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Thinking about cashing in your retirement when you change jobs? Think twice! When you leave an employer, it can be tempting to take a lump sum from your 401(k) or retirement plan -- but that decision can come with big tax consequences. The amount you cash out is fully taxable as income in the year you receive it. If you're under age 59 1/2, you'll also face an additional 10% early withdrawal penalty. Instead of cashing out, consider doing a Direct Rollover to an IRA. A rollov

Taxpayers will no longer receive paper refund checks in the mail. Effective Sept. 30, the secretary of the Treasury is no longer going to...

If your teen had earned income from a part-time summer job, they're eligible to contribute to a ROTH IRA. Contributions are made with...

Exciting news from the tax world! The recently passed One Big Beautiful Bill Act (OBBBA) includes a significant change that could save...

Attention Seniors! The One Big Beautiful Bill Act brings exciting news for you: a substantial $6,000 bonus deduction that could...

Attention hard-working Americans: Starting January 1, 2025, thanks to the One Big Beautiful Bill Act, there’s a new, powerful tax benefit...

If you're a teacher, instructor, counselor, principal or aide for grades K-12 and work at least 900 hours during the school year, you can...

Ohio employees may may notice a small increase in your net paycheck in 4th quarter! Ohio is moving toward a flat income tax system under...