Using IRA Money to Buy a Business Can Be Dangerous
Business owners may need capital to support growth, and the money in their IRA can be tempting. Nevertheless, the pitfalls can be steep, as illustrated in a recent Tax Court case (Thiessen v. Commissioner, 146 T.C. No. 7 [3/29/16]). Here, the court ruled that because...Every Little Bit Counts
Free money for your retirement Many companies offer 401(k) or similar retirement plans to their employees, and an employer match might be available. If that’s the case, you should contribute to the plan at least enough to get the full match. Example 1: Melissa...Campus Tax Credits Can Top Tax Deductions
Besides financial aid, specific tax benefits can reduce the net cost of sending a child to college. Among the three major tax breaks—American Opportunity Tax Credit, Lifetime Learning Credit, tuition and fees deduction—you can claim only one on your tax return....Drawing Down Your Portfolio in Retirement
Retirees often need money from their investment portfolio, if they have little or no earned income. For many seniors, tax- efficient withdrawals require two levels of decisions. First, should the dollars come from regular taxable accounts or from tax-deferred accounts...Awards & Associations
"Thomas Judy & Tucker has long provided us with exemplary service. We can count on them — not to simply meet, but to exceed, our expectations."
- John Kane, Chairman & CEO Kane Realty Corporation