Newsletter Archive

Year-End Business Tax Breaks
If you own a small business, there are a variety of moves you can make to reduce business income taxes for 2019. Here are a few, which you should discuss with a professional tax advisor:

There's Still Time
Individuals have a few tax breaks to explore, too. The IRS disallows many deductions if you take the standard deduction, but not all, for 2019.

Tax-Loss Harvesting
If investments you sold in 2019 lost money, you may find some solace in the IRS tax code. You can deduct certain losses from your taxable income – called tax-loss harvesting – when you understand the rules. Here they are briefly:

December 2019 Client Profile
Jenny owns a warehousing company and wants to give a holiday party, but she has heard that the cost is either 50% deductible or 100% deductible from business income. Which number is correct, and can she also give cash gifts to employees?

Health Insurance Deduction For Self-Employed
There are many reasons why being self-employed isn’t for everyone, not the least being you’re responsible for buying your own health insurance. You can however, take a deduction from your taxable income on your 2019 tax return for health insurance premiums paid.

Selling Your Business
Will you sell your business in the next couple of years? If you plan to, the steps you take now can help you get the most for your firm.

December 2019 Q & A
Let's discuss student loan repayment, and changes to alimony payments from a tax perspective.

December 2019 Short Bits
The U.S. Bureau of Labor Statistics (BLS) is reporting a slow down in job growth, but spending is up.

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Trusts and Taxes
Ever wonder why people put some or all of their assets into trusts? Some affluent financial consumers use trusts for their estate tax advantages, but anyone can benefit from the privacy and control a trust can offer. Here’s what you need to know.

Continuing the Family Business
If you have an asset-rich, cash-poor family business that you hope will eventually pass to loved ones, putting the entity into the right type of trust may spare your heirs from needingto conduct a fire sale to distributethe assets.

When Safe is Best
When investment markets are volatile or declining, investors and savers flock to more predictable, less volatile instruments like money market mutual funds, bank money market accounts and bank Certificates of Deposit (CDs). But these savings and investing vehicles are not the same.

November 2019 Client Profile
William’s business is tourist-dependent and earns most of its money during the warmer months. He has always filed his tax return based on the calendar year, but would like to change it to a fiscal year ending in October. What does he need to do?

How to Take Tax-Friendly RMDs
Before you retire, consider planning for your required minimum distributions (RMDs). This can be more complicated than you imagine if you have signicant retirement assets in qualified plans, such as 401(k) accounts and IRAs, but you can achieve a tax-friendly result with a little planning.

Keep Them or Dump Them?
How long should you keep your business income tax records?

November 2019 Q and A
Let's talk about estate taxes on inherted funds, and 401(k) plan testing.

November 2019 Short Bits
Everything is up! The Producer Price Index increased, and Americans are paying higher costs for a college education.


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Open Enrollment Tips For Employees
As summer turns to fall, employers across the country are getting ready to present their annual open enrollment options for employee benefits. As an employee, whether you’re a newbie or an experienced hand at choosing employee benefits, it is crucial to do your homework before making your selections.

Tax Issues in Divorce
Divorce is emotionally painful, and it can also hurt financially. From splitting retirement and other assets to negotiating child and spousal support, there are tax and financial landmines that forethought and planning can help you avoid.

October 2019 Client Profile
Amy is giving her employees large year-end bonuses in December for increasing sales, and some employees asked about putting their bonuses into their 401(k) plan. Can they, and what does she have to do to allow these lump-sum contributions?

Surviving A Bear Market
In the wake of a record stock market, the last thing most investors think of is a coming bear market. Expect one, though, because history shows that what goes up almost always comes down. The steps you take now will determine how well you survive the next bear market.

Get Ready For Small Business Saturday
While Black Friday – the day after Thanksgiving – has become one of the biggest sales events of the year for the largest retailers, small business owners look forward to Small Business Saturday – the next day - as one of their busiest days. If you own a small business, here’s how you might position yourself for success that day.

October 2019 Q and A
Let's talk business credit and Alternative Minimum Tax.

October 2019 Short Bits

3 Tips for Employers
If you’re ready to offer your employees open enrollment for benefits, your planning should mostly be done at this point. Even so, consider tightening up the following three communication areas to make sure your open enrollment is a success.

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That's Life
When you buy life insurance, you plan for the worst and hope for the best. During this Life Insurance Awareness Month, consider the many reasons to own and periodically review this important financial protection.

More Go Solo
More than 25.5 million taxpayers who filed individual 2016 income tax returns reported non-farm sole proprietorship activity. That’s a 1.2%
increase from 2015.

Is Fire Right For You
A relatively old idea with a new name is gaining increased interest among Millennials. Proponents of FIRE — Financial Independence, Retire Early — work toward early retirement by reducing spending during their working lives to build the funds needed for future financial freedom. While this austere, strict saving philosophy may not be for everyone, some of its principles may help those looking to meet ambitious financial goals.

September 2019 Client Profile
Rick used to offer a Flexible Spending Account (FSA) to employees, but discontinued it after establishing a Health Savings Account (HSA). Now his employees are asking for the FSA, in addition to the HSA, to cover dental and eye care expenses. Can he do both?

What's My Line
Does your business have a line of credit (LOC)? If not, does it need one? If you’re a newbie when it comes to this financing vehicle, here’s what you need to know.

Meet The Simplified Employee Pension (SEP)
With open enrollment season upon us and the end of the tax year coming for most businesses, now is a good time to explore your company’s current or future retirement plan options. For sole proprietors and smaller businesses, a Simplified Employee Pension (SEP) is often among the most attractive options.

September 2019 Q & A
Let's talk about credits for health insurance, and qualifying for aid.

September 2019 Short Bits
Things are looking up - including HSA limits, income, and workforce age!


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