Winter Park ad-tech company Izea reported Wednesday that an error in its financial reports for the past three years will have no impact on the company’s financial bottom line.
The announcement popped the stock up by as much as 70 percent Wednesday morning, and it closed about 44 percent up for…
CDK Global has acquired Progressus Media, provider of mobile advertising services for dealerships and automotive marketing companies, for an undisclosed amount — a move that bolsters the software giant’s advertising business.
Volkswagen unit Electrify America will install electric vehicle charging stations at more than 100 Walmart store locations in 34 states by mid-2019 as part of Electrify’s plans to bolster charging infrastructure across the country.
The IRS audited approximately 1.4 million individual tax returns filed in 2012.1 That amounts to approximately 1% of 146 million individual returns filed that year. However, fewer than one-quarter of those audits involved face-to-face meetings with IRS auditors. The rest were conducted through the mail.
Filers earning less than $100,000 had a .58% chance of being audited. Among filers with income exceeding
$200,000, the audit rate was 2.06%; for those earning more than $1 million, it climbed to 9.20%. Audit risk also increased for self-employed taxpayers who filed a Schedule C, Income and Expenses for sole proprietors.
Depending on how much income was reported, the chance of being audited ranged from 1.0% for returns listing gross receipts under $25,000 to 2.7% for those reporting gross receipts of $200,000 or more.1
What Triggers an Audit
The following are some of the red flags that could alert the IRS, aside from earning a lot of money:
1. Running a cash business
2. Claiming the home-office deduction
After years of accumulating assets, the time will come for you to begin drawing on those assets to provide income throughout retirement. Before that day arrives, be sure to consider some steps to assist you in keeping your retirement income stream flowing.
Set a Sustainable Withdrawal Rate
As tax-advantaged retirement savings vehicles such as 401(k)s and IRAs have proliferated, so too has the trend toward self-funding of retirement. In the future, the share of personal assets required to fund retirement is sure to grow, which makes knowing how much you can withdraw from your investment accounts each year — and still maintain a healthy cushion against uncertain market and personal circumstances — a necessity to any retirement income plan.
A number of factors will influence your choice of withdrawal rates. These include your longevity, the potential impact of inflation on your assets, and the variability of investment returns. Therefore, when crafting a retirement asset allocation, a key question will be how much to allocate to stocks.1 Certainly you will want to maintain enough growth potential to protect against inflation, yet you will also need to be wary of being too exposed to stock market gyrations. Generally speaking, those who have planned well and amassed enough assets to comfortably finance retirement may be in a better position to include more stocks in their portfolios than those who enter retirement with less.