Blog
Year-End Tax Planning; What Documents Should You Gather?
As we approach the end of another calendar year, it's time to consider taxes due for this year and develop a strategy to reduce your tax bill before December 31st.
August 2016 Market Insight
After strong gains in July, markets cooled off in August, with most popular indexes coming in relatively flat for the month. The one exception to this was the Russell 2000 (US small cap stocks)...
How to Live Within Your Means in Retirement
Looking back over advice I've given clients and blogs that I've written for our website, I realize there are a few topics that keep rising to the top. Call me crazy, but I really like educating people on retirement planning...
FSA or HSA? Choosing between health accounts
Are you confused about your choices for paying medical expenses under your employer's benefit plan? Here are differences between two types of commonly offered accounts: a health savings account (HSA) and a health care flexible spending account (FSA).
Consider these financial tips in troubling economic times
Reacting badly to bad national economic events can turn a challenging situation into a devastating one. When troubling headline news comes your way, consider these tips before making financial moves.
IRS sets 2017 HSA limits
The IRS announced inflation-adjusted limits for deductible contributions to health savings accounts (HSAs) for 2017. For family coverage, the contribution limit will be $6,750, and for individual coverage, the limit will be $3,400.
Life changes call for a tax tune-up
Summer can be a time for life changes. Marriage, a school-break, job change or entrepreneurial venture, a move to a new home - all of these major events call for tax planning.
Will your student loans affect your tax return?
If you have student loans to repay, you may be wondering how that debt will affect your tax return. While repayment of the principal portion of your debt is not tax deductible, you can take an above-the-line deduction for up to $2,500 of interest...
3 Simple Tips to Keep Your Budget on Track
As we enter the back-half of the year, fatigue may creep in. It's been a long, hot summer and you may be tired from all of the home improvement projects, the constant shuffling from one activity to the next, or even unforeseen expenses that threw a wrench into your budget.
July 2016 Market Insight
Where do most people typically invest? Usually, it's in their own back yard.
Plan for the fate of your digital assets
An important step in estate planning is creating an inventory of your assets.
Get organized and improve your business
The art of placing information in a logical order, more prosaically called organization, is key to the efficiency of your business, which can in turn increase productivity. Fortunately, you can master the art of organization by making habits out of simple techniques.
Avoid penalties by keeping accurate information return records
Did you file all required information returns for 2015 and earlier years? Information returns include Forms 1099, the forms you complete when you pay for certain business expenses such as rent or services performed by an independent contractor.
Six Year-round Tips to Lower your Taxes
Waiting until tax time to try to lower your taxes is usually not the most effective way to accomplish your objective. Between now and the end of the year, try some of these ideas and you just might save yourself a few (thousand) dollars at tax time.
Do you need to file Form 5500-EZ?
If your business has a one-participant retirement plan such as a solo 401(k) - for example, if you own the entire business and the plan covers only you, or you and your spouse - you may be unaware that you can have tax filing responsibilities.
Follow these suggestions for a comfortable retirement
Planning for a comfortable retirement involves coordinating many moving parts. But you can begin by setting up a broad outline and filling in the details once you've taken the first steps.
Investing During Retirement and Avoiding Uncle Sam’s Tax Booth, Part 2 of 3 in a Series
People usually spend thirty to forty years saving and investing for retirement. Many become very familiar with the tax rules as they grow their accounts and keep taxes as low as possible during their working years. Then retirement comes and...
Recap from the Chicago Morningstar Investment Conference
Every year, Morningstar, an independent investment research firm, hosts a conference near their headquarters in Chicago. Financial advisors and mutual fund representatives from all over the country come to discuss the current economic environment and...
Investment Update
For the calendar year 2016, the S&P 500 Index is up 3.84%. As you can see from the chart below, which shows performance year to date, the index has rebounded from its February lows. The 10% decline that ended in February has been recovered.
Are you at risk of an audit?
According to recent statistics, budget cuts, staff attrition, and a heavy workload for IRS employees mean your chances of undergoing a tax audit are less than 1%.
Will you be ready for the new overtime pay rules?
In May, the Department of Labor updated the rules for paying overtime. Under the new rules, salaried employees who earn less than $913 per week ($47,476 per year) will be eligible for overtime pay. That’s double the annual exempt amount of $23,660 from previous rules.
Follow these steps to a comfortable retirement
Planning can help you achieve a comfortable retirement. Here are five suggestions to consider.
Understand basis to save tax dollars
Basis is an important tax concept. The most recent reminder of the importance of getting basis right is the 2015 law that requires executors of some estates to report basis...
Retiring this summer? Plan for estimated tax payments.
Early retirement, delayed retirement, phased retirement - if you've decided this summer is your time to leave the workforce, you have decisions to make. One of them
Report your foreign financial accounts by June 30
June 30, 2016, is the deadline for filing the 2015 Form 114, Report of Foreign Bank and Financial Accounts, known as the FBAR.
Are You Managing Your Retirement Account Correctly?
Retirement accounts are massively important - once you stop working full time, they become your new source of income. But they are also important during your working years.
Did you get your new “chip” card?
The latest credit cards have a new feature: a half-inch square on the card's face that looks like a mini circuit board.
Make June business tax planning time
Looking for suggestions to reduce your 2016 business tax liability? Here are three tips to consider as summer gets underway.
May 2016 Market Insight
As the weather has warmed and plants have begun to blossom, US markets have also started to show signs of life..
Your business may qualify for this extended tax break
The Work Opportunity Tax Credit gives employers a tax credit for hiring veterans and others who are members of “target” groups.
2021 Archive
2020 Archive
