Amid the challenges of high interest rates, mounting consumer debt, and fears of a recession lies an opportunity for businesses to not only survive but thrive. We provide 10 actionable tips for success.
Due to 2024-25 FAFSA rollout and processing delays, students may receive their college financial aid packages late this spring for the next school year.
President Biden’s proposed tax agenda for 2025 aims to increase taxes on the wealthy, including raising the capital gains tax rate for those earning over $1 million to 39.6%. The plan also includes a 5% Medicare tax for earnings above $400,000 and a 25% minimum tax rate on income of families worth $100 million or more.
Secure the future of your business with effective succession planning. From identifying successors to strategic planning, learn how to ensure your enterprise thrives even after you’ve stepped away.
Millennials, are you navigating your financial journey? Understanding key tax and personal finance topics like the time value of money, tax-deferred savings, student loan forgiveness, 529 plans, and HSAs is crucial secure your financial future.
Increases in labor productivity are typically driven by improved tools and technology, more efficient processes and organizations, and increased worker experience, education, and training; however, can it sustain the U.S. economy?
Many of us have retirement or investment accounts, bank accounts, and insurance policies. These assets are highly desirable inheritances for your heirs because they are easy to value.
Ever wonder what ‘the market is up/down’ really means? It’s often the Dow Jones Industrial Average or the S&P 500. But there are hundreds of indices! You can’t invest directly in them, but they’re great benchmarks for your portfolio.
Did you know? More than 1 in 10 Americans lease a storage unit, with average prices around $165/month. Clearing out that space could create room in your budget for important financial goals.
With home values hitting a record high of $389,800, housing affordability has dropped to its lowest since 1985. Are you feeling the housing squeeze?
Tax season is upon us! If you haven’t started gathering your documents for your 2023 tax return, now’s the time. We provide more details on filing extensions and due dates in this tip!
The Tax Relief for American Families and Workers Act of 2024, recently passed by the House, could bring significant changes for parents and businesses. Highlights include potential increases to the child tax credit and accelerated business expense deductions. Stay tuned as the bill moves to the Senate!
Planning your IRA beneficiary is crucial! Ensure your assets go where you intend them to. Periodically review your IRA beneficiaries to align with changing circumstances.
Celebrating Women’s History Month by honoring trailblazers in finance! Learn about the women who shattered glass ceilings and paved the way for future generations in investing, banking, and economics.
The U.S. Department of Labor issues new rule on employee vs. independent contractor classification! Effective March 11, 2024, the six-factor test replaces the 2021 rule.
Individual bonds have set coupons and maturities, while funds pay distributions based on market conditions. Understanding these nuances can help you make informed investment decisions.
Planning your life insurance beneficiaries? Watch out for these traps: not naming one, having it paid to your estate, naming a minor, or disqualifying a beneficiary from government assistance. Learn how to avoid unintended consequences
You have until your tax return due date, excluding extensions, to contribute up to $6,500 for 2023 ($7,500 if you were age 50 or older on December 31, 2023) to all IRAs combined. For most taxpayers, the contribution deadline for 2023 is April 15, 2024.
Succession planning isn’t just for TV dramas. In real life, it’s crucial for family businesses to ensure a smooth transition of ownership and leadership. Learn why it’s essential and how to start planning for your business’s future.
Did you know your employer might offer tax-free fringe benefits? From health benefits to education assistance, there are perks beyond your paycheck.
Wondering about the future of tax laws post-2025? With expiring provisions from the Tax Cuts & Jobs Act and pandemic-related changes, uncertainty looms. Stay informed to navigate potential impacts on estate and income tax planning.
The SECURE 2.0 Act, passed in Dec 2022, brings key amendments to retirement savings. From matching student loan payments to new early withdrawal exceptions, and the introduction of emergency savings accounts – 2024 is seeing significant shifts.
Unlock the Benefits of a Health FSA! Learn how an FSA empowers employees to tackle medical expenses tax-efficiently. No federal income or employment taxes on contributions, and reimbursements for qualified medical expenses are tax-free.
Money matters can stir up trouble in relationships when saving meets spending head-on. We look at how couples can bridge the gap, appreciate differences, and build a solid financial foundation
The Federal Reserve’s interest rate decisions shape the economy, and the FOMC meetings could influence your borrowing and investing choices in 2024.
Small business owners, fear not! Understanding IRS audit triggers is the key to staying audit-free. Stay ahead, stay compliant, and ensure your business thrives without the audit anxiety.
With wildfires, hurricanes, and heatwaves, the U.S. faced a surge in billion-dollar weather disasters. Now, homeowners are grappling with rising insurance costs, coverage restrictions, and policy nonrenewals. Learn how to navigate nonrenewals, engage with insurers, and secure your home.
Planning for retirement? Don’t overlook the role of credit in your golden years! Whether it’s a second home, a loan for unexpected expenses, or better terms on credit cards, maintaining a healthy credit score matters.
Embracing remote work post-pandemic? Uncover the tax implications that come with the new normal! From the benefits of reduced costs to the complexities of tax nexus, small and medium-sized businesses need to navigate the remote landscape wisely.
Attention, business owners! New IRS regulations set to change the game for information returns filing. Starting 2024, the threshold drops to just 10 returns, impacting businesses previously exempt.
The IRS unveils a groundbreaking $1 billion penalty relief initiative for 4.7 million entities hit by pandemic-related back taxes. Targeted at those with incomes below $400,000, this move aims to ease the burden on individuals, businesses, and tax-exempt organizations.
In October 2023, over half of small businesses felt the impact, with 20% adjusting hiring decisions. Despite hurdles, aspiring entrepreneurs can explore various financing options. Check out our breakdown!
Unlocking the investor’s mind: how personality shapes wealth outcomes! Are you an adventurous risk-taker or a cautious planner? Find out more!
Invest in your child’s bright future in 2024! We explain why 529 plans are more flexible than ever, and why you should consider a 529 plan for tax-free education savings.
Imagine safeguarding your family’s future even if the unexpected happens. That’s where life insurance steps in. Discover the basics of life insurance coverage—your key to ensuring a financial safety net for your loved ones.
Retirement on your horizon? Thinking of rejoining the workforce? Dive into our article for key financial insights tailored to your return journey! From tax implications to retirement account changes, we’ve got you covered.
Starting 2024, reporting beneficial ownership is a must. Navigating the Corporate Transparency Act (CTA) is a huge game-changer in U.S. business regulations aimed at combatting money laundering, tax fraud, and terrorism financing.
Planning to punch the clock beyond retirement age? Did you know 33% of current workers expect to retire at age 70 or older, or not at all? Working in your 60s, 70s, or beyond has perks, but beware unexpected consequences!
Beware this holiday season! While gift cards top wish lists, scammers are on the prowl. Protect your festive cheer from these grinches.
Before you become distracted with the seasonal celebrations, it may be in your best interest to consider year-end tax moves that can benefit you for both 2022—2023 and 2023—2024.
The holiday season is customarily a time of giving gifts, whether to your favorite charity, family members or others. Some gifts even provide a variety of tax benefits.
Is your parakeet internet famous? Is bird seed a tax deduction? Content creators must meet highly specific requirements to legally take some of these tax deductions.
You might be able to buy and sell individual stocks on a phone app, but you must still do due diligence, researching each of the stocks you want to own.
An estate plan is a map that explains how you want your personal and financial affairs to be handled in the event of your incapacity or death. Due to its importance and because circumstances change over time, you should periodically review your estate plan and update it as needed.
Premiums, deductibles, and coinsurance amounts for Original Medicare generally change every year. Here’s a look at some of the costs that will apply in 2024.
Many business owners have fallen victim to aggressive marketing of the Employee Retention Credit by marketers or promoters and may have filed ineligible claims. The latest guidance from the IRS includes a procedure for withdrawing a claim.
If you’ve been thinking of making home improvements that include energy efficiency improvements, you may qualify for some substantial income tax credits.
Did you know that consumers are contacted by debt collectors about medical bills more than any other type of debt? Fortunately, there have been changes to the way medical debt is reported on credit reports.
QuickBooks Online makes the process of importing transactions from your bank so easy—plus it reduces manual data-entry and saves valuable time!
Bonds are generally considered to have lower risk than stocks, but they are not without risk. In fact, bonds are subject to multiple risks.
Entrepreneurs may overlook the importance of structuring advisory relationships with care. One of the most common pitfalls startups face is overcommitting equity in exchange for advisory services.
The SECURE 2.0 Act, included numerous provisions that affect required minimum distributions (RMDs), including when to begin RMDs.
Discover the essential strategies to minimize your tax liability and take control of your financial future as the year comes to a close. Get ready to navigate the year-end tax maze with confidence and secure your financial well-being with these tax tips!
Every small- and mid-sized business owner should plan ahead so that the transfer of both the leadership and ownership of their businesses will be smooth, whether their exit is a sudden change or a planned departure occurs.
The electric vehicle revolution is well underway, with an increasing number of drivers switching to eco-friendly options. However, as EVs become more common, states are implementing taxes and regulations on charging stations.
When fuel costs are high, businesses must decide whether to absorb them or pass them on to consumers, which could reignite inflation across the economy.
Tax policy and the future of the U.S. tax code is expected to take center stage during the 2024 Presidential election debates. The expiring Tax Cuts and Jobs Act (TCJA) regulations and the growing deficits and national debt are among the topics.
Chart of Accounts works in the background as a critical element of QuickBooks Online. It is simply a list of financial categories created by QuickBooks based on your business type and industry and is used to track your company’s financial data.
The Inflation Reduction Act of 2022 included provisions intended to lower prescription drug costs for Medicare enrollees. For the first time, the federal government will negotiate lower prices for some of the highest-cost drugs covered under Medicare Part B and Part D.
A 2023 survey found 56% of Americans saying a four-year college degree isn’t worth the cost due to students graduating with significant debt and a lack of specific job skills vs. 42% who think college is worth it.
If your employer offers health insurance benefits, one of your options may be a high-deductible health plan (HDHP) with eligibility for a health savings account (HSA). These plans offer potential savings by encouraging you to make cost-effective choices in your medical spending.
When seniors reach the point where they can no longer care for themselves, challenges can begin to mount, and you’ll quickly learn if you have planned well or if there are gaps in your elder care plan.
Choosing the entity type for your business is a critical decision that affects how you are taxed and your personal liability. Start off on the right foot by learning the pros and cons of each structure.
Embrace healthier savings! The 2024 HSA limit increases mean you can supercharge your medical fund even more.
The annual Retirement Confidence Survey found that workers’ confidence took a substantial hit: Just 20% of respondents felt very confident they will be able to afford a comfortable retirement.
With student loan payments resuming soon, be on the lookout for scam artists posing as legitimate debt relief companies, promising to help repay loans.
Unexpected expenses can pop up at any time – that’s where an emergency fund comes to the rescue! Having a financial safety net gives you peace of mind and helps you tackle life’s curveballs with confidence.
A sound retirement plan should be based on your particular circumstances; however, once you’re retired, your income plan should strive to address four basic objectives.
The Inflation Reduction Act has a provision that could benefit many small business startups, allowing them to potentially double the amount of the research and development tax credit that can be used against payroll taxes from $250,000 to $500,000 per year.
A real estate investment trust (REIT) is a way to invest in commercial real estate without the responsibility of managing a property yourself, and with a much smaller investment than might otherwise be needed. We explore more on how REITs can be a helpful tool to increase diversification.
Fixes to Income Driven Repayment plans will discharge around $39 billion in Federal student loans, affecting more than 804,000 borrowers the coming weeks—but what is the tax implication?
Business owners know that it is always more expensive to hire a new person than it is to simply retain one of your existing workers. However, if you’re hiring, developing your onboarding process can set your new employees up for success.
Big news for individuals born in 1951! The IRS announced that traditional IRA owners who will attain age 72 in 2023 will have to take their first required minimum distribution (RMD) by April 1, 2025, rather than April 1, 2024.
Is the news cycle stressing you out? One way to avoid becoming distracted and anxious amid scary headlines is by having a sturdy framework to help guide your spending, saving, and investment decisions.
To truly give yourself the best chance of success, and to help achieve your overall goals in the most effective ways possible, there are a number of key best practices you’ll want to keep in mind along the way.
The fear of overfunding a 529 plan is a lot less now that new laws allow 529 Plan beneficiaries to roll left over funds into a Roth IRA.
Employees may be misclassified as independent contractors. Misclassifying a worker can have significant ramifications for both the employer and the worker in terms of how much each pays in income, Social Security, and Medicare taxes, among others.
With the COVID pandemic receding in most areas of the world, Americans are traveling again. If you’re planning a foreign vacation, here are some suggestions to help keep your trip on track.
The chasm between a “minor accident” and “intentional fraud” when it comes to your taxes is a big one. The latter can get you into a significant amount of trouble and may even venture into criminal territory if you’re not careful.
Millions of small and mid-sized businesses are the true foundation of the United States economy. Whether you’re a seasoned veteran or are a new entrepreneur, it’s important to understand the available funding options and how to take advantage of them.
Since the IRS now does most of its auditing through correspondence, an IRS letter can, in some cases, ruin your day. Step 1. Don’t Panic. Step 2. Read our rundown of CP notices!
Military families face plenty of financial challenges. If you’re saving for college or retirement, buying a home, or wondering how to help secure your family’s financial future, don’t overlook these five important benefits.
In the race to monetize AI, it’s crucial to explore how widespread adoption of AI-enabled technologies could shape the future of workers and businesses.
Some common tax mistakes are more than just a “small problem.” They could actually land you in trouble with the IRS if you’re not careful.
The taxability of your Social Security benefits depends on several issues including filing status and income. Additionally, the amount that is withheld from your Social Security benefits to pay for your Medicare premiums is similarly determined.
Investing without knowing what you’re trying to achieve is like trying to drive cross-country without a map or GPS. Your goals may change over time, but it’s easier to adjust your plan to those changes than it is to succeed when you don’t know what you’re working to accomplish.
With nearly 100 provisions covering all types of retirement savings plans, the SECURE 2.0 Act actually had a few glitches. Congress has announced they will introduce legislation to correct “problematic language.”
Many students hold a summer job during their time off from school. Here are some tax issues that should be considered when working a summer job.
The elderly and financially vulnerable are often targets for financial exploitation. Look for warning signs that your parents have been victimized, or are at risk of being financially influenced, manipulated, or coerced.
In between the start-up phase and a mature business is the growth phase that provides an exceptional opportunity to grow from the business you’re running into the one you hoped you’d be in charge of when you started.
While 401(k) plans and IRAs are intended to promote long-term retirement savings, sometimes the situation is dire enough to consider an early withdrawal. We look at new penalty-free exceptions created by the SECURE Act 2.0.
Between sites like GoFundMe, Kickstarter, and Indiegogo. each has its own charges, limitations, and withdrawal processes. Furthermore, both the IRS and the SEC are closely watching the taxability of the money raised.
It’s now possible to buy an effective hearing aid without a medical exam or a prescription–music to more than 37 million U.S. adults are living with some hearing loss!
As a small-business owner, one of the best benefits you can provide employees is an employer-sponsored retirement plan. The SECURE 2.0 Act makes providing a retirement plan for your employees easier.
As a woman, if you find yourself facing a retirement shortfall, the best solution will depend on several factors, including the severity of your projected deficit, how long you have before retirement, and how long your retirement may last.
Classes and categories have their place in QuickBooks Online transactions. Tags add another way to track your financial data.
Have goals like saving for retirement, saving for college, establishing an emergency fund, providing for your family, or minimizing taxes? These can all be accomplished through financial planning.
The IRS is expected to receive approximately $80 billion in funding between now and 2031, much of which will likely be used to increase audits in the near future.
One of the best ways to reduce the amount of time it takes to get paid by clients and other vendors involves asking for payment deposits at the beginning of any new business relationship.
Many individuals are serving as care providers for elderly loved ones, such as parents or spouses, who cannot live independently. The cost of such care may be deductible as a medical expense.
Combining finances can be complicated for any couple, but the challenges become more complex the second time around, especially when children are involved. We provide some ideas to consider if you are combining households sometime soon.
Approximately 50% of all Gen Z respondents to one survey, engaged in freelance work of some kind. Bookkeeping and taxes present significant challenges to those choosing to go down this path.
Retirement might seem worry-free, but there can be challenges when managing their income, and how taxes affect them, including how taxes affect to Social Security and Medicare and when to tap taxable and tax-advantaged accounts.
As young adults embark on their first real job, get married, or start a family, they might want to make preparing for retirement a financial priority. The best time to start investing is now — for two key reasons: compounding and tax management.
If you find yourself looking for a quick source of cash, your retirement savings may look like a tempting option. However, if you are under age 59½ and withdraw money from a traditional IRA or qualified retirement account, you will likely pay both income tax and a 10% early-distribution tax on your federal return; your state may also charge an early-withdrawal penalty in addition to the regular state income tax.
As a reminder, April 18, 2023 is the due date to either file a return and pay the taxes owed or file for an automatic extension—but remember, you still must pay an estimate of the taxes owed!
You may think of Social Security as just something for retired people. However, Social Security is with you throughout your entire life. We explain more!
Even if you have someone prepare your tax return for you, you should still understand the basic terms and concepts related to tax terminology. We define the key terms and answer some of the frequently asked questions!
Taxes can take a big bite out of your total investment returns, so it’s helpful to look for tax-advantaged strategies when building a portfolio. But keep in mind that investment decisions shouldn’t be driven solely by tax considerations; other factors to consider include the potential risk, the expected rate of return, and the quality of the investment.
Many taxpayers don’t feel the need to keep home improvement records, but you could miss out on the exclusion for home gains if you don’t.
College students and parents deserve all the help they can get when paying for college or repaying student loans. If you’re in this situation, we provide details on three federal tax benefits that might help put a few more dollars back in your pocket.
Attention Business Owners: Before trying to claim the Employee Retention Credit (ERC), the IRS urges you to carefully review the guidelines to prevent ineligible people from filing for the credit.
Did you receive a special payment from your state in 2022? Do you know if you’ll be taxed on that payment? The IRS has determined the federal income tax status, and we have the details.
If you qualify, you can make a deductible IRA contribution for 2022 up until the tax filing deadline on April 18, 2023. If you are someone age 50 or older, don’t forget you qualify to make a catch-up contribution.
As a grandparent, you can teach your grandchildren financial responsibility while securing their financial future. We provide some tips so you can avoid any harsh tax consequences.
Getting paid is much more enjoyable than paying your bills. Here are three ways to process incoming money from customers using QuickBooks Online!
Planning for the consequences of aging in general, and long-term care in particular, will depend on your preferences and circumstances. We look at some of your living options when you need care.
The cost of medical care is soaring higher every year, and it’s becoming increasingly difficult (and in some cases, impossible) to pay medical costs out of pocket. Whether you already have health insurance or want to get it, here’s some basic information to help you understand it.
The Consolidated Appropriations Act, 2023, included the SECURE 2.0 Act that can significantly impact and augment your retirement planning strategies. Some provisions apply to individuals while others benefit businesses. We look at the most significant provisions.
Did you know roughly three out of every five people are currently living paycheck to paycheck? If you’ve made a New Year’s resolution to become more financially stable, the most important step you can take is to start building your emergency fund.
In the early days of a business, you generally want to handle as many day-to-day tasks yourself—including bookkeeping. But as your business continues to grow, your finances become more challenging, which naturally adds complexity to the bookkeeping process.
Although the credit for purchasing a new electric vehicle can still be as much as $7,500, Congress has added some new stringent qualifications as to which vehicles qualify, and for the first time Congress has limited who qualifies for the credit by barring the credit to higher income taxpayers.
It’s the most wonderful time of the year—for CPAs! The IRS started accepting returns on Monday, January 23, 2023! Remember the filing deadline for most individuals is on Tuesday, April 18, 2023 or Monday, October 16, 2023, if you file for an automatic six-month extension by the original due date.
If you and your spouse are looking for a way to build your retirement savings but one of you is not working, you might consider funding a spousal IRA, as IRS rules allow a married couple to fund separate IRA accounts for each spouse based on the couple’s joint income.
Having a comprehensive end-of-life plan can significantly ease the burden on family members during a highly emotional period.
Since most people finance their home purchases, buying a home usually involves applying for a mortgage. We cover some basic information to help guide you through the process.
The tax laws are carefully written to keep married taxpayers from filing separately to manipulate the tax laws to their benefit. We explore a list of the more commonly encountered tax disadvantages – some might call them tax penalties –when filing as MFS.
Go a little crazy with your spending during the holidays? If you have debt, it is crucial to understand the terms, interest rates, payment terms, prepayment, and penalties.
With the holiday celebrations in the rear-view mirror and the New Year underway, now is the time to take a look at the changes this year that will impact your 2023 tax return.
If you use contract workers to perform services for your business and pay them $600 or more for the year, you are required to issue each one a Form 1099-NEC after the end of the year to avoid facing the loss of the deduction for their labor and expenses.
Are you renting a home from a relative? Have your parents given you a loan? We look at five common situations and the tax issues that can arise!
If your holidays included a ring as a present—congratulations! However, disagreements about money are often a source of friction between couples. Learn how can you bridge that gap between your different styles of investing.
If you lost your spouse in 2022, you’re probably looking to rebuild and move forward in 2023. However, you still have 2022’s tax returns to tackle with several filing status choices to choose from.
But buying a home can be stressful, especially when you’re buying one for the first time. Fortunately, knowing what to expect can make it a lot easier.
Over time, finances tend to get complicated, especially when you’re juggling multiple goals and accounts. Simplifying your finances may help free up more time to focus on your financial priorities.
Inflation is a sustained increase in prices that reduces the purchasing power of your money over time. According to the Consumer Price Index (CPI), inflation peaked at an annual rate of 9.1% in June 2022, the fastest pace since 1981, before ticking down to 7.7% in October.
Maintaining an appropriate balance of stocks and bonds is one of the most fundamental concepts in constructing an investment portfolio. Balanced mutual funds attempt to follow a similar strategy, striving for a specific mix, such as 60% stocks and 40% bonds, within limits spelled out in the prospectus.
Along with the holidays comes a lot of extra work for many family-run businesses, which may require putting the kids to work and having a spouse help out over the busy time.
The increase in popularity of online shopping means that cyber criminals and online scams are more prevalent than ever before.
There is a 96% chance that the United States will experience some form of economic recession within the next 12 months. If you want to make sure that you’re as prepared as you can be for whatever the economy happens to throw at you, we cover three important things to keep in mind.
Small-Business Owners: It’s probably your busiest month of the year. But there are things you can do to make your return from the holidays less stressful.
Building a college fund, even a small one, can help families feel more in control and less stressed during the college research and admission process. Think of a college fund as a down payment.
A donor-advised fund is a powerful philanthropic tool that allows you to donate assets when it’s most tax-efficient. When you see a meaningful opportunity, you are able to provide grants to any active, qualified charitable organization.
If you’ve finished college within the last few years, chances are you’re paying off your student loans. What happens with your student loans now that they’ve entered repayment status will have a significant impact — positive or negative — on your credit history and credit score.
It’s been a rough Fall for the stock market. So much so that you should probably carefully review your portfolio and other capital transactions to minimize gain or maximize losses for the year.
The Inflation Reduction Act that President Biden signed into law back in August, has a lesser-known provision that could benefit many small business startups, allowing them to potentially double the amount of the research and development tax credit they can claim from $250,000 to $500,000 per year against payroll taxes.
If your traditional IRA is invested in stocks and/or mutual funds, the recent substantial downward slide by the stock markets may provide a unique opportunity to convert your traditional IRA to a Roth IRA at a low cost, and then benefit when the markets recover.
It’s easy to maintain QuickBooks files, improve the accuracy of your accounting work, and gain insight on the financial health of your business. Just follow the seven ways you can be safe, compliant, and productive when you’re using QuickBooks Online.
Many broad-based indexes, including the S&P 500, are weighted based on market capitalization, and that can affect performance when a heavily weighted sector suddenly falls out of favor.
Renters insurance is important coverage once you move out on your own because, if your apartment burns down, your landlord’s insurance only covers the structure, not your stuff!
Long-term debt can be debilitating–especially when the money is owed to the government. Because bankruptcy will not discharge tax debts, one of your few options available for settling tax debt is an IRS program called an Offer in Compromise, or OIC.
In August 2022, 49% of small businesses reported having job openings they could not fill. What’s a small business to do? We explore three options.
There are a lot of seasoned investors out there who have made a lot of money on things like the stock market over the years. There’s a lot to be learned from Warren Buffett that you can put to good use moving forward.
If you had to make a list of some of the biggest issues that plague small business owners on a regular basis, cash flow problems would undoubtedly be right at the top.
There’s no “right” answer for when to take Social Security. It’s an individual decision that must be based on many factors, including other sources of retirement income, your marital status, whether you plan to continue working, your life expectancy, and your tax picture.
The Free Application for Federal Student Aid (FAFSA) for the 2023-2024 school year opened on October 1, 2022. Here are some things you should know.
The Federal government provides special tax law provisions to help taxpayers and businesses recover financially from the impact of a disaster. For those affected by Hurricane Ian, these provisions could allow taxpayers to get a faster tax refund for the disaster loss
You’re an adult, and that distinction comes with some privileges, benefits, responsibilities, and choices to make, including the potential decision of whether to live with your parents or move out. Not surprisingly, there are pluses and minuses to either option.
You might think celebrities have it all—they usually have cars, homes, jewels, and abundant wealth. However, many are missing a critical component: an estate plan.
If you worry about your retirement investments during market downturns, you’re not alone. Unfortunately, emotions are often the enemy of sound investing. We cover some points to help you stay clear-headed during periods of market volatility.
The Inflation Reduction Act of 2022 changes to the tax credit for electric vehicles. If you are in the market for an electric vehicle, review the new rules to help you maximize the credit you are allowed.
On August 24, President Biden announced federal student loan debt which includes up to $10,000 in loan relief and up to $20,000 in loan relief to borrowers who received a Pell Grant.
To help struggling taxpayers affected by the COVID-19 pandemic, the IRS is providing penalty relief to most people and businesses who file or filed certain 2019 or 2020 returns late.
While experts argue over whether or not we’re in a recession, small-business owners have more pressing questions, like, “How is a recession going to affect my business?” We explore ways to survive hard economic times.
You may be wondering which approach is most effective—passive or active management—but there may be good reasons to hold both in a well-diversified portfolio. We look at some of the pros and cons to consider.
Throughout your life, your need for life insurance will change, but how much do you need? There are a number of approaches to help determine how much life insurance you should have. We look at three of those methods.
Some people may choose not to file a tax return because they didn’t earn enough money to be required to file, but many social benefits for lower income individuals require a return to be filed to claim those benefits.
If you’ve decided graduate school is is in your future, remember returning to school as an adult often involves financial sacrifices. How will you pay for it? Personal savings, financial aid, employer-funded tuition, and private loans may be available to you, and education tax credits might help out at tax time.
The Inflation Reduction Act of 2022 includes a variety of provisions, including substantial green energy incentives, reduction of Affordable Care Act insurance premiums, IRS funding, corporate minimum tax, and more. We explore how this will affect you.
Advertising and publicity are two separate but very important components of a well-rounded marketing communications plan. Small-business owners need to determine which combination may result in the best possible return on investment on their marketing dollars.
