How to Take a Qualified Charitable Distribution (QCD) from Your IRA
Todd Schanel
Would you like to help your favorite not-for-profit organization and save taxes at the same time? The Qualified Charitable Distribution rules allow taxpayers to make IRA distributions of up to...
2017 Contribution Limits for Retirement Accounts
Todd Schanel
Annual contribution limits for retirement savings accounts for 2016 and 2017, as established by the IRS, are listed below.  Please keep in mind that contributions to Traditional IRAs, Roth IRAs,...
Reimbursing an Employee for Individual Health Insurance Could Result in Big Fines
Todd Schanel
Since 1961, an employer was permitted to reimburse an employee for some or all of the premium expenses incurred for an employee’s individual health insurance plan, and exclude that payment...
Taxation of Inherited Annuities
Todd Schanel
Annuities are complicated products that often cause much confusion for annuity owners, let alone their beneficiaries.  There can be significant tax consequences associated with the inheritance of an annuity held...
Tips for Avoiding IRS Penalties
Todd Schanel
$37,461.22.  That is the dollar amount our team at Schanel & Associates has saved taxpayers this year in IRS penalties through penalty abatement requests.  While we were happy to help...
IRS Warns of Increasingly Aggressive Scam Artists
Todd Schanel
The IRS recently issued a bulletin warning taxpayers to be on the lookout for scam artists impersonating the IRS.  These scammers have been resorting to increasingly aggressive scare tactics, such as threatening...
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