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FIDELITY INVESTMENTS is reminding IRA owners aged 70 1/2 years and older if they don't take a required minimum distribution by Dec. 29, they could be subject to an IRS penalty totaling 50 percent of the amount not taken.

Fidelity: Don’t forget about RMDs

SMITHFIELD – Fidelity Investments is urging individual retirement account owners aged 70 1/2 years and older to start thinking about taking a required minimum...
RICAA LEADER: Paula McFarland, right, executive director of the Rhode Island Community Action Association, speaks with administrative assistant Michelle Roy. McFarland received the United Way 211 Award for her work leading RICAA. / PBN PHOTO/MICHAEL SALERNO

United Way honors McFarland for leading RICCA

When it comes to giving in Rhode Island, there may be no more powerful force than the Rhode Island Community Action Association. But its...

ACA repeal may limit benefits of S corporations

Since the 2010 passage of the Affordable Care Act, the use of S corporations has seen a steady increase in popularity among tax advisers,...

‘Good enough’ doesn’t cut it

There’s a good reason why Debbi Fields of cookie fame is so successful, and she summed it up in an aphorism I’ll never forget:...

Applying new accounting rules in various business situations

  Editor’s note: Part I two weeks ago gave an overview of the new accounting rules and their potential impact on income taxes. Part II...
THE IRS RECENTLY PROVIDED tips on how to make the most of miscellaneous deductions, which might not generally fit into a particular tax category.

IRS provides tips for miscellaneous tax deductions

WASHINGTON – The IRS last week released some tips on how to make the most of miscellaneous deductions, which might not generally fit into...

Beware of tax traps when building your LLC

In the often-intense competition to recruit and retain top talent, many partnerships and limited liability companies turn to grants of ownership. On the surface,...
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