Home: Authors: Phil Bailey

CPA - Your Trusted Tax Advisor

Saving for retirement is an excellent objective. Congress has created tax incentives to allow you to get a tax benefit on your savings. One example is an IRA, a 401K or other qualified retirement account. But what is a Roth IRA? Is it better than a traditional IRA or not? The answer is that it depends. Do you want the tax deduction to reduce your taxes now or would you prefer to have a tax-free retirement account.

So, you have decided to start a new business venture. Congratulations. You have plenty of decisions to make as to how to set the business up. But you will get there for you are going to build the better mousetrap.

This article will give some perspective on extensions, penalties and other issues regarding extensions. This should clear up some of the mystery of the great unknowns of filing extensions. Some deadlines to do other tax-related items are tied to the due date of the return including extensions.