by PSA CPA | Nov 1, 2024 |
IRAs are designed to help individuals save for retirement, but what happens to these funds if the account owner passes away? When setting up an IRA, you have the option to designate a beneficiary who will inherit your IRA if you die. If you don’t assign a beneficiary,...
by PSA CPA | Nov 1, 2024 |
Economic downturns often result in layoffs, particularly in industries like tech. For some employees, the bright spot in these challenging times is a severance package. If you’ve received one, it’s natural to feel overwhelmed. While taxes may not be top of...
by PSA CPA | Nov 1, 2024 |
Imagine having the choice to apply your 401(k) employer match toward student loan payments or healthcare costs instead of just retirement. This could soon be a reality, thanks to a recent IRS ruling for employees at one company, who now have the option to direct their...
by PSA CPA | Sep 30, 2024 |
Disability income, also known as disability benefits or payments, provides financial support to individuals who cannot work due to a physical or mental disability. This income can come from various sources, such as the government, an employer, or an insurance policy....
by PSA CPA | Sep 1, 2024 |
When planning home improvements, it’s essential to understand which projects may offer potential tax advantages. While most home improvement costs are considered personal and aren’t typically tax-deductible, there are notable exceptions. This guide will answer...
by PSA CPA | Sep 1, 2024 |
Child care is an essential need for American families, not a luxury. However, the rising costs of quality child care are surpassing other major expenses like housing and higher education, creating a financial strain for many. In 2022, the average annual cost of child...
It’s interesting to see how Social Security benefits are taxed differently depending on income and location. I didn’t realize only…