You can't do that. The Beatles sang the song and the US congress wrote the law: certain transactions are prohibited when you own an individual retirement account.
... Read This PostAuthor: LCarpenter
Definition — Identifying the employer
What's your number? If you're required to file certain business tax returns, the answer is an employer identification number, or EIN.
... Read This PostDefinition — Penalizing the preparer
According to the Return Preparer Office of the IRS, as of March 1, 2018, 728,049 individuals had current preparer tax identification numbers.
... Read This PostDefinition — Virtually taxable
If you want to know the value of money, both real and virtual, you can try to borrow some. Or, in the case of digital currency, you could ask the Internal Revenue Service.
... Read This PostDecisions — Timing is everything
The time may never be just right, but there is a right time for everything, including reporting income.
... Read This PostDecisions — Equally taxing
Hypothetically speaking, what are the odds you have income when your employer pays for your tax return preparation?
... Read This Post
Decisions — Desperately seeking symmetry
Symmetry is appealing in architecture, math, physics, poetry, music, art, nature, and tax law.
... Read This Post
Decisions — Guarding the deductions
Ah, the life of a bodyguard. Long boring hours. Annoying clients. Moments of sheer terror. And tax deductions.
... Read This Post