Category: FAQ

Can I have both a 401k and an IRA?

jeff | November 25, 2016

Yes, you can have both a 401k and an individual retirement account (IRA) at the same time. In fact, it is quite common to have both types of

FAQ

How will quitting my job affect my 401k?

jeff | November 25, 2016

FAQ: How will quitting my job affect my 401k? Answer: Leaving your job isn’t the only decision you need to make, you also need to decide what to do

FAQ

How long do I need to keep income tax records?

jeff | November 25, 2016

The rule of thumb is that you should keep all tax-related documents for at least three years.

FAQ

What are qualified dividends?

jeff | November 25, 2016

Most dividends paid by corporations, mutual funds or index funds are considered ordinary dividends, but some may be considered qualified dividends.

FAQ

What is passive income?

jeff | November 25, 2016

Answer: According to the IRS, passive income can only be generated by rental activity or by a business in which you have a financial interest but do not

FAQ

What Are Dividends?

jeff | November 25, 2016

Answer: Dividends are the way publicly traded companies redistribute profits to shareholders as a reward for their investment.

FAQ

Are dividends considered passive income or ordinary income?

jeff | November 24, 2016

Are dividends considered passive income or ordinary income? Learn here what the Internal Revenue Service considers dividends.

FAQ

Should I max out my 401k?

jeff | May 4, 2016

For many of us, just getting a few hundred bucks into our 401k each month is considered a big win. But the truth is you can contribute quite

FAQ

FAQ: Can I receive a tax refund if I am in a payment plan for a prior year’s federal taxes?

jeff | April 9, 2016

Question: Can I receive a tax refund if I am currently making payments under an installment agreement or payment plan for a prior year’s federal taxes? Answer: According

FAQ

FAQ: Can I claim my own personal exemption if my parents claim me on their taxes?

jeff | April 9, 2016

Question: Can I claim my own personal exemption if my parents already claim me on their taxes? Answer: No. According to the IRS, if your parents already claim

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