Many women have financial needs that are unique to their situation in life. With a financial plan in place, you’ll be better able to focus on your financial goals and understand what it will take to reach them.
If you’re a young adult, chances are you’ve been introduced to the realities of adulthood. While you’re excited by the opportunities, the millennial generation faces a unique set of challenges, including a competitive job market and significant student loan debt that can make it difficult to obtain financial stability.
For small business owners, growing a business is a fine balance. Growing too quickly can significantly damage the trajectory you’ve set, while grow too slowly can let your competitors pass you.
Married taxpayers have a special benefit that allows a surviving spouse to make what is called a portability election, allowing the surviving spouse to add the deceased spouse’s unused estate tax exclusion to their own.
Individuals with disabilities, as well as parents of disabled children, are eligible for several income tax benefits.
Just as your wealth goes through transitions throughout your life, so does the need for life insurance. It’s important to coordinate your insurance coverage with your current needs.
Dividends can be a dependable source of income for retirees and others who want an income stream without selling their underlying investments.
Tax law requires individuals who have reached age 72 to begin taking minimum distributions from their traditional IRA accounts; however, the tax law also permits those 70½ and older to transfer funds from their IRAs to charities as Qualified Charitable Distributions (QCDs).
If you sold your home this year or are thinking about selling it, there are many tax-related issues that could apply to that sale. We cover some important points to consider in this week’s Tax Tip.
Small-business owners: If you’re looking to hire, consider looking at your state workforce agency, 10 targeted groups, for your next employee. You may be eligible for the Work Opportunity Tax Credit (WOTC), up to $2,500.
Investing internationally provides access to growth opportunities outside the United States, which may boost returns and/or enhance diversification in your portfolio.
When two become one, you need to communicate clearly because the financial decisions that you make now can have a lasting impact on your future.
Life insurance policies may include provisions that allow you to access some or all of the death benefit while you are living, which may benefit your family if you have a terminal, chronic or critical illness.
Homebuyers braving the hot U.S. housing market have run headlong into a striking transition. The average interest rate for a 30-year fixed mortgage jumped from around 3.2% at the beginning of 2022 to 5.3% in mid-May, the highest level since 2009. This rise was sparked by the Federal Reserve’s commitment to raise the federal funds…
New business owners, especially those operating small businesses, may be helped by a tax provision allowing them to deduct up to $5,000 of the start-up expenses and $5,000 of organizational costs in the first year of the business’s operation.
The IRS has released the 2023 contribution limits for health savings accounts (HSAs), as well as the 2023 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs).
If you have a second home in a resort area, or if you have been considering acquiring a second home or vacation home, you may have questions about how rental income is taxed for a part-time vacation-home rental. We explain in this week’s Tax Tip.
Survey says: Nearly three quarters of workers and 77% of retirees in a recent survey said they remain at least somewhat confident that they will experience a comfortable retirement. See if your long-term financial-planning priorities are in line.
Many employers have begun automatically enrolling their employees in their company’s 401(k) plan. Without doing anything, you’re on your way to saving for retirement. But don’t just assume that the investment decisions your employer has made on your behalf are right for you.
A severe storm or other catastrophic event often strikes with little warning, can result in costly damage to your home, and puts your family’s safety at risk. Being prepared may help you make it through a natural disaster safely.
With home values skyrocketing recently, your home may be one of your largest assets. Using home equity to help finance other financial objectives is a strategy many people consider, but before doing so be sure you understand the risks as well as the potential benefits.
Now that you’ve seen last year’s tax results and can see where this year is heading, it may be a good time to consider adjustments to your income tax withholding.
An S corporation does not directly pay taxes on its income; instead, its income, losses, deductions, and credits flow through to its shareholders’ individual tax returns and are not subject to self-employment taxes. As a result, many S corporations ignore the requirement that each shareholder-employee must take reasonable compensation in the form of W-2 wages in exchange for services performed for the corporation.
Have you ever wondered how long the IRS has to question and assess additional tax on your tax returns? For most taxpayers who reported all their income, the IRS has three years from the date of filing the returns to examine them.
It’s important to categorize transactions, but it takes time. If every day brings several dozen into QuickBooks Online, you can automate this process.
The COVID-19 pandemic in 2020 led to a surge in demand for vacation/second homes. If you are thinking about buying a vacation home, we cover 3 things to consider before taking the plunge.
The U.S. Department of Education announced a record sixth extension for federal student loan repayment, interest, and collections, through August 31, 2022. We explain what this means for you.
There are a few major reasons why someone might prefer a salaried position over an hourly one. No, they aren’t going to receive overtime pay like their hourly employees, but they do have access to certain benefits that their counterparts don’t.
Balancing work and family is a personal endeavor—there is no magic formula. You’ll need to make choices along the way that align with what’s important to you.
The benefits of turning your home into a rental include cash income, tax write-offs, and most of all, long- term appreciation of the property. Before you place the “For Rent” sign, consider the tax consequences.
Russia and Ukraine account for only about 2% of global gross domestic product, but high energy prices and supply shocks caused by the war could have a far-reaching impact on a global economy that has not fully recovered from the pandemic.
If you sell an asset you purchased, you will likely have to pay taxes on the gain. However, if you sell an asset you inherited, any gain may receive a beneficial tax treatment.
You have goals that you’ve set for your business. You need to make sure that you’re financially in a position to do that, and business budgeting is how you do it.
As your children look forward to summer activities, especially those that cost money, the next few months might present an ideal opportunity to help them learn about earning, spending, and saving.
Setting investment goals means defining your dreams for the future. When you’re setting goals, it’s best to be as specific as possible. Writing down and prioritizing your investment goals is an important first step toward developing an investment plan.
Are you finally buying that thing you’ve always wanted or are you taking your tax return windfall and investing it for your future? Consider your other choices before splurging on more stuff.
MARCH 2022, KENNESAW, Ga.— Henssler Financial and John Dickson, CPA, CVA, CFP®, were winners in the 2022 Best of Cobb feature, sponsored by Cobb Life magazine and the Marietta Daily Journal. Readers cast more than 404,000 votes for their favorite business, places, and services around Cobb County. Henssler Financial was voted as Best Investment Firm, and John Dickson, CPA, CVA, CFP®, as Best Accountant on the 2022 list.
If you’re running an e-commerce business, the most important data tools provided by your platform are known as Key Performance Indicators (KPIs). They give you a quantifiable measure of overall performance and show you where improvement is most accessible.
Now that baseball season is finally here, we have a few lessons from America’s pastime that might inspire you. The one-base-at-a-time approach takes discipline, something you can apply to your finances.
Often, entrepreneurs get caught up with hyper-growth rates, and start thinking of how they can replicate these results. Understanding how to build a sustainable business might be the difference between success and failure.
Special tax benefits are available for those providing daycare services for children and the parents who pay for those services. We take a look at the various tax deductions daycare providers may use and the childcare tax credit that the parents may claim.
Medicare and Medicaid were signed into law in 1965 to help provide health care to older individuals and those with financial need. Do you know the difference? We explain!
Charitable contributions are not always cash donations. They can take many forms. We look at the issues a taxpayer may encounter related to non-cash contributions.
Exchange-traded funds have some attractive features that set them apart from mutual funds, including diversification, tax efficiency, and lower expenses.
Don’t risk your financial future by not educating yourself about which investments may be able to help you pursue your financial goals.
Taxpayers sometimes think “tax deductions” and “tax credits” are the same. While they both help lower your tax liability, there’s a distinct difference between them. We explain!
COVID-19 may have kicked off a severe labor shortage, but longer-term demographic trends are partly to blame for this highly unusual job market.
The IRS issued more than 125 million individual income tax refunds in 2020; the average amount was nearly $2,600. We cover 3 tips to make your tax season easier.
How do you get customers to pay by the due date, or at least not long after? QuickBooks Online offers another tool for accelerating incoming payments: automated reminders.
This could be another rough tax season for the IRS and taxpayers because many returns still require manual review, resulting in significant delays in the IRS issuing refunds.
Whether you are single, married, employed, or a stay-at-home mom, you probably need life insurance. The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased.
Dollar-cost averaging involves investing a fixed amount on a regular basis, regardless of share prices and market conditions.
When a new stock enters the market, it is introduced as either an IPO or a direct listing. The path a company takes to the stock market generally depends on its business goals.
The more preparation time you put in to making your company a profitable venture will make the sale of your company easier and more successful. Good exit planning strategy is actually good business strategy.
Whether you’re trying to make a budget work or find ways to save more for a financial goal—cutting your spending is a key step.
Non-owner insurance is a type of liability insurance that provides coverage when you’re driving a car that isn’t yours—perfect for those who Uber everywhere!
Happy 2022 from Henssler Financial! With above-average 2021 financial market performance in our rear view, we look to the future as several topics are in focus for the new year, including the Federal Reserve’s heightened attention to inflation, rising interest rates and how company earnings may be affected, and if government actions will influence the market.
The basis of an asset is very important because it’s used to calculate deductions for depreciation, casualties, and depletion, as well as gains or losses on the disposition of that asset. We explain in this week’s Tax Tip.
If you use independent contractors to perform services for your business, for each one that you pay $600 or more for the year, you are required to issue the worker and the IRS a Form 1099-NEC no later than January 31, 2022, for 2021 payments.
Many taxpayers received advanced payments of the Child Tax Credit in 2021. This must be reconciled on your 2021 tax return.
Financing a college education with the least amount of debt requires planning, savings discipline, an understanding of financial aid, smart college research, and good decision making at college time.
A frequently overlooked tax benefit is the spousal IRA, which allows a nonworking or low-earning spouse to contribute to his or her own IRA, as long as his or her spouse has adequate compensation.
As seen in the Marietta Daily Journal: Bil Lako, CFP®, highlights some common mistakes investors make when it comes to required minimum distributions.
Are you a high earner but you’re not yet rich? If this sounds like you, it may be time to focus on growing wealth—even if it means making some temporary sacrifices.
Is your QuickBooks company file ready for 2022? Here are three things you can do to put things in order.
Looking for a good buy in the market? The price/earnings (P/E) ratio can be a helpful starting point for evaluating whether a company’s stock is under- or overpriced.
With the Infrastructure Investment and Jobs Act of 2021, cryptocurrency exchanges will have new information reporting requirements starting in 2023. The first reporting forms related to crypto transactions will be issued to the IRS and investors in January 2024.
QuickBooks was designed to be used by numerous types of small businesses. Custom fields help you tailor it to meet your own needs.
Debt, credit, and borrowing are a how most investors make large purchases, whether it is a car, a home, or college tuition. However, borrowing comes with a dangerous side as well.
Retailers have warned consumers that product shortages and shipping delays will continue—just what we needed this holiday season! Here is what you need to know.
If you are fortunate to have a large estate, you can make gifts without reducing your lifetime exclusion, including an annual gift exclusion and paying for medical or educational expense directly to the provider.
While you may have holiday music on and customers are swept up in a holiday rush, as a business owner, you have some important deadlines to meet before the end of the year.
Contributing to an employer-sponsored retirement plan or an IRA is a big step on the road to retirement, but contributing to both can significantly boost your retirement assets.
Your credit score is like your permanent record. While it can change over time, having a good credit score is important because most lenders use credit scores to evaluate the creditworthiness of a potential borrower.
The SECURE Act of 2019 raised the minimum RMD age to 72 from 70½ beginning in 2020. And new life expectancy tables will take effect in 2022. Learn more about these updates to RMDs.
Our tax system is set up to “pay-as-you-earn,” but there are situations where taxpayers can get into trouble and face underpayment penalties. We explain how to avoid these situations in this week’s Tax Tip.
It’s easy to go out to lunch with a client and forget to save the receipt, which means your books won’t be accurate. QuickBooks Online provides two ways to enter expenses: record on the site itself, or you can snap a photo with your phone using the QuickBooks Online mobile app.
It can be difficult to understand the basic lingo and acronyms used by tax professionals; however, to grasp what they are saying you need to be familiar with the basic terminologies used in taxation.
Has your business solved technological challenges, invested in software development, or re-engineered manufacturing processes? Your business may be eligible for the federal research and development tax credit.
If you’re employed, Open Enrollment is your once-a-year chance to make important decisions that will affect your health-care choices and your finances.
In 2020, seniors got a reprieve, but Required Minimum distributions have resumed for 2021. Don’t forget to take the withdrawal before the end of the year or face draconian penalties!
The difference between an out-of-network provider’s normal charges for a service and a lower rate reimbursed by insurance can be significant. Congress is helping in emergency situations.
How do you know if you can realistically afford to retire early? We look at what you need to consider before you speed up your retirement timeline.
If you have purchased, owned, sold, gifted, made purchases with, or used cryptocurrency in business transactions, there are certain tax issues you need to know about.
On the surface, bookkeeping is the process of keeping accurate, thorough records of your business financials. But once you begin to dive deeper, you see that it’s about so much more than that.
Because of the growing number of students who require student loans to finance their education, the federal government offers several flexible repayment plans. We cover these and more in our student loan basics.
With 2022 fast approaching, we have seven tax tips for you as you weigh potential tax moves before the end of the year.
Like everything else, the pandemic greatly impacted driving habits. In fact, there was a 55% decrease in the average number of miles driven in 2020. We look closer at usage-based auto insurance policies.
COVID-19 brought about a perfect storm of delays for the IRS. If you are caught up in the gridlock, not much can be done except to be patient.
Experts are clear and unified on the importance of getting accounting basics straight before worrying about the other details, even if those details cost money in terms of penalties.
Medicare open enrollment begins Oct 15! Determining what coverage you have now and comparing it to other Medicare plans can be confusing. Here is what you need to know about Open Enrollment.
If you think that education credits are just for sending your children to college, think again—the credits are available to you, your spouse, and your dependents.
While preferred provider organization health insurance is most common, high deductible health plans are gaining popularity. We explain how to compare the two.
Fall is the time when many high school seniors narrow their college lists and start applying to colleges. To help answer “how much does college cost?” you can use a net price calculator, which is available on every college website.
Opportunities for tax planning are available for all income levels but waiting too late in the year may not give you the time needed to take advantage of some of these strategies.
There are always tips and tricks to learn about the applications we use every day. Here are 8 tips for expanding your use of QuickBooks Online.
Research shows that the pandemic’s impacts on women have been far-reaching and potentially long-lasting. Now that the U.S. economy is picking up steam, it may be more important than ever for women to re-examine their retirement planning strategies.
While most married couples choose to file a joint return, there are reasons a couple may choose to file separately. However, Congress carefully writes the tax laws to eliminate tax breaks for those filing MFS and can make filing very complicated.
Family businesses often fail just the same as others do. If you truly want to make sure that yours gets off on the right foot, we provide a few key things to keep in mind.
Becoming familiar with a few basic concepts could help you have more confidence in your investing decisions.
If you could not complete your 2020 tax return by May 17 and are now on extension, that extension expires on October 15, 2021.
For small businesses, a Chapter 11 bankruptcy to restructure took time and was cost-prohibitive. With the expansion Subchapter V and the higher debt limit extended to March 27, 2022, small businesses have a lifeline!
Home prices are so high that some buyers are backing off, but demand remains strong and will outstrip housing supply for the foreseeable future.
All too often, taxpayers wait until after the close of the tax year to worry about their taxes and miss opportunities that could reduce their tax liability or financially assist them. In this Tax Strategist article, we list events that can affect your tax return. Taking steps now to mitigate their impact, may help you avoid unpleasant surprises next year.
When your life circumstances change, you have a fresh opportunity to make sure the people you love are protected through life insurance.
A letter of instruction could be just as important as a Will to help your heirs settle your estate and move forward with their lives.
With the wildfires in the west, hurricanes, and flooding in the southeast and eastern seaboard, we have had several presidentially declared disaster areas this year. Taxpayers in disaster areas are eligible for a variety of tax benefits.
As a business owner, you need to keep up with what is happening with both the government and pandemic and how it affects your business.
Holding more than 10% to 15% of your assets in company stock could upend your retirement strategy if the stock suddenly declines in value.
As a grandparent, if you have custody of your grandchild, you may be eligible for tax breaks.
As bad as preparing taxes can be, it pales in comparison to the sinking sensation of receiving an IRS notification telling you that you’ve done something wrong.
Parenthood can be both wonderfully rewarding and frighteningly challenging. You want to make sure that they are financially secure, but meeting expenses can be tough. Fortunately, you can take steps to prepare.
There have been four student loan payment pauses since the start of the pandemic. The latest pause extends repayment obligations for federal student loan borrowers to January 31, 2022.
If you operate an online store, be aware that states can require out-of-state companies to collect and remit sales and use taxes from their customers.
Grandparent-owned 529 plans were treated more harshly than parent-owned 529 plans on the FAFSA. This will change thanks to the FAFSA Simplification Act that was enacted in December 2020.
Employees can donate their unused paid vacation time, sick leave, and personal time off to qualified charities that provided COVID-19 relief through January 1, 2022.
Government is cracking down on harmful corporate monopolies. This could be good news for the U.S. economy and small-business owners.
We all dream of a distant, rich uncle who will leave us lots of money in his will; however, an inheritance comes with lots of consequences. We provide 6 tips to manage your newfound wealth.
If you postponed your “I Do’s” in 2020, and are recently married in 2021, here is a checklist of “to do’s” to help you make some important tax decisions.
Most homeowners insurance policies provide limited coverage for personal property at an additional residence. However, if your coverage needs for your vacation home exceed this amount, you’re going to want to fill this gap by purchasing a policy that will cover your vacation home in its entirety.
As life emerges from the pandemic to a “new normal,” a mid-year financial checkup may be more important than ever this year.
132 countries that represent more than 90% of worldwide gross domestic product recently agreed to reform international tax laws to “ensure that multinational enterprises pay a fair share of tax wherever they operate.”
There are many ways to encourage delinquent customers to pay. QuickBooks Online’s statements may be effective for you.
If you tend to keep stuff because you “might need it someday,” your desk or home office is probably overflowing with nonessential documents. An important part of managing your personal finances is keeping your financial records organized.
Still waiting on your federal tax refund from the IRS? You’re not alone. The agency is facing a backlog of 35 million returns.
Regardless of your age or financial knowledge, you can be certain that criminals are hatching schemes to separate you from your money. We highlight four common practices that may help you identify a scam and avoid becoming a victim.
According to the 2021 Retirement Confidence Survey by the Employee Benefit Research Institute (EBRI), retirement preparations vary quite a bit by age group.
Are you contemplating trying your hand at flipping? If so, keep in mind that you will have a silent partner, Uncle Sam, who will be waiting to take his share of any profits in taxes.
Ransomware is malicious code that infects your computer system, allowing the perpetrator to lock the files and demand a ransom in return for a digital key to restore access. We look at how to protect yourself.
No matter how much you try to make objective decisions, you may be tempted to guess at market movements. One approach that should alleviate the guesswork is dollar-cost averaging.
If you are considering starting a business, the simplest and least expensive form of business is a sole proprietorship. However, sole proprietors are 100% personally liable for all business debts and legal claims. Here is what you need to know.
Every day, women face a variety of risks to their life, their health, and their property. Although you can’t eliminate many of these risks, you can take steps to guard against resulting financial losses. Insurance is the primary way to provide needed protection.
A failed business, a contemptuous divorce, or even a disability—all could cause devastating financial issues. Can a creditor come after your retirement savings? We answer in our Financial Tip.
For small businesses, June was all about labor shortages and higher input costs; however, that’s not all that happened. Read about the top 5 things that happened.
Recent studies reveal an alarming trend: The percentage of older Americans with debt is at its highest level in almost 30 years, and the amount and types of debt are on the rise.
Now that you’re working remotely, are you considering moving to a state with no state income tax? Before you do, do your homework.
Emergencies often cost money—car repairs, hospital bills, lost job, etc. Having a financial safety net in place can ensure that you’re protected when a financial emergency arises.
Do you have a balance due with the IRS? It’s time to pay up. The IRS is resuming “certain collection and enforcement processes that had been suspended because of the coronavirus pandemic.”
As the economy reopens, consumers and businesses are again experiencing a wide array of shortages and trouble hiring workers, as well as, acquiring sufficient supplies of raw materials and key components needed for manufacturing.
Corporations sell bonds to finance operating cash flow and capital investment. Corporate bonds usually offer higher interest rates—and are subject to more risk—than U.S. Treasury securities with comparable maturities. Investors who rely on corporate bonds for retirement income, or to help temper the effects of stock market volatility, should consider the degree of risk they are willing to accept in their bond portfolios.
The American Rescue Plan Act included several tax benefits that will impact families with children and lower-income taxpayers during 2021, including increased childcare benefits, an increased child tax credit, as well as advanced monthly payments for some.
As a business owner, you need to manage the cost of your insurance by striking a balance between self-insurance and transferring the risk to an insurance company. We explore your options.
You’ve moved on to greener pastures, but what should you do about the money in your old employer’s retirement plan? We weight the pros and cons of a IRA rollover.
Children love getting gifts, but if you’re planning on gifting a ton of cash, there are some tax issues to consider.
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 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.
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.
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.
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!
Business Owners: Do you have a lot of aging receivables? Assessing finance charges can speed up customer payments.
Over the past year, inflation increased 2.6%, the highest year-over-year inflation rate since August 2018. The question on every investor’s mind is, “Where will it go from here?”
The American Rescue Plan Act of 2021 makes substantial, temporary improvements to the child tax credit for 2021, if you have qualifying children under the age of 18.
State labor laws vary widely but affected small businesses may face challenges as minimum wage increases take effect over the next few years. Eight states (plus the District of Columbia) have passed legislation to raise the minimum wage in steps to $15.
The Consolidated Appropriations Act included several provisions related to education, including $22.7 billion for colleges and universities and a simplified FAFSA.
President Biden presented his proposed American Families Plan (AFP)—his wish list of changes; however, Congress will need to draft legislation that will have to pass in both houses before becoming law.
It’s no surprise that the coronavirus pandemic significantly hurt the restaurant and hospitality business sector. The Restaurant Revitalization Fund—part of the American Rescue Plan Act—is designed to help eligible businesses keep their doors open.
Even if you still make mortgage payments in retirement, the equity in your home is a valuable asset. In this week’s Financial Tip we explore the opportunities that come with home equity.
As a reminder to those who have not yet filed their 2020 tax returns, May 17, is the due date to either file a return (and pay the taxes owed) or file for an automatic extension (and pay an estimate of the taxes owed). Normally April 15 is the due date, but this year the IRS extended it until May 17.
It would be impossible to reconstruct your QuickBooks file from scratch, and you can’t afford to have a hacker steal any of your funds.
Sustainable, responsible, and impact (SRI) investments now account for nearly one-third of all professionally managed U.S. assets. This upward trend suggests that many people want their investment dollars to pursue a financial return and make a positive impact on the world.
If you’re due a federal tax refund for 2017, time is running out for you to claim it!
The U.S. Small Business Administration (SBA) is expanding loan opportunities so that nonprofits and small businesses will be able to borrow up to $500,000 for up to 24 months.
Take this 4-question quiz to see if you understand retirement plan rules.
If you are unable to pay the tax you owe, it is generally in your best interest to make other arrangements to obtain the funds for paying your taxes. We explore a few options to consider in our Tax Tip.
New business owners, especially those operating small businesses, may be helped by a tax provision allowing them to deduct up to $5,000 of the start-up expenses and $5,000 of organizational costs in the first year of the business’s operation.
As an investor, you may wonder what a stock split is and how it might affect your portfolio. A common misconception is that splits automatically increase the value of an investor’s holdings.
If you or a dependent have already filed your federal return with unemployment income, the IRS will automatically adjust your return to account for the American Rescue Plan’s $10,200 exclusion.
Your dog bites your child’s friend’s parent. Your homeowner policy should respond if you are found liable for accidents that happen on your property. But what about damages that exceed your liability limits on your policy?
The funds rate affects many short-term interest rates, including the rates on money market mutual funds, which were already low to begin with. What’s the appeal with such a low return? Stability and liquidity.
APRIL 2021, KENNESAW, Ga.— Readers of Cobb Life magazine and the Marietta Daily Journal nominated and voted Henssler Financial as Best Investment Firm, and John Dickson, CPA, CVA, CFP®, as Best Accountant in the 2021 Best of Cobb list. “We try to consistently improve our corporate culture and both client and employee experience,” said firm…
Tax credits are a tax benefit that offsets your actual tax liability, as opposed to a tax deduction, which reduces your income. The following is a summary of some of the tax credits available to individual taxpayers:
The housing market during the coronavirus pandemic has certainly been notable. Historically low interest rates resulted in record homebuying, even as housing prices escalated.1 Fortunately, the mortgage industry has been able to keep up with the pace of the real estate market by utilizing already existing technology. Homebuyers can search for lenders, compare interest rates,…
The recently passed American Rescue Plan Act includes a provision for the federal government to pick up the cost of COBRA health coverage for employees’ involuntary termination of their employment or reduction of hours subject to certain qualifications.
If your teens or grandchildren talk about becoming a famous gamer on YouTube, you may think their dreams of playing video games is ridiculous. However, their passion for playing can become a real business.
Financial aid is essential for many families. Can you separate fact from fiction when it comes to this important piece of the college financing puzzle?
Single and MFJ are just the tip of the iceberg when it comes to determining the proper and most beneficial filing status.
Usually, term life insurance costs less than permanent life insurance for the same amount of death benefit. However, here are six reasons why you might consider converting your term life insurance to permanent life insurance.
An estimated 145 million Americans own real estate investment trusts (REITs) in their retirement accounts and other investment funds. The primary appeal of REITs is the potential for a consistent income stream and greater portfolio diversification. Of course, like all investments, REITs also have risks and downsides.
Henssler Financial has been awarded a Top Workplaces 2021 honor by The Atlanta Journal-Constitution Top Workplaces. The list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage, LLC.
We offer 7 personal finance tips that can benefit every person working as part of the freelance and gig economy.
An important part of any retirement strategy involves factoring in the potential expenses associated with long-term care. For many years, people have purchased long-term care insurance to help cover some of those costs. However, over the past decade, other insurance products have become available that combine life insurance with some type of accelerated and/or extended…
As one of several government measures intended to help financially stressed citizens, a third, much-anticipated economic impact payment (EIP) was approved by Congress.
With what appears to be endless fiscal stimulus and rising volatility in the stock market, many investors are asking themselves if they should be investing in gold. The precious metal is often seen as a safe-haven from economic downturns; however, the basis for that argument is merely because it is a widely held belief. Like cash without the erosion of inflation, gold ownership is thought to be a way to store economic value.
We explain what to do if you received a 1099-G for unemployment benefits you didn’t receive.
When multiple business entities make a decision to start a new business together as a cooperative arrangement, they form what is known as a joint venture. In creating a joint venture, each of the involved entities agrees to what assets they will contribute, how they are going to distribute income and share expenses, and how the new entity will move forward.
If we’ve learned any lesson over the past year, it’s that no matter how carefully we plan and prepare, we’ll likely encounter unexpected hurdles. While a global pandemic has certainly underscored the need to pay close attention to our physical wellness, it has also revealed the need to shore up our financial wellness. According to…
Thinking about going solar? There’s a lot to consider before making the final decision. Is it worth it, and is it the right financial move for you?
