Author: Karen Sullivan

IRA RMD Age Increased to 73 The Internal Revenue Service (IRS) does not wish to have individuals pass large amounts in individual retirement accounts (IRA) to their children. Due to this, the IRS stated that if an individual has an IRA, they will be required to make a required minimum distribution (RMD) once they reach…

The Benefits of the Pass-Through Entity Tax When looking at a C Corporation, the business pays its own federal and state taxes. Because of this, the C Corporation can deduct on its federal return all the state tax expenses it pays. Pass-through entities that are being taxed as an S Corporation or Partnership, generally do…