Newsletter September 2018

//Newsletter September 2018

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 [...]

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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 [...]

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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 [...]

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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 [...]

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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 [...]

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