To help trades and businesses to retain employees and keep them employed during the COVID-19 crisis, the Coronavirus Aid, Relief, and Economic Security (CARES) Act created the Employee Retention Credit for 2020. As part of the Consolidated Appropriations Act, 2021 (CCA), the credit has been extended through June 2021.
The Consolidated Appropriations Act, 2021 (CCA), which was passed by Congress and signed by the president late last December, included a very tax-beneficial provision that liberalized the interaction between PPP loans and the Employee Retention Credit (ERC).
Growth stocks have dominated the market for the last decade, led by tech giants and other fast-growing companies. Past results are never a guarantee of future performance, but it may be helpful to value stocks and the place they hold in your portfolio.
As tax time approaches, we list out 20+ tax issues that taxpayers frequently overlook, ranging from obscure deductions to overlooked tax credits and benefits.
Many companies have transitioned to having a majority of their employees work from home. Even when the pandemic eventually subsides, working remotely may be here to stay.
The coronavirus pandemic has strained the finances of many U.S. households. During these times of financial turmoil and stress, it’s more important than ever to take control of your financial situation. Here are some tips to get started.
Are you a day trader? In addition to being highly risky, there are tax implications!
The COVID-19 pandemic has increased the chances of getting sick and not being able to work for an extended period, making disability income insurance (DI) more important than ever, regardless of your age.
New changes to the FAFSA, including a significant reduction in the number of questions, will take effect for the 2023-2024 school year.
Tax time is right around the corner — Are you prepared? We outline where to begin, what’s new for 2020, and which transactions deserve extra attention.
For 2021 and 2022 only, the Taxpayer Certainty and Disaster Tax Relief Act of 2020 allows businesses to deduct 100% of business meal expenses.
Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for 2021, other key numbers have increased.
The anticipated cost of Biden’s American Rescue Plan, if all of the proposals are agreed to by Congress, is $1.9 trillion. We outline 11 proposals that may affect your taxes.
In the Consolidated Appropriations Act, 2021, is a second draw of forgivable Paycheck Protection Program (PPP) loans.
Saving for retirement is not easy but using your retirement savings wisely can be just as challenging. How much of your savings can you withdraw each year? Withdraw too much and you run the risk of running out of money. Withdraw too little and you may miss out on a more comfortable retirement lifestyle. For…
We provide an overview of many of the tax provisions included in the Consolidated Appropriations Act, 2021.
Whether you’re a current business owner or a budding entrepreneur burning with the next great idea, one of the most important steps you can take on your road to success is creating a business plan.
We can honestly say we never expected to see anything like we did on Jan. 6, 2021 in this country. Watching the appalling display at the Capitol leads to fear and anger. It can even lead to a feeling of helplessness.
2021 might be the year you should ask a tax professional to help address some of the unique tax challenges that COVID-19 has caused for your 2020 taxes.
The arrival of an effective vaccine could inspire some consumers, though it probably won’t be widely available until spring. Until then, consumers will likely spend more time at home.
Medicare premiums, deductibles, and coinsurance amounts change annually. Here’s a look at some of the costs that will apply in 2021 if you’re enrolled in Original Medicare Part A and Part B.
Some folks have been tapping or suspending their retirement savings to make ends meet during this COVID-19 pandemic, and while understandable, it is important that they continue making contributions to their savings as quickly as financially possible.
The short- and mid-term outlook for small businesses is still uncertain. We provide four steps to help you visualize what recovery might look like for your business as the economy inches toward normalcy.
Market losses on the front end of retirement could have an outsize effect on the income you receive from your portfolio by reducing the assets available to pursue growth when the market recovers
As you move through different stages of life, there are new financial opportunities and potential pitfalls around every corner.
Are you giving your employees a holiday gift? It may be taxable – we explain.
During the holiday shopping season, your credit score is probably the last thing on your mind. But as you start your seasonal spending, remember to use credit wisely so you can start the new year with a healthy credit score. The following tips can help you maintain or potentially improve your credit score throughout the…
Spousal IRAs allow a non-working or low-earning spouse to contribute to their own IRA, provided their spouse has adequate compensation.
If you are a small business owner, every penny of your income counts. This means that you not only want to optimize your revenue, but also minimize your expenses and your tax liability. Unfortunately, far too many entrepreneurs are not well-versed on the tricks and tools available to them and end up paying far more…
Federal and state governments have spent extraordinary sums in response to the economic toll inflicted by the COVID-19 pandemic. At some point it is likely that governments will look for ways to increase revenue to compensate for this spending and increase income taxes as a result. That’s why it might be a good time to…
If you receive a CP2000 notice, you don’t need to panic — but you do need to know what to do.
2020 has given rise to more than the usual tax-planning opportunities. You’ll need to act before the end of the year to take advantage of the tax benefits and strategies available for 2020.
When it’s time to prepare the next generation for a financial legacy, you might want to bring your family members together to talk about money.
The IRS has warned taxpayers of a clever scheme by internet scammers to dupe taxpayers into revealing their bank account information under the guise of receiving the $1,200 Economic Impact Payment (EIP) that Congress authorized last Spring.
We provide details on the SBA’s audit process for PPP Loans of $2 million or more, as well as the Loan Necessity Questionnaires that will be issued.
You can get the most out of open enrollment if you take the time to reach through the information before making any decisions.
In early 2020, 61% of U.S. workers surveyed said that retirement planning makes them feel stressed.1 Investor confidence was continually tested as the year wore on, and it’s likely that this percentage rose — perhaps even substantially. If you find yourself among those feeling stressed heading into the new year, these tips may help you…
We provide an overview of issues related to being the beneficiary of an inheritance.
We list 12 metrics that are extremely beneficial in helping you understand where your money is at any time.
A high cost of living can become a bigger concern in retirement, when you may need to stretch a fixed income or depend solely on your savings for several decades.
Each year, the IRS to adjust the tax rates, standard deductions, and a variety of other tax related numbers to cope with inflation.
This year has been challenging on many fronts, but one financial opportunity may have emerged from the economic turbulence. If you’ve been thinking about converting your traditional IRA to a Roth, now might be an appropriate time to do so.
If you have lost your job, there are a number of tax issues you may encounter. How you deal with these issues can profoundly impact your taxes and finances.
Are you self-employed? You may be able to deduct 100% of the insurance premiums paid at the end of the year without itemizing deductions.
Federal student loan relief was extended through December 31, 2020. Additionally, no interest will accumulate on the loans — the interest rate will remain at 0% through 2020.
You have probably heard others discussing living trusts but may not understand the reasons for them or whether you should have one.
The original PPP loan forgiveness application practically required an accounting degree to figure it out. We explain the SBA’s new simplified form: SBA Form 3508EZ.
Your income from two years prior is what counts on the FAFSA. For example, the 2021-2022 FAFSA will rely on income information in your 2019 tax return.
Thinking about going solar? You might be eligible for a federal tax credit for the purchase and installation costs.
Business Owners: Records management is vital because it can help you analyze where your business is and, more importantly, where it’s going.
OCTOBER 2020, KENNESAW, Ga.— Henssler Financial ranks at No. 80 on CNBC’s Financial Adviser 100 list, published on Oct. 6, 2020. The list celebrates the advisory firms that offer a comprehensive service that helps clients navigate through their financial life. “It’s always wonderful to be recognized for your work,” said Dr. Gene Henssler, Ph.D., president…
If your nest egg has shrunk as a result of market turmoil but you continue to take the same amount of money out of it each year, you might be increasing your odds of running out of money sooner than you had planned.
Whether moving for a new job, to be closer to family, to retire, or for some other reason, don’t forget about taxes!
While it may seem too risky to launch a business with coronavirus and an impending global recession, we offer three reasons why a recession is a great time to launch a startup.
If you e-filed and mailed a check to the IRS to pay your taxes, you may still receive a tax-due notice.
Do you gamble online at a casino located overseas? Do you have relatives in a foreign country who put your name on their bank account in case of emergency? You may have an FBAR requirement and not even realize it!!
Philanthropy cannot only give you great personal satisfaction, it can also give you a current income tax deduction, let you avoid capital gains tax, and reduce the amount of taxes your estate may owe when you die.
This chart provides a side-by-side comparison of the two front-running presidential candidates’ tax plans for the future. However, there is no assurance these plans won’t be revised or that they will have eventual Congressional backing.
Own a business? If you pay an independent contractor $600 or more for the calendar year, you are required to issue a Form 1099-NEC soon after the end of the year to avoid penalties.
Now that your child is in college, it’s time to reinforce good money habits with lessons in Budgeting 101.
If you could not complete your 2019 tax return by the extended July 15 deadline and filed a request for additional time, that extension expires on October 15, 2020.
We explain how the payroll tax deferral could affect your business.
While ROP life insurance returns some or all of the premiums you paid if you live past the term of your policy and haven’t cancelled coverage, that benefit comes at a cost.
If you are thinking about refinancing your current home loan, consider the tax ramifications before making your decision, as the 2018 tax reform made some changes that may impact it.
If you own a business and have employees working remotely, you may need to take a closer look at how nexus will be addressed.
If you are one of the millions of Americans with debt, you might wonder what happens to it when you pass away. As with most things financial, it depends.
Are you stir-crazy and just need to get away? Are you required to travel for business? Before you plan your next trip, read the three things you should consider.
Wealth transition and succession planning were always complicated processes—COVID-19 did not do it any favors.
If your child received Social Security, Supplemental Security Income, Department of Veterans Affairs or Railroad Retirement Board benefits and did not file a tax return for 2018 or 2019, they may be eligible for an Economic Impact payment.
Although disasters usually strike without warning, there are measures you can take both before and after they strike to protect your property and your finances.
We provide basic guidelines to help you accumulate funds for a short-term goal, such as a wedding or a down payment on a home.
Mortgage refinancing applications surged in the second week of March 2020, jumping by 79%— the largest weekly increase since November 2008. As a result, the Mortgage Bankers Association nearly doubled its 2020 refinance originations forecast to $1.2 trillion, the strongest refinance volume since 2012.1 Low mortgage interest rates have prompted many homeowners to think about…
With the July 15 tax filing deadline behind us, it’s time to start thinking about your 2020 taxes.
If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about—or one that you do know about but are ignoring.
As you prepare for life with your baby, here are a few things you should think about.
There are 26 states where laws generally hold children financially responsible for certain debts of their parents.
The WOTC is typically worth up to $2,400 for each eligible employee, but it can be worth up to $9,600 for certain veterans and up to $9,000 for “long-term family assistance recipients.”
The 2020-2021 academic year is right around the corner, and the coronavirus pandemic has upended the college world, like everything else.
There are certain situations when having home improvement records could save taxes.
If you volunteered your time for a charity or governmental entity during the COVID-19 pandemic, some deductions are permitted for out-of-pocket costs incurred while performing the services.
When a financial emergency arises, do you find yourself scrounging for pennies? Consider setting up an emergency reserve. Learn more in this week’s Financial Tip.
The IRS and other government agencies have noted a rise in scams and other fraudulent activities surrounding the COVID-19 crisis.
With jobs at a premium during the COVID-19 pandemic, you might consider hiring your children to help with your business. Financially, it makes more sense to keep family employed rather than hiring strangers, provided, of course, your family member is suitable for the job. Note, however, that wages paid to children and other relatives aren’t…
The IRS provided COVID-19 guidance for health Flexible Spending Arrangements and section 125 cafeteria plans related to high-deductible health plans through Notice 2020-29.
With billions left to be distributed in Payment Protection Program money—why did Congress have to extend the PPP in the first place?
Most economists believe that GDP will turn upward in the third quarter, but it will take sustained growth to return the economy to its pre-recession level.
Regardless of who wins the next election, with rising deficits, government spending skyrocketing, and revenue dropping due to the COVID-19 pandemic, taxes will surely go up in coming years.
The IRS has issued guidance to assist employers and plan administrators on how to report coronavirus-related distributions and how individuals may report these distributions on their individual federal income tax returns.
Behaviors have changed during the Coronavirus outbreak. We list five of these that could end up being positives for small businesses moving forward.
From converting traditional IRAs to taking advantage of the RMD suspension for 2020, this year provides unique tax opportunities for those who have traditional IRA accounts.
If you’ve already received your economic impact payment, you’ve probably already received Notice 1444. Make sure you keep it, as you may qualify for a refundable credit on your 2020 return.
Wills and trusts are common estate planning documents. While each can help in the distribution of assets at death, we outline seven key differences between the two.
Due to COVID-19, the IRS extended the tax filing deadline to July 15th—but that tax deadline applies to other items!
The desire to become a more disciplined investor is often tested by the arrival of your account statements.
You may be able to convert unused paid vacation time, sick leave and personal leave for cash payments that your employer can donate to COVID-19 relief charitable organizations.
Read highlights of about the current financial condition and challenges both Social Security and Medicare face.
For the second year in a row, interest rates on federal student loans will decrease for the 2020-2021 academic year.
The purpose of this credit is to reward businesses that pursue innovation by continually increasing investment in research activities.
While the CARES Act made it easier to access money in retirement plans, understanding these new guidelines and other rules for loans and early withdrawals may help you determine if this is an appropriate option during a financial crisis.
Congress passed the Paycheck Protection Program Flexibility Act (PPPFA) of 2020, which makes substantial changes to PPP Loans.
Teach younger children some simple lessons today that will give them a solid foundation for making a lifetime of sound financial decisions.
Was your economic impact payment more or less than you expected? We explain why and what happens if you received more than you should have.
The first part of 2020 was rocky, but there should be better days ahead. Taking a close look at your finances may give you the foundation you need to begin moving forward.
How has the first quarter of 2020 affected retirement confidence?
Around 4 million individuals were sent stimulus payments on a Visa debit card, which some threw away thinking it was junk mail.
In this current time of need, many charitable organizations are seeking contributions to help the greater good. We explain why that contribution should come from your bank account and not your business.
It can be difficult to act rationally when your financial future is at stake, especially when unexpected events like COVID-19 upset the markets.
Let the changes begin! As we have mentioned in previous articles, there would be guidance on the CARES Act related to the forgiveness of Paycheck Protection Program (PPP) loans. Buckle up, as the changes are now here. The Paycheck Protection Flexibility Act was introduced by the House on May 26 and was approved by the…
One of the most common types of scams these days technically doesn’t involve any hacking but can cost your business time and money.
Headline-induced price swings suggest that investors are making investment decisions driven by hopes and fears, and possibly based on limited information.
COVID-19 has had an unprecedented impact on all aspects of American businesses, but perhaps none have been as severely affected as small business owners. Surviving this disaster will require more than just time: you will need to take a pragmatic view of what has happened and what steps you are willing and able to take…
Generally, drug and alcohol addiction treatment expenses are tax deductible as itemized deduction medical expenses.
Concerned how your Advance Directives or Do-Not-Resuscitate Orders may affect you in the event of COVID-19 and the use of ventilators?
If you and your partner are among the millions whose finances have been impacted by current events, now is the time to make sure you have a plan in place to allow you to work together through the crisis.
You have until your tax return due date (not including extensions) to contribute up to $6,000 for 2019 ($7,000 if you were age 50 or older on December 31, 2019).
As part of the stimulus package to help offset the financial damage inflicted on businesses as a result of the COVID-19 crisis, rolled out some big tax benefits.
PPP loans are partially forgivable if used payroll–It may seem simple at first glance, but this is before taking into consideration all of the minutiae built into the loan forgiveness computation that will reduce the forgiveness.
Rules are subject to change; however, you can be prepared to apply for PPP Loan forgiveness. Read our additional SBA Forgiveness Application instructions to help you fill out the form
We explain why investing with an eye to the long term is particularly important with stocks.
Unemployment benefits are taxable income for federal tax purposes and also taxable by most states.
We list some of the more prevalent coronavirus scams that consumers need to watch out for.
Before you make any hasty decisions, be sure you understand how these reports relate—or don’t relate—to your individual portfolio.
Creating an emergency fund is unfortunately not a passive enterprise—but over time, it can provide the savings you need to weather nearly anything that life happens to throw at you.
The tax code includes a provision that allows the IRS to waive the required foreign residency and presence periods in case of war, civil unrest, or other adverse conditions.
Understanding your biases may help you avoid questionable calls in the heat of the financial moment.
The CARES Act created additional business provisions for bonus depreciation, student loans, limitations on losses and business interests, as well as alternative minimum tax (AMT) credits.
The IRS will let employers allow mid-year changes to their employer-sponsored health care and dependent care elections.
To encourage charitable contributions to deserving qualified charities during these trying times, Congress has relaxed some of its restrictions related to how much a taxpayer can deduct as a charitable contribution in any given year.
Need to tap your retirement accounts for coronavirus-related reasons? We explain how the IRS is addressing the tax issues.
If you are struggling financially due to the COVID-19 epidemic, the CARES Act makes it easier for you to access your retirement funds during this emergency.
The IRS announced Friday that time is running out for taxpayers to go to the Get My Payment website to enter their direct deposit information in order to receive an electronic economic impact payment (IR-2020-92). Taxpayers must enter their bank account information, if needed, by noon on Wednesday, May 13. After that date, any stimulus payments that have not been processed will be transferred to the Bureau of Fiscal Services for paper checks to be delivered, which the IRS estimates will arrive beginning in late May to early June.
The IRS has finally started making those much-anticipated Economic Impact Payments. Did you get yours? Was it correct?
One of the benefits included in the COVID-19 epidemic stimulus package is the ability for an employer to defer payment of the employer’s share of certain federal payroll taxes.
As a business owner, there is a lot you need to consider before you reopen your doors. Our friends at Pritchard & Jerden compiled some best practices to consider before opening your business back up to the public.
In this strange and disorienting period of isolation due to the COVID-19 pandemic, many workers who’ve been told to work from home are wondering whether they’ll be eligible for that additional tax benefit.
Documentation is going to play a big part in getting your PPP loan forgiven. Don’t wait eight weeks to start collecting proof. Here is our advice for starting now.
A volatile market is never easy to endure but learning from it can better prepare you and your portfolio to weather and take advantage of the market’s ups and downs.
Criminals don’t take a break during a pandemic. Learn how one client almost lost over $90,0000 because of malware!
Businessowners must carefully consider which tax benefit or combination of tax benefits works best for their particular set of circumstances, particularly the choice between the retention credit and the SBA paycheck protection loans, since a business cannot qualify for both.
We explain the CARES Act’s retroactive postponement of, and changes to, the limits on excess business losses.
With fewer drivers on the roads because of the shelter-in-place orders, many major insurance carriers are giving policy holders rebates in April and May.
Under the CARES Act, unemployment benefits are now available for self-employed individuals, independent contractors and others who are unable to work because of the coronavirus emergency.
Market downturns stink for investors, but they often present opportunities for tax savings. Should you consider a Roth Conversion?
Applied for EIDL funds before they ran out? If the window to apply reopens, you may have to reapply depending on your application number.
The federal government is providing sick leave benefits and child care leave benefits to affected taxpayers whose employers have fewer than 500 employees.
On April 23, Gov. Brian Kemp released an executive order detailing the requirements and precautions businesses must follow when reopening starting on Friday and Monday.
After weeks of shutdowns in response to the COVID-19 pandemic, some businesses and workers are eager to return to work. Maintaining the safety of your employees and customers is paramount.
Have you considered rebalancing your portfolio to help deal with a volatile market?
If you’re a small business owner struggling financially due to the COVID-19 outbreak, there is help available.
As an employer, you need to know how COVID-19 affects your employees’ benefits. Our friends at Pritchard & Jerden supplied this great FAQ for dealing with benefit issues during this crisis.
We outline the specifics of the April 15 filing deadline extension.
If you found yourself unemployed/underemployed by COVID-19, the government has provided an estimated $260 billion in expanded unemployment insurance benefits.
This Act makes significant changes to previously existing rules regarding both the Family Medical Leave Act (FMLA) and Emergency Paid Sick Leave.
Over the next few weeks, we are confident we will receive guidance on how PPP Loans will be forgiven. Meanwhile, we provide advice on tracking how the funds are being used.
The passage of the $2 trillion coronavirus pandemic stimulus package includes many tax and financial breaks for both individuals and businesses.
While we would all love a tax break now, maybe in the long term it would be better if we were to take advantage of this situation and clear out of some of those large gains.
Download this helpful overview of the Small Business Relief program under the CARES Act from our friends at Steptoe:
The U.S. Department of Labor has released updated eligibility criteria for unemployment insurance programs to include people that have become unemployed as a direct result of the coronavirus outbreak.
Have an employee with coronavirus? The CARES Act provides for paid sick leave for the employee and tax credits for your expenses.
The IRS launched an online tool for those who don’t normally file a tax return or have too little income to file to register for Economic Impact Payments.
The CARES Act aims to help businesses keep employees during closures because of COVID-19. Learn more about the Employee Retention Credit and Delaying Payroll Taxes.
Regularly adding to an account that’s designed for a long-term goal may cushion the emotional impact of market swings
If your business is struggling in the wake of COVID-19, this step-by-step guide from the U.S. Chamber of Commerce will help you through the application process for a low-interest small business loan.
While you may not have to take your required minimum distribution this year, you may still want to make a qualified Charitable Distribution from your IRA.
The Small Business Administration has never faced a challenge like the COVID-19 outbreak, but they’re stepping up to help small business owners who are suffering financially during these uncertain times.
Readers of Cobb Life magazine and the Marietta Daily Journal nominated and voted Henssler Financial to the Best of Cobb list for 2020 in the Investment Firm category.
The CARES Act provides relief for those with federal student loans and a bonus benefit if your employer offers tuition assistance!
Unfortunately, there are those among us who would take advantage during this crisis.
Check out this bulletin prepared by our friends at Pritchard & Jerden, Inc. that details how small and midsize employers can use two new refundable payroll tax credits for coronavirus paid leave.
Even if you feel that your portfolio needs adjusting, maintaining a firm grasp on your fundamental investment strategy can help you be more thoughtful about making any changes.
Thanks to the CARES Act, your Economic Impact Payment of up to $1,200 for individuals or $2,400 for married couples and up to $500 for each qualifying child will be deposited directly into the same bank account used on your tax return within three weeks.
While uncertainty can make you nervous, it does not have to be a cause for alarm. Having a financial adviser on your side to help you navigate the unknown can help to ease your mind, allowing you to focus on running your business.
The CARES Act provides $349 billion for the new “Paycheck Protection Program” (PPP) and $10 billion for SBA to provide emergency EIDL grants until Dec. 31, 2020. These should be excellent resources for small companies whose business is struggling with social distancing.
Check out this guide prepared by the U.S. Chamber of Commerce to help small businesses and self-employed individuals prepare to file for a SBA Paycheck Protection Program Loan!
If you’re thinking about tapping into the value of your home, you should understand the two district types of home equity loans.
If you have already taken your 2020 RMD, and you don’t need the money, the CARES Act gives you some options.
The COVID-19 outbreak is affecting every facet of our lives—including our taxes. This article addresses frequently asked questions about how you may be impacted.
There are several tax-related provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act for both individuals and businesses.
In this special series covering the CARES Act, we start with sections 2202 and 2203, as they can provide some immediate relief if needed.
In response to COVID-19, on March 20, 2020, the Department of Education announced terms for student loan relief for tens of millions of borrowers.
The most important thing you need to know about sales tax in QuickBooks is that administering it correctly can be challenging
Government savings bonds are generally deemed risk free because it is unlikely the U.S. government will default on its obligation to bond holders. However, there are other types of risk to consider.
We have gathered information from trusted resources to provide you the following detail regarding The Families First Coronavirus Response Act.
Dr. Gene didn’t know it would be Coronavirus, but he knew it would be something. That’s why he has 10 years of liquidity in his portfolio. If you were a client of ours, you would too.
History doesn’t repeat itself, but it often rhymes. Putting current market volatility into historical perspective can help you stay the course during turbulent times.
We look at the inevitable: an economic slowdown, and what we don’t know: the economic impact of the Coronavirus outbreak.
The need to file IRS Form 941 is more common than you think.
We offer tips if you’re getting a late start on saving for retirement.
To encourage U.S. taxpayers to move away from gasoline-powered motor vehicles, Congress has provided various tax credits for purchasing electric or alternative fuel vehicles.
Conventional wisdom says that what goes up, must come down. But even if you view market volatility as a normal occurrence, it can be tough to handle when it’s your money at stake.
We explain some of the early economic impacts of Coronavirus, as well as what you should do amidst all this market volatility.
Employers that hire disadvantaged individuals, such as unemployed veterans, SSI recipients, and ex-felons, among others, may benefit from a substantial federal tax credit.
Tax time is always a bit unnerving, but when you’re hit with a large, unexpected tax bill, it can be shattering.
Learn how you can qualify for a tax credit for certain home renovations that make your primary home more energy efficient.
How well does a college meet your child’s needs? How much will it cost you and your child? We explain why these two questions can help your family evaluate college acceptances.
With market conditions in turmoil, it might be beneficial to gain perspective on how the financial markets have reacted to past catastrophic events.
Although this issue currently pertains to California, other smaller states are sure to follow, and this will ultimately become an issue for employers nationwide.
It’s easy to focus on a monthly loan payment, but to appreciate how much borrowing money might really cost, you also need to consider the amount of interest you’ll pay over time.
There’s nothing scarier than getting a letter from the IRS. We explain some red flags that might increase your chances of getting that dreaded piece of mail.
Anything that affects China, the world’s second-largest economy, can have a powerful ripple effect around the globe.
Owning a franchise can be a great way to break into the world of entrepreneurship. However, franchising isn’t for everyone.
Your personal finances can benefit from a good spring cleaning! Read our six tips to reducing debt.
Tax filing season is here again. If you haven’t done so already, you’ll want to start pulling things together.
The SECURE Act substantially restricts the “stretch” IRA provision. We explain the new rules and notable exceptions.
If you are considering establishing a qualified pension plan for your business, you may be entitled to the Credit for Small Employer Pension Startup Costs.
We explain four things you can do to help you improve what’s on your credit report.
Taxpayers now have a couple of optional tax benefits for post-secondary education expenses, and the rules related to each are different.
Have you made your 2019 IRA Contribution yet? You still have time.
If you’re considering investing in an organization or lending it money, you will likely need to get an audit, review, or compilation.
Two people may have the same annual income, but very different net worth.
With the passage of the Appropriations Act of 2020, more taxpayers may qualify for medical deductions.
Asset allocation is a common strategy that you can use to construct an investment portfolio.
To attract and maintain employees, your business may want to offer health insurance, life insurance and a retirement plan.
Your current income is the main factor that determines whether your child will qualify for aid, but it’s not the only factor.
Even if you are not required to file a tax return, there are several benefits available that can produce refunds.
If you’re getting a divorce, it’s important to understand the basics of divorce law.
We explain why you shouldn’t use your Will to transfer your business.
If you find that you are struggling to pay down a credit card balance, here are some strategies that can help eliminate your credit card debt.
Even though your monthly Social Security benefits may have increased because of inflation, the net amount you receive may actually be less per month because of increases in Medicare Part B and D premiums.
Buying insurance is about sharing or shifting risk, but you may think you’re covered for specific losses when, in fact, you’re not. Here are some common coverage gaps to consider when reviewing your own insurance coverage. Life Insurance In general, you want to have enough life insurance coverage (when coupled with savings and income) to…
We list six steps you can take to help build or repair your business’s credit score.
