Wouldn’t it be nice to check out of the workforce early and not have to worry about having enough for retirement? While good financial planning can help you get there, leveraging the tax code as part of your retirement plan is also a good idea. Here are some tax tips that could help you reach ... Views: 426
If you need more time to file your 2017 income tax return, you can get an extension — no explanation is necessary.
There are a lot of reasons why you may need more time to file your 2017 individual income tax return. For instance, you might want to hold off funding a retirement plan until you ... Views: 723
Teaching your child about cash and funds is least demanding when you begin early. Here's a snappy audit of what you should train your children at each age in the event that you need them to end up monetarily capable grown-ups:
Preschool
Distinguish coins and charges, and realize what each ... Views: 525
In your tax planning, don’t overlook how your tax-saving strategies might be impacted by the alternative minimum tax.
What is the alternative minimum tax?
Enacted back in 1969, the alternative minimum tax (AMT) is a separate income tax calculation that was designed to make sure that ... Views: 508
This often overlooked bookkeeping and payroll tax requirement can cause a tangle of tax problems if not handled correctly. It ended a run for Congress by Caroline Kennedy (JFK’s daughter) and killed a U.S. Attorney General nominee’s chances for appointment. Could you be impacted? This is what ... Views: 482
There is no magic to making money by investing. It requires discipline, determination, perseverance, and hard work. In deciding what investments are suitable for you, you must first understand the nine basic rules of investing.
1. Risk versus return. The greater the risk that you will lose ... Views: 405
It’s now time to build you case to ask for loan forgiveness if your business received a loan from the Small Business Administration (SBA) Payroll Protection Program (PPP). That’s because there is now guidance on filling out the new Loan Forgiveness Application.
Background
Around three ... Views: 337
If you were offered the choice of being paid $100 today or $100 a year from now, you would probably choose $100 today. After all, even at today’s low interest rates, your $100 might earn a small return over the next year. This simple example illustrates an important concept: that the value of ... Views: 298
If someone manipulates cash transactions to avoid required bank reporting to the Treasury Department, they are using the technique of structuring their transactions. Knowing what is reported and the power given to the IRS to seize related assets can be important.
Background
To identify ... Views: 316
If someone manipulates cash transactions to avoid required bank reporting to the Treasury Department, they are using the technique of structuring their transactions. Knowing what is reported and the power given to the IRS to seize related assets can be important.
Background
To identify ... Views: 276
The Senate blocked an extension of the Paycheck Protection Program as negotiations for a larger relief package continues between Democrats and the White House. The legislation was shot down 40 to 58 on October 20 as several lawmakers broke ranks and voted with the opposite party.
The measure, ... Views: 322
Most successful business managers use financial statements and other special reports to generate higher profits. If you haven’t been using all the financial tools available to you, here are some ideas to get you started.
There is no need to feel intimidated by financial statements. If your ... Views: 344
Even with the best of intentions, many companies talk up customer service but don't actually deliver. In order to really provide great customer service, every employee needs to be tuned in to how he or she can contribute to keep customers coming back again and again. This ultimately affects the ... Views: 433
Need to save more for retirement? Here are some questions to ask yourself to help you get started and stay on track:
How much money do you need? The number of years you have before retirement will help determine how much you will need to invest each month to reach your financial goal.
... Views: 505
Planning to move? As you scan apartment listings on Craigslist, you spy a great deal. The rental unit comes with amenities galore and lease payments well below market rates. You’re in a time crunch, so you make an appointment to tour the apartment.
Unbeknownst to you, the “landlord” (AKA the ... Views: 346
The following sequence of events is common to many new and expanding businesses.
The Short-Term Squeeze
You start your business with a limited amount of capital and an abundance of good ideas and ambition. The sales activity has been adequate to produce a net profit. Your inventory is ... Views: 512
As tax professionals, we often are asked “Why do I need a tax professional when I can buy tax preparation software?”
Let us explain…
Tax software producers claim their products can prepare complex returns, but you may want to think twice before relying on software for all your tax and ... Views: 279
The Social Security Administration (SSA) made a 2.8 percent increase to monthly Social Security and Supplemental Security Income (SSI) benefits for 2019. Take a look at some of the most significant changes as you create and update your financial plan for 2019:
2019 Social Security benefit ... Views: 440
Has your child asked for your help with starting a business? If the answer's yes, chances are you may not know where to start.
Since the failure rate for new businesses is high, it would be supportive for you to do whatever you can to increase your child's chances of success. That includes ... Views: 403