IntroductionRecently there has been a lot of talk about Social Security running out of money for people who would like to go into retirement. In fact, it has been said that the Social Security fund will be fully depleted by 2034. This has left many
Everyone knows about Social Security. We are either receiving Social Security Benefits ourselves or we know someone who is. If we are working, we see the reduction in our paychecks. But how is Social Security funded? In this article, we will discuss the four sources
Tax reform has been a major issue in the United States this year. When President Trump was on the campaign trail, he promised a better tax code that would make the United States more competitive with other nations. Over the past few weeks, the tax code
Storing financial documents can become a burden for someone who isn’t properly organized. However, keeping financial documents is incredibly important, especially way after you’ve initially received them. Standard rules state that you should keep your financial documents for about 6 years. This is incredibly important,
As the looming tax season approaches, many taxpayers scramble to find the answers pertinent to their unique employment, investment and business-related questions from qualified accountants. The question of how long to hold on to tax-related paperwork is one of the most frequently-asked questions that preparers
A mortgage is a credit facility that is used to buy a house. Many people opt to secure a house through a mortgage loan instead of renting. In this type of loan, the house is registered with the lender’s name. The house is fully transferred
Obtaining a W-2 form from past years is necessary for filing your taxes, especially if you are preparing for an audit or have been informed of possible tax refunds by an accountant. You might be asked to submit proof of your income, in case you
In today’s sluggish economy, where corporations are downsizing and sending jobs overseas, recent college graduates and disaffected workers are looking for ways to live a comfortable life outside of going the traditional employee route. This is why starting a small business has become increasingly popular
When applying for a mortgage, the potential borrower is asked to submit several pieces of documentation to the lender. Documents that are typically required include recent tax returns, pay stubs, W-2 forms, statements from any bank and investment accounts and information about outstanding debts. A
Tax season is coming upon us, and many employees are wondering how long their current or previous employers have kept their W-2 forms on file. Record retention varies depending on the documentation that is in question, but there are specific regulations regarding W-2 retention. The