Tax season is here again. It happens every spring and it is typically met with varying degrees of mixed emotions. While paying taxes isn’t optional, we do have choices and actions available to change the outcome on our tax forms each year. This year, in response to the Coronavirus public health emergency, the federal tax filing date has been pushed to July 15th. While this extension may provide some the chance to procrastinate a bit longer, it is also provides a unique opportunity to elevate your understanding of your overall financial health.
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How the Tax Reform and Jobs Act Impacts Business Owners
Are you the owner of a Pass Thru Business Entity? For instance, do you do business as a sole proprietorship, S Corporation, LLC or Partnership? If so, you may have heard that there was potentially good tax news coming from the Tax Reform and Jobs Act, passed by Congress in late 2017. (more…)
It’s Not Too Late to Do a SEP
People grow up in America dreaming big. They want to be their own boss. There will always be those who shun the 9-5 job and who are drawn by the potential of starting their own business, and who can blame them. With the markets in unchartered waters—hello, DOW 20,000—it demonstrates that sometimes big risks reap big rewards. Any successful, profitable business at year’s end ultimately faces the same realization…tax time. (more…)
Check Your List and Check It Twice – A Year End Financial Checklist
It’s the holiday season and your schedule may be filled with parties, cookie making, and spending time with family and friends. But you better not pout, you better not cry, we’re telling you why. While Santa Claus is coming to town this month; in a few short months so is tax-time. Read our year-end financial tips that might help keep you off the naughty list come April 15th. (more…)
