Things that make you go hmmm?

Things that make you go hmmm?

Things that make you go hmmm?
1. What can I deduct on my tax return?
Depends on your situation, but some examples: mortgage interest, property taxes, business related unreimbursed expenses, uniforms, dues, etc…

2. Can I contribute to an IRA or a ROTH IRA?
Yes you can and depends on income level. $5,500 is the lmit

3. Will I fall under AMT in 2014?
Yes you can it does not take much in income to reach it. You get an exemption of $41,000 – $80,000 depending on your filing status.

4. Is it a good idea to take early with drawls from a 401k?
It is NEVER a good idea to take money out of your 401k. Money that you put back into it if you borrow is after tax dollars and you loose the growth opportunity and may incur penalties.

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