Latest News

Didn’t contribute to an IRA last year? There still may be time

By |2021-02-26T22:07:46+00:00February 26th, 2021|Latest News|

If you’re getting ready to file your 2020 tax return, and your tax bill is higher than you’d like, there might still be an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA right up until the April 15, 2021 filing date and benefit from the tax

Should your business add Roth contributions to its 401(k)?

By |2021-02-26T22:05:35+00:00February 26th, 2021|Latest News|

If your business sponsors a 401(k) plan, you might someday consider adding designated Roth contributions. Here are some factors to explore when deciding whether such a feature would make sense for your company and its employees. Key differences Roth contributions differ from other elective deferrals in two key tax respects. First, they’re irrevocably designated to

Did you make donations in 2020? There’s still time to get substantiation

By |2021-02-19T15:30:41+00:00February 19th, 2021|Latest News|

If you’re like many Americans, letters from your favorite charities may be appearing in your mailbox acknowledging your 2020 donations. But what happens if you haven’t received such a letter — can you still claim a deduction for the gift on your 2020 income tax return? It depends. What is required To support a charitable

2021 individual taxes: Answers to your questions about limits

By |2021-02-12T15:00:09+00:00February 12th, 2021|Latest News|

Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. That’s understandable because your 2020 individual tax return is due to be filed in less than three months (unless you file an extension). However, it’s a good idea to acquaint yourself with tax amounts that

The many uses of a SWOT analysis

By |2021-02-12T14:57:25+00:00February 12th, 2021|Latest News|

Using a strengths, weaknesses, opportunities and threats (SWOT) analysis to frame an important business decision is a long-standing recommended practice. But don’t overlook other, broader uses that could serve your company well. Performance factors A SWOT analysis starts by spotlighting internal strengths and weaknesses that affect business performance. Strengths are competitive advantages or core competencies

The power of the tax credit for buying an electric vehicle

By |2021-02-05T18:27:18+00:00February 5th, 2021|Latest News|

Although electric vehicles (or EVs) are a small percentage of the cars on the road today, they’re increasing in popularity all the time. And if you buy one, you may be eligible for a federal tax break. The tax code provides a credit to purchasers of qualifying plug-in electric drive motor vehicles including passenger vehicles

Are your supervisors adept at multigenerational management?

By |2021-02-05T18:25:10+00:00February 5th, 2021|Latest News|

Over the past year, the importance of leadership at every level of a business has been emphasized. When a crisis such as a pandemic hits, it creates a sort of stress test for not only business owners and executives, but also supervisors of departments and work groups. Among the most important skill sets of any

Don’t forget to take required minimum distributions this year

By |2021-01-27T18:42:04+00:00January 27th, 2021|Latest News|

If you have a traditional IRA or tax-deferred retirement plan account, you probably know that you must take required minimum distributions (RMDs) when you reach a certain age — or you’ll be penalized. The CARES Act, which passed last March, allowed people to skip taking these withdrawals in 2020 but now that we’re in 2021,

View your financial statements through the right lens

By |2021-01-27T18:39:58+00:00January 27th, 2021|Latest News|

Many business owners generate financial statements, at least in part, because lenders and other stakeholders demand it. You’re likely also aware of how insightful properly prepared financial statements can be — especially when they follow Generally Accepted Accounting Principles. But how can you best extract these useful insights? One way is to view your financial

One reason to file your 2020 tax return early

By |2021-01-19T19:31:43+00:00January 19th, 2021|Latest News|

The IRS announced it is opening the 2020 individual income tax return filing season on February 12. (This is later than in past years because of a new law that was enacted late in December.) Even if you typically don’t file until much closer to the April 15 deadline (or you file for an extension),

Go to Top