Each year, certain tax figures are adjusted for inflation. While most figures are unchanged versus 2016, there is more than a 7% increase to the maximum earnings subject to social security tax.
If you are expecting a tax refund, you might consider investing your refund or using it to increase your financial security. While everyone’s needs are different, here are some optional uses of your refund that may work for you.
Whether you drive your vehicle in your own business or reimburse your employees for business mileage, you’ll need to revise the rate you use in 2017.
A health reimbursement arrangement, or HRA, is a benefit plan you can offer to your employees to reimburse them for medical expenses that are not covered by an insurance plan. HRAs offer tax benefits, including the deductibility of contributions you make to your employees’ accounts.
We’d like to introduce you to Jordan Lance, CFP, who serves as an Investment Advisor Representative at Whitcomb & Hess.
By the time you read this article we will be less than two weeks away from Donald Trump’s inauguration.
With winter now here and the holidays in the rear-view mirror, the markets also shared in the holiday cheer with a positive (but uneventful) December.