The FCC ranks unwanted robocalls highest on their list of consumer complaints. The new TRACED Act might help!
Congress passed many tax changes that became effective in 2020, as well as extensions through 2020 of several tax provisions that had expired or were about to end.
If you’re saving as much as you can, but still feel that your retirement savings goal is out of reach, it may help to focus less on the big picture and more on the details.
If your business paid an independent contractor $600 or more in 2019, you need to file a 1099-MISC by January 31st. Failure to do so can result in a penalty.
While these occasions can be stressful or ecstatic, there are some major tax complications involved.
The term “identity theft protection service” can be misleading. Before you sign up, make sure you understand what service is provided.
We detail a few of the key adjustments for 2020 that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts.
As a business owner, you should carefully consider the advantages of establishing an employer-sponsored retirement plan. Generally, you’re allowed a deduction for contributions you make to an employer-sponsored retirement plan. In return, however, you’re required to include certain employees in the plan, and to give a portion of the contributions you make to those participating…
The SECURE Act represents the most sweeping set of changes to retirement legislation in more than a decade. How will it affect you?
There are five tax filing statuses. Choosing the right one can save you money.
People make financial decisions all the time, and sometimes these decisions don’t pan out as intended. Hindsight is 20/20, of course. Looking back, would you change anything?
No matter how big or small your business, you must plan for accidents and other risks if you want your business to thrive. We explain how insurance can help.
Would you take on a 30-day challenge to spend money only on necessities such as rent, utilities, and groceries? During a no-spend month, many common activities—including dining out, buying movie or concert tickets, and shopping for clothes—are avoided at all costs.
Curious about this hot retirement trend? While it can lead to an early retirement, it does require careful planning, savvy saving and investing habits, and potentially big sacrifices.
Raising kids is hard enough, so why not make things easier for yourself when it comes to saving for college?
You need to be careful, as scammers out there are pretending to be legitimate charities looking to take advantage of your generosity for their gain.
Beginning in January 2020, employers can offer two new types of HRAs — an Individual Coverage HRA and an Excepted Benefit HRA.
One minute, you’re minding your own business and aren’t even thinking about that return you filed months ago. The next minute you open your mailbox and see something called a “Notice of Deficiency”—and your anxiety immediately goes through the roof.
The IRS recently issued letters to more than 10,000 taxpayers whom they suspect have not been properly reporting their virtual currency transactions.
Losing a loved one can be difficult. Despite the emotional trauma involved, you may also be responsible for handling things you have not done before. We walk you through a list of financial, legal, and administrative tasks to consider.
If you want to help your business succeed, taking the time and effort to make your website user-friendly for everyone may help you connect with potential customers and elevate your brand.
Unfortunately, the “vision” for cybersecurity is anything but 20/20. The crooks continue to get more sophisticated with additional tools like “deepfakes” that will add a new dimension to what is possible. No amount of legislation nor penalties are going to protect us—the consumer.
When was the last time you or your attorney reviewed or updated your will or trust? If it was before the passage of the Tax Cuts and Jobs Act, your documents may be out of date.
While all the holiday gifts you give will cost you money, some might also yield a tax benefit.
If you are 70½ or older and must begin taking annual required minimum distributions, you can use a qualified charitable distribution (QCD) to donate from your IRA and get a tax break, whether you itemize or not.
The number-one threat to your business isn’t an external factor at all. It’s the people you’ve cofounded that business with.
Often, identity theft and refund fraud victims may be unaware that their identity has been used fraudulently. Should you consider getting an Identity Protection PIN?
According to the Social Security Administration, 10,000 baby boomers a day are reaching the age of 65. As such, many people are senior-proofing their homes for either themselves or an older family member. If you are planning these home improvements, read this first to find out what costs might be tax-deductible.
Each year, the College Board releases its annual Trends in College Pricing report that highlights current college costs and trends. While costs can vary significantly depending on the region and college, the College Board publishes average cost figures, which are based on a survey of nearly 4,000 colleges across the country. Following are cost highlights…
If your employer offers one of these benefits, you should seriously consider taking advantage of it, if you haven’t already.
Frank bought life insurance. Dave did not. Let’s take a look at how their families fared after their death.
For the third year in a row, Henssler Financial spent the month of October collecting food items and money for the Center for Family Resources’ Thanks for Giving food drive.
As a small business owner, proper tax planning will ensure you take advantage of every tax credit you qualify for. We outline five essential small business tax credits.
A tax deduction generally reduces taxable income, whereas a tax credit reduces the tax itself. So, which is better?
Are you self-employed? Did you move? Do you earn income in a state other than the one you live? If you answered yes, you might have one of these common personal income tax issues.
We offer six tips to help minimize your loss and maximize your gains when investing in this week’s Financial Tip.
Starting a business? Know what qualifies as a capital expenditure and a start-up cost, and which ones can be deducted.
Henssler Financial hosted a “Marathon Month” as the firm’s third quarter fitness contest for employees, encouraging staff to stay active and included a charitable aspect to stay motivated.
A commonly encountered but often misunderstood issue is who claims the child or children for tax purposes. Read this before you make a serious mistake.
The late-2017 tax-reform package changed the rules for personal casualty losses, which now are only deductible if they occur in a federally declared disaster area. As a result, if a home is destroyed in a forest fire or other disaster within a declared disaster zone, the homeowner can claim a casualty loss on that year’s…
If you haven’t given your retirement plan a thorough review within the last 12 months, now may be a good time to do so.
All self-employed taxpayers who have more than $400 in net profit from their self-employment must pay self-employment tax.
There’s more than one way to pay off your student loans. We explore the various repayment options in this Question of the Week.
2020 will be here before you know it. Make sure you make time to assess your tax situation. We list 10 tax moves to consider between now and the end of the year.
In a 2019 Gallup poll, 25% of Americans age 50 to 64, and 23% of those age 65 and older, said health care costs were their top financial concern. Should you consider an HSA?
Whether you’re a serial entrepreneur or simply looking to grow your small business to a sustainable level then reassess your goals, it’s crucial to understand your venture’s financial results.
As tech terms go, this is one of the few that is a simple portmanteau, a combination of Malware and Advertising.
Gene Henssler, Ph.D., Principal and Director of Henssler Financial, was honored with the Founders & Directors Award for 2019 at the Georgia Radio Hall of Fame. The special award is given to Georgia radio professionals who have excelled but may not have received the recognition they deserve.
Learn tips to help you make sure your spending remains in check this holiday season.
f you are like most investors, you occasionally will pick a loser that declines in value. Sometimes, a security can even become worthless when the issuing company goes out of business. Can you write off a worthless stock?
A recent survey found that more than half of retirees have retirement planning regrets. Unfortunately, many of these retirees had to cut back on their lifestyles to compensate for financial shortfalls.1 Considering their most common regrets may help you avoid making the same mistakes. Not Saving Enough More than one-third of retirees wish they had…
Growing your business to the point that you need to hire employees is exciting. It’s also rife with admin burdens that you don’t want to be unprepared for.
While it may be a difficult conversation, it’s important to talk with your elderly parents about their finances, in case you find yourself making critical decisions on their behalf in a moment of crisis.
Throughout your life there will be certain significant occasions that will impact not only your day-to-day living but also your taxes.
If you’re retired or close to retiring, then you’ve probably got nothing to worry about — your Social Security benefits will likely be paid to you in the amount you’ve planned on (at least that’s what most of the politicians say). But what about the rest of us? The Media Onslaught Watching the news, listening…
Managing your business’s cash flow is about having access to what you need to put your best foot forward today AND to better prepare yourself for challenges that may develop in the future.
Was your 2018 federal tax refund less than normal, or—worse yet—did you owe tax despite usually getting a refund? We explain why it might be time for a payroll tax checkup.
U.S. citizens and resident aliens are taxed on their worldwide income, whether they live inside or outside of the U.S. However, qualifying U.S. citizens and resident aliens who live and work abroad may be able to exclude from their income all or part of their foreign salary or wages, or amounts received as compensation for…
Honored for their outstanding service, five financial professionals from Henssler Financial were named to the 2018 Five Star Wealth Manager list for Atlanta by Five Star Professional. The list of winners published in the October 2019 issue of Atlanta Magazine.
The annual Medicare Open Enrollment Period is a good time to review your current Medicare plan. What worked for you last year may not work for you this year.
Children who are dependents of their parents are subject to what is commonly referred to as the kiddie tax. This generally applies to children under the age of 19 and full-time students over the age of 18 and under the age of 24. The kiddie tax originated many years ago to close a tax loophole…
Large-scale data breaches seem to be in the news frequently. Breaches have become more common—a byproduct of living in an increasingly digital world. During the first six months of 2019, the Identity Theft Resource Center (ITRC), a nonprofit organization whose mission includes broadening public awareness of data breaches and identity theft, had already tracked 713…
If you are buying a new car, are you wondering what to do with the old one? You have several options, some of which have tax implications and some of which don’t. These options include trading the car in with the dealer, selling it to a third party, donating it to a charity, gifting it…
If you can contribute to both a 401(k) and HSA, determining how much to contribute to each type of plan will require some careful thought and strategic planning.
As you move through different stages of life, you will face new and unique financial situations. Did you just get engaged? Perhaps you are wondering how you and your partner are going to manage your money together. Do you have children? Maybe you are looking for ways to pay for their college education. When you…
When you sell property you will have a gain or a loss based on your basis. Failure to document may cost you. Read all about it in this week’s Tax Tip.
As a result of working fewer years, women are more likely to save less, leaving many to rely on their husbands’ savings and benefits to carry them both through retirement. If you’re relying on your husband’s savings to carry you through retirement, read this!
There is no single best form of ownership for a business because certain limitations can often be compensated for. We walk you through the various options in this week’s Business Tip.
Whether you have a high school senior or a returning college student, it’s a good idea to file the FAFSA as early as possible to increase your child’s chances of getting financial aid. We explain in this Question of the Week.
A married couple can choose to file jointly or separately. Both statuses can result in surprises – some pleasant and some unpleasant. We explain in this Tax Tip.
If you are concerned about the high costs of long-term care but don’t want to purchase traditional long-term care (LTC) insurance, consider combining permanent life insurance coverage with long-term care benefits. We explain in this Insurance Tip.
If you’re a small business owner, you may qualify for a home-office deduction. We explain the qualifications and two methods in this week’s Business Tip.
Virtually any loan interest will qualify for the student loan interested deduction if the loan proceeds are used solely for qualified higher-education expense. We explain in this Question of the Week.
The IRS is so focused on cryptocurrency that it issued warning letters to more than 10,000 taxpayers that it suspects might have an under-reporting problem. We explain in this week’s Tax Tip.
September is Life Insurance Awareness Month, a good time to evaluate your life insurance needs and review your life insurance coverage. We explain why you need life insurance in this week’s Financial Tip.
If you are a few years from selling your business, we explain how profitability can impact the value. Learn more in this week’s Business Tip.
While you may face a lot of financial challenges starting out – college loans, saving for a home, starting a family, saving for retirement – don’t discount the importance of life insurance. We explain in this Question of the Week.
Your 2018 tax return has either been filed or extended. Now it’s time to look at the changes that will impact your 2019 return when you file it in 2020. Read more in this week’s Tax Tip.
If you are new to investing in real estate, there are several questions you should ask yourself to choose the best real estate investments for your needs. We list five in this week’s Financial Tip.
What distinguishes a business from a hobby? We explain the IRS’ nine factors to consider when making that judgement in this week’s Business Tip.
Depending on how much time and energy you put into a side hustle, you could earn a significant supplemental income. We explain the pros and cons in this Question of the Week.
If you would like to make a substantial tax-deductible charitable donation this year, but have the ability to spread the actual distribution of funds to specific charities over a number of years, a donor-advised fund (DAF) may fill that need. We explain in this week’s Tax Tip.
A recent survey revealed that 42% of Americans have less than $10,000 saved for retirement. If you’re worried about not saving enough, read this week’s Financial Tip.
Determining the tax deduction for a foreign business trip of a self-employed individual that is combined with a vacation can be complicated. We offer pointers in this week’s Business Tip.
You’re covered on your roommate’s Amazon Prime account. Are your belongings covered under their renters insurance policy? Find out in this Question of the Week.
If you haven’t started investing towards a long-term goal because you’re worried about short-term market volatility, consider using this popular investment strategy. Read all about dollar cost averaging in this week’s Financial Tip.
According to a recent study conducted by U.S. Bank, more than 80% of all newly formed businesses that ultimately fail do so due to cash flow problems. If you needed a reason to believe that getting your spending in order and dedicating the time to drafting a proper budget for your new startup is important,…
If you were unpleasantly surprised by the amount of tax you owed or the amount of your tax refund when you filed your 2018 tax return, it may be time to check your withholding. It may also be time if there are changes in your life or financial situation that affect your tax liability. For…
Going from two stable income streams to one can prove challenging, but it is a necessary step if you, or your spouse, want to stay home with your kids, go back to school or even start your own business. To avoid ending up in a pinch when the big day comes, planning for the transition…
We believe estate planning is a key component of a comprehensive financial plan. In today’s Financial Tip we walk you through key estate planning documents you should have in place.
A secular trust can provide assurance that your nonqualified deferred compensation plan benefits will not be at risk. We explain in this week’s Business Tip.
Did you charge up a storm getting ready for the new school year? Before too much interest accrues on your balances, put a strategy in place to pay off your debt. We offer options in this Question of the Week.
April 15th may be long gone, but the IRS is still sending out audit letters. We explain what you need to do if you receive one in this week’s Tax Tip.
If you’re the parent or grandparent of a current or prospective college student, you might be interested to learn what’s new in the world of higher education. We walk you through the highlights in this week’s Financial Tip.
Equifax reached a settlement agreement in the class-action suit from the 2017 data breach. If you are eligible, you can file online, taking approximately two minutes to submit your claim. You can choose to receive free credit monitoring or a cash payment (up to $125, but more if you incurred expenses in dealing with problems associated with the breach, up to $20k).
Starting a small business can be one of the most exciting and rewarding events in your life. But it can also be extremely stressful. We list 10 questions to ask yourself before you take the leap in this week’s Business Tip.
If you are in the market for a new car, you may be contemplating buying or leasing. How do you determine which option is right for you? We list four questions to ask yourself in this Question of the Week.
Private family foundations are typically founded by high net worth individuals and families who want to maintain a high degree of control over their charitable legacies, and are willing to assume significant costs and responsibilities, and adhere to strict rules and requirements. Learn more about them in this week’s Financial Tip.
Excess benefit plans allow employees who participate in a qualified plan to exceed the contribution limitations. Learn how in this Business Tip.
Socially responsible investing may allow you to further both your own economic interests and a greater good, in whatever way you define that term. We explain in this Question of the Week.
So many life events provide tax-planning opportunities. See if you need tax help in this week’s Tax Tip.
Comparing similar life insurance policies? Consider trying the cost index method and the surrender cost index method. Read all about it in this week’s Financial Tip.
Receiving money from a C corporation? The method used to make the distribution determines your tax consequences. Learn more in this Business Tip.
If you’re saving for any long-term goal, inflation can have an impact. We explain how inflation affects you in this Question of the Week.
Have deferred compensation? Do you know when it is subject to income tax? Find out in this week’s Tax Tip.
The income replacement approach assumes the goal of life insurance is to replace the lost earnings of a breadwinner. Read more in this week’s Financial Tip.
Although an S Corporation has many advantages, shareholders may wish to convert the corporation into a C corporation in certain situations. We explain what they are in this week’s Business Tip.
There are tax credits available to help parents pay for child care, but there’s a catch! We explain in this Question of the Week.
Your tax consequences for selling an interest in a business depend on the type of business entity. Read more in this Business Tip.
Federal employees are generally covered under one of two retirement systems. Read all about them in this Financial Tip.
So, how does one determine if a link or file is safe? You can ask yourself if you know who sent it to you and if you were expecting it. Or you can take the time to use some online tools to scan the link or file.
A top-hat plan is unfunded and only provides benefits to a select group of management or highly compensated employees. Learn more in this Business Tip.
Want to get out of credit card debt? Stand on your own financially? Retire early? We outline steps to declare your financial independence in this Question of the Week.
Like many investment products, tax-deferred fixed annuities have both advantages and disadvantages. We explain in this week’s Tax Tip.
Whatever your goal, you’ll need a retirement plan that’s designed to support the lifestyle that you envision. Read more in this Financial Tip.
The data in your QuickBooks company file contains some of the most sensitive information on your computer. Learn what you need to do to make sure it’s secure in this Quickbooks Tip.
If you received a federal tax benefit from deducting state and local taxes as an itemized deduction in a prior taxable year and you recover all or a portion of those taxes in the current taxable year, you may need to include a portion of the recovery in gross income. We explain in this week’s Tax Tip.
For the first time in three years, interest rates on federal student loans will decrease for the 2019-2020 academic year. What are the new rates? Find out in this week’s Financial Tip.
Generally the incorporation of a business is tax free to both the shareholders and the corporation…that is until “boot” is involved. We explain in this week’s Business Tip.
Starting a new job? You’ll need to show your Social Security card. Lost your Social Security card? You’ll need a replacement. We explain what to do in this Question of the Week.
We give a rundown of the most prominent tax benefits for members of the military in this week’s Tax Tip.
According to the 29th annual Retirement Confidence Survey, having one of these will make you twice as likely to feel somewhat confident about retirement. Find out what it is in this week’s Financial Tip.
Corporations should monitor their earnings and the types of income to detect potential exposure to the PHC tax. Read more in this Business Tip.
Follow these money-saving tips when planning your next vacation to help make it more affordable. 1. Join a Frequent Flyer Program It will probably take time to accumulate frequent flyer points, but the perks can be worth it. Depending on the program, rewards can include cheaper fares, upgrades, free companion tickets, and more. 2. Be…
The tax code places limits on the amounts that individuals can gift to others without paying taxes. We explain in this week’s Tax Tip.
The capital retention approach to life insurance helps preserve capital for heirs when the surviving spouse dies. Read more in this Insurance Tip.
The incidence of spear phishing continues to increase. At Henssler, even though our in-bound email is filtered through two different third-party services, well-crafted spear phishing attempts can still make it through.
In an IFEBP survey, 96% of employers said employees’ personal financial issues had an impact on their overall job performance. We list three things to consider before adding a financial wellness program to your benefits package in this week’s Business Tip.
If you are one of the 16.5 million people who rely on contingent or alternative work arrangements, you need to pay close attention to your finances in order to make up for any gaps in earnings that may occur between jobs. We explain in this Question of the Week.
If you’re about to apply the KonMari method to your tax paperwork – READ THIS FIRST! While it may not spark joy, you need to keep some tax paperwork in case of an audit. We explain in this week’s Tax Tip.
As of January 2019, there were 2,007 exchange-traded funds (ETFs) listed in the United States, with about $3.6 trillion in total assets. Assets held in ETFs have more than tripled since 2010, while the number of ETFs has more than doubled.1 An ETF is a portfolio of securities assembled by an investment company, similar to…
We review the most frequently encountered fringe benefits, including those that were and were not impacted by tax changes, in this week’s Business Tip.
Though you may not have given much thought to your financial future when you were in college, you have new financial challenges and goals to consider. We guide you through some in this Question of the Week.
Although tax reform did not eliminate the AMT, it did mute that tax considerably by increasing the AMT exemptions and by substantially raising the exemption-phaseout threshold. We explain how this affects you in this week’s Tax Tip.
If you’re saving for college, retirement, or a large purchase, it can be useful to quickly calculate how an anticipated annual rate of return will affect your money over time. We explain the Rule of 72 in this week’s Financial Tip.
There are both opportunities and pitfalls for IRA owners, and while you definitely don’t want to get caught up in a pitfall, you may want to take advantage of the opportunities. We explain in this week’s Tax Tip.
When you calculate the real return on your investments, it’s important to take two important factors into consideration – taxes and inflation. We explain in this Question of the Week.
Whether the markets are up or down, reviewing your portfolio with a financial professional midway through the year can be an excellent way to keep your investments on track. Read more in this Financial Tip.
We explain insurance benefits small businesses typically offer their employees in this week’s Business Tip.
If you’ve just discovered a BIG mistake on your tax return this year, we explain the steps to take to correct the situation QUICKLY in this week’s Tax Tip.
Investments in QOFs provide unique tax incentives that lawmakers designed to encourage taxpayers to participate in these funds. Learn more in this week’s Tax Tip.
In order to have sufficient income to last you for your entire retirement you first need to determine your retirement income needs. We explain in this week’s Financial Tip.
In order to make the best decisions possible for your company, you need to have complete and accurate information. We explain what to look at to determine your small business’s profitability in this week’s Business Tip.
There is no magic formula to determine how much you or your child should borrow for college. But there is such a thing as borrowing too much. We explain in this Question of the Week.
If you owed a large amount of money for your 2018 taxes, bumping up your withholding now could help avoid a similar fate next April. We explain in this week’s Tax Tip.
What does the future hold for Social Security and Medicare? In this week’s Financial Tip, we list highlights from the lengthy reports the Trustees of the Social Security and Medicare Trust Funds submit to Congress.
How you record a customer payment in QuickBooks depends on why and how you received it. We explain in this QuickBook’s Tip.
By: Tim O’Pry | Chief Security Officer Some may believe that if they restrict their personal use of the Internet they can limit what information about them can be stolen. After all, if we don’t post anything on social media or order anything online, we have nothing to worry about, right? While this might seem…
If you follow financial news, you’ve probably heard many references to “the Fed” along the lines of “the Fed held interest rates,” or “market watchers are wondering what the Fed will do next.” So what exactly is the Fed and what does it do? We explain in our Question of the Week.
If you’ve received notification that the government is about to file a tax lien or tax levy against you, you might have some questions. We explain the differences in this week’s Tax Tip.
Getting close to retiring, but not sure your income will meet your needs? Read tips on how to close your income gap in this week’s Financial Tip.
In this week’s Business Tip, we explain three things small businesses owners can do to start the 2019 tax year off on the right foot.
If you are due a tax refund, you can check the status online. We explain in this Question of the week.
Individuals and small businesses should consider various ways of starting off on the right foot for the 2019 tax year. We give you a list to follow in this week’s Tax Tip.
A financial crisis can be scary at any age, but this is especially true when you’re in your 40s or 50s. Regardless of how you got to this point, it’s important to develop a strategy that will help you re-establish financial stability. We explain in this week’s Financial Tip.
Does your business need a vCFO? Find out in this week’s Business Tip.
Are you going to start paying higher education costs? You might qualify for a tax credit. Find out in this week’s Tax Tip.
Henssler Associate Michael Griffin, CFP®, answers our “Money Talks” question of the week, “Can I refinance my student loans?”
If you have a child or grandchild, you may want to consider opening a 529 Plan for future education costs. We explain the rules in this week’s Financial Tip.
Does your morning commute and cubicle have you contemplating self-employment? We list out some pros and cons of being your own boss in this week’s Business Tip.
According to Student Loan Hero, Americans owe more than $1.56 trillion in student loan debt. If you’re having trouble paying your student loans, we explain what to do in this Question of the Week.
If your tax refund is less than you anticipated, you are not alone. We explained what probably happened in this week’s Tax Tip.
How does your plan compare to the most recent survey results from the Plan Sponsor Council of America? Find out in this week’s Financial Tip.
Tax reform has brought about significant changes in the way that vehicle use is deducted for business purposes. Read more in this week’s Business Tip.
Repaying student loans is an important financial obligation. But doing so can take many years of dedication and sacrifice. We walk you through some options in this Question of the Week.
The federal income tax filing deadline for most individuals is Monday, April 15, 2019. We go over highlights in this week’s Tax Tip.
The FOMC has raised the funds rate nine times since December 2015, with four increases in 2018 alone. March projections suggest that there may be no rate increases in 2019 at all. We explain in this week’s Financial Tip.
If you use independent contractors for your business or rental, for each individual whom you pay $600 or more for the year, you are required to issue a Form 1099-MISC to avoid losing the deduction for their labor and expenses. We explain in this week’s Business Tip.
You thought you were getting a refund and SURPRISE…You Owe! If you owe the IRS, but can’t pay the bill, we explain your options in this Question of the Week.
The government shutdown earlier this year doesn’t mean your chances of getting audited are lower. Read this week’s Tax Tip to learn about some common IRS audit red flags.
Did you know that Social Security may pay benefits to your eligible family members when you die, helping to make their financial life easier? Take the quiz in this week’s Financial Tip to learn more.
By: Tim O’Pry | Chief Security Officer Another day, another few hundred million accounts compromised. Facebook is the most recent (as of late March 2019). This problem has become so common place that it hardly qualifies as news. What is different about this one is that it wasn’t criminals who broke into Facebook and obtained the data.
You thought you were getting a refund and SURPRISE…You Owe! If you owe the IRS, but can’t pay the bill, we explain your options in this Question of the Week.
Whether you are filing taxes on your own or hiring a tax preparer, you’ll want to make sure you have all of your information organized to make the process of filing your taxes easier. We explain in this Question of the Week.
As part of the recent tax reform, the Tax Cuts and Jobs Act of 2017, the deduction for home mortgage interest and property taxes has undergone substantial alterations. These changes will impact most homeowners who itemize their deductions each year. We explain in this week’s Tax Tip.
With the cost of college continuing to increase year after year, for many families, financial aid can be the deciding factor in whether a child attends the college of his or her choice. We explain how you can compare financial aid packages in this week’s Financial Tip.
Before you start putting together an investment portfolio, you should consider a few of these well-recognized guidelines. We explain in this Question of the Week.
MARCH 2019. KENNESAW, Ga.— Henssler Financial is proud to announce that Managing Associate K.C. Smith, CFP®, and Research Analyst Nick Antonucci, CVA, have earned the Certified Exit Planning Advisor (CEPA) designation after completing The Exit Planning Institute’s intensive four-day executive MBA-style program. Smith and Antonucci join an elite group of business advisers who have received this designation and are a part of the Exit Planning Institute’s international community of CEPAs.
To ensure that you get through tax season without unnecessary costs and aggravation, read this week’s Tax Tip for a list of penalties the IRS most frequently assesses against taxpayers.
Before you purchase an investment property or rent out your own home, make sure you understand what’s involved. We explain in this week’s Financial Tip.
