Unfortunately, the answer is no. There is no age at which you become exempt from paying income or Social Security taxes in the United States. Your tax obligation is determined solely by your income, not your age. The Internal Revenue Service (IRS) and Wisconsin have income thresholds that dictate whether or not you must file…
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Educator Expense Deduction helps teachers cut classroom costs
Who is an eligible educator Teachers often buy classroom supplies with their own money. The Educator Expense Deduction helps them get some of that money back. Eligible teachers and administrators can deduct part of the cost of technology, supplies and training from their taxes. They can claim this deduction only for expenses that weren't reimbursed…
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Launching Your Business for Success: Start Right, Avoid Costly Mistakes!
Tom Keuler, CPA, with over 30 years of expertise, will help navigate your business from a start up to a financial success. His expert guidance ensures error-free financial decisions, safeguarding against government penalties and interest charges. Your first appointment won't cost you anything, and there's no pressure to commit to anything afterward. To provide you…
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I am so confused when must I take money from my IRA?
I hear numbers like 70 ½, 72, 73, and 75. When Must I Take Money from My IRA? The Confusion Unveiled! Short answer is 73. However, starting IRA distributions earlier could be wiser to pay less taxes to Uncle Sam! 70 ½ was the rule for almost 50 years (1986 -2019). So anyone that was…
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