In terms of retirement plans, you may have a 401(k), a traditional IRA or a Roth IRA and you make continuing contributions to save for the time your working career ends. However, those contributions and the associated tax consequences change annually. Do you know how...
Adopting a child is a joyous occasion, but for many families, it ends up being an expensive one as well. Private adoptions are much more expensive than adopting through the foster system, but they are what works the best for many families. If you have adopted a child...
There is a multitude of reasons people might fall behind on taxes with poverty being one of the most common. As a result, Pennsylvania put special guidelines in place in 1974 in order to offer tax forgiveness to citizens for whom paying income tax might prove too...
The good news: In 2020, you have until July 15 to file your tax returns. The bad news: Tax laws have changed again and are as complicated as ever. More good news: Some changes may save you and your family money. More bad news: First, you have to understand them....
Taxes are an inescapable part of life. For most people, filing taxes represents a minor inconvenience on a yearly basis. However, conflicts with the Internal Revenue Service may arise. These may be more likely if you have a complicated financial situation, such as...
Classifying your workers correctly is essential because of taxes. If you choose the wrong classification, it can have serious financial repercussions on your Pennsylvania business. You have two general options: employee or independent contractor. The IRS has specific...
So much of the estate planning process in Pittsburgh focuses on the distribution of your individual wealth; little attention is often paid toward potential liabilities that may come with the distribution of your assets (such as taxes). Perhaps this is because you...
Winning a court case and getting a settlement in Pennsylvania is a victory, but you may want to wait before celebrating. The reality is that this money may not all be yours to do with as you please. You may owe the government a nice chunk in taxes. There are specific...
It may be too late for many Pennsylvania taxpayers to make a difference in their taxes for 2017, but this is the perfect time to prepare for next tax season. In light of the many new tax rules the federal government enacted last year, many are seeking advice...
It seems that very few windfalls come without strings attached. Those in Pennsylvania hoping to win the Mega Millions Jackpot or any other substantial lottery prize would be wise to take heed of this. Just like any payday, the winner of this massive prize will have to...
