Calculating Retirement Needs

Do you know “Your Number” – When calculating retirement needs, this is the amount of total savings and investment required so you can afford to stop working.  It might seem as well the math would be difficult but it’s really not as daunting as one may think.  The other point to take note is:  The calculations for this are not a one and done event; you should periodically review this to see if you are on track or if adjustments need to be made.  One calculator you can start with is one the Social Security Administration’s website.

Taxable vs. Tax-Deferred

In last month’s newsletter we talked about 401(k)’s and Roth IRA’s as the third best investment you can make.  This month we look at what the tax implications are with such instruments and strategies.

Small Business: Do Well while Doing Good

The US Small Business Administration reports that 3 out of every 4 small business contribute an average of 6% of their earning to a charity.  While exploring examples, you’ll find out why people do it, how it’s potentially helped their business and what tax benefits you may get because of donating as a small business.

Click here to read more on all of these topics!

Tax Calendar

July 17th – June deposit of Social Security, Medicare, withheld income tax and non-payroll withholding’s

July 31st – File form 941 for 2017 Q2