penalty

2016 Tax Extension Deadline – Should You File a Tax Return or File an Extension?

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[Updated Oct 2016] – The due date for filing your extension approved 2015 tax returns is coming up soon (Oct 17th). So ensure you take the appropriate action to pay your taxes due or get enrolled in an IRS installment payment plan. Extension Tax Deadline is approaching! Your Last Day to File is 10/17. File […]

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Obamacare ACA Maximum 2015 Penalty To Top $12,000 For Higher Income Earners

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For the 2015 tax year, the Obamacare or Affordable Care Act (ACA) shared responsibility is set to double from a maximum $975 per household in 2014 to approximately $12,850 per household. This is based on the percentage of income criteria, versus the flat tax/penalty amount outlined below. To avoid being subject to this penalty individuals […]

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Roth IRA Early Withdrawal Rules For After Tax Contributions, Traditional IRA Conversions and Investment Earnings

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A Roth IRA can provide a great way to build up savings for retirement. These accounts allow funds to grow on a tax-free basis. And, provided that the account owner meets just a few requirements, all the money contributed and earned in a Roth IRA account may also be withdrawn without taxation at retirement. Oftentimes, however, […]

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Using Your Roth IRA as an Emergency Fund

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Have you considered using your Roth IRA as an emergency fund? In this era of tight budgets, a lot of people are finding it difficult (if not impossible), to save for retirement and maintain an emergency fund. Because of this, it’s become trendy to recommend using your Roth IRA as a sort of de-facto emergency […]

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How to Withdraw Money Early From Your 401K or IRA Without Paying a Penalty

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In the current economic environment, many people are finding it hard to make ends meet or pay for unexpected events requiring large sums of money.  So circumstances are forcing people to turn to their retirement accounts to find the necessary funds. All good personal finance advice says not to touch your 401K or IRA, because […]

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Getting Out of Your Car Lease Quickly and Cheaply

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There is an interesting new service available for people trying to get out of their car lease without having to pay a penalty. It is from a company called SwapaLease.com that is essentially an on-line marketplace which brings together individuals who are looking to enter and/or exit car and truck leases. They are a pretty […]

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