Understanding Tax-Deferred Investing
When you are attempting to defer the taxability of a capital gain, save money for your children’s future education or plan your retirement finances, you may do so in several…
eNewsletter
Common Family Tax Mistakes
Volume 11 Issue 1, eNewsletter
When it comes to transactions between family members, the tax laws are frequently overlooked, if not outright trampled upon. The following are some commonly encountered situations and the tax ramifications…
Important Information for S-Corp Shareholders and Partners of a Partnership
Volume 11 Issue 1, eNewsletter
There is an important issue related to filing the 2022 S-corporation (Form 1120-S) and partnership (Form 1065) tax returns that requires the cooperation of the shareholders and partners. Background: The…
Your Annual Reminder to File Worker 1099s
This is our annual reminder that if you use workers other than employees to perform services for your business and pay them $600 or more for the year, you are…
Should You Upgrade Your Homeowners Insurance?
Volume 10 Issue 3, eNewsletter
During the first year of the pandemic, many homeowners spent their downtime upgrading their homes. 2020 alone saw a three percent uptick in spending on home improvements – to the…
Stock Splits, Explained
Volume 10 Issue 3, eNewsletter
Imagine selling slices of a large pizza. You can cut it into four even slices and charge $2 a slice. Or, you can cut it into eight even slices and…
10 Red Flags for IRS Audits
Volume 10 Issue 3, eNewsletter
Even though the overall IRS audit rate is currently low historically, it’s expected to increase as a result of provisions in the Inflation Reduction Act signed into law in August….
First-Year Bonus Depreciation and Sec. 179 Expensing: Watch Out For Potential Pitfalls
Volume 10 Issue 3, eNewsletter
Many companies are eligible for tax write-offs for certain equipment purchases and building improvements. These write-offs can do wonders for a business’s cash flow, but whether to claim them isn’t…
How to Manage Your Aging Parents’ Finances
Volume 10 Issue 2, eNewsletter
Taking over your aging parents’ finances is not easy. But it’s something that can be handled in an organized, compassionate way. Here’s a roadmap that shows how to embrace it…
New Required Minimum Distribution Rules for 2022
Volume 10 Issue 2, eNewsletter
Starting in 2020, new legislation increased the age to begin Required Minimum Distributions (RMDs) from 70½ to 72. More recently, the IRS updated the Uniform Life Table for alignment with…