The start of each year might be considered “Double IRA” season. Until mid-April (the 15th, in 2019), you can still make contributions to an IRA for 2018, if you have funds you’d like to save for retirement. Most workers and their spouses may each contribute up to $5,500, or $6,500 for those who were 50Read more about Double IRA Season is Here[…]

Rewarding employees at the end of the year can brighten up their holidays and set the stage for your company to enjoy a good start to 2019. Some forethought and careful communications can avoid problems. A key first step is to check your company’s financial condition. Year-end bonuses can boost morale, but you shouldn’t payRead more about How to Handle Year-End Bonuses[…]

Most people realize the importance of a will to help direct the transfer of assets after death, but during your lifetime, you also may also want to have a power of attorney (POA) for convenience and asset protection. Before we cover the different types of POA that you might consider, it might be useful toRead more about Powers of Attorney Can Be Vital Documents[…]

Under the Tax Cuts and Jobs Act of 2017 (TCJA), equipment expensing permitted by Section 179 of the tax code was expanded. In 2018, your business can take a first-year deduction of up to $1 million worth of equipment purchases. You might buy, say, $400,000 worth of equipment and deduct $400,000 from your company’s profitsRead more about Year-End Business Tax Planning[…]

The Tax Cuts and Jobs Act of 2017 was passed at the end of last year, and generally took effect in 2018. One feature of this legislation is an almost doubling of the standard deduction for most tax payers. Because of this steep increase, more taxpayers are likely to take the standard deduction for 2018,Read more about Year-End Tax Planning for Charitable Donations[…]

Since rising rates tend to depress bond prices, the threat of rising interest rates may worry fixed income investors. Investors with this concern may want to consider constructing a bond ladder to hedge against this risk.

Read more about Bond Ladders May Hedge Interest Rate Hikes …

If your company makes sales to out-of-state buyers, do you need to collect state sales tax? Until recently, Supreme Court decisions from the 20th century said that would not necessarily be the case. Companies were not required to collect state sales tax for a state in which it had no “physical presence.” This put in-state retailers at a disadvantage to out-of-state sellers who didn’t collect sales tax.

Read more about Supreme Court Decision Affects Online Sellers …

Many people think of life insurance as a product for family protection. The life of one or two breadwinners is insured; in case of an untimely death, the insurance payout can help with raising children and maintaining the current lifestyle.

Read more about Life Insurance as the Ultimate Hedge …

Taxpayers who itemize deductions on Schedule A of their tax return have in the past been able to deduct outlays for state and local income tax as well as property tax with no upper limit. (State and local sales tax may be deducted instead of income tax.) However, as of 2018, the Tax Cuts and Jobs Act of 2017 provides that no more than $10,000 of these state and local tax (SALT) expenses can be deducted on single or joint tax returns ($5,000 for married individuals filing separately).

Read more about A Grain of SALT in New IRS Notice …

Much of the news relating to The Tax Cuts and Jobs Act (TCJA) is about domestic tax activities, such as limitations on state and local taxes, Sec 199 deduction and individual and corporate rates. However, little has been provided a little known but very critical parts in the international area. If you have a foreignRead more about The Verdict May Be In – GILTI[…]