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Adopting a child? Bring home tax savings with your bundle of joy

By |2019-12-10T21:30:40+00:00December 10th, 2019|Latest News|

If you’re adopting a child, or you adopted one this year, there may be significant tax benefits available to offset the expenses. For 2019, adoptive parents may be able to claim a nonrefundable credit against their federal tax for up to $14,080 of “qualified adoption expenses” for each adopted child. (This amount is increasing to

What lenders look for in a succession plan

By |2019-12-10T21:25:40+00:00December 10th, 2019|Latest News|

Business owners are urged to create succession plans for the good of their families and their employees. But there’s someone else who holds a key interest in the longevity of your company: Your lender. If you want to maintain a clear path to acquiring the working capital your business may need after you’ve stepped down,

Look in the mirror and identify your company culture

By |2019-12-10T21:19:58+00:00December 10th, 2019|Latest News|

“Company culture” is a buzzword that’s been around for a while, but your culture may never have mattered as much as it does in today’s transparency-driven business arena. Customers, potential partners and investors, and job candidates are paying more attention to company culture when deciding whether to buy from a business or otherwise involve themselves

3 last-minute tips that may help trim your tax bill

By |2019-12-03T20:33:48+00:00December 3rd, 2019|Latest News|

If you’re starting to fret about your 2019 tax bill, there’s good news — you may still have time to reduce your liability. Three strategies are available that may help you cut your taxes before year-end, including: 1. Accelerate deductions/defer income. Certain tax deductions are claimed for the year of payment, such as the mortgage

Medical expenses: What it takes to qualify for a tax deduction

By |2019-11-27T16:48:50+00:00November 27th, 2019|Latest News|

As we all know, medical services and prescription drugs are expensive. You may be able to deduct some of your expenses on your tax return but the rules make it difficult for many people to qualify. However, with proper planning, you may be able to time discretionary medical expenses to your advantage for tax purposes.

What is your taxpayer filing status?

By |2019-11-21T15:34:15+00:00November 21st, 2019|Latest News|

For tax purposes, December 31 means more than New Year’s Eve celebrations. It affects the filing status box that will be checked on your tax return for the year. When you file your return, you do so with one of five filing statuses, which depend in part on whether you’re married or unmarried on December

Bridging the gap between budgeting and risk management

By |2019-11-21T15:24:27+00:00November 21st, 2019|Latest News|

At many companies, a wide gap exists between the budgeting process and risk management. Failing to consider major threats could leave you vulnerable to high-impact hits to your budget if one or more of these dangers materialize. Here are some common types of risks to research, assess and incorporate into adjustments to next year’s budget:

Using your 401(k) plan to save this year and next

By |2019-11-12T19:33:00+00:00November 12th, 2019|Latest News|

You can reduce taxes and save for retirement by contributing to a tax-advantaged retirement plan. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a taxwise way to build a nest egg. If you’re not already contributing the maximum allowed, consider increasing your contribution rate between now and year end.

Is multicloud computing right for your business?

By |2019-11-12T19:30:48+00:00November 12th, 2019|Latest News|

Cloud computing — storing data and accessing apps via the Internet — has been widely adopted by businesses across industry and size. Like many technological advances, though, new derivatives continue to emerge — including so-called multicloud computing. Under this approach, companies don’t rely on a single cloud service; rather, they distribute their data and computing

You may be ABLE to save for a disabled family member with a tax-advantaged account

By |2019-11-05T19:40:41+00:00November 5th, 2019|Latest News|

There’s a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose eligibility for government benefits to which they’re entitled. It can be done though an Achieving a Better Life Experience (ABLE) account, which is a tax-free account that can be used for disability-related expenses. Eligibility