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Penalties on Early Retirement Plan Distributions Explained

When money gets tight, it can be tempting to tap into a retirement account. While it can seem like an easy, painless way to pay off some bills, it can be very expensive come tax time. A quick fix can become a painful burden.

Once Is Not Enough: Why to Contact Your Tax Pro After April 15

Have you visited your doctor for your annual physical? Do you visit your dentist every six months? To stay healthy, you must monitor your health and be aware of any changes. Your financial health is as important as your physical health and needs to be monitored in the same way. Although you see your licensed tax professional each year, you may need to have another meeting or checkup during the off-season. Your tax professional can keep you on the right track, but only if he or she has the information to know what is going on.