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Frequently Asked 2021 Tax Questions

Frequently Asked 2021 Tax Questions

With a new year brings new tax questions. Let’s dive into the most common tax questions I’ve heard in the month of January. Is my stimulus payment taxable? No, absolutely and unequivocally no. The stimulus money isn’t included in your taxable income and won’t count...
Last Minute Tax Moves Before You File

Last Minute Tax Moves Before You File

With the electronic filing opening being pushed to February 12th (usually mid-late January) this year, let’s look at some last-minute tax saving strategies before you file. Keep in mind that tax avoidance is about legitimate moves based on your individual facts and...
I No Longer Qualify for a Roth IRA, Now What?

I No Longer Qualify for a Roth IRA, Now What?

So, you are interested in saving for your retirement, but you make too much to contribute to a Roth IRA. There are many rules surrounding this type of retirement account that limit who can use the account and how they can use it. The backdoor Roth IRA is a common...
5. Tax Me If You Can

5. Tax Me If You Can

Welcome to Questioning Your Cents where you can get your real-world, pragmatic tax & financial advice for business owners, entrepreneurs and independent contractors.   We are your host Kevin Molen and Charles Steinmetz. Our job is to help people education on...
Should You Save or Invest?

Should You Save or Invest?

One of the hardest questions we ask ourselves is whether we should save our money or invest it. Keeping our money in our account for emergencies can help us feel safe in knowing it’s available when we need it. On the other hand, choosing to invest will help with...

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