Monthly Archives: March 2016

Count the ways you can fund your myRA

A myRA (“my Retirement Account”) is a simplified Roth IRA that belongs entirely to you. Roth annual contribution limits apply to these retirement accounts and your funds are invested in government-guaranteed Treasury securities. You can choose to contribute to your account from your paycheck by completing a direct deposit authorization form and giving it to your employer. In addition, the… (more…)

Get credit for retirement contributions

Did you make contributions to a traditional or Roth IRA, a myRA, or a SEP or SIMPLE plan in 2015? You may qualify for the Retirement Savings Contributions Credit, more popularly known as the “saver’s” credit. If you’re eligible, you can apply this federal income tax credit against the tax you owe on your 2015 return. The credit is available… (more…)

One more extension for estate executors

A law passed last summer added a new task for estate executors and others who file estate tax returns after July 31, 2015: providing a statement of the value of estate assets to beneficiaries and the IRS. The statement is designed to ensure consistency between the value of the property for estate tax purposes and the basis a beneficiary reports… (more…)

Will this IRS due date extension hold up your tax return?

In December, the IRS extended the time to file for employers who were required to provide health care information forms such as Form 1095-C to employees. Because the new due date is March 31, you may be ready to file your federal income tax return before you receive Form 1095-C. The IRS says that for 2015, you do not need… (more…)

Do younger workers value your company’s benefits?

You may consider the fringe benefits your company provides to employees to be a valuable recruiting and retention tool. But recent studies indicate that younger workers – those born after 1980 – may not agree. The studies show that these workers prefer paid time off or cash to more traditional benefits. In addition, they may not be as aware of… (more…)