Newsletter Archive



Lighten Your Tax Load and Save More
Need to save more for retirement? Both traditional and Roth IRAs can help you get there, and both offer tax advantages. Better yet, you have until your tax filing deadline to contribute to a traditional IRA and have it count as a potential deductible contribution for tax year 2018.

Know Your Benefits Limits
If your business offers its employees a retirement plan and other benefits, you should be aware of increases to contribution and income limits for tax year 2019 due to an inflation adjustment. Here’s a look at some of them:

February 2019 Client Profile
Randall owns an S corporation and learned that he may be eligible to take a pass-through tax deduction, a new tax feature included in the most recent federal tax legislation. What is it and how might it apply to him?

When Disaster Strikes Your Business
If a catastrophic event damages or disrupts your business, lost or destroyed tax records can add to your stress. The IRS suggests some steps you can take to deal with them if a disaster strikes.

Pieces To The Retirement Puzzle
Individuals may have singular needs, but past history and a few surveys show many retirees have a few common ones, too. Here’s a look at two of them.

February 2019 Q and A
Let's discuss annuities, and filing estimated quarterly taxes for a new business.

February 2019 Short Bits
Let's review short bits on the state of retirement accounts and the economy.

February 2019 Insights and Tips
Business Taxes - Business owners should keep an eye out for some tax features that may not last long.

Read More

Year-End Tax Planning Ideas
At the end of every year, Americans rush to make money moves that can reduce their tax liabilities. As 2018 comes to a close, consider these moves to reduce your tax bill and put more money in your pocket.

Taking Care of Business
The end of the year is a good time to tidy up loose tax ends and fine-tune your tax planning strategies to maximize business net income. Here are three ways to make your company’s financial picture look brighter today and tomorrow.

All In The Family (Part 2)
In the last issue of ClientLine, we talked about the foundation family businesses need to turn family members into eventual company owners. This issue, we’ll examine three ways business owners and their trusted advisors can work together to achieve this financially, short of buying the company with ready cash (with its various tax implications).

December 2018 Client Profile
Mark runs a small architectural firm in a North Carolina region that Hurricane Florence flooded badly, and he hasn’t been able to file his company or individual federal taxes, including his 2018 third-quarter estimated tax returns. Will he still owe a penalty when he files and pays?

And The Magic Number Is?
Most retirees face the same choices when nearing retirement: Do they take early Social Security payments, which will be smaller but received over more years? Or will they wait and begin payments between normal retirement age and 70, which would mean larger payments over a shorter time? While you should see your financial pro for guidance, the following provides an overview:

Slicing The Inheritance Pie
How do you fairly treat family members who aren’t involved with the business when other family successors inherit your company? If estate equalization is the goal, life insurance can help you get there cost-efficiently.

December 2018 Q and A
Let's talk year-end tax planning strategies.

December 2018 Short Bits
Employees in their 20s have more target-date funds (TDFs) and other balanced types of mutual funds than older employees do. For many younger investors, the last recession was their introduction to investing.

Read More

All in the Family
Running a business is tough enough without the challenge of working with loved ones, but that is what family businesses deal with every day. If you are a family business owner, how do you keep the business and personal sides of your life separate while also grooming family members to succeed you? Start by communicating with your work/life partners.

Planning for Tomorrow
When business owners want to sell their companies to nonfamily purchasers, they have a number of ways to achieve this goal.

A Flexible Line of Credit
Need to manage cash flow or inventory levels? Cover an unexpected repair? Then a business line of credit probably makes sense. If you’re looking to open your first business line of credit, you should understand what it is and your choices.

November 2018 Client Profile
Lucy and Bill regularly give to charity and have benefitted from tax deductions on their donations in the past. Now, with the new tax changes, can they still claim a charitable deduction if they don’t itemize on their tax return?

Educational Gift Ideas
As the holiday season approaches, you could buy your children a cell phone or video game controller. Or you can celebrate the season while teaching loved ones the value of a dollar by giving them a financial gift that lasts for years and helps establish good money habits. Consider the following age-appropriate ideas:

Life Happens
As unpleasant as it is to think about, there is a chance that the need to provide for your family could last longer than your ability to do so. If you understand the value of life insurance but find the choices challenging, the following introduction may help:

November 2018 Q & A
Let's talk about the IRS and the new tax laws.

November 2018 Short Bits
The Producer Price Index (PPI) increased 3.3% for the 12 months ending July 2018. The PPI measures the average change over time in the prices received by domestic producers, or wholesalers, for their output. Movement in this indicator could prove an early sign of increasing (or falling) consumer prices.

 

Read More

Tax Harvesting
No one likes to lose money, but the good news is that certain investment losses may be tax-deductible, so this is a good time of year to get an idea about how your investments are performing.

How Long is Enough?
When it comes to records, some are more important to keep than others. If you own a business, here is a look at some records you might want to hold on to for a while.

A Balanced Approach to Retirement
If you’re like many business owners, you may wonder how to leverage your business to maximize your retirement savings efforts. A cash balance plan may be one option, especially for highly paid principals and key executives of small corporations, partnerships and LLCs.

October 2018 Client Profile
Jerry is the owner of an architectural firm. He is 50 years old and wants to work past normal retirement age, but he wants to continue saving for an eventual retirement. Jerry wants to know if he is still required to take required minimum distributions at age 70½ if he is working.

A Trust For Disabled Individuals
A special needs trust, also known as a supplemental trust, is a legal document created by the family or guardians for the benefit of a disabled person who cannot manage their own finances. These trusts are designed to provide assets for the health and welfare of disabled individuals, often without jeopardizing government assistance such as Supplemental Security Income(SSI), Medicaid and other programs.

Special Needs, Special Savings
While parents have a variety of tax-advantaged ways to save for their children’s educational needs, they haven’t always enjoyed the same tax benefits when saving for the future of their special-needs children. The Achieving a Better Life Experience Act (ABLE) of 2014 provides such an opportunity.

October 2018 Q & A
Let's talk tax deductions and college planning under the recent tax reforms.

October 2018 Short Bits
The Bureau of Labor Statistics reports that private industry workers received an average of 15 paid vacation days after five years of service in 2017. The number of vacation days rises slowly with time, with workers receiving an average of 17 days after 10 years and 20 days after 20 years.

Read More