IRA | Connolly Steele

The latest news from Connolly Steele about personal & business accounting, payroll & tax services plus financial advice & planning.

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Selling stock by year-end? Watch out for the wash sale rule

If you’re thinking about selling stock shares at a loss to offset gains that you’ve realized during 2022, it’s important to watch out for...

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How inflation will affect your 2022 and 2023 tax bills

The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than you were last...

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Inflation Reduction Act provisions of interest to small businesses

The Inflation Reduction Act (IRA), signed into law by President Biden on August 16, contains many provisions related to climate, energy...

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How to avoid the early withdrawal tax penalty on IRA distributions

When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a penalty tax on early...

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IRA charitable donations: An alternative to taxable required distributions

Are you a charitably minded individual who is also taking distributions from a traditional IRA? You may want to consider the tax...

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There still may be time to cut your tax bill with an IRA

If you’re getting ready to file your 2021 tax return, and your tax bill is more than you’d like, there might still be a way to lower it....

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Thinking about participating in your employer’s 401(k) plan? Here’s how it works

Employers offer 401(k) plans for many reasons, including to attract and retain talent. These plans help an employee accumulate a...