Newsletter

/Newsletter

Five Ways to Minimize your Tax Liability

By | 2018-09-10T05:26:04+00:00 September 10th, 2018|Categories: Newsletter, Newsletter September 2018|Tags: |

If you want to save money on your tax bill next year, consider using one or more of these tax-saving strategies that reduce your income, lower your tax bracket, and minimize your tax bill. 1. Max out your 401(k) or Contribute to an IRA You've heard it before, but it's worth repeating because it's one of [...]

Comments Off on Five Ways to Minimize your Tax Liability

Succession Planning: Strategies for Leaving a Business

By | 2018-09-10T05:26:08+00:00 September 10th, 2018|Categories: Newsletter, Newsletter September 2018|Tags: |

Selecting your business successor is a fundamental objective of planning an exit strategy, but it requires a careful assessment of what you want from the sale of your business and who can best give it to you. There are four ways to leave your business: transfer ownership to family members, Employee Stock Option Plan (ESOP), sale [...]

Comments Off on Succession Planning: Strategies for Leaving a Business

2018 Inflation Adjustments Updated under Tax Reform

By | 2018-09-10T05:26:14+00:00 September 10th, 2018|Categories: Newsletter, Newsletter September 2018|Tags: , |

Tax year 2018 annual inflation adjustments have been updated to reflect changes from the Tax Cuts and Jobs Act (TCJA). These tax year 2018 adjustments are generally used on tax returns filed in 2019. The tax items affected by TCJA for tax year 2018 of greatest interest to most taxpayers include the following: The standard deduction [...]

Comments Off on 2018 Inflation Adjustments Updated under Tax Reform

October 1 Deadline for Establishing SIMPLE IRA Plans

By | 2018-09-10T05:26:18+00:00 September 10th, 2018|Categories: Newsletter, Newsletter September 2018|Tags: , |

Of all the retirement plans available to small business owners, the SIMPLE IRA plan (Savings Incentive Match PLan for Employees) is the easiest to set up and the least expensive to manage. The catch is that you'll need to set it up by October 1st. Here's what you need to know. What is a SIMPLE IRA Plan? SIMPLE IRA Plans [...]

Comments Off on October 1 Deadline for Establishing SIMPLE IRA Plans

Small Employer Health Reimbursement Arrangements

By | 2018-09-10T05:26:22+00:00 September 10th, 2018|Categories: Newsletter, Newsletter September 2018|Tags: |

Small employer HRAs or QSEHRAs (Qualified Small Employer Health Reimbursement Arrangements) allow small businesses without group health plans to set aside money, tax-free, for employees to use toward medical expenses--including the cost of buying health insurance. Here's what you need to know about QSEHRAs. Background Included in the 21st Century Cures Act enacted by Congress on [...]

Comments Off on Small Employer Health Reimbursement Arrangements

Retirement Saving Tips

By | 2018-09-10T06:20:56+00:00 August 10th, 2018|Categories: Newsletter, Newsletter August 2018|

Though it's never too late to start, the sooner you begin saving, the more time your money has to grow. Gains each year build on the prior year's gains--that's the power of compounding--and the best way to accumulate wealth. Set Realistic Goals. Project your retirement expenses based on your needs, not rules of thumb. Be honest [...]

Comments Off on Retirement Saving Tips

Managing Cash Flow is Key to Business Success

By | 2018-09-10T06:21:03+00:00 August 10th, 2018|Categories: Newsletter, Newsletter August 2018|

Cash flow is the lifeblood of every small business but many business owners underestimate just how vital managing cash flow is to their business's success. In fact, a healthy cash flow is more important than your business's ability to deliver its goods and services. While that might seem counterintuitive, consider this: if you fail to satisfy [...]

Comments Off on Managing Cash Flow is Key to Business Success

Understanding the Net Investment Income Tax

By | 2018-09-10T06:21:25+00:00 August 10th, 2018|Categories: Newsletter, Newsletter August 2018|

While the Net Investment Income Tax (NIIT) tends to affect wealthier individuals most often, in certain circumstances, it can also affect moderate-income taxpayers whose income increases significantly in a given tax year. Here's what you need to know. What is the Net Investment Income Tax? The Net Investment Income Tax (NIIT) is a 3.8 percent tax [...]

Comments Off on Understanding the Net Investment Income Tax

Small Business Financing: Securing a Loan

By | 2018-09-10T06:21:30+00:00 August 10th, 2018|Categories: Newsletter, Newsletter August 2018|

At some point, most small businesses owners will visit a bank or other lending institution to borrow money. Understanding what your bank wants, and how to properly approach them, can mean the difference between getting your money for expansion and having to scrape through finding cash from other sources. Unfortunately, many business owners fall victim to [...]

Comments Off on Small Business Financing: Securing a Loan

Safeguarding Financial Records

By | 2018-09-10T06:16:35+00:00 August 5th, 2018|Categories: Newsletter, Newsletter August 2018|

Natural disasters such as hurricanes are more common in summer, but tornadoes, floods, and fires can strike at any time. As such, it's always a good idea to plan for what to do in case of a disaster. Here are some basic steps you can take right now to prepare: 1. Backup Records Electronically. Many people receive [...]