Newsletter Archive



Financing Your New Small Business
You'll have to make a lot of decisions when starting a new business. One of the bigger ones will be how you'll fund it. The financing option you choose may have a significant impact on your company's success.

RMDs Return for 2021
After being suspended for 2020 via the CARES Act, required minimum distributions (RMD) are back for 2021.

What To Know About 401(k)s
One of the common retirement plans offered by employers is a 401(k) plan. These plans make saving for retirement convenient. But make sure you understand the basics so you can capitalize on plan options and determine how your 401(k) fits into your overall retirement strategy.

September 2021 Client Profile
My retail store has been very successful and time consuming, so I need to hire a bookkeeper to take care of the finances. What questions should I ask candidates to ensure that I hire a competent bookkeeper?

Cryptocurrency Basics
Cryptocurrency is an alternative form of payment and works through a technology called blockchain, a decentralized processing and recording system making it nearly impossible to counterfeit and it comes with tax reporting requirements.

Employee vs. Independent Contractor: What's the Difference?
Tax rules differ for employees vs. independent contractors, so consider income taxes when you need to hire help for your business.

September 2021 Q and A
Let's talk about registered agents, interest rates, and annual percentage rates.

September 2021 Short Bits
The IRS has issued more than 2.8 million in refunds to taxpayers who paid taxes on unemployment compensation before the American Rescue Plan Act excluded $10,200 in unemployment compensation for 2020.

 

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When's the Right Time to Collect Social Security?
Choosing when you’ll start collecting Social Security benefits is a personal decision and the right time to begin varies from person to person.

Clarifying Business Meal Expenses for 2021 and 2022
The IRS recently clarified what types of business meals qualify for 100% expensing in 2021 and 2022.

Negotiating Post-Covid Benefits
As companies open again, employers may have discovered that a new normal may increase employee satisfaction and productivity. For example, remote work may have worked best for some, while others prefer the socialization of the workplace. Here are some things to consider:

August 2021 Client Profile
At the suggestion of a friend, Bruce started day trading stocks in his brokerage account. He’s had fun and made quite a bit of money, but has also lost money. Then he received an unexpected $20,000 tax bill due to numerous wash sales.

Deduct Mortgage Interest
Buying a house in this red-hot housing market comes with tax perks for those who itemize deductions.

Deduct Business Expenses
Not all business expenses are created equally. Only those that rise to the “ordinary and necessary” threshold become tax deductible.

August 2021 Q and A
Let's talk about your business credit score and making estimated tax payments.

August 2021 Short Bits
Let's talk education, and getting back to school post pandemic.

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Paying Yourself as a Business Owner
Owning a business is challenging and hard work, so you’ll want to compensate yourself appropriately. How you do that depends on the structure of your business.

Tax Diversification in Retirement Planning
In the same way that you diversify your investments, you’ll want tax diversification too. Tax diversification involves making decisions today based upon what you think tax rates will be in the future. This will help to minimize the total amount of tax you’ll pay in retirement.

Managing Inflation Risk During Your Retirement
Longer retirements mean inflation can put a serious dent in the best-laid plans. Most people factor in inflation when planning how much they will need when they reach retirement. But inflation does not stop the day you retire. In fact, your budget on the day you retire could look very different five, 10, or 20 years into retirement.

July 2021 Client Profile
My business is located in Michigan, but I’m considering hiring remote employees who live in other states. How will this impact my payroll taxes?

Control Cash Flow and Costs with Just-In-Time Inventory Management
Holding small amounts of inventory with a Just-In-Time (JIT) inventory system can improve cash flow and create operating efficiencies.

Losses and Your Rental Property
The general rule is that rental activity is passive, whichs limits the amount of losses you can claim on your tax return.

July 2021 Q and A
Let's talk earning rewards and whether it's better to lease or purchase new machinery for taxes.

July 2021 Short Bits
Things are looking up. Charitable giving has increased and so have the number of relocations during the pandemic.

 

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Casualty, Disaster, and Theft Losses Affect Taxes
With the hurricane and wildfire seasons upon us, coupled with the risk of tornadoes and flooding, now’s a good time to understand how casualty and disaster losses impact your taxes.

Be Prepared
Natural and human-made disasters can strike anywhere and anytime. Here are ways your business can be prepared.

Understanding Payroll Taxes
Whether you’re hiring your first employee or already have a few, understanding payroll taxes is a must.

June 2021 Client Profile
Andrea will start a new job in Spain in a few months and she’s not sure if she will still have to file taxes in the U.S.

Charitable Remainder Trusts for Inherited IRAs
With the stretch IRA now a thing of the past, how will you pass on your IRAs? Charitable remainder trusts (CRT) give you some control and options.

Understanding Patents
Have you ever considered getting a patent for an innovative idea or product? There are different types of patents, so work with a patent attorney.

June 2021 Q and A
Let's discuss choosing your filing status and fringe benefits as a sole proprietor.

June 2021 Short Bits
While many states prepared for a substantial revenue shortfall in 2020 due to the effects of the pandemic, states only saw a 1.6% revenue decline according to the National Association of State Budget Officers.

 

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