As part of the efforts to contain the COVID-19 outbreak, the elderly, especially those over the age of 80 who are most susceptible the dangers of the virus, have been asked to self-isolate themselves. At the same time, the public has been asked to assist family, friends and neighbors who can’t do their own their […]
On Tuesday, Treasury Secretary Steven Mnuchin announced that the deadline for US taxpayers to pay income taxes for 2019 will be pushed back by 90 days in an effort to soften the financial fallout from the coronavirus outbreak. The reprieve applies for up to $1 million in taxes owed, and would cover many pass-through entities […]
Looking for a quick source of cash? – your retirement savings may look like a tempting option. However, if you are under age 59½ and withdraw money from a traditional IRA or qualified retirement account, you will likely pay both income tax and a 10% early-distribution tax (also referred to as a penalty) on any […]
