Online Article
The way you calculate your required minimum distribution just changed, and if you don’t need the money for living expenses, that could be good news for you. Here’s why.
Online Article
A taxpayer can overcome the presumption that all rental activities are passive if the taxpayer qualifies as a real estate professional by satisfying the two quantitative tests of Sec. 469(c)(7)(B):
Online Article
If you do an online search for the new RMD (Required Minimum Distribution) tables to use to calculate your 2022 RMD, you might find yourself running in circles. Where, just where, are those 2022 tables? The online searches I tried today take you to the old tables, even if you specifically search for 2022 RMD tables.
So, be careful. Don’t assume the tables you are finding online are for 2022.
Online Article
There's a reason so many people find the idea of filing taxes stressful. Not only does it require you to sort through documentation, but it also opens the door to having your return audited.
But should tax audit fears keep you awake at night? Here's why you shouldn't sweat it.
Online Article
For the first time in 20 years, the Internal Revenue Service has updated its actuarial tables that dictate how much a person is required to withdraw from his or her retirement accounts starting at age 72. The new tables, which now project longer lifespans, are used to calculate RMDs from individual retirement accounts, 401(k)s and other retirement savings vehicles each year. For help with planning out RMDs and meeting your retirement income needs, consider working with a financial advisor.
Online Article
More than half of U.S. households paid no federal income taxes in 2021, a temporary spike attributed to massive COVID-19 relief spending in the form of tax credits and stimulus payments.
Online Article
In a report to the California Legislature, the State Auditor’s Office said that regulators had approved "[seriously] deficient" plans, including from the Pacific Gas and Electric (PG&E).
Online Article
On the road to transitioning to net-zero carbon emissions by 2045, California set a new record earlier this month when its power grid briefly ran on 97% renewable energy.
Online Article
American rooftop solar power is growing at a stunning rate, a new study finds, with solar capacity increasing 19% in 2021.
The United States now has 121.4 gigawatts of solar photovoltaic capacity, enough to power 23 million homes, up from just 0.34 gigawatts in 2008, according to the Department of Energy.
