Is Your Child Starting College? Here Are Some Tax-Saving Tips.
Like many parents and grandparents, you might have a tax-favored account to help your child or grandchild through college. A 529 plan is a common example that many use to
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The New SECURE 2.0 ACT Could Change Your Business’ Retirement Plan
No matter if your small business has a retirement plan there could be potential changes and benefits from a new law. The Setting Every Community Up for Retirement Enhancement 2.0
Tax-Saving Strategies For Building An Education Fund
If you’re a parent or grandparent, you may want to save to fund future education costs for your college-bound children. Several approaches are detailed below to help you decide which
Employers: Beware of Employee Retention Credit (ERC) Claims That Are Too Good To Be True
During the height of the COVID-19 pandemic, the Employee Retention Credit (ERC) was a valuable tax credit that helped employers keep workers on staff. And while the credit is no
The SECURE 2.0 Act’s Retirement Plan Changes
While many of its provisions don’t kick in for a few years, the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act was signed into law on December 29,
The New IRS Standard Business Mileage Rate For 2023
While the national price of gas is currently lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of operating an automobile
IRS Updates Frequently Asked Questions About Form 1099-K
On Dec. 23, 2022, the IRS announced calendar year 2022 will be treated as a transition year for the reduced reporting threshold of more than $600. Third-party settlement organizations who
Tax Traps When Renting To A Relative
Are you considering renting your home to a relative? If so, you might be surprised to find out there could be tax consequences. Quick Rundown Of The RulesRenting out a
Reduce The S Corporation Last In, First Out (LIFO) Recapture Tax
Are you considering converting your C corporation to an S corporation? If so, be aware there may be tax implications if you’ve been using the LIFO inventory method. That’s because
Get The Most Out Of Your 401(k) While Saving For Retirement
To achieve your retirement goals with reduced tax obligations, you may chose defer money in a tax-advantaged retirement plan. Contributing to a 401(k) or Roth 401(k), if offered by your