Category Archives: tax planning

Tips on tip reporting

If you are like millions of taxpayers who work in the service industry, you may receive tips. The tax code is clear; if you receive tips you must report them as income. Some employers have systems to make this easy, … Continue reading

Posted in Business Owner, customer service, Employee Benefits, employees, Filing Taxes, Payroll, Penalty, tax advice, tax planning, taxes, Uncategorized | Tagged , , , , | Leave a comment

Do a business valuation when you’re ready to sell your company

Well before you’re ready to sell your company, you’ll want to determine its fair market value as a starting point for negotiations. Of course, obtaining a reasonably precise value for your business is often a complicated and time-consuming task. Accurate … Continue reading

Posted in Business, business help, Business Owner, Financial Planning, Investing, investment, IRA, save on taxes, tax advice, tax planning, Tax Return, Uncategorized | Tagged , , | Leave a comment

Is your HSA a retirement tool? The good, the bad, and the ugly

Health Savings Accounts (HSAs) are a great way to pay for medical expenses, and since unused funds roll over from year to year, the account can also provide a source of retirement funds in addition to other plans like 401(k)s … Continue reading

Posted in 401 k, Affordable Care Act, Business Owner, Employee Benefits, Estate, Financial Planning, health insurance, Investing, retirement, saving for retirement, tax planning, Uncategorized | Tagged , , | Leave a comment

Parents need to do estate planning

For a parent, estate planning is especially important. The first priority is to make sure your children are protected in the event that something happens to you. Your estate plan should appoint guardians for your minor children, as well as … Continue reading

Posted in 401 k, 529 plan, Business Owner, College Savings, education, Estate, Financial Planning, tax planning, Uncategorized | Tagged , , , | Leave a comment

Know the facts about IPOs

Do you know anybody who has tripled his or her money investing in the initial public offering (IPO) of a hotshot new company? It can happen. Yet the truth is, most investors don’t make money playing IPOs. It’s just that … Continue reading

Posted in 401 k, 529 plan, Financial Planning, invest, Investing, investment, IRA, retirement, stock, tax advice, tax planning, Uncategorized | Tagged , , , | Leave a comment

Give to cut taxes

If you are in a position to give, making annual gifts can be an excellent strategy for reducing both your estate and income tax liability. Doing your gift-giving during midyear rather than late in the year is especially smart if … Continue reading

Posted in Children, Estate, Financial Planning, Gift, tax planning, Uncategorized | Tagged , , | Leave a comment