Reminder: Social Security Benefits May Be Taxable

Reminder: Social Security Benefits May Be Taxable

Jul 20, 2020 | Personal Tax

Up to 50% or more of a taxpayer’s Social Security benefits may be taxable, depending on annual income. If you’d like to find out more about the details of the taxable portion of your benefits, please see this IRS brief. Please know N&Co always takes these formulas...
Major Changes to Retirement Plans Due to COVID-19

Major Changes to Retirement Plans Due to COVID-19

Jul 17, 2020 | COVID-19, Personal Tax

According to the IRS, qualified individuals affected by COVID-19 may be able to withdraw up to $100,000 from their eligible retirement plans, including IRAs, between January 1 and December 30, 2020. These coronavirus-related distributions aren’t subject to the...