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It's time to finish your 2019 taxes. - Oct 15, 2020: Final extended deadline to file individual tax returns for the year 2019. - Oct 15, 2020: Final deadline to fund a SEP-IRA or solo 401(k) for tax year 2019 if you filed an extension. - Oct 15, 2020: Deadline to withdraw excess 2019 IRA contribution and recharacterizing 2019 IRA contribution.... File your tax by the deadline to avoid late filing penalty, even if you do not have the money to pay income taxes. We will help you to request an installment payment. Call us to book your appointment 408-855-8888. ã n lúc hoàn thành h s thu nm 2019 ca bn. - Ngày 15 tháng 10 nm 2020: Thi hn cui cùng gia hn np h s khai thue cá nhân cho nm 2019. - Ngày 15 tháng 10 nm 2020: Thi hn cui cùng tài tr cho SEP-IRA hoc solo 401 (k) cho nm tính thu 2019 nu bn ã np n gia hn. - Ngày 15 tháng 10 nm 2020: Hn chót rút khon óng góp IRA 2019 vt quá và thay i khon óng góp qu hu trí IRA 2019. Np thu trc hn chót tránh b pht, ngay c khi bn không có tin tr thu thu nhp. Chúng tôi s giúp bn yêu cu tr góp. Gi cho chúng tôi t lch hn 408-855-8888.

Highlight of New Retirement Account Rules in Response to Covid-19: -Retirement account participants can withdraw up to $100,000 for coronavirus expenses. - The INCOME TAX due on a retirement account withdrawal can be PAID over three years. - You have three years to return the withdrawal funds to your retirement accounts. - You can delay taking required minimum distributions from retirement accounts in 2020. ... - 401k loan limits increase to 100% of your vested account balance up to $100,000. - The 2019 IRA contribution deadline has been extended to July 15. Before you take a distribution from your retirement accounts, make sure you understand any taxes and early distribution penalties that may apply to the distribution. You may be able to take a Coronavirus-Related Distributionfrom your retirement 401(k) or IRA accounts up to $100,000 penalty-free, but you will still need to PAY income tax on withdrawals and will be drawing from an account that has recently lost value without giving it time to recover. Make sure to consult with your own tax and legal advisors before taking any action that may have tax or legal consequence. https://www.irs.gov//coronavirus-related-relief-for-retire

Anyone who does not normally have a filing obligation (non-filers) and have children under the age of 17, have until 9:00 a.m. PST (12:00 p.m. EST) Wednesday, April 22, to visit the IRS special non-filer tool to enter information in order to add $500 per eligible child to their automatic payment of $1,200! The $1,200 automatic payments will be starting soon for those receiving Social Security retirement, survivor or disability benefits (SSDI), Railroad Retirement benefits, ...Supplemental Security Income (SSI) and Veterans Affairs beneficiaries. Those that fall into any of these categories and who didn’t file a tax return in the last two years, must act now to add $500 per eligible child under the age of 17 to that payment. However, according to IRS COVID Tax Tip 2020-40, if you miss the deadline, the payment will be $1,200 and, by law, the additional $500 per eligible child amount would be paid in association with a return filing for tax year 2020. https://www.irs.gov//ssa-rrb-recipients-with-eligible-chil

Look for changes in retirement plans in 2020. As you are likely aware, our President has signed a spending package that included the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The goal of the SECURE Act is to improve the nation's retirement system through various provisions intended to benefit individual savers with IRAs and support small business owners wishing to offer retirement plans. The Act also includes important tax changes, including some tha...t have nothing to do with retirement.Check with your Tax and/or Financial Advisor to update your personal and financial goals for both your retirement plan and your estate plan. Some of the key provisions included in the SECURE Act you should be aware of: - No early withdrawal penalty for IRAs and 401(k)s when new child arrives. The act will allow you to withdraw up to $5,000 funds from your 401(k) before you reach 591/2 without paying the early withdrawal penalty, as long as you take out the fund within one year of a child being born or an adoption becoming final. - Required Minimum Distributions: The required minimum distribution (RMD) age increased to 72 for IRAs, 401(k)s, and other defined contribution plans. This change applies to individuals that attain age 70 in 2020. - Contribution age limits: The Act eliminates the age cap for contributing to traditional IRAs. - Inherited IRAs: The Act will limit the maximum distribution period for most non-spouse beneficiaries to 10 years from the year of death of the IRA owner (eliminating the "stretch IRA" option). - Retirement plan annuity options: The Act makes it easier for 401(k) plan sponsors to offer annuities as an investment option. - Small-business retirement plan market: The Act will make it easier for small business owners to join Multi-Employer Retirement Plans. https://www.marketwatch.com//secure-act-includes-one-criti

It’s TAX time! Get your MAXIMUM refund with us. And a chance to win $1000 Costco Gift Card. Call now 408-855-8888.

With Gratitude at Thanksgiving, we THANK YOU for your business. #NgocRachel #MedicareSpecialist #401k #ira #Tax #InvestyFinancialServices #ServiceWithSmile

TAX Deadline March 15 - Partnerships and S Corps. The deadline for filing calendar year 2018 partnerships and S corporations is March 15, 2017. These returns must be filed (e-filed or postmarked) by midnight (local time) on March 15, 2017. You can file an extension if needed. Payment must accompany the return or extension if there are taxes due. An extension of time to file does not extend the time to pay taxes that are due. Call Investy to learn more about deadlines, filing extensions, and submitting payments Ngoc Rachel Nguyen

Happy Lunar New Year from our team to everyone!