post

Increasing College Costs

by Posted in Newsletter Tagged , , , ,

Increasing College Costs

Private University tuition tops $45,000 and Public Universities average $20,000 per year.  While these expenses are daunting, there are things you can be doing now to help defray the cost of educating your children beyond high school.  From 529 Plans and planning for FAFSA in advance, you can set yourself up for less headache later!

Earlier FAFSA Planning / 529 Assets

File early and maybe get merit based aid!  If you don’t have a 529 set up for your children or grand children yet, take a look at some compelling reasons why this tool helps you now and in the long run.

Small Business: Compare Retirement Plans

If you own your own business, whether or not you have employees, choosing the right retirement plan can seem exhausting.  Let’s take a look at how each measures up and what may be best suited for your situation.

Click here to read more on all of these topics!

Tax Calendar

August 10th – File Form 941 for Quarter 2 Social Security, Medicare, withheld income tax

post

Calculating Retirement Needs

by Posted in Newsletter Tagged , , , , ,

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

post

Third Best Investment

by Posted in Newsletter Tagged , , , 1 Comment

The Third Best Investment You Can Make

Once you’ve contributed to your employer’s 401(k) to get the match and paid down high-interest debt, what is the third best investment you can make?
In this month’s newsletter you get to see some examples of contributing more to your 401(k) or a Roth IRA.

Prenups Serve Many Purposes

In many cases they are used to protect children from previous marriages or substantial business or other wealth accumulation.  Regardless of what it’s intended purpose, they must be Formal, Voluntary, and Fair.

Solo 401(k) Plans

As a business owner with no employees, this plan allows for higher maximum contributions towards your retirement depending on your business structure.

Click here to read more on all of these topics!

Tax Calendar

June 15th – Second Installment of Estimated 2017 Taxes Due

post

Tax Phone Scam Alert

by Posted in Alerts

Tax Phone Scam Alert

IRS Tax Phone Scam calls are on the Rise.  As more incidents of aggressive telephone scams continue throughout the country, the IRS unveiled a new YouTube video with a renewed warning to taxpayers.  Do not to be fooled by impostors posing as tax agency representatives.  In a News Release, the IRS reminds taxpayers of the actions that scammers often employ but the IRS will not, such as calling to demand immediate payment and asking for credit or debit card numbers over the phone. The IRS does not call about tax debts owed without first having mailed a notice.