An Overview of the Basic Tax Schedules

A tax schedule is a form that the IRS requires with your income tax return if you have certain types of income or deductions. While the Form 1040 is the main body of your return, the schedules provide useful and necessary information for your complete  taxable picture. Let's take a look at the most common… Continue reading An Overview of the Basic Tax Schedules

Withdrawing from a 401(k) before 59 ½

When facing an unexpected cash crunch, most people look to their retirement accounts for help. It can be tempting, but if you’re under the golden age of 59 ½, there are some things you’ll need to consider. Most early distributions come at a cost - the IRS levies a 10% penalty in addition to the… Continue reading Withdrawing from a 401(k) before 59 ½