Mike's weekly post usually concentrated on tax saving strategies.
You may be approaching an important deadline if you have retirement accounts and you turned 70½ last year. Generally, you must begin withdrawing money from tax-favored retirement plans in the year you turn 70½. However, you may postpone your first withdrawal until April 1 of the year after you turn 70½. That means you have until April 1, 2015, to complete your required 2014 distribution.
Each year the IRS announces a dozen tax scams they call the “dirty dozen”. One of them - telephone scams - is on a huge upswing RIGHT NOW. Here is what you need to know.
No paperwork means no deduction
Did you give contributions to qualified charities during 2014? Be sure to get a receipt.
March Tips...
TIPS for the Month
If you paid a household worker $1,900 or more in 2014, you may have payroll tax obligations.
The IRS is again warning taxpayers not to fall for tax scams which proliferate during tax season.
