Simplitax

A big tax bill (or a large refund) may mean you don’t have the proper amount of tax withheld from your paycheck. Here’s how to make sure that doesn’t happen next year.

- https://simplitaxusa.com/2022/08/02/is-your-withholding-adequate/

“They say a person needs just three things to be truly happy in this world: someone to love, something to do, and something to hope for.” ― Tom Bodett

We hope you find everything you need today. Happy Easter!

If you’re laid off or terminated, taxes are probably the last thing on your mind. However, there may be tax implications.

For example, what’s the best option for amounts you’ve accumulated in a retirement plan sponsored by a former employer? For most, a tax-free rollover to an IRA is the best move.

You may continue group health coverage under COBRA. The cost of premiums paid for health insurance is a medical expense, which is deductible if you itemize deductions and your total medical expenses exceed 7.5% of adjusted gross income. Complex situations arise if you have incentive stock options or a “golden parachute payment.” We can help you chart the best tax course during this time.

Fun fact: Outrageous real-life employee expense claims.