Skip to content
Trusted Answers From Licensed Business Professionals
PERSONAL FINANCE, TAX PLANNING

Choosing The Right Executor For Your Estate

By The BIDaWIZ Team on July 12th, 2013 at 1:37 pm

Naming an executor of your estate is one of the more important decisions you'll have to make during your lifetime. Not only will you need to identify the most competent individual to handle your estate when are no longer around, but you'll also need to find someone who is up for the job. .
-or-
Share |
No Comments
TAX ISSUES, TAX REPORTING

The IRS Penalty Waiver That Can Provide Relief To Taxpayers

By The BIDaWIZ Team on July 12th, 2013 at 10:49 am

Over twelve years ago the IRS created the first-time abatement waiver (FTA), yet few taxpayers and businesses that are eligible for it know of the clause. We attempt to solve that problem by explaining who is eligible for the abatement and how to request it. .
-or-
Share |
No Comments
TAX PLANNING

Can I Withdraw From My IRA And 401(k) To Pay For A Down Payment?

By The BIDaWIZ Team on June 25th, 2013 at 2:10 pm

There are many prospective buyers that are gearing up to purchase their first house or a new one after years of renting. There may be times when the buyer doesn't have enough cash to meet the down payment requirements. If this is the case, they may want to consider using some of their retirement savings. Can they do so without incurring a tax penalty? .
-or-
Share |
No Comments
TAX PLANNING

What Does The Bitcoin Craze Mean For Taxpayers?

By The BIDaWIZ Team on May 17th, 2013 at 7:52 pm

By now you’ve likely heard of the new digital currency that businesses are accepting as a form of payment for their products and services. In fact, there were over $500 million worth of transactions processed with bitcoins in April and that number is slated to increase to $750 million in May. As the market continues to grow, find out what should participants and businesses should know about the tax ramifications for such a currency. Read More.

Share |
No Comments
TAX PLANNING

When Will Capital Gains Taxes Rise?

By The BIDaWIZ Team on May 3rd, 2013 at 5:46 pm

Since the Bush-era tax cuts were extended in the first week of the year, the focus has now shifted back to reforming tax policy. Recent developments suggest that capital gains taxes will actually rise in the not so distant future. Read More.

Share |
No Comments
TAX PLANNING

Ways To Limit Exposure To The New Investment Income Surtax

By The BIDaWIZ Team on May 2nd, 2013 at 7:06 pm

By now, most middle to higher income individuals know about the 3.8% investment income surtax. This tax could be limited and in some cases avoided with careful tax planning in 2013. What are you doing to prepare for this tax? .
-or-
Share |
No Comments
TAX ISSUES

Should You Be Worried About The IRS Reading Your Emails?

By The BIDaWIZ Team on April 19th, 2013 at 5:56 pm

The IRS has come under fire of late due to recently released documents made public by the American Civil Liberties Union (ACLU). The documents indicate that the IRS does not need a warrant to access a taxpayer’s electronic communications such as emails and text messages. The IRS has since denied those claims. Should you be worried about the IRS reading your emails? Read More.

Share |
No Comments
TAX PREPARATION

What Should I Do If I Can’t File My Taxes In Time?

By The BIDaWIZ Team on April 11th, 2013 at 10:30 pm

The clock is ticking for taxpayers to get their tax returns filed as the April 15th deadline is upon us. If you're scrambling last minute to try to get your tax return filed, you still have options to ensure that the return is filed correctly and on time. Also, if you're one of the unlucky ones that have yet to receive a long awaited k-1 or 1099 form from the issuer, there are options for you as well. .
-or-
Share |
No Comments
TAX BREAKS, TAX SAVINGS

Are You Missing These Business Tax Deductions On Your Tax Return?

By The BIDaWIZ Team on April 5th, 2013 at 4:00 pm

There’s only a little over a week left until personal and small business tax returns are due. As you’re finalizing your tax return, you may want to consider if you’ve claimed certain business related tax deductions. You could be leaving money on the table. Read More.

Share |
No Comments
TAX PLANNING

What Exactly Are The Penalties For Withdrawing From Your Roth IRA?

By The BIDaWIZ Team on April 5th, 2013 at 4:00 pm

Many taxpayers that have socked away money each year towards their individual retirement accounts (IRAs) know that there are usually penalties and tax liabilities due if you withdraw prior to reaching the age of 59 1/2. However, as it relates to roth IRAs, the 10% early withdrawal penalty doesn't always apply. .
-or-
Share |
No Comments