Fulenchek CPA

IRS provides cafeteria plan relief for the pandemic The Internal Revenue Service has issued guidance on how employers can amend health flexible spending arrangements and dependent care assistance programs to respond to the coronavirus pandemic. The IRS expects many employees to have unused health FSA amounts or dependent care assistance program amoun...

Understanding Social Security spousal benefits This article explains how Social Security spousal benefits work and how they are affected when people file for benefits before their full retirement age.

A guide to state taxes for retirees Many retirees relocate, but they should consider state and local taxes before deciding where to live. Here is a guide to how the 50 states and Washington, D.C., tax retirees' income.

Kiplinger also has a great tax newsletter I get and read twice a month that I would recommend.

A guide to taxes on common sources of retirement income The federal government taxes many sources of retirement income, and depending on where someone lives, state taxes could be a consideration as well. Here is a guide to 10 forms of retirement income and how they are taxed, starting with 401(k) plans and traditional IRAs.

Senate passes budget resolution to clear way for relief The Senate has voted to approve a budget resolution that would let Congress pass President Joe Biden's $1.9 trillion coronavirus relief package with a simple majority. The House has to vote again on the measure.

Where has your ID been? Many Americans believe they'll likely be an identity theft victim in the next year, yet few take measures to protect their financial information. Good news: There are ways to protect your identity and your finances.

Measure of consumer confidence shows improvement The Conference Board index of consumer confidence came in at 89.3 for January, rising from 87.1 in December. Relief measures passed in late December could be contributing to the gain.

The COVID-19 era: Planning for the year-end and beyond Among the opportunities, suspension of required minimum distribution rules might let some taxpayers recognize capital gains at the 0% tax rate. Learn about that and other strategies.

A ranking of the least friendly states for retirement taxes Some states are tax-friendlier than others for retirees. Here is a ranking of the 15 least hospitable states, based on factors such as estate taxes, taxes on retirement income and property taxes.

How to judge a job candidate's emotional intelligence Evaluating a job candidate for emotional intelligence can be challenging, but asking the right questions can help. It's also important to provide innovative development programs to help employees progress in this area.

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Don't overlook these year-end tax strategies Several actions can help you manage your tax bill before year-end. Here is a look at strategies to consider, including those related to prepaying bills, maximizing retirement contributions and making charitable donations.

Time to consider a Roth conversion In these uncertain times, a qualified rollover contribution to a Roth IRA might be an attractive option because it can provide a higher net present value of cash flow from retirement savings. Find out how to maximize benefits.