Maybe you filed a tax extension back in April because you were missing some of the paperwork, needed more time due to complications, or simply procrastinated. Regardless of the reason, you filed an extension and now have an additional six months to file. On today’s show, Ralph outlines reasons for…
There are dramatic differences between traditional and Roth individual retirement accounts (IRA) and what you do not understand about the particular rules that apply to them can cost you. On today’s show, Ralph discusses the differences between these two very different retirement plan contribution accounts and the applicable tax…
Are you wondering why you owed so much in taxes this year? Want to make sure you never owe a big tax bill or any bill at all – when you file your income taxes? On today’s show, Ralph outlines what steps you need to take throughout the year to…
The importance of Social Security for retired Americans simply can not be overstated. Further, understanding what you will be paid from Social Security and what factors can effect that payout are equally important. On today’s show, Ralph discuss the various factors that may affect your Social Security payout. Submit your…
On today’s show, Ralph discusses features and benefits to contributing to 401(k)s for those staring early and those starting late. Submit your questions or ideas for future shows, tweet us at @askralphmedia or email us at askralph@askralphmedia.com. Like us on Facebook and follow us on Twitter (@askralphmedia) or visit www.askralphmedia.com…
Retirement is about the alignment of two things: money and values. When deciding if you should retire, that means you have to know if you can afford to - and you have to know what retirement means to you. On today’s show, Ralph talks about retirement and helps answer the…
Many Americans do not know that depending on your income, you could have to pay your federal income tax rate on up to 85% of your Social Security benefits. On today’s show, Ralph reviews the tax regulations regarding Social Security and applicable income limits so that you are not blind…
Did your forget to file your taxes? Were you too busy to submit your return? Was tax filing just too confusing? On today’s show, Ralph talks lame excuses for filing late and not filing and whether that excuse holds any weight with the IRS. Submit your questions or ideas for…
So you have filed your 2017 tax return, or filed an extension, and may have one nagging question: Am I going to be audited by the IRS?For most people, even the prospect of an IRS tax audit can raise your blood pressure. On today's show, Ralph review 12 of the…
To err is human, but to err on your tax return can be a complete disaster. If you did your own taxes, of course, you may have only yourself to blame. But if you think your tax preparer made a mistake on your return, there are steps to take. On…
Tax day is dreaded by millions of Americans, and some people have such a hard time coming to grips with filing for taxes that they file extensions to prolong the inevitable. April 17th is the deadline for most taxpayers to file an extension and to pay any taxes owed to…
The discussions surrounding Social Security filing seems to always center around when to file and how best to strategize your claims; however, many do not know the actual process to file when you decide to file. On today’s show, Ralph outlines the entire process for filing for Social Security benefits…
Selling an investment can have tax consequences. To figure out whether you need to report a gain or can claim a loss-after selling, you need to know the cost basis for that investment. On today’s show, Ralph outlines everything you need to know when computing your cost basis this tax…
Every direct employee of a company receives a W-2 form in January. The W-2 is the base document that defines your tax obligations, so it is important that you review and understand yours. On today’s show, Ralph reviews how to review your W2 form and update your withholding status each…
On today’s show, Ralph review some of the most common penalties associated with IRS filings as we come closer to the end of filing season on April 17th. Submit your questions or ideas for future shows, tweet us at @askralphmedia or email us at askralph@askralphmedia.com. Like us on Facebook and…
When it comes to saving for retirement, most American workers are not only falling short, they don not even know how behind they are. What is more disturbing, research shows that savings trends are getting worse, despite a decades-long push to enroll workers in 401(k)s and other employer plans. On…
Congratulations! You have just been handed your first little bundle of joy in the are about to embark on the long journey of parenthood. It will be full of joyful experiences that make the corresponding aggravations worthwhile, and it comes with many benefits — some of which are tax-related. On…
The Federal tax reform passed in December has created changes to the tax rate and bracket structure, with an elimination of personal exemptions and certain itemized deductions. The changes were implemented for 2018, and will affect filing in spring 2019. That does not mean it is too early to start thinking…
On today's show, Ralph discusses 15 relevant and burning tax season questions to get the answers to before April 17th. Submit your questions or ideas for future shows, tweet us at @askralphmedia or email us at askralph@askralphmedia.com. Like us on Facebook and follow us on Twitter (@askralphmedia) or visit www.askralphmedia.com…
In your rush to file your taxes this year, do not forget to watch out for fraudulent tax preparers. Crooked tax preparers will lure you with the promise of big refunds and easy fixes. Beware that you will be on the hook to pay more money when the IRS catches…
Paying taxes is painful enough. We understand why forking over even more of your hard-earned money to pay someone to prepare your tax return would seem out of the question? If your tax situation is straightforward, a professional preparer is not needed. But for some taxpayers, it is worth spending…
If you’re a small business owner, Tax Day (April 17th) has a wholly different connotation than it does for most of America. While most working Americans, are excitedly anticipating the receipt of a big refund check, small business owners dread the annual scramble to gather their K1s, compile deductions, and…
If you think your tax work is done once you file your return, think again. Now you need to file your tax records. Keeping your tax returns and the documents you used to complete them obviously is critical in case you are ever audited. Good record-keeping also could help if…
An IRS tax audit stands out as one of those events in life that people typically want to avoid. No one wants to sit through a meeting with the IRS and be told that they owe more money in taxes. However, you may be making mistakes when you file taxes…