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Tax Planning for Mutual Funds If you have ever had to go back and find mutual fund records from several years in the past, you know how painful that process can be. You may have been forced to search through several years of mutual fund and broker's statements or confirmations looking for mutual fund transaction information in order to have your tax return prepared.
Roth IRA Option for 401(k) Accounts The 2001 Tax Act contained a provision allowing elective deferrals (contributions) to Section 401(k) plans to be placed in a Roth IRA beginning in 2006. Congress felt the tax-favored savings choices that some individuals prefer, such as Roth IRAs, should be available to 401(k) participants.
Business and Investment Expense Documentation Even though there may be no question as to the deductibility of a business or investment expense, it may be disallowed by the IRS for lack of supporting documentation.