions my clients ask me:

What do you get when you put the words “THE” and “IRS” together. THEIRS. They will get THEIRS one way or another, but you do have a say in the matter, even when you owe them. Here is a primer. (more…)

Tax Series Part 2: Demystifying the Tax Benefits of IRA’s and ROTH IRA’s

March 10, 2019No Commentscpa, diy, ira, Law, mistakes, tax, TaxesChristopher Hudson

The best way to explain these concepts is by asking some of the questions my clients ask me:

What is an IRA?

IRA stands for Individual Retirement Account, and it was created by sweeping pension reform act called ERISA in 1974. It is an account that can be designated to receive funds that accumulate tax-deferred growth. The original IRA concept, now known as a Traditional IRA, allows a taxpayer that qualifies to take a tax deduction up to a certain amount (currently $5500) with the understanding that it will not be touched until age 59 ½, after which distributions may be taken and they are included in income. (more…)

Tax Series Part 1: Why You Should NOT Do Your Own Taxes!

March 1, 2019No Commentscpa, diy, ira, Law, mistakes, tax, TaxesChristopher Hudson

We have all heard the phrase on TV crime dramas: “He who represents himself in court has a fool for a client”. This concept applies equally to your taxes. Which leads me to my plumbing project. If you think there is no connection between my plumbing and your taxes, think again. (more…)

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