Financial ratios are used to measure a business’s condition and performance. They can help you evaluate your organization’s financial status and rate of success. They are also used by those evaluating your business for potential investment or lending opportunities. Generally speaking, there are four categories of financial ratios: liquidity, profitability, activity, and leverage. Your balance…
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how a qualified charitable distribution can provide a significant savings over giving to charity after tax, as charitable deductions are “below the line” deductions. Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a…
A DRIP automatically reinvests your shareholder dividends in more shares of the same company’s stock. When you are due a dividend, you are issued more shares of stock instead of a cash dividend payment. In some cases, the issuing company will cover the broker’s fees and may even provide the additional shares at a discounted…
Ever since tax reform was passed, over a year ago, taxpayers have been uncertain whether rental property will be classified as a trade or business for purposes of qualifying for the new IRC Sec 199A 20% pass-through deduction (commonly referred to as the 199A deduction). Finally, on January 18, 2019, the IRS issued a notice…
Investors who own shares of common stock have the right to vote in elections on certain corporate matters. Election outcomes can help determine the company’s short- and long-term profitability, and ultimately the stock price. The spring proxy season (generally April through June) is when many publicly traded corporations hold annual shareholder meetings. A smaller number…
You’ve worked your whole life building a business and the time has finally come: the time where you feel ready to enjoy the fruits of your labor and retire. But what happens to your business now? Do you want to pass it down to your children? Maybe you don’t have children. How can you exit…
To answer this question, you must decide how your money can work best for you. First, we always recommend you have an adequate emergency fund—this is money you put aside to cover your expenses in case you find yourself without an income stream (i.e., a job, scholarship) or to cover an unexpected large expense (i.e., car…
If you haven’t done so already, you’ll want to start pulling things together— that includes getting your hands on a copy of your 2017 tax return and gathering W-2s, 1099s, and deduction records. You’ll need these records whether you’re preparing your own return or paying someone else to prepare your tax return for you. Don’t…
You have until your tax return due date (not including extensions) to contribute up to $5,500 for 2018 ($6,500 if you were age 50 or older on December 31, 2018). For most taxpayers, the contribution deadline for 2018 is April 15, 2019 (April 17 for taxpayers who live in Maine or Massachusetts) You can contribute…
Many of the changes can affect the bottom line for the business as well as you as the business owner — some in a good way and some in a bad way. 1. The taxable income of a C corporation is now taxed at a flat 21% rate. Previously, the tax rates generally ranged from 15%…
There’s no way to know the answer to that without reviewing your individual circumstances and financial goals. However, if you are investing too conservatively, it can have a profound effect on your long-term financial security. How you should be investing depends on many factors, such as: How able are you to tolerate risk? How soon…
Welcome to 2019 and a delayed provision of the tax reform, also known as the Tax Cuts and Jobs Act (TCJA). For divorce agreements entered into after December 31, 2018, or pre-existing agreements that are modified after that date to expressly provide that alimony received is not included in the recipient’s income, alimony will no…
Money can be a sensitive subject to discuss, but you’ll need to talk to your parents about it in order to get to the root of their problems and come up with a solution. Before you start the conversation, consider the following four scenarios as signs that your parents might be experiencing financial challenges, and…
QuickBooks Online’s mobile app, available at the Apple App Store and Google Play, can do many of the same tasks that it performs on your office desktop. You can, for example: Check account balances. Add and edit estimates, invoices, and sales receipts. Add and edit customers, vendors, products, and services. Record invoice payments. One of…
Yes! Unless you absolutely cannot afford to set aside any dollars whatsoever, you should contribute to your employer’s 401(k) plan. A 401(k) plan is one of the most powerful tools you can use to save for your retirement. The first benefit is that your pre-tax contributions to a 401(k) plan are not taxed as current…
Tax time is just around the corner, and if you are like most taxpayers, you are finding yourself with the ominous chore of pulling together the records for your tax appointment. The difficultly of this task depends upon how well you maintained your tax records throughout the year. No matter how good your record keeping…
When saving for retirement, you’re probably aware of the benefits of using tax-preferred accounts such as 401(k)s and IRAs. But you may not be aware of another type of tax-preferred account that may prove very useful, not only during your working years but also in retirement: the health savings account (HSA). HSA in a Nutshell…
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that tax “audit triggers” are just actions that occur in your everyday life and in the course of doing business. Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation to buy.…
By: Tim O’Pry | Chief Security Officer With the advent of the Internet of Things (internet connected devices), the average consumer is likely to have multiple devices in their home, office, or on their person that is capable of surreptitious surveillance and not be aware of it. One of the more high profile examples of…
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that for business owners, exiting a small business is a complicated process and one that should be planned for years in advance, not just in the short time leading up to retirement. Read the Article This article is for demonstrative and academic purposes and is meant to…
Entrepreneurs often shrug off the idea of obtaining an employer identification number, or EIN, believing that their small business really doesn’t need one. Though there are some cases where a solo business can get away with merely utilizing the business owner’s Social Security Number, doing so is not necessarily the best idea, even if you…
You may be able to deduct up to $2,500 each year from your gross income if you’ve paid interest on a qualified education loan for qualified higher education expenses during the year. To be eligible for the deduction, your modified adjusted gross income (MAGI) must fall below a threshold figure. For 2019, the deduction begins…
Gambling takes many forms: casino games, horse racing, sports book betting, lotto tickets, scratchers, bingo, etc. For virtually everyone, gambling is a recreational activity and, as such, is done for fun. For most gamblers, their losses for the year will exceed their winnings, and since losses in excess of winnings are not deductible, most gamblers…
As a retirement savings plan participant, you know that setting an accumulation goal is an important part of your overall strategy. In fact, over decades of conducting its annual Retirement Confidence Survey, the Employee Benefit Research Institute (EBRI) has found that goal setting is a key factor influencing overall retirement confidence. But for many, a…
By: Tim O’Pry, Chief Security Officer While the primary focus of these articles to date has been on cybersecurity, there is another aspect of protecting your information that is of equal importance: the regular and secure back up of your digital data (files, photos, etc.). While hacking gets the majority of the headlines, the average…
Vehicle expenses can take a big bite out of your budget. According to an AAA report, the average annual total cost of owning and operating a new vehicle in 2018 was $8,849. Fortunately, you may be able to save money by reducing three costs. Depreciation The loss of a vehicle’s value over time was the…
Generally, when financial advisors or the media talk about investment risk, their focus is on the historical price volatility of the asset or investment under discussion. Advisors label as aggressive or risky an investment that has been prone to wild price gyrations in the past. The presumed uncertainty and unpredictability of this investment’s future performance…
If you’re a small business owner, you want your organization to do far more than survive: you want it to thrive! Unfortunately, to make sure that customers are happy and the lights stay on there are a lot of details that need attention, and some end up being overlooked. The intricacies of accounting are neither…
1. Revolving Credit Can Make It Hard for You to Pay off Debt Credit cards allow you to spend money you don’t currently have, and to repay what you’ve spent over time instead of all at once. When you use a card, the balance you owe increases, and your remaining available credit decreases. As you…
While tax scams are especially prevalent during tax season, they can take place any time during the year. As a result, it’s in your best interest to always be vigilant so you don’t end up becoming the victim of a fraudulent tax scheme. Here are some of the more common scams to watch out for.…
Almost 100 million Americans, representing about 44% of U.S. households, owned mutual funds in 2018. Saving for retirement was the primary goal for 73% of investors; other goals included saving for college or a house, building an emergency fund, or providing current income.* Mutual funds offer a convenient way to participate in a broad range…
Debt consolidation can lead to an improvement in your credit rating by making your debt easier to manage. Sometimes, debt consolidation means taking a loan at a lower interest rate to pay off several smaller loans at higher interest rates. Making one payment instead of many may help you keep your debt under better control,…
Individuals with large estates generally want to gift portions of their estate to beneficiaries while they are still living, to avoid or lessen the estate tax when they pass away. That can be done through annual gifts (up to the inflation-adjusted annual limit for each gift recipient each year—$15,000 for 2019) and/or by utilizing the…
There’s no doubt about it—going through a divorce can be an emotionally trying time. Ironing out a divorce settlement, attending various court hearings, and dealing with competing attorneys can all weigh heavily on the parties involved. In addition to the emotional impact a divorce can have, it’s important to be aware of how your financial…
Is your debt-to-income ratio out of control? In today’s Marietta Daily Journal Bil Lako, CFP®, explains where you want to be and provides tips on how to lower that ratio. Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation to…
Medicare Part B Premiums According to the Centers for Medicare & Medicaid Services (CMS), most people with Medicare who receive Social Security benefits will pay the standard monthly Part B premium of $135.50 in 2019. However, if your premiums are deducted from your Social Security benefits, and the increase in your benefit payments for 2019…
In today’s digital world, massive computer hacks and data breaches are common occurrences. And chances are, your personal or financial information is now susceptible to being used for credit fraud or identity theft. If you discover that you are the victim of either of these crimes, you should consider placing a credit freeze or fraud…
Tax reform eliminated the deduction for casualty losses but did retain a deduction for losses within a disaster area. With the wild fires in the west, hurricanes and flooding in the southeast and eastern seaboard we have had a number of presidentially declared disaster areas this year. If you were an unlucky victim and suffered…
1. Pausing Your Career to Care for Children First, women frequently step out of the workforce in their 20s, 30s, or 40s to care for children—a time when their job might just be kicking into high (or higher) gear. It’s a noble cause, of course. But consider this: A long break from the workforce can…
As it does annually around the end of the year, the IRS has announced the 2019 optional standard mileage rates. Thus, beginning on Jan. 1, 2019, the standard mileage rates for the use of a car (or a van, pickup or panel truck) are: 58 cents per mile for business miles driven (including a 26-cent-per-mile…
You are entitled to a free copy of your credit report every 12 months from each of the three nationwide credit reporting agencies: Experian, TransUnion, and Equifax. You are also entitled to a free report if: A company has taken adverse action against you, such as denying you credit, insurance, or employment (you must request a copy within…
The IRS recently announced that the tax credit for purchasing the popular Tesla is being phased out and that the credit will drop to $3,750 after December 31, 2018, and will drop again to $1,875 after June 30, 2019. Then, the credit will no longer be available for a Tesla after December 31, 2019. But…
Consider these four tips to help make the financial impact of the transition easier. 1. Do Your Homework Before you quit your current job, make sure that you clearly understand the steps involved in a career move, including the financial and personal consequences. How long will it take you to transition from one career to…
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that when small-business owners want to retire, it is not quite as easy as letting your boss know you will be leaving at the end of July. Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on…
By now, many New Year’s resolutions have already been made—and broken. Though they’re usually created with the best of intentions, they’re often just too ambitious to be realistic. For example, you might decide to learn more about QuickBooks Online and keep up with your accounting chores more conscientiously in 2019. That’s hard to quantify. How…
If you are a first-time homebuyer and don’t have a lot of money for a down payment on a home, you may want to consider obtaining a mortgage through a government mortgage lending program such as those offered through the Federal Housing Administration (FHA) and the Department of Veterans Affairs, formerly known as the Veterans…
It’s almost impossible to overstate the importance of taking the time to plan your estate. Nevertheless, it’s surprising how many American adults haven’t done so. You might think that those who are rich and famous would be way ahead of the curve when it comes to planning their estates properly, considering the resources and lawyers…
The probability of needing long-term care is growing. According to the U.S. Department of Health and Human Services, Americans turning age 65 today have nearly a 70% chance of needing some type of long-term care services in their remaining years.¹ There are many reasons why you may need long-term care, but one of the growing…
A Lease is a Legally Binding Contract Simply put, yes. You can get out of a car lease, but it won’t be cheap. A lease is a contract, which means it’s a legally binding agreement. Some contracts contain loopholes or escape clauses. However, leasing companies pay attorneys big money for these carefully drafted, loophole-free agreements.…
You probably feel comfortable talking to your teen about things like school, sports, and clothing. But how do you feel about talking about money? While it may be a tricky topic to broach, odds are that your teenager will rely on you to learn basic financial management skills. And the teenage years can be a…
Did you take on a large amount of debt to pay for college, and are you struggling to pay it off? If so, you are not alone. According to the Federal Reserve, 20% of individuals with outstanding student loans were behind on their payments in 2017.1 You may want to consider requesting a deferment or…
The tax benefits associated with charitable giving could potentially enhance your ability to give and should be considered as part of your year-end tax planning. Tax Deduction for Charitable Gifts If you itemize deductions on your federal income tax return, you can generally deduct your gifts to qualified charities. This may also help you potentially…
If you’re a small-business owner, you probably pour your heart, soul, and nearly all your money into your business. When it comes to retirement planning, do you cross your fingers and hope your business will provide the nest egg you’ll need to live comfortably? What if you become ill and have to sell your business…
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that if you own stocks or mutual funds, there are some moves at year-end that might help your financial situation. Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation to buy.…
Yes, you can borrow money from your wholly owned business. Generally speaking, the terms of the loan must be reasonable and must be properly documented. Otherwise, you run the risk that the IRS could reclassify the proceeds of the loan as compensation or dividends, leaving you with an unanticipated tax bill. Troubles may arise if…
When you apply for an auto insurance policy, don’t be surprised to find questions about your credit on the insurance company’s application. In addition to the other information you provide, the company may use your credit information as part of its applicant-screening process. But are insurance companies being too nosy and intrusive when they request…
There is no straightforward answer because some deductions are above the line, others must be itemized, some must exceed a threshold amount before being deductible, and certain ones are not deductible for alternative minimum tax purposes, while business deductions can offset both income and self-employment tax. In other words, there are many factors to consider,…
Although most people who marry hope their unions will last forever, about 50% of first marriages in the United States end in divorce.1 Individuals age 50 and older are still less likely to get divorced than those who are younger. Even so, the divorce rate for Americans under age 40 has declined since 1990, while it…
By: Tim O’Pry | Chief Security Officer Over the years (decades), I have been asked for tips on everything from starting a business to the perfunctory cocktail question of, “What do you do?”. Regardless of the question, the answer is the same: I manage failure points. That answer tends to end most casual cocktail conversation…
If you are a business owner who is accustomed to treating clients to sporting events, golf getaways, concerts and the like, you were no doubt saddened by the part of the tax reform that passed last December that did away with the business-related deductions for entertainment, amusement or recreation expenses, beginning in 2018. You can…
Individual crowdsourcing (also known as personal crowdsourcing) refers to a process of raising money for a personal cause or project using an online platform such as GoFundMe. But how exactly does the process work? Here are some answers to common questions about individual crowdsourcing. What causes can be supported via individual crowdsourcing? Individual crowdsourcing can…
Your refund is the amount that your pre-payments (withheld income tax, estimated tax payments, and certain credits) exceed your tax liability, and if the pre-payment also got reduced, you could be in for an unpleasant surprise at tax time. So, why would the pre-payments, particularly withholding, be less? Simply because the current W-4 form on…
December and January are the perfect months to look back at what you earned, saved, and spent, as W-2s, account statements, and other year-end financial summaries roll in. How much have you saved? If you resolved last year to save more or you set a specific financial goal (for example, saving 15% of your income…
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how easy it is for the charitably inclined to establish their own donor-advised fund to increase the impact of their giving. Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation to…
We’re in a bit of a transitional period with business bill-paying. Some paper bills still come via the U.S. Mail, however you may also be getting some through email. Others don’t come at all: You might get a reminder email, but you have to go to the vendor’s site to make a payment. How do…
If you are employed by a government or not-for-profit organization, you may be able to receive loan forgiveness under the Public Service Loan Forgiveness (PSLF) Program. The PSLF, which began in 2007, forgives the remaining balance on federal Direct Loans after you have made 120 monthly payments under a qualifying repayment plan while working full-time…
Receiving notification from the Internal Revenue Service that there’s some kind of problem is one of the most bone-chilling situations an American taxpayer can experience. Just receiving an envelope with a return address from the IRS can strike fear. There are many different reasons that the IRS might reach out, but some are more common…
An estate plan is a map that explains how you want your personal and financial affairs to be handled in the event of your incapacity or death. Due to its importance and because circumstances change over time, you should periodically review your estate plan and update it as needed. When should you review your estate…
Make absolutely no mistake about it: Not only is employee burnout very real, it’s probably costing your business a lot more money than you realize. It’s also not a problem that you’re necessarily going to be able to buy your way out of, either. According to one recent study, a massive 70% of the workforce…
What’s the severance package? Most early retirement offers include a severance package that is based on your annual salary and years of service at the company. For example, your employer might offer you one or two weeks’ salary (or even a month’s salary) for each year of service. Make sure that the severance package will…
In today’s Marietta Daily Journal: How does one account for market return when building a portfolio? Bil Lako, CFP® says ask yourself, “What is your overall tolerance for risk?” and then build the portfolio from there. Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on…
By: Tim O’Pry | Chief Security Officer In an October 2018 speech, Apple CEO Tim Cook spoke on what he believes are the wonders and dangers of technology. A summary of that speech was detailed in this INC online article and the one statement they identified as among the more significant was: “Our own information,…
Unlike a C corporation, which itself pays the tax on its taxable income, an S corporation does not directly pay taxes on its income; instead, its income, losses, deductions, and credits are distributed across its shareholders’ individual tax returns on a pro rata basis. These distributions are not subject to self-employment (Social Security and Medicare)…
Typically, lenders require a down payment of 20% of the home’s purchase price. However, some special mortgage programs allow you to purchase a home with no down payment, such as Veterans Administration (VA) mortgages (if you are a qualified veteran) and no-down-payment or 100% financing mortgage programs. VA mortgage terms are generally favorable when compared…
The most recent data from the IRS on individual tax returns indicates that of 131 million returns filed, about 5 million were expected to be amended. This comes to less than 4 percent, but that projection still affects a significant number of taxpayers. Filing an amended tax return can be a hassle that you definitely…
Review Your Game Plan You haven’t saved enough for retirement…or college. Your credit card debt is spiraling. You’ve been blindsided by unexpected expenses. When your finances hit a rough patch, call a time out and review your game plan. Rethink your strategy to account for changes in your personal life, the economy, or market conditions.…
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that when people care about a cause, they donate regardless of the potential tax benefit. But, people still ask about charitable tax deductions because they want to know how to make the most of their finances. Read the Article This article is for demonstrative and academic purposes…
Very few people think that starting a new business is easy. But at the same time, there are few first-time entrepreneurs who realize just how involved things are from the moment you start trying to bring that idea that previously only existed in your head into the real world. There’s a massive amount of commitment…
Recently, as part of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018, Congress made several changes to credit rules that benefit consumers. Under the new law, consumers are now allowed to “freeze” and “unfreeze” their credit reports free of charge at all three of the major credit reporting bureaus, Equifax, Experian, and…
How long would it take you to determine: What your total expenses for this quarter are? Whether or not your business is profitable as of today? How much you’ve sold every month this year? Which invoices are overdue? If you’re using QuickBooks Online, you can get answers to all those questions—and more—in the time it…
The Affordable Care Act (Obamacare) included a “shared responsibility payment,” which in reality is a penalty for not having health insurance. Along with this penalty came a whole slew of exemptions from the penalty, including some that were designated as “hardship” exemptions. However, the hardship relief from the penalty required pre-approval from the government health…
The biggest names in technology powered stock market gains and bouts of volatility in 2017, and the trend continued into 2018. The S&P Information Technology sector index posted a 13.19% total return from January through July 2018, compared with 6.47% for the broader S&P 500 index.1 Wall Street analysts and the business media often refer…
In today’s Marietta Daily Journal we explain that while getting the employer match is important, that should really be the bare minimum you save. Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this…
In the past, the business use of a vehicle was determined either by using the standard mileage rate for business or using actual expenses plus vehicle depreciation limited by the luxury auto caps. That continues to be the case, except the luxury auto depreciation limit has been substantially increased. In addition, there are other changes…
Ultimately, an employer is offering a good insurance benefit package if it’s one that appeals to you and meets your needs. But here are some specific things you might look for. Perhaps the most important piece is the health insurance offered. You’ll want coverage that adequately meets your medical needs. Hopefully, it will also allow…
This year’s wildfires, record rains, flooding, tornadoes, hurricanes and potential for earthquakes should all act as reminders that you should be prepared for a disaster. Sure, it will take some effort on your part and you may never be affected by a disaster, but if you are, you will sure wish you had been prepared.…
If you’re saving for a child’s college education, at some point you’ll want to familiarize yourself with a college net price calculator, which is an invaluable tool for estimating financial aid and measuring a college’s affordability. Available on every college website, a net price calculator gives families an estimate of how much grant aid a…
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that while a 401(k) is a solid start for retirement, investing doesn’t end there. you may also want to save for other goals, so you still need to understand what you’re doing. Read the Article This article is for demonstrative and academic purposes and is meant to…
Comparatively speaking, of all the different types of life insurance available, term is usually the least expensive. Generally, term life insurance provides protection for a stated or defined period of time, usually from one year to 30 years. If you die during the coverage term, your beneficiary receives the death benefit from the policy. But…
Some years back, it was not uncommon for parents to put their investments in their dependent children’s names to take advantage of their children’s lower tax rates. Although the Uniform Gift to Minors Act legally made a child the owner of money put into his or her name, this didn’t stop parents from routinely putting…
By: Tim O’Pry | Chief Security Officer In our Cybersecurity 101 seminar we discussed the top 3½ things you should do to improve your security online. One of these was to regularly monitor your credit using Credit Karma so you would know if your credit score was changing and more importantly if someone had queried…
In today’s Marietta Daily Journal: Death can be expensive. Bil Lako, CFP®, explains why you need to plan for liquidity in your estate, especially if there are illiquid assets you intend your heirs to keep. Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular…
What is the Medicare Open Enrollment Period? The Medicare Open Enrollment Period is the time during which people with Medicare can make new choices and pick plans that work best for them. Each year, Medicare plan costs and coverage typically change. In addition, your health-care needs may have changed over the past year. The Open…
The most important attribute of a cash reserve is its availability in time of sudden need. And while a federally insured savings account is considered one of the safest places to put money being reserved for emergencies, when interest rates are low, you may want to consider other alternatives. When selecting ways to invest your…
Although Congress has been promising to repeal the alternative minimum tax (AMT), they failed to do that when they passed tax reform in 2017. Instead, they lessened the effects of the AMT by increasing AMT exemptions (an amount of income exempt from AMT taxation) and raising the income thresholds for when the exemptions are phased…
Take some time now to review and understand the below risks before your journey takes an unplanned detour. 1. Traveling Aimlessly Setting out on an adventure without a definitive destination can be exciting, but probably not when it comes to saving for retirement. As you begin your retirement strategy, one of the first steps you’ll…
If you’re already using QuickBooks Online, you know how much impact its bookkeeping abilities have had on your company’s accounting operations. You’re saving time, which in-turn saves money, and you’re reducing errors. When a customer or vendor calls with a question, or you yourself need to track down a critical detail to solve a problem,…
For the 2019-2020 school year, the federal government’s financial aid form, the FAFSA, can be filed as early as October 1, 2018. It relies on current asset information and two-year-old income information from your 2017 tax return, which means you’ll have the income data you need when you sit down to complete the form. This…
Blockchain is a data structure used to create a digital ledger shared among a distributed network of computers. It was initially designed for the peer-to-peer exchange of the virtual currency bitcoin. However, businesses are now developing and testing some potentially game-changing blockchain applications. According to a recent survey of executives across a variety of industries,…
The Tax Cuts and Jobs Act has left many of today’s businesses with big questions. Incorporation remains a hot topic, but this law is shaking things up. It’s quick to assume your company should be one or the other, but without careful consideration of the facts, your organization may end up facing financial loss, hefty…
Without an adequate emergency fund, a period of crisis could be financially devastating. Many financial professionals suggest that you set aside three to six months’ worth of living expenses for emergencies. The actual amount, however, should be based on your individual circumstances. Do you have a mortgage? Do you have short-term and long-term disability protection?…
If you have an IRA account or are considering one, there are a number of potential missteps you will want to avoid. Some of them can lead to unwanted taxes and penalties, and of course, we are talking about your retirement funding, so it is an important issue. Here are a number of issues to…
The transition into retirement is when you are changing from your full-time working years to your retirement years. If retirement is approaching, you may have to make numerous decisions. Questions you might be asking yourself: Can you afford to retire? What about early retirement—is it a possibility? If you want to continue working, are there…
A health savings account (HSA) is a tax-advantaged account that you can establish and contribute to if you are enrolled in a high-deductible health plan (HDHP). Because you shoulder a greater portion of your health-care costs, you’ll usually pay a much lower premium for an HDHP than you would pay for traditional health insurance. This…
In the last few years, it’s become common for consumers to ditch cable television in favor of streaming services and devices. Many affordable streaming options are available, making it easier for consumers to give up cable without necessarily sacrificing their favorite shows. But there are some drawbacks to relying exclusively on streaming services for television…
The dust has not yet settled from the Tax Cuts and Jobs Act (TCJA), passed into law in December 2017, and the House Ways and Means Committee is already considering another round of tax changes. The committee chair, Kevin Brady, Republican from Texas, wants to include input from stakeholders such as business groups, think tanks…
Not all plans offer hardship withdrawals, but the ones that do will be required to comply for plan years beginning in 2019. In order to take a hardship withdrawal from a 401(k) or similar plan, a plan participant must demonstrate an “immediate and heavy financial need,” as defined by the IRS. (For details, visit the…
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why you probably shouldn’t compare your portfolio’s performance to the S&P 500 Index. Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently…
By: Tim O’Pry | Chief Security Officer The vast majority of mobile devices today are either from Apple (iPhone and iPad), which all run Apple’s proprietary iOS, or they are running a version of Android from Google. Most security researchers consider the Apple iOS to be far more secure than Android for the following primary…
Taxpayers with higher 1040 taxable incomes who are self-employed but are not “specified service businesses” may find it beneficial to structure new businesses, or restructure an existing business, as an S corporation to avoid taxable income limitations that apply to the new 20% Sec. 199A pass-through deduction. To make up for the tax reform’s reduction…
Taxes are similar to vehicles, in that they sometimes need a check-up to make sure they are performing as expected. That is especially true for 2018, with all of the changes brought about by tax reform. One area of major concern is the amount of taxes individuals are withholding from their wages. Tax reform was…
Outstanding student loan debt in the United States has tripled over the last decade, surpassing both auto and credit card debt to take second place behind housing debt as the most common type of household debt.1 Today, more than 44 million Americans collectively owe more than $1.4 trillion in student debt.2 Here are some strategies to pay…
One advantage of term life insurance is that it is generally the most cost-effective way to achieve the maximum life insurance protection you can afford. Many people first purchase term life insurance to protect their family’s financial interests after a significant life event, such as getting married or the birth of a child. You may…
If an error appears on your credit report, you should contact the credit bureau and request a reinvestigation of the disputed information. If the error is not removed, you have the right to add a 100-word consumer statement to your credit bureau file to explain your side of the story. The three major credit reporting…
A frequent question is whether inheritances are taxable. This is a frequently misunderstood question related to taxation and can be complicated. When someone passes away, all of their assets will be subject to inheritance taxation, and whatever is left over after paying the inheritance tax passes to the decedent’s beneficiaries. Sound bleak? Don’t worry, very…
According to the most recent Congressional Budget Office (CBO) projection, the federal budget deficit for fiscal year 2018 (which ends on September 30) will reach $793 billion, or 3.9% of gross domestic product (GDP). This figure is $230 billion larger than the CBO previously estimated in June 2017, largely because legislation enacted since then reduced…
It’s exciting to discover an opportunity to expand the size or scope of your business, and sometimes more workers are needed to make that happen. In the fourth quarter of 2017, 32% of small-business owners said they intend to increase the number of jobs in their companies over the next 12 months.1 How do you…
To fully understand the impact of the law changes, we need to compare the prior tax law to the new tax reform. Under prior law, a taxpayer could deduct the interest he or she paid on up to $1 million of acquisition debt and $100,000 of equity debt secured by the taxpayer’s primary home and/or…
The New York Stock Exchange Group averaged more than 5.7 million trades per day in 2017, with an average of almost 1.5 billion shares changing hands.1 Many of these trades are more complex than most investors need to consider, but it may be helpful to understand some basic terms and types of trades. Bid and…
Nothing is 100% safe—and the sooner you understand that when it comes to all things on the Internet, the safer you’ll be.
