Everyone knows that planning for retirement and investing go hand-in-hand. However, as I’ve written previously, smart planning also considers both the current and long-term tax implications of your investment decisions. We often talk about 401(k) and Roth IRA tax strategies (and these are great strategies) — however, we must be…
Small businesses are vital to the U.S. economy. In fact, almost half of all private-sector workers in the U.S. are employed by small businesses. Unfortunately, almost half of all new businesses also fail within the first 5 years. That’s why it’s so important to keep up with your business finances.…
If you have a business, or if you’re thinking about starting one, there are several ways you can use that business to help you save money on your taxes. For example, one little-known strategy that can provide significant tax benefits is employing your children. This article explores the various tax…
Book title: All the Presidents’ Taxes Author: Charles Renwick Publication date: February 28, 2023 Politically neutral, financially brilliant, All the Presidents’ Taxes by Charles Renwick is the perfect introduction to advanced tax strategies. In one real-world example after another, Renwick uses what we know (and don’t know) about presidential taxes…
So, what happens to your 401(k) when you quit, get laid off, leave your job, or change jobs? That’s a great question. The short answer is that it’s mostly up to you, and you have a few options. What is a 401(k) and can you keep it if you leave…
Just in time for tax season, Quicken for Mac now offers many new tax reports focused on tax forms and schedules. Want to share them with your accountant or use them in your own tax preparation? Print them out or export them to .csv files, whichever you prefer. And, of…
We’ve all heard the rumors… the IRS is hiring 80,000 armed agents! This is, of course, not true! However, it is true that increased IRS funding will likely result in increased audits. As an honest taxpayer, you should prepare and file your taxes with the understanding that you may be…
Just showing up at your office isn’t enough in today’s fast-paced work environments. You have to get things done to thrive and survive. Let’s be honest — everyone is more productive some days than others, but if you find yourself in a slump, having a strategy for staying effective and…
The holiday season is approaching quickly and 2023 is on the horizon. For many, the past year has been marred by steep prices at the pump, rising food costs, serious inflation, and a general sense of uncertainty. While no one can predict the future, it’s always helpful in these situations…
How many times have you found yourself running errands about town, where you’ve noticed a new business seemingly pop up overnight? In the United States alone, nearly 625,000 small businesses start every year — pretty staggering, right? Given today’s online marketplace, many entrepreneurs don’t even need brick-and-mortar storefronts, putting small…