Newsletter Archive

Taxes in Retirement
Retirement is something almost all of us look forward to. But have you considered how your retirement income will be taxed? Not all retirement income is taxed the same, so it is important that you understand the details.

Succession Planning
Don’t fail to plan for what will happen to your business when you retire. Perhaps your partner wants to buy you out or you want to leave the business to heirs.

The Cost of New Hires
Hiring employees is fundamental to business. Whether looking to hire your first employee or expand your team, be sure to understand the total cost of hiring help.

February 2021 Client Profile
Elizabeth gave her brother $10,000 for a down payment on a house and is considering giving him another $10,000 to help with renovations. Will either of them owe gift tax on these amounts?

How Business Losses Affect Your Tax Return
Many businesses may have incurred a loss in 2020 due to the pandemic-induced economic slowdown. When expenses exceed revenue, a loss is generated. How these losses affect your business tax return depends on many factors.

Is Your Hobby a Business or Is Your Business a Hobby?
Everyone has hobbies and sometimes those hobbies provide some income. But when does your hobby become a business? Getting the right classification determines how this income is taxed.

February 2021 Question and Answer
Let's discuss taxes on income earned in other countries, and deducting tuition.

February 2021 Short Bits
A recent study by the FDIC found that 95% of American households had a bank or credit union account in 2019.

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Home Ownership Comes With Tax Breaks
Your house can provide you with more than just shelter. It can provide you with some significant tax breaks if you itemize deductions. Learn more about the most common tax deductions your home can deliver.

Get Prepared
Now’s the time to get your company’s books ready for tax time.

Estate Planning Checklist
Estate planning is the process that allows you to designate what happens to your assets when you become incapacitated or die. Using a checklist can help you get started.

January 2021 Client Profile
Josh is starting a new landscape business. He’s heard bits of information about various business structures, including sole proprietor, LLC and an S-Corp. Which of these forms of business would offer him the most tax advantages?

Start 2021 On Sound Financial Ground
A new year and a new start to your goals. Follow these helpful tips to get your year started on a sound foundation.

Build Lasting Relationships With a Loyalty Program
Do you know that it costs five times more to attract a new customer, than it does to retain an existing one?* That is just one reason why companies focus their efforts on customer retention.

January 2021 Question and Answer
Sold your home or had a ride share gig last year? Let's talk taxes.

January 2021 Short Bits
Things are looking up, at least for the standard deduction, mortgage lending, and FICO scores.

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Nuts and Bolts of Depreciation
Depreciation is the allocation of the cost of a physical asset over its expected life. It’s a way of estimating how much of the asset has been used up. Depreciable assets include things like buildings, vehicles and equipment and there are a few ways to record depreciation on your tax return.

Unemployment, Side Gigs, and Tax
The pandemic has been front and center most of this year and it may have tax implications for you.

Improve Customer Service to Wow Your Clients
Taking your customer service up a notch can reap huge benefits. If you want to retain satisfied clients who help spread the word about your business, use these steps to wow them.

December 2020 Client Profile
Kara owns a consulting business and in 2021 her employees will be traveling out of state for work. She’s never had to reimburse employees for travel expenses so she’s wondering whether to give them a travel allowance or reimburse them for actual expenses.

End of Financial Year Tune Up
Reviewing where you stand financially before the end of the year means you can take advantage of tax-saving opportunities that end December 31, 2020 and then start financially strong in the New Year.

Track Your Dollars
Do you keep track of all the money you spend in a month? Tracking your expenses will help you take control of your financial life.

December 2020 Question and Answer
Let's talk moving expenses deductions, and what to do when you receive a notice from the IRS.

December 2020 Short Bits
A quick look at overtime and unemployment from the U.S. Department of Labor.

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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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