Tax Preparation
Is my Traditional IRA contribution deductible?
Potentially. There are a host of rather complex rules governing the deductibility of Traditional IRA contributions. Traditional IRA contributions can either be deductible or non-deductible. To further complicate matters, a contribution may be partially deductible (and thus partially non-deductible as well). Deductibility depends upon filing status, income and whether you and your spouse (if applicable) […]
Is Social Security Taxable?
Social Security benefits are tax-free for some and partially taxed for others. To determine the taxation of your benefit it is important to understand a concept called “provisional income.” Provisional income is a fairly complex calculation involving half of your Social Security income, other income (including tax-free interest) along with a few adjustments. Provisional income […]