BENEFIT WITH A TWIST: THE ROTH 401(K)

By | May 20th, 2020|Accounting and Auditing, Retirement, Taxation, Uncategorized|

Most everyone has heard of a 401(k) plan, and a sizable number of adults likely have at least a passing familiarity with the Roth IRA.  What remains less well known among job candidates and employees is the Roth 401(k) plan.  This retirement benefit with a twist might be worth offering to your staff, so long [...]

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THE 2019 GIFT TAX RETURN DEADLINE IS ALMOST HERE, TOO

By | March 2nd, 2020|Accounting and Auditing, Business, Estate planning, Retirement|

Most people have April 15 “tattooed on the brain” as the deadline for filing their federal income tax returns.  What you may forget is that the gift tax return deadline is one the very same date.  So, if you made large gifts to family members or heirs last year, it’s important to determine whether you’re [...]

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CAREFUL TAX PLANNING REQUIRED FOR INCENTIVE STOCK OPTIONS

By | February 17th, 2020|Accounting and Auditing, Business, Estate planning, Retirement, Uncategorized|

Incentive stock options (ISOs) are a popular form of compensation for executives and other key employees.  They allow you to buy company stock in the future at a fixed price equal to or greater than the stock’s fair market value on the ISO grant date.  If the stock appreciates, you can buy shares at a [...]

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LIVING THE DREAM OF EARLY RETIREMENT

By | November 25th, 2019|Accounting and Auditing, Estate planning, Retirement, Taxation|

Many people dream of retiring early so they can pursue activities other than work, such as volunteering, traveling and pursuing their hobbies full-time.  But making this dream a reality requires careful planning and diligent saving during the years leading up to the anticipated retirement date. It all starts with retirement savings accounts such as IRAs [...]

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ACT NOW TO SAVE 2019 TAXES ON YOUR INVESTMENTS

By | November 18th, 2019|Accounting and Auditing, Estate planning, Retirement, Taxation|

Do you have investments outside of tax-advantaged retirement plan? If so, you might still have time to reduce your 2019 tax bill by selling some investments – you just need to carefully select which investments you sell. BALANCE GAINS AND LOSSES If you’ve sold investments at a gain this year, consider selling some losing investments [...]

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IS “BUNCHING” MEDICAL EXPENSES STILL FEASIBLE IN 2019?

By | October 14th, 2019|Accounting and Auditing, Retirement, Taxation|

Some medical expenses may be tax deductible, but only if you itemize deductions and you have enough expenses to exceed the applicable floor for deductibility.  With proper planning, you may be able to time controllable medical expenses to your tax advantage. The Tax Cuts and Jobs Act (TCJA) made bunching such expenses beneficial for some [...]

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