October 24 2018

Which Is It? Pay Less Taxes, Spend More Time with the Love of Your Life or Both?

Someone said to me the other day, “Growing up has been really hard. I liked it when I was a kid!”  It was spoken during a discussion about all the responsibilities associated with owning and managing a business or professional practice. So why can’t ...

August 22 2018

Make Defined Benefit Plan Contributions By September 15, 2018 Even Though It’s a Saturday

You might be aware that if the due date for a tax return occurs on a weekend or holiday, that due date is moved to the next business day. This has happened a couple of times in recent years with the dreaded April 15 due date for personal tax returns ...

April 25 2018

Advice for How to Get Your Financial House in Order

The recent weather reminded us that it is indeed spring and time for spring cleaning. Last week’s federal tax deadline was a reminder that as we pull our tax paperwork together, now is the perfect time to focus our spring cleaning attention to our fi...

April 18 2018

How Donors Can Leverage the IRA Qualified Charitable Distribution for Smart Financial Giving and Harness the Impact of the 2017 Tax Cuts and Jobs Act

With the passage of the 2017 Tax Cuts and Jobs Act (TCJA), there are changes that impact charitable giving. More specifically, individual donors and nonprofits can leverage TCJA to make smarter philanthropic contributions with the Qualified Charitabl...

February 06 2017

For Big Tax-Deductible Contributions, Consider a Defined Benefit Plan

Small business owners who are looking for tax-deductible retirement contributions greater than those available in a 401(k) plan should consider adopting a defined benefit (DB) plan. 

October 20 2016

Social Security Benefits to Get a (Very) Slight Bump in 2017

Retirees on Social Security may soon be able to afford an extra cup of coffee or sandwich each month, but not much else.  The Social Security Administration announced this week that monthly Social Security and Supplemental Security Income (SSI) benef...

September 10 2015

Top Tax Issues for 2016

As the September 15 tax extension deadline looms, many business owners will start planning for 2016 and the many challenges that exist in running a business.  Among the biggest headaches continues to be the Affordable Care Act (ACA) – no wonder that ...

June 18 2015

Considering a 401(k) Plan for 2015?

If you are considering setting up a 401(k) plan for 2015, you may not have as much time as you think.  October 1st is the deadline for implementing a safe harbor 401(k) plan this year.  Safe harbor design – whether a match or nonelective contribution...

April 13 2015

How to decrease taxable income

As the April 15 income tax return deadline approaches, many individuals and business owners are wondering how to decrease taxable income and are looking for ways to reduce taxes.  While it is best practice to consult a knowledgeable CPA or Enrolled A...

March 30 2015

Affordable Care Act tax bill

As the 2014 tax season is coming to a conclusion, we’re getting a first glimpse of how much revenue the Affordable Care Act (ACA), or ObamaCare, is generating for the government.  The IRS has released data for the first year that the Medicare surchar...