A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022.
If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences.
It might sound like the lingo of air traffic controllers — inbound vs. outbound. But businesses of all types must grapple with these concepts and their associated challenges when developing sales strategies.
Socking away money in a tax-advantaged retirement plan can help you reduce taxes and help secure a comfortable retirement. If your employer offers a 401(k) or Roth 401(k), contributing to the plan is a smart way to build a substantial nest egg.
Family-owned businesses face distinctive challenges when it comes to succession planning. For example, it’s important to address the distinction between ownership succession and management succession.
As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA (including a SIMPLE IRA or SEP IRA) when you reach age 72.
Most growing small businesses reach a point when it’s time to offer employees a retirement plan. Perhaps the most well-known plan type is the 401(k), which is available to any size company. Contributions to a traditional 401(k) are made pretax, reducing taxable income, but distributions are taxable. Another option: a Simplified Employee Pension (SEP) plan, which is also available to any size business Contact us for more info about possible plans.
Many people like to give thanks at this time of year by donating to their favorite charities. Here are the basic 2022 rules for charitable contributions and gifts to loved ones.
Are you thinking about launching a start-up? Or do you just want to get back to the basics of good budgeting? Here’s a look at the foundation of a solid budget.
These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or sells or leases software to others. In any of these situations, you should be aware of the complex rules that determine the tax treatment of the expenses of buying, leasing or developing computer software
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