In today’s Marietta Daily Journal, Bil Lako, CFP®, discusses the trend of college students overborrowing on student loans to cover lifestyle costs beyond tuition and education expenses. The numbers are shocking! Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation…
Unfortunately, it’s also easy to overlook some important details and steps when you’re starting a small business. By being aware of a few of the most common legal and compliance mistakes made by small business owners when starting out, you can be better prepared for future success. 1. Misclassifying Employees as Independent Contractors Regulators are…
Your credit report contains information about your past and present credit transactions. It’s used primarily by potential lenders to evaluate your creditworthiness. So if you’re about to apply for credit, especially for something significant like a mortgage, you’ll want to get and review a copy of your credit report. You Can See What They See:…
Gift taxes were created to prevent wealthy taxpayers from transferring their estates to their beneficiaries via gifts and thus avoid estate taxes when they pass away. But that does not mean only wealthy taxpayers need to be concerned with the gift tax provisions as, under many circumstances, even lower-income taxpayers may find they are liable…
The term “COBRA” is commonly used to refer to certain provisions of Title X of the Consolidated Omnibus Budget Reconciliation Act of 1986. This law provides an opportunity for employees and their dependents who have been covered by an employer-sponsored health insurance plan to continue coverage under circumstances where such coverage might otherwise have been…
QuickBooks Online’s Dashboard, the first screen you see when you log in, provides an effective overview of your company’s finances. It contains at-a-glance information about your recent expenses, your sales, and the status of your invoices. It displays a simple Profit and Loss graph and a list of your account balances. Scroll down and click…
Your actual student loan payments aren’t deductible, but the interest portion might be, thanks to the student loan interest deduction. In 2018, the maximum deduction is $2,500. You don’t need to itemize to claim this deduction. To qualify, you must meet a few requirements: First, the student loan on which you’re paying interest must be…
The tax treatment of awards received as the result of a lawsuit could result in taxable or non-taxable income, depending upon a number of issues. The laws are often complex and sometimes seemingly discriminatory. The actual taxation of an award is primarily based on the following factors: The nature of the legal action, The type…
Retirement plans established under Section 403(b) of the Internal Revenue Code, commonly referred to as “403(b) plans or “tax-sheltered annuities,” have become a popular type of employer-sponsored retirement plan. What is a 403(b) plan? A 403(b) plan is a retirement savings plan, sponsored by a tax-exempt organization or public school, that offers significant tax benefits…
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why it is important for both spouses to develop a fundamental understanding of your finances should something happen to the other spouse. Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation…
The Tax Cuts and Jobs Act that was passed last year included a new tax credit for employers that allows them to claim a credit based on wages paid to qualifying employees while they are on family and medical leave. To qualify for the credit, an employer must have a written policy that provides at…
It’s a good idea to close redundant or unused accounts you do not consider necessary. Here are a few reasons why: If credit is easily available, you may be tempted to use it. Any impulsive purchases could quickly mount up and result in serious debt problems. Open accounts may be used fraudulently if your account…
This is a common question: How long must taxpayers keep copies of their tax returns and supporting documents? Generally, taxpayers should hold on to their tax records for at least 3 years after the due date of the return to which those records apply. However, if the original return was filed later than the due…
There are two types of rollovers: direct and indirect. A direct rollover is paid from your plan directly to your IRA or to your new employer’s retirement plan. The funds are never payable to you. An indirect (60-day) rollover is a payment made to you that you later roll over to an IRA or an…
Most small business owners are an expert in their field, but not necessarily in the accounting aspects of building a business. And, with this comes a few common mistakes. Yet, even simple small business accounting mistakes can prove to be financially limiting and costly down the road. With the help of an accounting professional, it…
Your 20s 1. Living beyond your means. It’s tempting to splurge on gadgets, entertainment, and travel, but if you can’t pay for most of your wants up front, then you need to rein in your lifestyle, especially if you have student loans to repay. 2. Not paying yourself first. Save a portion of every paycheck first…
In addition to the below, there may also be tax benefits under state law. Mortgage Interest Deduction One of the most important tax benefits of owning a home is that you may be able to deduct the mortgage interest you pay. If you itemize deductions on your federal income tax return, you can deduct the…
Each year, the Employee Benefit Research Institute (EBRI) conducts its Retirement Confidence Survey to assess both worker and retiree confidence in financial aspects of retirement. In 2018, as in years past, retirees expressed a higher level of confidence than today’s workers (perhaps because “retirement” is less of an abstract concept to those actually living it).…
When you sell your business to a family member, your objective may be to keep the business within the family and make it as easy as possible for your relative to make the purchase. When you sell your business to nonfamily, however, your primary objective may be to get the highest possible price for the…
To the federal government the annual cost of college means the cost of attendance. Twice per year, the federal government calculates the cost of attendance for each college, adjusts the figure for inflation, and, if you or your child is applying for financial aid, uses this number to determine the financial need. Five categories of…
If you have received an IRS envelope from the Internal Revenue Service (IRS) in your mailbox that does not contain a refund check, it will probably cause an increase your heart rate likely increased. But Don’t panic, though; most of the issues in these letters can be dealt with simply and painlessly. Every year, the…
Planning for marriage should involve more than just picking out invitations and deciding whether you should serve chicken or fish at the reception. More importantly, you’ll want to take a look at how marriage will impact your financial situation. And while there are a number of issues you’ll need to think about, careful planning can…
You know you should have a budget. You’re aware that it can help you stay on track with your company’s income and expenses throughout the year. Maybe you’ve even tried to make one before, but you got discouraged by the mechanics or by the difficulty of estimating money in and out for the next 12…
Tax deductions and credits are terms often used together when talking about taxes. While you probably know that they can lower your tax liability, you might wonder about the difference between the two. A tax deduction reduces your taxable income, so when you calculate your tax liability, you’re doing so against a lower amount. Essentially,…
There are TV ads, telemarketing phone calls and sales people at your front door all promoting the benefits of solar power, and one of the key considerations and a frequently mentioned benefit is the 30% federal tax credit. What isn’t included in the ads—and something most potential buyers are unaware of—is that the solar credit…
No, you don’t. A bequest is a gift left to you in a decedent’s Will. You may not want the gift for a variety of reasons. For example, it may be a burden on you, or it may result in adverse tax consequences for you. Whatever your reason for not wanting the bequest, you can…
The good news: Home-office deduction is still allowed for self-employed taxpayers. The bad news: It’s no longer available for employees, at least for 2018 through 2025. Read all about the changes in this week’s Business Tip.
Years ago, to prevent parents from transferring their investment accounts into their children’s name to avoid taxes, Congress created what is referred to as the kiddie tax. This counteracted the strategy of taking income from the parents’ higher tax bracket and shifting it to their children’s lower tax bracket. The kiddie tax plugged that tax…
One way is to call your existing lender and try to negotiate a lower rate. Often, the threat of losing a customer and the associated income from your finance charges can inspire a card company to accept a lower interest rate and keep the relationship. Negotiation is most effective if you have a stable payment…
Many people had their first experience with saving for the future as children when they received a U.S. savings bond as a gift. Savings bonds are issued by the U.S. Treasury Department. However, unlike Treasury bills, notes, and bonds, they are not traded on the open market, and are sold almost exclusively to individuals. EE…
Want to control how your heirs spend their assets, minimize estate taxes, and possibly avoid probate? Trusts are very flexible tools to accomplish a bunch of wishes. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, describes how your time horizon and risk tolerance for investing are intricately linked, and what to do when time horizons change.
Buying a house? Lenders use formulas based on your gross monthly income, your housing expenses, and your long-term debt to determine how large of a mortgage you qualify for. Read all about it in this Question of the Week.
If you have your money professionally managed, the Tax Cuts and Jobs Act took away the itemized deduction you took for those management fees. Learn more in this week’s Tax Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how you can profit from your business, minimize your capital gains, and benefit a charity by creating a charitable trust.
We tease that the Tax Cuts and Jobs Act was the employment act for accountants…it’s funny because it’s true, especially when it comes to choosing your accounting method for businesses. Find out why in this week’s Business Tip.
Making one debt payment instead of many may help you keep your debt under better control, but you may end up paying more in interest over time. We explain in this Question of the Week.
Now that the fog of 2017’s taxes are behind you, did you talk to your C.P.A. about 2018? Some significant rules have changed, especially itemized deductions. Better take a look at your taxes now! We explain in this week’s Tax Tip.
IRAs were meant to fund your retirement, so the IRS penalizes you if you withdraw from your account prior to age 59½. Learn the details in this week’s Financial Tip.
You might just think invoices are so you can get paid, but your accounting forms also contribute to your business’s image. We explain how you can personalize them in this QuickBooks Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains the may options of group health care coverage. Recent graduates who are accepting jobs might think that they’ve got an easy ride since their new employer offers a group health plan. Truth is, navigating the options in group health plans can be complicated.
When investors think of stocks, they often think of them increasing or decreasing in price. However, some companies share their earnings with shareholders in the form of dividends. Read all about it in this week’s Question of the Week.
Divorce in your future? Tax reform changed a lot of things, including how alimony is treated on your income tax return. Learn more in this week’s Tax Tip.
Love & Marriage: it starts with mapping out your financial future together. Being on the same page is a step to making it a partnership that will last! We explain in this week’s Financial Tip.
How do you determine if the world of self-employment is a pipe dream or an idea worth pursuing? We list out some advantages and disadvantages in this week’s Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that money is worth more today than an identical amount in the future because of its potential earning capacity. This is how you balance saving for retirement while you still have debt to pay off. Read the Article This article is for demonstrative and academic purposes and…
Stressed out about your student loans? Take a look at the several income-driven repayment plans offered by the federal government. We explain in this Question of the Week.
Despite your Social Security benefit coming from a tax on your earnings, once you’re receiving benefits, you may have to pay tax on them! We explain in this week’s Tax Tip.
Confidence in retirement savings is up in 2018, but health care costs and Social Security still remain a concern. Learn more in this week’s Financial Tip.
Have you “migrated to the cloud?” No, not your family photos or back up files—your small business accounting! Learn more in this week’s Business Tip.
Is the new-car smell worth it, or do you want someone else to take the depreciation hit? We explain points to consider as you shop for a vehicle in our Question of the Week.
The Affordable Care Act imposed a “share-responsibility payment” on taxpayers who did not sign up for minimum essential health coverage. This is eliminated in 2019. Read all about it in this week’s Tax Tip.
Even when most of a married couple’s retirement assets reside in different accounts, it’s still possible to craft a unified retirement strategy. We explain in this week’s Financial Tip.
Tax reform made some sweeping changes to the tax brackets, withholding tables and deductions. You may need to prepare to NOT receive a refund! We explain in this week’s Tax Tip.
If you listen to business news, you’ve surely come across GDP—gross domestic product. Learn why it is such an important economic measure in this week’s Financial Tip.
Your temporary summer staff may be entitled to employee benefits if they work enough hours for your company. We explain in this week’s Business Tip.
In today’s Marietta Daily Journal, we explain how you can direct the money you’d pay in state income tax to fund rural hospitals in Georgia and get credit for a charitable donation on your federal returns. Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on…
You have a choice: the fraud protection that comes with a credit card, or the money management inherent to a debit card. Pick your plastic! Learn more in our Question of the Week.
Tax reform made a bunch of changes that affect nearly every taxpayer. Learn some of the new rules you need to factor in to your mid-year tax planning in this week’s Tax Tip.
Is your child around 17 years old? Time to have the talk….the talk about the Cost of College, and what it means to borrow money. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal: Bil Lako, CFP®, explains while we prefer to see companies invest in more innovation, research and development, and new product offerings, that stock buyback programs are not a bad thing. Read the Article
When valuing a business, the calculations may assume the business will grow at a steady rate forever—and that’s a bold assumption! Read why in this week’s Business Tip.
When you bought a computer from the big-box store, did the cashier try to sell you an extended warranty? Find out if it’s worth it in this week’s Question of the Week.
An individual can protect up to $11.18 million from the generation-skipping transfer tax, but unlike estate tax, it’s not portable between spouses. We explain in this week’s Tax Tip.
Most people will receive Social Security benefits at some point in their lifetimes, but how much do you know about this important source of income? Take this quiz to learn more.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains while we prefer to see companies invest in more innovation, research and development, and new product offerings, that stock buyback programs are not a bad thing.
Almost every business wants to be paid as soon as possible. For business owners, QuickBooks has tools to help your customers pay easily and on time! Learn more in this QuickBooks Tip.
When you have extra cash on hand, take a look at what your debt is costing you. You might find a use for that cash! We explain in our Question of the Week.
The tax reform laws increased how much you can save to an ABLE account for individuals who are blind or disabled. We explain in this week’s Tax Tip.
Despite its reputation, there is little reason for most people to avoid probate. However, be aware that the average process takes six to nine months to complete. Learn more in this Financial Tip.
You need credit but you have no credit, so no one will extend you credit. There are ways out of this vicious cycle that will help you build a good credit history. Learn more in this Question of the Week.
Bil Lako, CFP®, explains how one leading economic indicator doesn’t always mean the economy is doomed.
Read more in today’s Marietta Daily Journal.
Being an efficient CEO involves a lot more than just “having a vision” or “barking orders.” Learn the three “P’s” of great leadership in this week’s Business Tip.
Just because your cryptocurrency is anonymous doesn’t mean you may not owe taxes on your investment or transactions. We explain in this week’s Tax Tip.
Despite proposals to the contrary, the tax reform law did not radically change the tax breaks for higher education. Read the changes that were made in this week’s Financial Tip.
It’s your money and your financial future you’re watching decline. Bil Lako, CFP®, explains that it’s the actions that you take during that volatility that define you as an investor.
Having to choose between an HMO and a PPO? The differences come down to flexibility and cost. We explain in our Question of the Week.
Section 1031 exchanges, also known as like-kind exchanges, are now limited to real estate. We explain in this week’s Business Tip.
Are your itemized deductions typically roughly equal to the new standard deduction amount? If so, think about using a tax strategy known as bunching. Learn more in this week’s Tax Tip.
Congratulations to Roger Tutterow, Ph.D., who was appointed as the Henssler Financial Endowed Chair at Kennesaw State University.
No matter how you leave your job, you’ll be entitled to your vested 401(k) balance. What you do next with your money has different tax consequences. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that during volatile market movements, you don’t have to change your portfolio, but you do have an opportunity to use volatility to your advantage.
“To rent or to own,” that is the question! Each has its advantages. On one hand you have the ease of relocating, on the other, equity! We explain in this week’s Question of the Week.
Let’s be clear. Business losses are allowed in 2018. “Excessive business losses” are treated as net operating losses. Learn more in this week’s Business Tip.
Nine out of 10 taxpayers typically receive refunds in fewer than 21 days when they use e-file with direct deposit. Where is your refund? Learn how to find out in this week’s Tax Tip.
W-2 W-4. Nope, not R2-D2’s cousin. Something much scarier: Tax Forms related to income. Good news is they’re pretty innocuous. We explain the difference in this week’s Question of the Week.
Some of the most common stressors encountered by entrepreneurs involve tax liabilities. We give tips that every entrepreneur needs to know in this week’s Business Tip.
Don’t have the cash to pay the IRS? You have a few options to pay what you owe. Whatever you do, don’t ignore your tax liability!
Credit cards out of control? If you’re not paying them off every month, we have some tips to help you pay off that balance in our Question of the Week.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that just because you don’t have a tax problem because of the $11.21 million estate tax exclusion doesn’t mean you don’t have an estate plan problem.
Entertaining clients is going to get much more expensive for businesses thanks to the Tax Cuts and Jobs Act. Maybe hold off on buying those concert tickets for your client. Read all about it in this week’s Business Tip.
Living and working abroad? The Tax Cuts and Jobs Act still affected you—especially if you have ownership in a foreign corporation. We explain in this week’s Tax Tip.
Unreimbursed business expenses were part of those miscellaneous itemized deductions that were eliminated with tax reform. Will this hurt you? Find out in this week’s Tax Tip.
Where do you even start your retirement budget? Setting a retirement income goal is a good place. We offer four points to consider when setting your goal in this week’s Financial Tip.
Have a home equity line of credit? In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why you should talk to your tax consultant TODAY to understand how it will affect your taxes next year. Read the Artcile
As a small business owner, if you have qualified business income, you may qualify for a nice tax break thanks to the Tax Cuts and Jobs Act. We explain in this week’s Business Tip.
The estate tax exclusion for 2018 is $11,180,000 for individuals and $22,400,000 for married couples—and the portability provision is still in place! Learn more in this week’s Estate Planning Tip.
Beginning in 2018 Roth conversions of a Traditional IRA cannot be undone. Once a conversion is made, you will have to live with the tax consequences. Learn more in this Tax Tip.
You’re committed. You’re ready to do it. Let’s create a budget! Uh… where do you start? We have some tips for you in this week’s Financial Tip.
QuickBooks contains tools to help you record the hours employees spend doing work for customers, so you can bill them for services rendered. Learn how in this QuickBooks Tip.
Today’s Marietta Daily Journal: Despite being a conservative investor, Bil Lako, CFP®, takes a look at the phenomenon that is Bitcoin. Read the Article
For tax years 2018 through 2025, the Tax Cuts and Jobs Act has suspended the itemized deduction for personal casualty and theft losses—but there is an exception. We explain in this week’s Insurance Tip.
The IRS and the State Department have established procedures for denying passport applications or revoking previously issued passports for taxpayers who have a seriously delinquent tax debt. Read more in this Tax Tip.
Even though retirement may be 10 years away, you still have your work cut out for you before the big day. Considering these points now will make the transition that much easier. We explain in this week’s Financial Tip.
Concerned about the cost of the Special Counsel investigating Trump? Sean Hannity’s adviser Bil Lako, CFP®, explains who is actually paying for it. Read the Article
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains when it is and when it isn’t the IRS calling you. Read the Article
If you are a business owner and you are also the chief innovator and top salesman, you may want to consider how this might negatively affect your future. We explain in this Business Tip.
Gene W. Henssler, Ph.D., was recognized by Barron’s Magazine “Top 1,200 Financial Advisors.” Barron’s published their annual state-by-state listing of financial advisors in the March 10, 2018 issue. Coming in at No. 7 this year, Dr. Henssler has made the Georgia list since 2014. See the List Barron’s 2018 “Top 1,200 Financial Advisors” published in…
If you think that your auto insurance costs are higher than normal, there may be some ways to help lower your premiums. We explain in this Insurance Tip.
The tax reform law didn’t outlaw business losses. It just limits your losses. Excess losses are treated as a net operating loss (NOL) and carried forward to the next year’s return. We explain in this week’s Tax Tip.
They say, “less is more,” and sometimes in retirement, that is true. Downsizing can be a savvy financial move. We explain in this week’s Financial Tip.
As a business owner, your people are a great investment. Consider keeping your employees healthy and happy with a wellness program. We explain in this week’s Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, shows the possible impact the Tax Cuts and Jobs Act could have on the tax treatment of alimony payments. Read the Article
Working in retirement to keep your mind active? Depending on your age, earnings from work may affect the amount of your Social Security benefit. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, discusses how the corporate tax cuts in the Tax Cuts and Jobs Act may affect the economy. Read the Article
Small businesses have several options for deducting the purchase of equipment on their taxes. Which one do you choose? Depends on how big of a deduction is needed, and when. We explain in this week’s Business Tip.
Settling an estate can be a difficult and time-consuming job that could take several months to more than a year to complete. Learn all about it in this Estate Planning Tip.
Those who track mileage for work will be glad to know the IRS adjusted the 2018 standard mileage rate for inflation. Read more in this week’s Tax Tip.
The Office of Financial Readiness now offers a new military retirement system that blends a defined benefit annuity with a defined contribution plan. Read all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains the changes the Tax Cuts and Jobs Act made to Alternative Minimum Tax. Read the Article
Business owners: Read nine key ways to create an effective budget that can spur and guide the growth of your company in this week’s Business Tip.
Medical advances increase the chances that you will survive a serious illness that in the past may have killed you. But what are your chances of surviving financially, as well? Learn more in this week’s Insurance Tip.
With the Tax Cuts and Jobs Act, Congress has yanked the rug out from under those with equity debt on their homes. (It’s no longer deductible!) We explain in this week’s Tax Tip.
If you are subject to AMT, you may see your AMT calculations more closely resemble your standard tax liability calculations because of the changes to how your standard tax liability is calculated and the higher exemptions for AMT. Read the Article on Sean Hannity’s website This article is for demonstrative and academic purposes and is…
Roth IRAs and 529 plans have a similar tax modus operandi: both are funded with after-tax dollars and contributions accumulate tax deferred. But should you use a Roth IRA to save money for college? We explain in this week’s Financial Tip.
Are you considering buying a business? Make sure you do your due diligence by looking at the value of the intangible assets. Learn more in this Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that personal casualty losses are no longer deductible unless it is the result of a presidentially declared disaster for tax years beginning in 2018. Read the Article
The best time to plan for your parents’ aging is when they are relatively healthy; otherwise, you may find yourself making critical decisions on their behalf during a crisis. We explain in this week’s Estate Planning Tip.
Those with substantial medical bills will be delighted to learn that medical deductions were retained in the Tax Cuts and Jobs Act, and the AGI floor was lowered to 7.5% for 2017 and 2018. We explain in this week’s Tax Tip.
Bil Lako, CFP®, Sean Hannity’s financial expert, explains why a pullback in the stock market is a good opportunity for investors. Read the Article
The equity in your home could be one of your largest assets, especially if your mortgage has been paid down over the years or paid off. We explain in this week’s Financial Tip.
The Tax Cuts and Jobs Act made some significant changes for businesses, including lower corporate tax rates, provisions for pass-through entities, expanded Section 179 expensing and bonus depreciations, and provisions for foreign income. We explain in this week’s Business Tip.
In Today’s Marietta Daily Journal, Bil Lako, CFP®, explains the changes to the Kiddie Tax that discourages parents from shifting income-producing assets to a child. Read the Article
With the late passage of the Tax Cuts and Jobs Act, the IRS is scrambling to update withholding tables for employers. Keep an eye on your net pay. If the change is too radical you could end up owing tax. We explain in this week’s Tax Tip.
529 Plan account owners can now transfer funds without federal tax consequences from a 529 plan to an ABLE account, a tax-advantaged account for disability-related expenses for individuals who become blind or disabled before age 26. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how businesses can upgrade their equipment and take a much larger tax write-off in 2018. Read the Article
As an entrepreneur, there’s nothing as exciting as opening the doors for the first time. Before the grand opening, here are few steps you need to do first. We explain in this week’s Business Tip.
Not all long-term care recipients need a nursing home. Some may do just fine in an in-law suite, an assisted living facility or with a home health aide. We explain options in this week’s Insurance Tip.
In retirement, your paychecks stop, but inflation can keep rising; therefore, your portfolio needs to maintain at least some growth potential. We explain in this week’s Financial Tip.
Henssler Associate Peter Lynch, explains the power of compounding interest on your retirement and overall finances. hensslervideo_personal_finance
If companies with intangible assets are being valued like the average industry participant, they may be undervalued. We explain in this week’s Business Tip.
With more than 70 private schools in Cobb County, Bil Lako, CFP®, explains how you can now use 529 Plan assets for tuition. Read the Article in today’s Marietta Daily Journal
If you own a business, offering group disability is an attractive benefit for your employees since the cost of group coverage is often less expensive than the cost of individual coverage. We explain in this week’s Insurance Tip.
Left with damage after Harvey, Irma, José, and Katia left? You may be able to deduct your casualty loss on your 2017 tax return. Learn more in this week’s Tax Tip.
Do you believe money is bad? Or that money makes the man? Maybe you believe that with money comes great power. How you view money influences your financial success. We explain in this week’s Financial Tip.
Does your accounting to-do list look like a clean slate, or are critical 2017 tasks still nagging? We share five reports you should run in January in this QuickBooks Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how the loss of personal exemptions may affect families. Read the Article
There are many factors to consider when you are planning for the potential for incapacity, even when you have substantial financial resources available for your long-term care. We explain this this Estate Planning Tip.
If you schlep people around town as part of a ride-sharing service, you are considered self-employed and have a unique tax situation that warrants attention! We explain in this week’s Tax Tip.
Bil Lako, CFP®, explains while everyone lost personal exemptions, many more taxpayers gained the child tax credit. Read the Article on Sean Hannity’s Website
Roughly 1.2 million baby boomers will retire this year. And next year. And the year after that, and so on. We take a look at what that may mean for our economy in this week’s Financial Tip.
QuickBooks Online does more than simply download financial transactions: It lets you define them in greater detail. We explain in this QuickBooks Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how going forward, Traditional to Roth IRA conversions are a permanent decision for investors. Read the Article
There are many reasons to refinance your home besides getting a lower interest rate. We explore the reasons in this week’s Financial Tip.
You heard the headline that “service businesses” weren’t eligible for a 20% deduction on pass-through income, however, you can still get the deduction if your joint taxable income is less than $315,000. We explain in this Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that some “specified service or trade businesses” can still qualify for the 20% deduction on qualified business income. Read the Article
Not all loan interest is the same! The rules for deducting interest on your taxes depend on whether the loan proceeds are used for personal, investment, or business activities. We explain in this week’s Tax Tip.
Compounding happens when you earn returns on your invested money and then you reinvest your returns so that money can also earn returns. It seems magical the longer you let it ride! Learn more in this week’s Financial Tip.
Compounding happens when you earn returns on your invested money and then you reinvest your returns so that money can also earn returns. It seems magical the longer you let it ride! Learn more in this week’s Financial Tip.
Hannity finance expert and Principal of Henssler Financial, Bil Lako, CFP®, weighs in on the new tax bill.
Employers who misclassify workers as independent contractors can end up with substantial tax bills
and face penalties for failing to pay employment taxes and not filing the required tax forms. Read more in this week’s Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, delves into the 20% deduction for pass-through businesses.
Smokers may be tempted to make false statements on life insurance applications to ensure acceptance or lower premiums. Doing so may result in policy termination or refusal to pay claims. We explain in this week’s Insurance Tip.
There are far more issues related to gambling than you might imagine, and they may be impacting your taxes more than you know. We explain in this week’s Tax Tip.
The amount of risk in your portfolio should reflect your ability to endure periods of market volatility, both financially and emotionally. Learn what questions to ask yourself in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, delves into the Tax Reform Bill and how to navigate going forward.
When a closely held business is involved, it can be challenging for parents to achieve a distribution of their assets that is equitable. Learn why in this week’s Business Tip.
A 2% cost-of-living increase for 2018 Social Security benefits will cause more people to pay higher monthly Medicare Part B premiums. Learn more in this week’s Insurance Tip.
We all dream about winning Power Ball, but a significant financial windfall is not as simple as deciding how to spend the money. We explain in this week’s Financial Tip.
Bil Lako, CFP®, had a chance to interview Shari Martin from the Cobb Community Foundation on how they assist philanthropic individuals, families, businesses and organizations with donor-advised funds.
If your business is online—let’s face it, most business are—you’re not immune to a data breach. Protect your customer data not only with a firewall but a cyber insurance policy as well. Learn more in this week’s Business Tip.
