Month: January 2018

Alimony or child support? A big tax difference

f you are divorced and have young children, there’s a good chance that you are paying or receiving alimony or child support (or both) under a divorce decree. What’s the difference? The distinction is important to the IRS. Currently, alimony…

Tapping your retirement account early?

Consider these factors: Ideally, you should try not to tap your 401(k) or IRA accounts before it’s time to retire. But life happens. In certain situations, you may need to withdraw a portion of your nest egg while you’re still…