Financial Focus - The New Citizens Press

TAX SOLUTIONS: IRS Statute of Limitations for Audits

Rina Risper10 years ago04 mins

By A.J. Gross, C.P.A., E.A.

How many years back can the IRS audit your tax return? Have you ever wondered how long you should keep documents used to prepare your tax returns? In this article, I review the IRS statute of limitations for audits.

Jill on Money: Retirement reconsidered

Rina Risper10 years ago08 mins

By Jill Schlesinger

Tribune Content Agency

When it comes to retirement, most Americans aged 45 and older say that peace of mind is seven times more important than accumulating wealth. According to a survey from Merrill Lynch, people are reconsidering what retirement means and how they are going to get there.

TAX SOLUTIONS: PayPal and eBay Sales Can Cause Problems

Rina Risper10 years ago05 mins

By A.J. Gross, C.P.A., E.A.

Over the last few years, taxpayers that use PayPal and eBay to sell goods are getting a strange form. The form is 1099-K, Payment Card and Third Party Network Transactions. Don’t ignore this form. You may be in for a big surprise if you do.

Financial Focus: What’s Your Financial Health Score?

Rina Risper10 years ago07 mins

Can a 5-question test predict how wealthy you will become?

Provided by Jose Yanez

In the future, will you become wealthier or poorer? Who knows, right? It seems like you would need a crystal ball to really answer that question given life’s up and downs. What if the answer is right in front of you? What if you can determine it from your present financial behaviors?

Jill on Money: No interest rate relief for savers

Rina Risper10 years ago07 mins

By Jill Schlesinger

Tribune Content Agency

As expected, when the Federal Reserve concluded its most recent two-day policy meeting, the central bankers decided to keep short-term interest rates at zero to one-quarter of a percent, which is where they have been since December 2008. In fact, it has been almost eight years (June 2006) since the Fed last increased interest rates.

Jill on Money: Reverse mortgage now comes with stricter underwriting process

Rina Risper10 years ago07 mins

By Jill Schlesinger

Tribune Content Agency

The Great Recession and stock market rout eviscerated retirement nest eggs, changing the course of retirement planning for millions of people. And while the value of real estate also plunged, many older Americans owned their homes outright, allowing them to utilize a reverse mortgage to help finance retirement.