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Retirement
Backdoor Roth IRA Pro Rata Rule: What You Need to Know
The Backdoor Roth IRA Pro Rata Rule is a critical concept for high-income earners who use the backdoor Roth IRA strategy to bypass income limits on Roth IRA contributions. While the backdoor Roth IRA offers a legal and effective way…
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Business
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Business
How Are Unrealized Receivables Treated When Admitting New Partners?
Unrealized receivables pose a unique challenge when a new partner joins a partnership. These receivables,…
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Deductions
Are Pastors Exempt from Taxes?
Pastors are not fully exempt from taxes, but they do enjoy certain unique tax benefits and exemptions under federal law. The tax treatment of pastors is complex due to their dual tax status: they are considered employees for federal income…
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Calculator
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Paycheck Calculator
New Mexico Paycheck Calculator 2024 - 2025
The question “How much is taken out of paycheck in New Mexico?” depends on several factors. These include the number of employees, the frequency of their payments, and how much tax they pay. Also, you need to factor in deductions…
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