If you don’t have an employer-sponsored retirement plan, ask us to review options with you. Such plans may help you save on taxes, provide creditor protection, and support your retirement goals. Carefully evaluate your business (entity) structure (i.e., Sole proprietorship, S or C Corp, LLC, etc.) Each structure has different tax consequences and liability protections. …
Tax Planning
2025 Tax Planning
Many of you may be aware of the potential tax planning changes on the horizon coming in 2025 to estate-tax rates. Most people are unaware, however, of some of the other tax-cuts that sunset at the end of 2025 if there is no action from Congress and the President to renew them. These tax cuts …
Tax Concerns and Misconceptions
Financial Advisor, Jill Carr When people hear I am a CPA or that I have worked for the IRS, I usually get questions. Taxes are a universal thing that many people worry about, and few people understand how they work. In this article, I’ll do my best to demystify some common tax concerns and misconceptions. …
How We Save Your Tax Dollars
Tax Efficiency 101 – How We Save Your Tax Dollars One of the things that we pride ourselves on is our work with clients on tax efficiency. What do we mean by that? Globally speaking, something is “tax-efficient” if it is taxed at a lower rate than an alternative. Basically, tax efficiency refers to doing …
Roth vs. Traditional Contributions
Roth vs. Traditional Contributions For those actively working, there are many benefits and other financial decisions to make each year. One key decision is associated with your employer savings plan. Many of us hear the term Roth and aren’t quite sure what it means. It is a type of contribution that you can make to …
3 Key Principles – Planning for Retirement
We get it. Finances can sometimes feel stressful and complicated. Life is a series of events – some simple, others complex. Planning for retirement is one of the more complex. That’s why we are dedicating a portion of our newsletter to specifically address some of the most pressing retirement planning related topics and concerns for …
7 Tax Essentials
7 Tax Essentials for Snowbirds Snowbirds frequently head to places like Florida, Arizona, or California in the winter months, and come back during the summer months. Before you pack up and fly away, here are 7 tax essentials to help you figure out the tax side of being a snowbird. Decide on your “tax residence.” State …
Secure Act 2.0
In a further attempt to expand and promote retirement savings, Congress passed SECURE Act 2.0 as part of an overall spending bill, the 2023 Consolidations and Appropriations Act. President Biden signed the bill into law on December 29, 2022. OVERVIEW The SECURE Act 2.0 is a follow-up bill to the original SECURE Act passed in …
Tax Loss Harvesting
Want to impress your friends with knowledge of reducing your taxes using investment sales? I’m going to teach you. We all know the adage, “buy low, sell high.” Well, sometimes your investments don’t turn out the way you want them to, and you may want to consider selling low. Tax loss harvesting is when you …
Year End Deadlines
Year end deadlines are important milestones for taxes and financial matters. Here are some important year end deadlines to keep in mind: Benefit “Open Enrollment” periods – Workplace November 1, 2021 – January 31, 2022 Last day to enroll in new health insurance plan on healthcare.gov January 15, 2022 Tax loss harvesting (more about this …