We warned you! Tax laws do change, and we’re approaching what could be a BIG change. Thankfully there is still time and moves to make that may reduce your 2017 tax bill. Read all about it in this week’s Tax Tip.
Baby boomers are turning 70½ at a fast clip—about 10,000 per day! If you’re a baby boomer, it’s time to take required minimum distributions seriously because penalties are steep!
Key Performance Indicators help business owners know how their company is performing, and they can be used as a guiding point for every decision made within the company. We explain in this week’s Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how you have to understand what you’re protecting before you buy a souped-up insurance policy to cover it. Spoiler Alert: It starts with your financial plan!
If you find that you still have money left over in your FSA as the end of the year approaches, there are a number of ways to spend down your account balance. We explain in this week’s Insurance Tip.
Remember all those tax documents you get? The 1099s, W2s, K-1s? The IRS also receives a copy, and they can match it to what you report. Omit one and you’ll get a letter. We explain in this week’s Tax Tip.
There are so many “retirement rules of thumb” to help you save. However, the retirement YOU want may be quite different from the average. Consider your situation before taking generic advice. Read all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, provides his opinions on if it is time to get out of the market and go to cash. Spoiler Alert: The market’s fundamentals are solid.
Considering buying your office space? Consider the tax benefits, potential rental income, and your need for room to grow before you purchase. Read all about it in this week’s Business Tip.
You can convert your traditional IRA to a Roth IRA this year, and if tax laws change in your favor, you can recharacterize the conversion for 2017 and then re-convert for 2018. We explain in this week’s Tax Tip.
Yes, you want that Porsche. But before you fork over thousands of dollars, ask yourself a series of questions to help you decide if the purchase is really worth it. Learn more in this week’s Financial Tip.
Henssler staff donated more than 2,900 food items and more than 60 hours sorting and packing food for The Center for Family Resources 2017 Thanks for Giving food drive.
Bil Lako, CFP® explains that you actually want to owe a lot of tax on your investment portfolio because that means you’re making a lot of money.
While it is included in many health care plans, you may be able to buy a separate prescription drug plan, especially if you spend a lot of money on your medications. We explain in this week’s Insurance Tip.
It’s almost year-end! If you want to improve your tax situation for 2017, learn 10 potential tax moves in this week’s Tax Tip.
The Social Security Administration has stopped mailing Social Security Statements to individuals under age 60, but you can get your statement online. Learn more in this week’s Financial Tip.
The reality is that each week there is another high-profile story like the incidents at Equifax, Target, and Yahoo. Unfortunately, there are many more that never make the headlines. The fact is business is online these days, from receiving eStatements from Schwab to buying your movie tickets for Friday night. One thing is clear: You…
Before you spend sleepless nights crunching numbers for your business, understand the basics of bookkeeping. Learn more in this Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why it is essential to pass family assets to the heirs in a specific way, but to also educate the heirs on how to protect their inheritance moving forward.
Not all proceeds from a life insurance policy qualify for favorable tax treatment. We explain in this week’s Insurance Tip.
Is a reverse mortgage too good to be true? It really depends. The devil is in the details. We explain in this week’s Tax Tip.
If a sharknado struck your home tomorrow, would you lose all of your important documents? Learn what to do in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, discusses some critical estate planning documents that you’ll need if ever incapacitated.
QuickBooks statements provide an overview of every transaction that has occurred during a specified period of time. Learn more in this QuickBooks Tip.
We all appreciate the sacrifices the military makes, even the IRS. Service members are eligible for some tax breaks. We explain in this week’s Tax Tip.
A spouse’s death can be overwhelming. It’s important to take certain steps to move on financially. We explain in this week’s Financial Tip.
Hiring a disadvantaged individual can be a win-win situation thanks to the Work Opportunity Tax Credit.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains insuring your most valuable asset: your ability to earn a living.
Individuals seeking coverage through the Health Insurance Marketplace have a shortened window to enroll in a plan. Learn more in this week’s Insurance Tip.
Headed to the casino? Remember, the tax code requires all gambling winnings to be reported. We explain in this week’s Tax Tip.
Did you know you can borrow too much money for college? Learn the general guidelines for borrowing in this week’s Financial Tip.
The Henssler Staff collected diapers for the Ninth Annual Cobb County Diaper Day held at Glover Park in the Marietta Square. Employees maximized their purchases, finding deals online and in stores to donate a total of 4,737 diapers.
Your business’s cash flow is essential to your long-term success. Read tips on how to enhance it in this week’s Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, shares information on recouping your losses if you were affected by hurricanes. Read the Article Disclosures: This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All…
Our “Marathon Month” helped employees stay active and generated more than $1,500 for The Center for Family Resources. Read the Article
“It won’t happen to me” Fact: You’re more likely to become disabled than you realize. Disability insurance can help. We explain how in this week’s Insurance Tip.
If you are donating a substantial amount of property or items to a charity, an appraisal may be required. Read all about it in this week’s Tax Tip.
A Will is so much more than a list of who gets what when you’re gone. Learn what it can do in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, highlights some financial issues that may arise when one spouse retires early. Read the Article This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented…
QuickBooks provides numerous ways to learn about your company’s health. Income Tracker is one of the most effective. We explain in this QuickBooks Tip.
Celebrated for their outstanding work, seven associates from Henssler Financial received the 2017 Five Star Wealth Manager award by Five Star Professional. The list of winners published in the October issue of Atlanta Magazine.
Henssler challenges staff to Marathon Month with proceeds going to The Center for Family Resources.
If you volunteered for a charity in the aftermath of Hurricane Harvey or Irma, you may qualify for some tax breaks. Learn more in this week’s Tax Tip.
If you can’t max out your 401(k), you should at least try to contribute up to the limit your employer will match. Learn why in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how the decision to take Social Security comes back to your financial plan. Read the Article This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may…
In many cases, an individual 401(k) plan may offer a better combination of benefits than SEP or SIMPLE plans. Learn more in this week’s Business Tip.
Check out your hurricane relief charities before you donate! Fraudsters will solicit on behalf of a fake charity. We explain in this special Tax Tip.
If you were a victim of the recent hurricanes, you may be able to recoup some of your loss through a tax deduction. We explain in this week’s Tax Tip.
You just came into some money. Do you save for retirement or pay down debt? It’s a common quandary many face. Learn strategies in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains the cost of capital for your business.
In today’s Marietta Daily Journal: With so much online these days, Bil Lako, CFP® explains how to you protect your information.
The IRS provides tax incentives for businesses that produce their goods and services domestically. Learn more in this week’s Business Tip.
Did you send the IRS a wedding invite? Even if you did, you still need to make some changes now that you’re married. View a list of things to do in this week’s Tax Tip.
Ever hear “Too much of a good thing?” It’s true for a lot of things, including company stock you own. We explain in this week’s Financial Tip.
Business Owner Pro Tip: It is cheaper to hire an accounting professional today before things get out of hand tomorrow. We explain in this week’s Business Tip.
Obamacare included a subsidy for low income families, but some find they have to repay part of the subsidy. Learn why in this week’s Insurance Tip.
If you suffered a loss as a result of Hurricane Harvey, you may be eligible for a tax deduction. Read more in this week’s Tax Tip.
Last year U.S. data breaches increased 40%. Learn how to lessen your chances of being a victim of cybercrime in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how private family foundations create a giving legacy for wealthy families.
Many types of businesses can take advantage of the Research Credit to offset payroll taxes. Read all about them in this week’s Business Tip.
If you have a vacation home or second property you need insurance specifically designed for your property. Learn more in this week’s Insurance Tip.
Thinking about going green? Before you leap, consider the tax and financial aspects of solar electric systems. We explain in this week’s Tax Tip.
In today’s Marietta Daily Journal: Bil Lako, CFP® explains how dollar cost averaging would have worked during the Great Recession
QuickBooks Online has many best practices that can help you streamline your workflow and provide financial insight. Read more in this special QuickBooks Tip.
When you’re eligible for both Medicare and your employer’s health coverage, you’ll need navigate an array of rules. Learn more in this week’s Insurance Tip.
Financial aid is confusing—you got that right! But don’t be misled by these five misconceptions. Read all about it in this week’s Financial Tip.
A buy-sell agreement establishes its price and provides cash to complete the business purchase should one owner leave. We explain in this week’s Business Tip.
If something were to happen to you, would your family be able to manage financially? Life insurance can help. Read all about it in this week’s Insurance Tip.
You see inflation affect prices every time you go to the grocery store. But how does the Fed measure it? We explain in this week’s Financial Tip.
A growing family needs to evaluate and adapt their financial plan. We list out the financial areas you should review in this week’s Marietta Daily Journal Article.
As a business owner, are you stretched too thin? It may be time to consider hiring your first employee. Learn what you need to do in this week’s Business Tip.
Long-term care policies are not standard, so when shopping you have to compare both the policy and the insurance company. Learn how in this week’s Insurance Tip.
Renting your home to an Airbnb guest? The IRS has specific rules for short-term rentals. We explain in this week’s Tax Tip.
Marrying for a second or third time? Consider a prenuptial agreement to protect your assets. Learn why in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, shares tips on how grandparents can help toward higher education costs.
You make money from your YouTube videos, but are you a business for profit or is this just a hobby? It matters to the IRS. We explain in this week’s Business Tip.
If your Medicare HMO goes out of business, you have several choices to make, but a short window to make them. We explain in this week’s Insurance Tip.
The IRS has expanded what falls under “qualified higher education expenses” for 529 Plans. Read all about it in this week’s Tax Tip.
In today’s Marietta Daily Journal: Per Bil Lako, CFP®, women, who statistically live longer, may need more financial planning.
Self-employed individuals benefit by deducting their business expenses directly on their business schedule. Read more in this week’s Business Tip.
Chances are high that you or a loved one will need long-term care. Are you prepared for the expense? Learn more in this week’s Insurance Tip.
Borrowing funds to finance an education? You may consider a borrowing against your home because of the tax benefits. We explain in this week’s Tax Tip.
Despite the time and energy you spend evaluating, the hardest part is deciding whether to accept the job offer. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal: Per Bil Lako, CFP®, small businesses can make moves to minimize their tax situation for 2017.
Latest reports indicate both the Social Security and Medicare Trust Funds still face financial challenges. Read more in this week’s Insurance Tip.
If you hire a domestic worker to provide services in your home, you may have a tax liability that you don’t know about. Read all about it in this week’s Tax Tip.
529 Plans are made specifically for college savings. You can contribute a lot, and there are tax benefits too! Learn more in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains what small-business owners need to consider when developing a retirement plan. Read the Article
Analysts rely on market data from both private and public companies to determine the value of companies. We explain in this week’s Business Tip.
There is a clear connection between health and wealth; therefore, you need to develop plans to manage both. Learn more in this week’s Insurance Tip.
Before you get a part-time job to supplement your income during your retirement years, there are points to consider. Read all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how the Fed will reduce their balance sheet and the effect on the economy.
An accounting professional who can leverage their years of experience to your company’s advantage is a good idea. Learn more in this week’s Business Tip.
Many states have begun to allow private insurers to sell state-approved long-term care Partnership policies. We explain what they are in this week’s Insurance Tip.
If tax reform occurs, it may very well include repeal of the federal estate tax and more. Read all about it in this week’s Tax Tip.
New federal student loans disbursed on or after 7/1/2017, and before 7/1/2018 will carry a higher interest rate. Learn more in this week’s Financial Tip.
Age-weighted profit-sharing plans allocate contributions based on age, salary and projected benefits at retirement age. Learn more in this week’s Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® says with current market conditions, now is a great time to rebalance your investments.
Henssler Financial’s sophisticated technology needs were highlighted in an article on independent financial firms.
Do you know exactly what you own? Remembering it all is practically impossible after a fire, theft or other calamity. Learn more in this week’s Insurance Tip.
Before making any early withdrawals from an IRA or other retirement plan, carefully consider the consequences. Read more in this week’s Tax Tip.
A 529 Plan can reach a hefty balance, but who controls the money? It depends. Read all about it in this week’s Financial Tip.
Keeping your company’s data safe is vitally important. Take steps to protect your QuickBooks company file in this QuickBook’s tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how often the impetus behind creating trusts is to control how your assets are directed from beyond the grave.
The IRS audit selection process favors returns that claim the Earned Income Tax Credit. Learn more in this week’s Tax Tip.
As you meet certain requirements, you can make a direct or 60-day rollover from a 401(k) plan to a Roth IRA. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how your financial plan can show the need for LTC coverage.
Small-business owners can use financial key performance indicators to measure the health of their business. Read all about it in this week’s Business Tip.
If you’re concerned your funeral costs will be a burden to your family, you may consider funeral insurance. We explain in this week’s Insurance Tip.
Some seniors may benefit from a qualified longevity annuity contract to lower their RMDs. We explain in this week’s Tax Tip.
Student loan debt is real: The 2015 graduating class had an average debt of $30,100. Learn more in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why you might think the market is in a bubble and why it’s actually not.
Before you tap your home equity to fund a business venture, you need to understand the tax ramifications. Read all about it in this week’s Business Tip.
In most cases, windstorm damage to your home is covered by standard homeowners insurance. But there can be exceptions. We explain in this week’s Insurance Tip.
Tax laws are *always* subject to change. Learn what deductions may be up for elimination in this week’s Tax Tip.
Federal civilian employees and military personnel have several options to withdraw from their Thrift Savings Plan. Learn more in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how important beneficiary designations are to passing your wealth.
Small-business owners can offer employees a SIMPLE IRA to save for retirement. It’s really simple! We explain in this week’s Business Tip.
State laws require you to have car insurance. We explain your liability coverage portion in this week’s Insurance Tip.
If you are an adoptive parent or are planning to adopt a child, you may qualify for a substantial income-tax credit. We explain in this weeks Tax Tip.
While some may roll their eyes at Millennials, the truth is that economics and demographics of young adulthood have changed. Read all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains dollar cost averaging money into a bull market.
While calculating the home office deduction has become easier, the qualifications are still pretty stringent. Read all about it in this week’s Business Tip.
Would you know what to do, financially speaking, if you became disabled? We explain the main points in this week’s Insurance Tip.
There are several federal tax benefits available to make homeownership more affordable and less expensive. Learn more in this week’s Tax Tip.
Your wedding will likely be the priciest party you’ll have in your lifetime. Buckle down and look at the numbers! We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how a reverse mortgage can affect your long-term care options.
Planning on writing off that business convention trip to London? Before you do, know what is deductible. We explain in this week’s Business Tip.
Too late or too expensive to buy long-term care? There are alternatives that may be worth considering. Learn more in this week’s Insurance Tip.
It’s true: Personal finance is all about the numbers. Read all about the four numbers you need to pay attention to in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains why you may not want to make extra mortgage payments with your money.
A buy-sell agreement in place may allow business partners to avoid the often ugly reality of business separation.
Different types of insurance cover a variety of risks. You can insure your life, your health, your home and more. Learn the basics in this week’s Insurance Tip.
You should have just enough taxes withheld to prevent you from incurring penalties when your tax return is due. We explain in this week’s Tax Tip.
We’re all ready to quit getting up at 6 a.m. to go to work, but are you financially ready to retire? Read the questions to ask yourself in this week’s Financial Tip.
Even as a business owner, broadly diversifying your assets may help protect against risk. Read all about it in this week’s Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains a tax-saving tip for highly appreciated company stock in your 401(k).
ERISA rules protect the interests of retirement plan participants. Do you know your plan’s fiduciary is? Learn more in this week’s Business Tip.
Did you know the condition, location and age of the home you buy affects your insurance premiums? Learn more in this week’s Insurance Tip.
What went on with your investment during the year? You need to know because it determines how it is taxed. Learn more in this week’s Tax Tip.
John Dickson, C.P.A., CVA, confirms that no matter how good your business idea, you still need a solid financial plan.
If you’re becoming a parent, you need to consider your budget, insurance coverage, estate plan and more! Learn more in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains alternative investments average investors may consider.
Bags Packed? Before you head out, you need to know how your health insurance works out of state or out of country. Learn more in this week’s Insurance Tip.
Uber’s 1099-Ks reflect the total amount charged—not what the driver pockets, creating tax reporting issues. We explain in this week’s Business Tip.
It’s not just for kids! You too can use the American Opportunity Tax Credit and the Lifetime Learning Credit. Learn how in this week’s Tax Tip.
If you’re in the 35% of workers who still have a pension, think carefully before accepting a lump sum payout. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how simple mistakes in your Will can create headaches for your heirs.
Do you have income that is not subject to withholding taxes? You too must make estimated tax payments. Read all about it in this week’s Business Tip.
You don’t have to bear the risk of financial loss alone. Insurance is all about risk and financial protection. We explain in this week’s Insurance Tip.
When crowdfunding, the money raised may be taxable depending upon the purpose of the fundraising campaign. Read more in this week’s Tax Tip.
Check with your child’s school about different payment options. You may be able to pay from cash flow. Learn more in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how the cornerstone of your financial plan determines your retirement.
You know that QuickBooks saves a lot of time. But have you explored how it does so by memorizing transactions? We explain in this QuickBooks Tip.
Anyone with significant assets might need protection from the devastating effects of a liability lawsuit. We explain in this week’s Insurance Tip.
Marrying someone with children? Surprisingly, this will affect your tax situation! We explain in this week’s Tax Tip.
Probate is a court-supervised process that winds up your financial affairs after your death. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why communication is important among you financial experts.
Startups cost money to get the business going. Lucky for entrepreneurs, there are ways to save! Learn more in this week’s Business Tip.
Medigap policies are designed to cover costs not paid by Medicare, but do you need it? Not all do. Learn more in this week’s Insurance Tip.
Fraudsters will tug on your heartstrings, soliciting on behalf of bogus charities. Check before you donate. Read more in this week’s Tax Tip.
If you’re one of the 70% of taxpayers receiving a refund, we have some tips to make your refund twice as valuable. Learn more in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, takes a closer look at owning investment property and owning shares of a REIT.
Owner-operator truckers have a tax situation necessitating special reporting requirements in addition to tax returns. We explain in this week’s Business Tip.
In 2017, small employers have the option of offering a “qualified small-employer Health Reimbursement Arrangement.” Learn more in this week’s Insurance Tip.
If you have financial authority over any foreign financial account you must file FinCEN Form 114 by April 18, 2017. Learn more in this week’s Tax Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how a QTIP trust can be used to keep assets in the family bloodline. Read the Article
If you are a licensed childcare provider, you have a special way to calculate the business use of your home. We explain in this week’s Business Tip.
Taxes are due April 18th—and it’s approaching fast! Learn what other IRS deadlines happen on April 18th in this week’s Tax Tip.
There comes a time when you must transition from saving for retirement to spending in retirement. Learn the steps in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, highlights the home office deduction for those who work from home. Read the Article
QuickBooks allows you to set up users so your employees only have access to areas they need. We explain in this QuickBooks Tip.
You need to plan to minimize the possibility of financial losses that your loved ones could suffer if you were to die. Learn more in this week’s Insurance Tip.
Keep tabs on your tax refund with the IRS’ “Where’s My Refund?” tool. Learn more in this week’s Tax Tip.
While most spring cleaning is focused on your home, take the time to evaluate and clean up your personal finances too! Learn what to do in this week’s Financial Tip.
Henssler Financial places in top 75 Small Workplaces in 2017 Top Workplaces contest by Atlanta Journal Constitution and Workplace Dynamics.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains the benefit of having tax diversified retirement assets. Read the Article
Businesses shouldn’t overlook deducting parking and tolls, and state and local property taxes paid for business vehicles. Read more in this week’s Business Tip.
House Republicans have revealed their replacement for the Affordable Care Act. Read highlights of the proposed changes in this week’s Insurance Tip.
Antsy to get your hands on your tax refund? Opt for direct deposit to receive it faster. Read all about it in this week’s Tax Tip.
A spending plan puts you in charge of how your money is being spent and gives you a sense of control. We explain in this week’s Financial Tip.
There’s no magic solution to ensure a successful business. We explain some of the common reasons that small businesses fail in this week’s Business Tip.
Many issues can affect your MAGI, which, in turn, can reduce or eliminate financial assistance for health insurance. Read more in this week’s Insurance Tip.
You’re probably aware of the dependent tax exemption, but there are many other tax breaks for parents. Read all about them in this week’s Tax Tip.
You can make an impact by investing in companies with ethical and/or sustainable business practices. Learn all about them in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why you should let your adviser know about all of your investments. Read the Article
If you use a single ratio to value a business, like Price-to-Revenue, you may overlook several key value factors. We explain in this week’s Business Tip.
Storms on the horizon? Make sure your homeowners and auto insurance coverage is sufficient. Learn more in this week’s Insurance Tip.
There are several ways you to take penalty-free withdrawals from your 401(k) before age 59½. We explain in this week’s Tax Tip.
Still want to contribute to your IRA for 2016? You have until April 18, 2017 to do so. Read all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal: Companies can use SERPs to provide benefits over and above an executive’s compensation package. Read the Article
QuickBooks Online’s custom fields and classes help you shape it to meet the specific needs of your business. Learn how in this week’s Business Tip.
Congratulations! Kennesaw State’s SMIF team takes top honors in the CFA institute Research Challenge Southern Classic! Four of the team members served as interns in Henssler’s Research Department. Read the Article
There are several reasons insurance companies may attempt to deny paying a claim for the death benefit. We explain some in this week’s Insurance Tip.
Confused about different types of student loans? We break it down in an easy comparison chart! Learn more in this week’s Financial Tip.
Don’t be a victim of unscrupulous predators this tax season. Learn how to detect a scam in this week’s Tax Tip.
Consider tackling your organization’s philanthropic endeavors in a manner similar to your business plan. Learn more in this week’s Business Tip.
You’ll want to start pulling things together! The filing deadline for most individuals is Tuesday, April 18, 2017. Read all about it in this week’s Tax Tip.
Your change in marital status can also alter the benefits you receive from your employer. We explain in this week’s Financial Tip.
As a business owner, understanding the tax advantages of each business type is imperative. We explain in this week’s Business Tip.
Statistics show that fewer than 30% of Americans older than 50 have taken steps to address their long-term care risk. We explain what to do in this week’s Insurance Tip.
If you leave your employer, you can roll over your 401(k). How you do it may have tax consequences. We explain in this week’s Financial Tip.
Did you miss the 60-day rollover deadline for your IRA due to extenuating circumstances? All hope is not lost. Read all about it in this week’s Tax Tip.
Tax changes made in Dec. 2015 can greatly affect business’ tax returns for 2016! Read all about them in this week’s Business Tip.
Disability insurance policies can be tailored to your needs. Learn about options and riders to customize your policy in this week’s Insurance Tip.
Cybercrime poses a real threat to your finances. Know where you’re vulnerable and how to protect yourself in this week’s Financial Tip.
Standard mileage rates decreased for 2017, but taxpayers always have the option of calculating the actual costs. Learn more in this week’s Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how nothing should be considered a set-and-forget investment — especially a 401(k). Read the article.
Your landlord’s insurance doesn’t cover your stuff. So how much renters insurance do you need? We explain in this week’s Insurance Tip.
At some point, you may lack the capacity to make health-care decisions. Planning ahead with advance medical directives can help ensure your wishes are followed. Learn more about these directives and how to decide if they’re right for you.
Self-employed? You’ll want to be aware of the specific tax rules and opportunities that apply to you. Learn more in this week’s Tax Tip.
Cutting your costs starts with finding out where and when your spending occurs. Read what to do in this week’s Financial Tip.
Business owners can save time with repeating transactions in QuickBooks to ensure they are processed as scheduled. Read all about it in this special QuickBooks Tip.
Long-term care insurance can protect your assets should you have to pay for skilled custodial care. Learn more in this week’s Insurance Tip.
No one wants to pay a penalty. Taxpayers should be aware of what mistakes may incur a penalty with the IRS. Learn more in this week’s Tax Tip.
If you’re interested in helping your grandchild attend college, there are tax advantageous ways to help. We explain in this week’s Financial Tip.
To combat tax filing fraud, the IRS will delay refunds that claim certain tax credits. Read all about it in this week’s Business Tip.
Small businesses who don’t comply with the Affordable Care Act may be able to avoid penalties with HRAs. We explain in this week’s Insurance Tip.
Social Security (SS) benefits will receive a COLA increase of 0.3% in 2017—about $4 per recipient. Learn what this means in this week’s Tax Tip.
If you don’t have the money to send our child to college, it’s time to learn about financial aid. We explain the basics in this week’s Financial Tip.
Thinking of starting a business? Assemble your financial team and answer these tough questions first. Read all about it in this week’s Business Tip.
Thinking of tapping the equity in your home to pay for your child’s tuition? Know the facts first! We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal Bil Lako, CFP®, addresses concerns about investing in fixed income and the loss purchasing power because of inflation. Read the Article
Resolving to increase your business profits in 2017? We offer 10 tips that may help in this week’s Business Tip.
Being a single parent is difficult. The IRS has some tax benefits that may be beneficial for your household. Read all about them in this week’s Tax Tip.
Mutual funds have an inherent lack of tax efficiency. A better approach for some may be a separately managed account. We explain in this week’s Financial Tip.
Business owners: Reminder about the new January 31 deadline for submitting Forms W-2 and certain Forms 1099-MISC. Read more in this week’s Business Tip.
When determining Medicaid eligibility, assets and funds that are exempt are not exempt from recovery proceedings. We explain in this week’s Insurance Tip.
Before you convert your home to a rental, be aware of the tax implications regarding capital gains and deductions. Learn more in this week’s Tax Tip.
Retirement planning is not an exact science. Your specific needs depend on your goals and many other factors. We explain in this week’s Financial Tip.
When replacing a business vehicle, it makes a difference tax-wise if you sell or trade it in for the replacement. Read all about it in this week’s Business Tip.
If you invest in stocks, you may have an opportunity for tax savings before year-end. We explain in this week’s Tax Tip.
You read about GDP all the time, but do you know what gross domestic product is and how it’s calculated? We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains the main benefits of investing in mutual funds: diversification. Read the Article
If the standard deduction for taxpayers increases in 2017, there is a way you can benefit in 2016. Learn more in this special Tax Tip.
We can help you maximize your charitable donations to benefit both you and the charity under current tax laws. Learn how in this special Financial Tip.
Business owners: Consider acquiring machinery and equipment before year-end for major tax savings. We explain in this week’s Business Tip.
There are numerous steps that can be taken before January 1st to save a considerable amount of tax. Learn more in this week’s Tax Tip.
Tis the season for giving. When giving charitable donations, we have six tips to make your dollars go further in this week’s Financial Tip.
Tax deductions are an added benefit to those who make meaningful charitable gifts. We explain in today’s Marietta Daily Journal. Read the Article
Ever go cross-eyed when looking at an income statement? We help you decipher it in this week’s Business Tip.
Medicare premiums will increase in 2017, but about 70% of Medicare beneficiaries will only see a nominal increase. Learn more in this week’s Insurance Tip.
If you have to help your parents manage their finances in the future, first you’ll need the legal authority to do so. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why you should stay the course, given the uncertainty ahead. Read the Article
Help your employees save for the future. Consider auto enrolling them in your 401(k) plan. We explain in this week’s Business Tip.
