Missouri Tax and Business Blog

This blog focuses on a variety of issues affecting individuals and small businesses. Topics for individuals include taxes, identity theft, security among other relevant issues. Small business owners can see topics about taxes, tax planning, marketing and other business issues/topics.

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Posts about Personal Finance

14 November 2022

Ways To Save on Your Taxes If You are Laid Off

As difficult as losing your job can be, one area that you don't want to forget about has to do with the income tax implications of such an event. Note that there are still steps that you can take today to save money on your taxes in the event that you've been laid off - you'll just need to keep a few important things in mind along the way.

David M Robson

Taxes

10 November 2022

Time is Running Out to Take Your 2022 RMD

If a retirement plan owner takes no distributions, or if the distributions are not large enough, then he or she may have to pay a 50% penalty on the required distribution amount that is not distributed.

David M Robson

Taxes

08 November 2022

Managing Gains and Losses in a Turbulent Year

Any transaction you plan must be completed by the end of the year, which is right at the conclusion of the Holidays. Thus, it is probably appropriate to have your planning strategies in place well in advance of the Holidays.

David M Robson

Taxes

25 October 2022

2023 Social Security Cost-Of-Living Increase Highest In 40 Years

The Social Security Administration recently announced that Social Security beneficiaries will get an 8.7% increase to their benefits in 2023. Thanks to the current high inflation this is the highest increase in 40 years, and the second year in a row that there’s been a substantial increase, 5.9% in 2022 and now 8.7% for 2023.

David M Robson

Taxes

17 October 2022

What Is an Offer in Compromise?

Some people think they can turn to bankruptcy, but that is not the case – bankruptcy specifically will not discharge tax debts. One of the few options available for settling tax debt is an IRS program called an Offer in Compromise, or OIC.

David M Robson

Taxes

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