Download the PDF A 529 account is a type of savings plan that is designed specifically for education expenses. The money in a 529 account can be used to pay for a wide range of education-related expenses, including tuition, fees, books, supplies, and room and board. One of the main
When contributing to your IRA or 401(k) you have the option to do either tax-deferred or Roth contributions. The difference in these 2 types of contributions is when taxes are paid. For tax-deferred contributions, taxes have not been paid on the money you use to fund the account. Instead, you
Most business owners have a CPA and/or bookkeeper, but do they have a Financial Planning Expert? Meaning, is someone analyzing the financials for efficiencies or inefficiencies, performing trend analysis, or looking for savings opportunities? Traditionally, there is very little planning that goes into most services offered by your typical CPA.
If you are a business owner and have children, you might not be taking advantage of a simple strategy that can save you taxes, while also getting a jump start on your kid’s retirement savings. Through your company, you can hire your child as an employee and pay them
Have you ever gotten a surprise call from your tax preparer telling you that a large tax payment is due, and you only have a few days to make the payment? Well, through tax planning, you might be able to mitigate the frequency of these last-minute tax payments. Majority of
How to Save Taxes as a Business Owner With Kids Many Business owners today are looking for ways to save on taxes but didn’t know that they can pay their kids at a lower tax rate for work the kids do around the office. This strategy is one that
DOWNLOAD THE PDF The year 2020 proved to be one of the most tumultuous in modern history, marked by a number of developments that were historically unprecedented. But the year also demonstrated the resilience of people, institutions, and financial markets. The novel coronavirus was already in the news early in
Download the PDF Each quarter we put together a PowerPoint detailing how different markets performed over the last quarter. You will notice that Q1 of 2019 was a great quarter. One of the best the US and much of the world has seen (especially in a long time). To see
Download the PDF With the end of the year approaching, tax planning is probably high on your list of things to do. We wanted to share some thoughts for you to consider before December 31st. Below are some of the ideas we have: Contributions to Qualified Retirement Accounts: Reduce
Tax Planning for Year End 2017 Although nothing is certain, Congress appears to be getting closer to enacting significant federal tax law changes that would take effect for 2018. Based on what we know today, the standard deduction amounts will be doubled from current levels and personal exemptions will be