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What does it mean to get audited?

What does it mean to get audited?

The information for this blog article was retrieved from the IRS website: https://www.irs.gov/businesses/small-businesses-self-employed/irs-audits Reasons for an IRS Audit According to the IRS, certain returns are selected for audit because of issues or transactions...

Retirement Plan changes for 2021

Retirement Plan changes for 2021

The SECURES Act, signed December 20, 2019 made a number of major changes, including those that affect retirement plans. Changes to RMD age Your required minimum distribution (RMD) start date for IRAs is the year after the owner turns age 72 (previously it was 70 1/2)....

Ohio 529 Contribution Deductions

Ohio 529 Contribution Deductions

This is going to be part of a series of articles I'm writing on deductions specific to our Ohio taxpayers. As you read this, you may want to pull out your last years' tax returns to see if your tax preparer remembered to claim this (and other deductions) for you. We...