Newsletter Archive



Financing Your Business
Many small businesses depend on access to financing in order to grow, but their financing options will vary. Here’s what you need to know if you’re exploring how to finance a business need.

More Savings!
If you missed the announcement of higher retirement plan limits for 2020, here’s another look at some of them.

Loan Consequences
If your company offers a 401(k) plan loan, it can be among your most cost-effective options for short-term needs (five or fewer years). However, these loans come with potential drawbacks. Before you take money from your 401(k), understand all the consequences.

March 2020 Client Profile
Elijah is an employee of a technology company and also has his own company on the side. He has contributed to a 401(k) plan for each job. Now he learned he contributed too much and could owe penalties. What should he do?

Taxes, Retirement and You
Many people nearing retirement consider moving to Sunbelt States like Florida and Nevada for both the weather and lack of state income taxes. However, all states have a variety of taxes, so look beyond income taxes and then take another look at your total tax picture.

A Primer on Excise Taxes
The sheer number of taxes companies must pay surprises many new business owners. They can be assessed for unemployment, Social Security and a variety of excise taxes, to mention a few. The latter affects businesses dealing with everything from sports wagering and gasoline to indoor tanning and tire sales. They are imposed by some states as well as the federal government.

Whether you’re a new business owner or plan to start a company, you need to understand excise taxes.

March 2020 Q and A
Let's talk trusts, and whether leasing or buying new equipment is a good option for your new business.

March 2020 Short Bits
Let's review some statistics on retirement, charities, homeownership, and labor market.

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Tax Numbers To Know
Throughout this newsletter, we’ll focus on numbers you need to know for tax year 2019 and offer a sampling of what’s ahead for 2020. Consult a tax professional for personalized help.


5 Reasons To Work With a Tax Professional
To help ensure you use every tax deduction to which you’re legally entitled is to work with a knowledgeable tax professional. Here are five reasons this partnership can pay off, not only with this year’s taxes but possibly with future tax bills as well.


February 2020 Client Profile
Miriam owns a bakery and her business recently received a tax audit letter from the IRS. How far back will the Internal Revenue Service want to examine her tax returns? What will she need to do to resolve her tax situation?

Tax Tips For Individuals
With time left before the April filing deadline, it makes good financial sense to recheck for don’t miss deductions and credits that can lower your tax bill. One caveat: You will have to choose between taking the standard deduction and itemizing individual deductions.

Tax Tips For Businesses
If you own a sole proprietorship or a company and you file taxes on a calendar basis, you will want to take all of the deductions to which you are legally entitled. Here are a few:


February 2020 Q and A
Let's discuss filing an amended return and traditionanl IRAs.

February 2020 Short Bits
Ever wonder how other Americans fare with their refunds during tax season?


Big Income, Big Taxes
The IRS issued a final ruling explaining how to qualify for a real estate income safe harbor to receive the Qualified Business Income (QBI) deduction. You will need to make this safe harbor determination annually.

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Tax Credits or Deductions
During this tax season, it can pay to understand the two types of tax breaks the IRS offers. The first includes tax deductions, which reduce your taxable income before determining your tax bill. The second is a tax credit, which reduces any taxes you owe. Both can help reduce your 2019 tax bill, whether you file as an individual, a business or both.

Real Estate & QBI
The IRS issued a final ruling explaining how to qualify for a real estate income safe harbor to receive the Qualified Business Income (QBI) deduction. You will need to make this safe harbor determination annually.

Get Ready To File Your Taxes
The beginning of another year means it’s time to get ready for the annual task of ling your tax returns. Whether you you file as an individual, a business or both, you can get a head start by working with a tax professional to nd every tax break to which you’re entitled.

January 2020 Client Profile
Ray recently received a letter from the IRS, saying that he underpaid his 2017 taxes by a few thousand dollars, which he wants to dispute. What are his next steps? Can his tax professional help him resolve this dispute with the IRS?

Resolve To Become More Competitive
Business owners typically have little time for planning. However, making that time during this New Year — and new decade — can help most businesses become more competitive now and in the future.

Resolve To Become More Financially Secure
Many people make resolutions to coincide with the advent of the New Year, including becoming more financially secure. If you want to improve your financial outlook, now is a good time to take steps to achieve this goal.

January 2020 Q and A
Let's talk IRS scams, and tax deductions for contributions to a Simplified Employee Pension.

January 2020 Short Bits
Few employers are “very confident” their employees are on the way to becoming retirement-secure, according to the report, “Employers: The Retirement Security Challenge,” from the Transamerica Center for Retirement Studies.

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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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