5 Things That Happened in May That Affect Your Small Business
We’re approaching mid-year, which is a great time to check in on the health of your small business. Plus, lots of newsworthy events have happened that may affect you.
Did You File Before Congress Passed the Unemployment Tax Exclusion? Here is How the IRS is Handling the Situation
Did you pay taxes on your unemployment benefits you received during the pandemic? Normally, unemployment insurance benefits are fully taxable for federal purposes. As part of the American Rescue Plan Act, Congress decided that each individual who received unemployment benefits could exclude the first $10,200 of those benefits from taxation if their modified AGI was less than $150,000. The IRS will be adjusting your tax return.
In the news: Investing through inflationary times
As seen in the Marietta Daily Journal: Bil Lako, CFP®, explains how inflation should be considered when investing.
Our Three Cents — Approaches to Business Valuations
In this episode of “Our Three Cents – Exit Planning Strategies” podcast, hosts Troy Harmon, CFA, CVA, Nick Antonucci, CVA, CEPA, and K.C. Smith, CFP®, CEPA, discuss the three most common approaches to business valuations: the market-based, income-based, and asset-based methods.
3 Reasons to Keep Your Personal and Business Finances Separate
The more your business and personal outlays become entwined, the harder it is to manage your company’s cash flow, payroll, and taxes. We explore three key reasons to draw a clear line between your business and personal finances.
Superfunding a 529 plan to reduce your estate
As seen in the Marietta Daily Journal: Bil Lako, CFP®, explains that a couple could fund a 529 Plan up to $150,000 and use five-year gift tax averaging to avoid gift taxes. Click here to read the article.
Evaluating a Job Offer
Whether you’re considering changing jobs or just landing your first one, when you receive a job offer, should you take it? You can find the job that’s right for you by following a few sensible steps.
Made a Mistake on Your Tax Return – What Happens Now?
Tax return mistakes are a lot more common than you probably realize. If you’ve just discovered that you’ve made a significant mistake on your tax return, the first thing you should do is take a deep breath, and then call us!
Superfunding A 529 Plan to Reduce Your Estate
This week on “Money Talks,” the Experts discuss a couple who have a large estate and want to start moving money to benefit their grandchildren but want to avoid gift tax complications. We suggest superfunding a 529 Plan as one option.
In the News: Underperforming Insurance Policy Repurposed to Enhance an Estate Plan
Seen in the Marietta Daily Journal: Henssler Principal Bil Lako, CFP®, explains how he and a team of experts were able to make the best of an underperforming insurance policy a client had substantially invested in.