Newsletter Archive



Year-end Tax Tips
Although 2020 is drawing to a close, there’s still time to maximize your tax deductions and credits to lower your tax bill.

Business Tax Tips
The CARES Act allows corporations to deduct 25% of taxable income for cash contributions made in 2020 to qualified charities.

Section 1031 Exchanges
Section 1031 exchanges, also called like-kind exchanges, have been around nearly a century. They involve swapping one property for another and if structured correctly, can let you defer tax on any gain.

November 2020 Client Profile
Seth paid for his college tuition using funds from a 529 college savings plan. He received a partial refund for a course he dropped. Will he have to pay tax on this refund?

Staying on Track For Retirement
Many companies have had to reduce expenses to retain employees during the pandemic. To save money, some companies paused matching contributions to employee 401(k) plans. If this happened to your 401(k), do not panic. Keep with your existing retirement strategy and consider the following options.

Sales Tax and Online Retailers
Sales tax nexus is the connection that exists between a state’s taxing authority and a seller that requires the seller to register and collect and pay sales tax. For example, having an office, remote employees, affiliates or subsidiaries in a particular state will create nexus. But other specified business activities will trigger nexus with the state, too. Surpassing a set amount of sales transactions or sales income is one such business activity.

November 2020 Q and A
Let's talk taxes; specifically dependents and property taxes.

November 2020 Short Bits
A quick look at marriage, digitial innovation, and tax scams.

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Retiring Earlier Than Planned
Did COVID-19 change your plans to work? Layoffs, forced retirement, reluctance to return to the office to dodge exposure or being an early survivor. Whatever the reason, retiring before planned is stressful and requires a lot to think about and do.

Street Smarts
Purse snatching is a crime of opportunity, but you can take steps to help protect yourself. Start by leaving these items at home:

Reinventing Your Business
The COVID-19 pandemic disrupted everything from education to business as we know it. Here are some considerations as you continue to run your small business during these challenging times.

October 2020 Client Profile
Cora and her husband have three children under the age of 15. She has witnessed her parents’ health deteriorating and is stressed knowing she will be responsible for their care. How can she prepare for the inevitable?

Protect Your Children
Unfortunately, some parents believe that if they died prematurely guardians for their child(ren) would automatically be the Godparents. This may be their wishes, but unless they properly draft legal documents, the court will decide what happens to the children—and your assets.

Raising Money-Savvy Kids
Basic money management isn’t taught in school. So, it falls on parents to teach kids about money. Use these tips to help your kids learn the value of money.

October 2020 Q and A
Let's discuss tax laws and what to consider when making a donation.

October 2020 Short Bits
A quick look at what the IRS flags for audits, and why the Census Bureau is important for local communities.

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Is a Roth Conversion Right For You?
Roth IRAs offer many benefits, including federal income tax-free withdrawals, provided you follow the rules. You can convert a traditional IRA to a more flexible Roth IRA, but it will trigger a significant taxable event.

Data Breaches
Industry studies show that data breaches cost small to medium businesses an average of $200,000.* These costs include customer notification, fines, investigation costs, defense attorney fees and the expense of providing affected individuals with a year of identity theft monitoring services after the breach.

2020 Tax Changes
2020 has been a big year for tax law changes. The SECURE Act is the most significant retirement reform law in at least a decade. The CARES Act provided tax breaks designed to help ease the economic burden of the Coronavirus and related shutdowns. These are just a few of the many changes affecting individuals this year:

September 2020 Client Profile
Allen owns a small construction business and has been self-insuring property and casualty insurance risks using a captive insurance company. Is the IRS planning to crack down on these arrangements?

Open Enrollment Planning
Open enrollment is an important process that usually takes place November 1 through December 15. But for employers, planning starts much earlier. Planning ahead can result in savings, a smooth enrollment process and ensure you are offering benefits that help recruit and retain the best talent. Here are some tips for success:

Real Mortgage Costs
Well-qualified borrowers may be able to get some very low mortgage rates on both purchases and refinance transactions. But the interest rate is only one of the factors to consider before you sign:

September 2020 Q and A
Let's talk about rewarding employees during the holday season.

September 2020 Short Bits
Let's discuss the SEC whistleblower rewards, America's savings problem, and credit card balances.

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End Recovery Chaos
You may have heard the phrase: “Don’t do something—sit there.” That may be sage advice for small business owners who have been hustling to keep their businesses afloat this year. Taking a day to step back and reevaluate your situation and create an action plan that helps move your business forward in an orderly way could pay off in several ways. Be sure to consider these three areas:

Document Management
Begin organizing financial paperwork by understanding how long you need to keep the following records, courtesy of the IRS, but you can also use it as a guide to reduce other financial records:

Cash Flow Solutions
A recent study by U.S. Bank showed that 82% of small business and startup failures were due to cash flow issues. Many times, advance planning can help alleviate these problems. Two impactful solutions include:

August 2020 Client Profile
Lori is retired and concerned about the fallout from the pandemic affecting her finances. What steps should she take to help protect her investments?

College Graduates Seeking Jobs
Graduating in 2020 has been unconventional to say the least. From ending the semester with online coursework to virtual graduation ceremonies, graduates now face a very different economy as they set out to start their careers. Honing job-hunting skills is critical in this environment. Consider these tips to get started:

Identity Protection
With identity theft commonplace, it’s important to understand available options to help safeguard your online information.

August 2020 Q and A
Let's discuss tax deductions for freelancers and homeowners.

August 2020 Short Bits
A recent WalletHub survey reveals that 87 million Americans are worried about their credit scores as a result of the COVID-19 pandemic.

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