YOUR 4% WITHDRAWAL STRATEGY MAY NOT BE ENOUGH Get the Tax Guidance You Need to Help Live the Retirement You Desire There’s a lot of concern among industry experts about whether the popular 4% withdrawal rule can provide enough income...
Read MoreIf you own or are considering owning a home, you can take advantage of many tax benefits. Here are six of the most commonly used homeowner's tax breaks: 1. Mortgage Interest Deduction. You can deduct the interest you pay on your...
Read MoreThe Tax Cuts and Jobs Act (TCJA) was passed by Congress in a hurry late last year, and the IRS and tax preparers have been working to digest some of the more thorny issues created by the tax overhaul. Here are the latest answers to...
Read MoreTax filing reminders January 16 – Due date for the fourth installment of 2017 individual estimated tax. January 31 – Due date for employers to furnish W-2 statements to employees, and to file Forms W-2 with the Social...
Read More1. Give to Charity This year, increasing your charitable giving could be even more effective. If your tax rate is falling in 2018, your deductions are more valuable if claimed against this year’s income. Giving to charity, is an...
Read MoreAfter listening to a hair raising program in New Orleans that I mentioned in a blog last week, I spoke to Anurag who suggested I share his article with my readers, so here it is. If you want to discuss these issues further you are...
Read MoreAs the year draws to a close, there are several tax-saving ideas you should consider. Use this checklist to make sure you don’t miss an opportunity before the year is out. Retirement distributions and contributions. Make final...
Read MoreSection 179 expensing can be a very powerful tax-planning tool for small- and medium-sized businesses acquiring capital assets. While it doesn’t change the amount of depreciation you can take over the life of a capital purchase,...
Read MoreReap the benefits of hiring your child for the summer Hiring your children to work in your business can be a win-win situation for everyone. Your kids will earn money, gain real-life experience in the workplace, and learn what you do...
Read MoreThank you for giving us the opportunity to serve you this past year. Your trust and your business are appreciated, and your referrals are welcome. We wish you a happy, healthy, and prosperous 2016.
Read MoreWhen planning gifts for children on your holiday list, you might want to think beyond the traditional retail offerings. Consider financial gifts that can bestow benefits for many years to come. Some financial gift options you might...
Read MoreThat ticking you hear is the tax clock winding down – quickly. There is only a very short time left to cut your taxes for 2015. Here are moves you can still make before year-end. If you believe you will owe state or local taxes,...
Read MoreThe “time value of money” is a critical concept in handling personal finances. The same basic premise can be applied in making decisions for your business. Here’s how it works: Typically, the money you currently have in your hands is...
Read MoreAre your beneficiary designations up to date? Do you know which accounts have beneficiaries, and whom you’ve designated? It’s easy to lose track. But it’s important to keep them current. Here’s why. When you designate a beneficiary for...
Read MoreThe IRS has once again issued an alert for scams relating to fake charities. This time the fraudsters are looking to profit from the severe flooding in South Carolina that led to the declaration of a federal disaster area. If you’re...
Read MoreIf you’re over 70½ and are required to take distributions from your IRA or other retirement account, remember that you must take your 2015 RMD (required minimum distribution) by December 31. Otherwise you may face a penalty of 50% of...
Read MoreBeginning this month, you can sign up for a new 2016 health insurance policy on the health insurance Marketplace. You can also change or renew the policy you purchased during the last enrollment period. Even if your current policy has...
Read MoreAs the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next. Factors that compound the challenge include turbulence in the stock market, overall...
Read MoreAs the end of the year approaches, it is a good time to think of planning moves that will help lower your tax bill for this year and possibly the next. Factors that compound the challenge include turbulence in the stock market,...
Read MoreNext year, you’ll get a few extra days to file your 2015 income tax return. The District of Columbia will be observing Emancipation Day on Friday, April 15, 2016, the usual filing deadline. That moves the filing deadline for 2015...
Read MoreWould you like to give your child a head start on smart money habits? Here’s a suggestion: Have the child invest in a Roth IRA. Why? The tax-free compounding of contributions and investment returns over your child’s lifetime is a great...
Read MoreDon’t let penalties for underpaid taxes increase your tax bill next April. Check the total you’ve paid in for 2015 through withholding and/or estimated taxes. If you’ve underpaid, consider adjusting your withholding for the final...
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