Weathering the storm of rising inflation

By |2022-07-13T15:47:47+00:00July 13th, 2022|Latest News|

Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global economies. Is it time for business owners to panic? Not at all. As of this writing, a full-blown recession is possible but not an absolute certainty. And the impact of inflation

Five tax implications of divorce

By |2022-06-21T20:15:32+00:00June 21st, 2022|Latest News|

Are you in the early stages of divorce? In addition to the tough personal issues that you’re dealing with, several tax concerns need to be addressed to ensure that taxes are kept to a minimum and that important tax-related decisions are properly made. Here are five issues to consider if you’re in the process of

Simple ways to make strategic planning a reality

By |2022-06-21T20:13:24+00:00June 21st, 2022|Latest News|

Every business wants to engage in strategic planning that will better position the company to sell more to current customers — and perhaps expand into new markets. Yet the term “strategic planning” is so broad. It’s easy to get overwhelmed by all the possible directions you could go in and have a hard time choosing

Your estate plan: Don’t forget about income tax planning

By |2022-06-17T13:11:41+00:00June 17th, 2022|Latest News|

As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate plans attempting to avoid it. Now, because many estates won’t be subject to estate tax, more planning can be devoted

Social Security benefits: Do you have to pay tax on them?

By |2022-06-17T13:09:41+00:00June 17th, 2022|Latest News|

Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on the amounts they receive. If you’re wondering whether you’ll be taxed on your Social Security benefits, the answer is: It depends. The taxation of Social Security benefits depends on your other income. If your income

Dodge the tumult with a buy-sell agreement

By |2022-06-17T13:01:30+00:00June 17th, 2022|Latest News|

Businesses with multiple owners generally benefit from a variety of viewpoints, diverse experience and strategic areas of specialization. However, there’s a major risk: the company can be thrown into tumult if one of the owners decides, or is compelled by circumstances, to leave. A logical and usually effective solution is to create and implement a

Is it a good time for a Roth conversion?

By |2022-05-31T17:42:14+00:00May 31st, 2022|Latest News|

The downturn in the stock market may have caused the value of your retirement account to decrease. But if you have a traditional IRA, this decline may provide a valuable opportunity: It may allow you to convert your traditional IRA to a Roth IRA at a lower tax cost. Traditional vs. Roth Here’s what makes

The ins and outs of Series EE savings bond taxation

By |2022-05-26T20:43:25+00:00May 26th, 2022|Latest News|

Many people own Series E and Series EE bonds that were bought many years ago. They may rarely look at them or think about them except on occasional trips to a file cabinet or safe deposit box. One of the main reasons for buying U.S. savings bonds (such as Series EE bonds) is the fact

3 summertime marketing ideas for 2022

By |2022-05-26T20:39:37+00:00May 26th, 2022|Latest News|

You can’t stop it; you can only hope to use it to your best business advantage. That’s right, summer is on the way and, with it, a variety of seasonal marketing opportunities for small to midsize companies. Here are three ideas to consider. 1. Support summer camps and local sports Soon, millions of young people

IRA charitable donations: An alternative to taxable required distributions

By |2022-05-20T15:11:47+00:00May 20th, 2022|Latest News|

Are you a charitably minded individual who is also taking distributions from a traditional IRA? You may want to consider the tax advantages of making a cash donation to an IRS-approved charity out of your IRA. When distributions are taken directly out of traditional IRAs, federal income tax of up to 37% in 2022 will

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