Tax Planning

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6 Facts About Taxes

March 1, 2022

Individual income tax returns for 2021 will be due April 18th, 2022. In preparation as we head into the tax season, here are some facts to consider. 1. Where your tax dollars go. In 2021, the federal government spent $6.82…

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Your Year-End Financial Checklist

December 28, 2021

The end of the year can help remind us of last-minute things we need to address as well as the goals we want to pursue and get serious about. To that end, here are some aspects of your financial life…

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Required Minimum Distribution Book

RMDs Are Back for 2021

April 27, 2021

RMDs, or Required Minimum Distributions, are withdrawals that are required by the IRS each year out of your traditional retirement accounts like 401(k)s and IRAs starting at age 72. The money that you have to take out annually by December…

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2021 Limits for IRAs, 401(k)s and More

November 19, 2020

Numbers to know for the new year. On October 26, the Treasury Department released the 2021 adjusted figures for retirement account savings. Although these adjustments won’t bring any major changes, there are some minor elements to note. 401(k)s. The salary…

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Buy Sell Agreement and a black color pen

Buy/sell agreements: A way to protect your business and your family from the unexpected

October 19, 2020

Sudden events can cripple a small business. One way to protect the business from such an event involving one of the owners is a tool called a buy-sell agreement.  A properly constructed buy-sell agreement allows the business to continue operations…

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1031 Exchange

September 29, 2020

If you are a business owner who is thinking about selling your business or property in a few years, then you need to know this. Why are so many landowners reluctant to sell their properties? Because they have to pay…

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Sticky Notes of Roth, IRA, and Tax Free

What is a Roth Conversion?

September 25, 2020

To understand what a Roth conversion is, you must first understand some of the basics about the different types of retirement accounts, called “qualified accounts.” Also called defined-benefit plans, pensions are paid for by employers. They have largely gone away…

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Big Tax Refund This Year? You May Be Doing It Wrong

May 19, 2020

Big Tax Refund This Year? You May Be Doing It Wrong Getting a big tax refund feels good. According to the IRS, the average American received a refund of $2,781 in 2019. Awesome! That should cover a summer vacation or…

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