Some of our basic habits may leave us vulnerable to ID theft and scams. Learn what you can change in this special Insurance Tip.
It’s best to know the rules for gifting, otherwise you may end up making a gift of taxes to the IRS. We explain in this week’s Tax Tip.
Baby boomers who are behind in their retirement savings can grow their nest eggs with catch-up contributions. Learn more in this week’s Financial Tip.
The financial firm’s staff participated in the Center for Family Resources’ annual Thanks for Giving food drive.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why deferring income and accelerating deductions means more this year. Read the Article
If the full amount of a required minimum distribution isn’t taken, the penalty is 50% of the amount you didn’t withdraw. Read all about it in this week’s Tax Tip.
Dementia affects more than 2.4 million Americans. Memory loss should be considered when planning for retirement. Learn more in this week’s Financial Tip.
At 701/2 , investors may be in a position of having more income than their spending. We explain what to do in this week’s Marietta Daily Journal. Read the Article
Businesses can take advantage of liberal expensing limits under Sec. 179 and bonus depreciation for new equipment. Read all about it in this week’s Business Tip.
Caring for an aging parent is more than making sure they don’t fall. Use our checklist covering seven key areas in this week’s Insurance Tip.
High-income earners can still fund a Roth IRA because there are no income limits for traditional IRA conversions. We explain in this week’s Tax Tip.
For 2017, income limits increased for determining traditional IRA deductible contributions and Roth IRA eligibility. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal: When dipping into principal, take from the portion that is protected from market fluctuations. Read the Article
There are more pleasant accounting tasks than paying bills, but QuickBooks Online organizes and simplifies this critical chore. We explain in this special QuickBooks Tip.
If you’re charitably inclined, you can use life insurance to benefit your favorite non-profit. Read all about it in this week’s Insurance Tip.
Make a few bucks on the side doing what you love? The tax treatment of hobbies is quite different than a business. We explain in this week’s Tax Tip.
Saving for retirement is key, but should you save pretax or after-tax dollars? We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains the risks to tax loss harvesting and why you need an expert’s help. Read the Article
Businesses have until Dec. 31 to adopt the de minimis expense election. Learn more in this week’s Business Tip.
In 2017, seniors will only be able to allow a medical expense deduction that exceeds 10% of their AGI. Read all about it in this week’s Insurance Tip.
Looking for a new car? You still may be able to take advantage of the electrical vehicle credit worth as much as $7,500. Learn more in this week’s Tax Tip.
Just as you see your doctor yearly, think of a year-end review as an annual physical for your money. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains Medicare and the current open enrollment season. Read the Article
There are substantial penalties if you fail to file a correct 1099-MISC for independent contractors by the due date. We explain in this week’s Business Tip.
Medicare Open Enrollment Period is Oct. 15 through Dec. 7. Learn what you can change and what to consider in this week’s Insurance Tip.
The status of your non-U.S. citizen spouse dictates how you are taxed. Learn more in this week’s Tax Tip.
Wills and trusts allow you to distribute your assets at death, but there are differences between these documents. We explain in this week’s Financial Tip.
Today’s Marietta Daily Journal: Bil Lako CFP® explains while life insurance needs decrease with time, investors may still want it. Read the Article
One way to reward your employees is to provide a benefit package with both traditional and not-so-traditional benefits. Read all about it in this week’s Business Tip.
Only the income and assets that are legally available to you are considered when determining Medicaid eligibility. Read more in this week’s Insurance Tip.
It is complicated to determine when you may be subject to the alternative minimum tax. Learn some common triggers in this week’s Tax Tip.
Earnings are just one factor to consider when evaluating a company’s outlook. Learn more about financial reports. Learn more in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® highlights the importance of understanding your RMDs. Read the Article
Make a good impression on your customers by sending them well-designed sales forms. We explain how QuickBooks Online helps you create them in this QuickBooks Tip.
What do Baby Boomers, Gen Xers and Millennials have in common? Concerns about their financial situations. Read all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how you can protect your assets from risks you incur in your everyday life. Read the Article
As a business owner, you’re an expert in your industry. Learn 9 tips to help you manage behind the scenes in this week’s Business Tip.
Planning an indirect rollover and missed the 60-day deadline? The IRS allows 11 exceptions that may help you. We explain in this week’s Tax Tip.
Breaking real estate out of the Financials sector acknowledges that the industry’s business models and ties to underlying property markets produce a distinctive risk-return profile, including a relatively low correlation to the rest of the stock market. Learn more in this week’s Financial Tip.
In today’s Marietta Daily Journal: Investors who rely on industry standards miss out on advice tailored to their circumstances. Read the Article
A family limited partnership can be a powerful estate planning tool for business owners. We explain in this week’s Business Tip.
Retiring early? You need to consider your health care coverage options until you’re eligible for Medicare. Learn more in this week’s Insurance Tip.
It may not even be Halloween yet, but it’s time to think about your year-end tax moves. Read all about it in this week’s Tax Tip.
Companies report earnings every quarter. Learn how to interpret the reported news in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why who the president of the United States is has little to do with the performance of your portfolio.
One way business owners can reward key employees is by offering a nonqualified executive bonus plan. Read all about it in this week’s Business Tip.
Paying PMI on your mortgage? Good news is it won’t last forever. We explain in this week’s Insurance Tip.
If you’re headed back to college this fall, be sure to learn about the tax breaks that can help defray the cost. Learn more in this week’s Tax Tip.
If you’re the beneficiary of an IRA, you need to be aware of the special rules concerning RMDs. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains you can delay paying taxes but you can’t avoid them altogether. Read the Article
Accounting mistakes can trip up the best business owner. Learn the top four mistakes and how to avoid them in this week’s Business Tip.
It’s possible to trigger an unexpected taxable event when dealing with annuities. We explain in this week’s Insurance Tip.
Not all charitable gifts are the same—different types require different documentation for a tax deduction. Learn more in this week’s Tax Tip.
If your grandchild worked over the summer, consider funding an IRA for them. Read all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how you can’t invest by following rhyming couplets. Read the Article
Not all start-up business expenses are deductible in the first year. We offer first-year deduction strategies in this week’s Business Tip.
A group disability insurance policy can be an affordable solution to your need for income protection. We explain in this week’s Insurance Tip.
Don’t file your taxes because your income is below the threshold? The IRS knows all about you and what you earn. Read all about it in this week’s Tax Tip.
Bang for your Buck: Consider the range and quality of facilities and services a continued care community offers. Read all about in this week’s Financial Tip.
If your partnership treats you as an employee so you receive employee benefits, the IRS is putting a stop to it. Learn more in this week’s Business Tip.
Not offering affordable health coverage to your employees? Your business better fall in the under-50 category! We explain in this week’s Insurance Tip.
If you’re involved in a lawsuit with your employer, your settlement may be taxable. Read all about it in this week’s Tax Tip.
Student loans are a part of life for many people. Understanding them is essential. Read answers to common questions in this week’s Financial Tip.
In the past decade, networks supporting small businesses have seen a lot of innovation for acquiring needed resources. Read all about them in this week’s Business Tip.
The Games are over, and the Olympians are on their way home. Next to their fans, the IRS is awaiting their return. We explain in this Tax Tip.
Assets in an ABLE account for a disabled person are generally not subject to income tax, but there are some exceptions. We explain in this week’s Tax Tip.
At 20, you have 40+ years in the workforce ahead of you. This is great news for your retirement savings. Learn more in this week’s Financial Tip.
Today’s Marietta Daily Journal: Bil Lako, CFP® discusses Georgia’s HOPE scholarship and other ways to keep college costs in check. Read the Article
Business trip to Paris? Sure! Weekend stay? Why not! Can your spouse tag along? Perhaps! Is it tax deductible? We explain in this week’s Business Tip.
When planning long-term care, there are many things to consider. Use this week’s Insurance Tip checklist to help organize your information.
Henssler Financial is proud to announce that Jarrett McKenzie, CFP®, CWS®, has been promoted to Senior Associate after demonstrating remarkable initiative in providing individualized attention to clients using a hands-on approach to financial management.
If your modified adjusted gross income exceeds the thresholds, the net investment income tax applies. Learn more in this week’s Tax Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains your options when you have your future tied up in an illiquid asset. Read the Article
The success or failure of your business depends on your initial planning. Read about nine factors to consider when planning in this week’s Business Tip.
The estate of the decedent may elect to pass any unused lifetime exclusion to the surviving spouse. Read more in this week’s Tax Tip.
Comparing insurance policies may make your eyes glaze over, but all policies share certain common elements. Learn more in this week’s Insurance Tip.
Federal student loans issued July 1, 2016, through June 30, 2017 will enjoy a lower interest rate. Read more in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains some of the benefits to the FAFSA’s new prior-prior income rule. Read the Article
There are a number of tax-favored fringe benefits companies may offer to both regular and highly paid employees. Read all about it in this week’s Business Tip.
Annuity riders are optional features that provide added benefits to a basic annuity contract. Learn all about them in this week’s Insurance Tip.
Think the markets are crazy? First understand investor behavior can be influenced by emotions such as greed and fear. We explain in this week’s Financial Tip.
If you have independent contractors, keep up to date on how the Tax Court rules in cases the IRS brings. Read all about it in this week’s Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how a highly appreciated stock position, can create both a tax and estate planning issue. Read the Article.
When leasing a car, you may need more insurance to cover your loss if the vehicle is totaled or stolen. Read all about it in this week’s Insurance Tip.
Rent your home via Airbnb, VBRO or HomeAway? Some special tax rules may apply to you! We explain in this week’s Tax Tip.
A Roth 401(k) option offers investors a unique opportunity to tax diversify retirement savings. We answer popular questions in this week’s Financial Tip.
If you own a business, you may consider hiring your minor children to provide extra help and save on taxes. We explain in this week’s Business Tip.
In today’s Marietta Daily Journal: Bil Lako, CFP®, explains how complicated calculating the gain on your home can be. Read the Article.
Looking for benefits to offer your employees? Consider offering life insurance. Learn more in this week’s Insurance Tip.
Before you agree to supply your power via solar panels, understand the nuances of the federal solar tax credit. Read more in this week’s Tax Tip.
How have the year’s events affected your portfolio? Do a mid-year investment check considering these three points. We explain in this week’s Financial Tip.
Today’s Marietta Daily Journal: Bil Lako, CFP® explains how business interruption coverage can help a business survive a disaster. Read the Article
Business credit life insurance can guarantee repayment of business loans through a life insurance policy on your life. We explain in this week’s Business Tip.
If you were offered “affordable” health insurance at work, you cannot get subsidized insurance through the Marketplace. Learn more in this week’s Insurance Tip.
Are the kids struggling with summer boredom? Sending your children to day camp can have tax benefits. Read all about it in this week’s Tax Tip.
Retiring sounds easy, but have you considered how changes in your income sources affect your standard of living? Read more in this week’s Financial Tip.
In this week’s Marietta Daily Journal, Bil Lako, CFP® explains why fixed income investments should be in your IRA—not your 401(k). Read the Article
Businesses can use life insurance to fund a qualified retirement plan, but there are limitations. Read all about it in this week’s Business Tip.
If you have more than one vehicle, it is important to know what your personal auto policy covers. We explain in this week’s Insurance Tip.
There are taxes even in death. If you have no estate tax provision in your Will, state laws intervene. Learn more in this week’s Tax Tip.
Scary Fact: 41% of households headed by someone aged 55 to 64 had no retirement savings. Learn the steps you should take now in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how simplicity in your finances can provide you with more flexibility. Read the Article
Corporations can use corporate-owned life insurance policies to fund nonqualified deferred compensation plans. Learn more in this week’s Business Tip.
Your financial adviser should not only manage your portfolio for investment returns, but for tax efficiency as well. While tax loss harvesting is often considered at the end of the year, this classic strategy can and should be used by advisers throughout the year to help control their clients’ tax liability. By working closely with our clients and their tax advisers, our experts are able to keep in mind other income that could be offset by tax loss selling.
If you are disabled and unable to work, you may be eligible for a government-sponsored disability insurance program. Learn more in this week’s Insurance Tip.
Your cash tips are subject to income, Medicare and Social Security taxes, so they’re a frequent audit item by the IRS. We explain in this week’s Tax Tip.
New rules offer students more protection when excess financial aid is added to a prepaid college debit or credit card. We explain in this week’s Financial Tip.
In today’s @MDJOnline, Bil Lako, CFP® covers spending retirement assets vs. leaving an inheritance for your children. Read the Article
Employers may consider a death benefit only life insurance plan as a benefit for highly compensated employees. Read more in this week’s Business Tip.
There are several types of insurance policies that cover different kinds of assisted living care. We discuss in this week’s Insurance Tip.
Teachers may be able to deduct more than $250 in classroom supplies on their taxes. We explain in this week’s Tax Tip.
Do you know why you overspend? We look at for common reasons people can’t stick to their budget in this week’s Financial Tip.
Only able to save a limited amount for education and retirement? We discuss why you might want to consider a Roth IRA in today’s Marietta Daily Journal. Read the Article
As a business owner, compensating yourself can be complicated as the IRS is very interested in what you do! Learn more in this week’s Business Tip.
Sure, Roth IRA conversions sound like a great idea, but you have to carefully consider the tax consequences first. Read all about it in this week’s Tax Tip.
“Good, in theory…” Financial guidelines can be difficult to put into practice. We offer some insight on how to do so in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako CFP® explains why building a credit history is important for Millennials. Read the Article
What are your options for business funding? Surprisingly, there are more options than just a bank loan. We explain in this week’s Business Tip.
Group term life insurance may be a benefit your employer offers. Learn some of the basics of this benefit in this week’s Insurance Tip.
If you donate use of your time-share property to a charity, your allowable tax deduction may be less than you think. Read all about it in this week’s Tax Tip.
Do you want to lease or buy a vehicle? We compare eight key points to consider in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains the how and why of your investments with your expenses 10 years prior. Read the Article
At 26 you’re no longer covered on your parents’ health care plans. Learn your options to obtain coverage on your own in this week’s Insurance Tip.
Overlook something on your tax return? You can easily amend your return and possibly avoid any IRS correspondence. Read all about it in this week’s Tax Tip.
Employers are eligible for the work opportunity tax credit through 2019 for hiring individuals from targeted groups. Learn what they are in this week’s Business Tip.
Once you reach an age where life insurance isn’t a priority, you have options other than abandoning the policy. We explain in this week’s Insurance Tip.
If you are a beneficiary of an estate, don’t overlook the income in respect of a decedent tax deduction. Learn more in this week’s Tax Tip.
Thieves have claimed more than $30 billion in fraudulent tax refunds. Bil Lako, CFP®, explains in today’s Marietta Daily Journal. Read the Article
When you want to retire from being a business owner, you will have to sell or give away your business interest. We explain in this week’s Business Tip.
If you own a condo, know what your homeowners insurance policy covers vs. the condo association’s master policy covers. We explain in this week’s Insurance Tip.
Alimony payments are usually taxable for the recipient and deductible for the payer. Learn more in this week’s Tax Tip.
In the last year, more workers said they’re “very confident” they will have a comfortable retirement. Learn more in this week’s Financial Tip.
Don’t believe just because you were auto enrolled in your 401(k) that it is set-it-and-forget-it. Bil Lako, CFP® explains in today’s Marietta Daily Journal. Read the Article.
The PATH Act extended bonus depreciation and made the Section 179 deduction’s higher expensing amount permanent. Read more in this week’s Business Tip.
If you receive Medicaid waiver payments for caring for an individual, these payments may not be taxable as income. Learn more in this week’s Insurance Tip.
Outsized refund or huge tax bill? Adjusting your W-4 may help eliminate surprises next tax season. We explain in this week’s Tax Tip.
If retirement is near, you may want to focus on your retirement budget, sources of income and paying down debt. Learn more in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains the drawbacks to giving away assets to qualify for Medicaid. Read the Article
Selling a business interest can yield a gain or loss, but the tax treatment varies depending on the business entity. Learn more in this week’s Business Tip.
Your homeowners policy may cover your possessions that are outside of your home. We explain in this week’s Insurance Tip.
For members of the U.S. Armed Forces, not all of your pay may be subject to income tax. Read more in this week’s Tax Tip.
Financially speaking, you and your grandchildren have more in common than you think. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains mapping out your liquidity needs for retirement. Read the article.
Health care coverage is a great employee benefit, and employers have choices in what they offer. We explain in this week’s Business Tip.
Long-term care is generally defined by three different levels. Learn more in this week’s Insurance Tip.
Capital gains and losses don’t just apply to stocks. The rules also vary depending on the type of property the asset is. Read all about it in this week’s Tax Tip.
DOL issues new rule for financial professionals if advice provided relates to retirement plans or IRAs. Read more in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how longevity risk can be managed with asset allocation. Read the Article
Just finished your business’s books for 2015? You have up to the due date of your business tax return to establish a SEP. Learn more in this week’s Business Tip.
Not coordinating your life insurance policy’s ownership & beneficiary designations, may nullify its purpose. Read more in this week’s Insurance Tip.
Does the federal funds rate affect your borrowing rate? You may be surprised. We explain in this week’s Financial Tip.
Investors who have annuity contracts with capital gains are in a sweet spot to take advantage of a 1035 exchange. We explain in today’s Marietta Daily Journal. Read the Article
The penalty for not having health insurance is the GREATER of two calculation methods. Learn more in this week’s Insurance Tip.
It’s in your best interest to make arrangements to pay the IRS what you owe—even if you cannot afford it. We explain in this week’s special Tax Tip.
An extension will move your tax filing date to Oct. 17, 2016, but it does not extend your time to pay! We explain in this Tax Tip.
Things are changing in the world of higher education. Get the skinny on costs, debt and FAFSA deadlines in this week’s Financial Tip.
While the IRS allows you to deduct business startup costs, there are limits to what you can deduct in your first year. We explain in this week’s Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® highlights the benefits of Roth 401(k) contributions. Read the Article
Can you deduct your home office, computer or your uniform? As with all things tax, it depends. We explain in this Special Tax Tip.
Failure to file a return or filing late can be costly. If you owe, a delay may result in penalty and interest charges. Learn more in this special Tax Tip.
The April 18, 2016 tax filing deadline is for much more than your 1040. Check out the other deadlines that day in this week’s Tax Tip.
Henssler Financial named to the Atlanta Journal Constitution’s 2016 Top Workplaces list.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how long your IRA can last with different beneficiaries. Read the Article
When selling a business, you need to know the difference between an asset sale and a stock sale. We explain in this week’s Business Tip.
Tornado hit your house? You may be able to claim a casualty loss deduction on your federal income tax return. We explain in this week’s Insurance Tip.
When donating goods, the fair market value you claim can be challenged, and the burden of proof is with you. Learn more in this week’s Tax Tip.
Planning to roll over your 401(k) to an IRA? We explain six potential pitfalls to watch out for in this week’s Financial Tip.
If withdrawals are not taken from an inherited IRA in a timely manner, the funds could be subject to a 50% penalty tax. We explain in today’s Marietta Daily Journal. Read the Article
Another tax form? Yep. Applicable large employers have to file a 1095-C to report health coverage offered to employees. Learn more in this week’s Business Tip.
You’ve been putting off shopping for auto insurance. It’s not that hard. We offer some guidelines to make it easier in this week’s Insurance Tip.
If you’re fortunate enough to not need money from your RMD, you can donate it directly to a charity. Read all about it in this week’s Tax Tip.
You might make a lot of money, but the cost of living where you live affects how far your money goes. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explores accessing retirement funds through substantially equal periodic payments. Read the Article
Deducting business expenses is more complicated than it seems. Learn what is deductible in this week’s Business Tip.
The length of your waiting period affects the cost of your disability insurance premium. Read more in this week’s Insurance Tip.
Not all those hired to work in a taxpayer’s home are considered household employees. We explain in this week’s Tax Tip.
Tax season brings many things: shoeboxes of receipts, checkbooks, refunds, and unfortunately scammers and identity thieves. It’s not just the phony IRS emails either. This year the Georgia Department of Revenue has been flooded with phone calls regarding calls they didn’t make to many taxpayers. This article from the Atlanta Business Chronicle explains the latest…
If federal loans don’t cover the cost of college, many borrowers look to private student loans. Read all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal: How you take your pension benefit affects how much you’ll receive in the long term. Read the Article
Certain strategies you use to minimize your payroll taxes may also affect your income taxes. Read more in this week’s Business Tip.
Your life insurance policy may be a valuable resource for you and your family if you’re faced with a terminal illness. We explain in this week’s Insurance Tip.
Deductible mortgage interest is limited to interest on acquisition debt and equity debt interest up to certain limits. Learn more in this week’s Tax Tip.
Want to save a million dollars for retirement? It’s possible with time. Learn how in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® highlights some considerations when going back to school as an adult. Read the Article
Just because your business is small does not mean it is not a target for cyber attacks. We explain in this week’s Business Tip.
You can request PMI cancellation directly from your lender when your mortgage balance is 80% of the original home value. Learn more in this week’s Insurance Tip.
ABLE accounts allow disabled people to have up to $100,000 without jeopardizing their Medicaid benefits. Learn more in this week’s Tax Tip.
Congress closed some unintended loopholes regarding claiming Social Security benefits. Read all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, highlights options for insuring your home business. Read the Article
As a large employer, you may be subject to the employer shared responsibility provisions under the ACA. Learn more in this week’s Business Tip.
If the financial benefit and peace of mind outweigh the premium cost, travel insurance may be for you. Learn more in this week’s Insurance Tip.
Can’t wait to get on the road again? Before you leave for business, learn the 2016 mileage rates used for deductions. Read all about it in this week’s Tax Tip.
It’s not too late to make an IRA contribution for 2015. Better still, it may be tax deductible! Learn more in this week’s Financial Tip.
Is it time to replace your business vehicle? Consider the tax ramifications when you decide what to do with the old one. We explain in this week’s Business Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, highlights salaries and dividends for S Corp owners. Read the Article
Health insurance premiums are some of the largest expenses individuals pay, but for some, they may be tax deductible. Learn more in this week’s Insurance Tip.
One of the biggest mistakes you can make is not filing your return because you owe money. Read all about it in this week’s Tax Tip.
You can delay your first required minimum distribution, but then you will have to take two distributions that year. We explain in this week’s Financial Tip.
You can delay your first #RMD, but then you will have to take 2 distributions the next year.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how to save for retirement if an employer plan is not available. Read the Article
Large employers who offer insurance coverage to employees also have additional tax forms to file. Read all about it in this week’s Business Tip.
Don’t think you can forget about your life insurance. Policies that were once a perfect fit may no longer suit your needs. Read more in this week’s Insurance Tip.
Going green may earn you a tax break. Some of the Homeowner Energy Tax Credits have been extended through 2016. Read all about it in this week’s Tax Tip.
If you’re approached with an early retirement package, carefully review it to ensure it is indeed a good offer. We explain what to look for in this week’s Financial Tip.
Executive bonus plans often employ life insurance, but policies have to be structured properly and managed prudently. We explain in this week’s Marietta Daily Journal. Read the Article
A family limited partnership or family limited liability company can help transfer your business to the next generation. Read all about it in this week’s Business Tip.
Life insurance can be used to protect child support and alimony payments after divorce. Learn more in this week’s Insurance Tip.
You can’t time the market, but you can time a Roth IRA conversion to save on the taxes due. We explain in this week’s Tax Tip.
You may not own all the assets in your 401(k) if you’re subject to vesting. Learn more about vesting in this week’s Financial Tip.
Couples should make sure that their 401(k)s don’t overlap, creating a portfolio heavily weighted in one asset class. We explain in today’s Marietta Daily Journal. Read the Article
Did you know most natural disasters happen in the first six months of the year? Learn how to protect your business in this week’s Business Tip.
Your household income is a key factor in determining if you are qualified for an insurance subsidy. Learn more in this week’s Insurance Tip.
Your tax refund can be taken to pay debts that are past due. Learn which debts this applies to in this week’s Tax Tip.
Congress changed the rules for File and Suspend and Restricted Application for Social Security Benefits. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains that while the markets are down, it is more important to look long-term. Read the Article
As an tax-exempt organization, you can offer an employer-sponsored retirement plans, but note the regulatory differences. We explain in this week’s Business Tip.
HMO, PPO, POS, EPO, and Exchanges. It can make your head spin! Learn how these health coverage providers affect you in this week’s Insurance Tip.
IRS phone and email scams have reached epidemic proportions. Learn what the IRS will and will not do in this week’s Tax Tip.
You may see the equity you have in your home is a reservoir of funds, but there are pros and cons to using it. Learn more in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains the financial realities behind some emotional money decisions. Read the Article
Corporations can offer several types of retirement plans to employees. Read our overview in this week’s Business Tip.
When a charity is the beneficiary of your life insurance policy, you’re able to give more than you otherwise could afford. Read how in this week’s Insurance Tip.
Are your legal expenses tax deductible? No surprise, it’s complicated—especially for divorces and businesses. Learn more in this week’s Tax Tip.
Planning to launch your business via crowdfunding? The Securities and Exchange Commission has an opinion on that. We explain in this week’s Financial Tip.
Planning to launch your business via crowdfunding? The Securities and Exchange Commission has an opinion on that. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal: If keeping the business in the family is a priority, succession planning requires expert help. Read the Article
Is 2016 the year you’re launching your business? We have 8 tips to help make it happen. Learn more in this week’s Business Tip.
If you want to leave your business to the child who works for you, life insurance can equalize estate distributions. We explain in this week’s Insurance Tip.
Recently married? There are several issues to consider before filing your taxes as “married filing jointly” this year. Learn more in this week’s Tax Tip.
Is your family better off with one income or two? A second-income analysis can help. We explain in this week’s Financial Tip.
Small businesses will benefit from plenty of provisions in the Protecting Americans from Tax Hikes Act of 2015.
Oftentimes we think we’re covered by insurance for specific losses when we’re not. Here are some common coverage gaps to consider when reviewing your own insurance coverage.
The “Protecting Americans from Tax Hikes Act of 2015” extended or made permanent some tax of the popular personal tax credits.
The Bipartisan Budget Act of 2015 eliminated the File and Suspend and Restricted Application for Spousal Benefits “loopholes.” Read the article in the Marietta Daily Journal.
With interest rates still at or near historic lows, you have several estate planning opportunities.
It’s that time of year when scammers pretend to be charities. Check the charity at IRS.gov before you donate. Learn more in this week’s Tax Tip.
Afraid you’ll be bored in retirement? Consider a phased retirement by slowly adjusting your work patterns. Read all about it in this week’s Financial Tip.
Review the expiring tax provisions to see how you may be affected if they are not extended. We explain in this Tax Tip.
Your children have their own careers, homes & lives. How does your financial plan need to change? We explain in today’s Marietta Daily Journal
The hard and bleak reality is that the majority of small business startups fail. Create a plan for success. We give the basics in this week’s Business Tip.
One perfect swing that resulted in a high arcing shot with a slight draw toward the pin was all it took. That single stroke netted Stephen Reich $71,000 toward the purchase of a luxury car.
If you suffered a loss as a result of a casualty, you may be able to recoup a portion of that loss via a tax deduction. We explain in this week’s Insurance Tip.
Despite Congress’ lack of action regarding tax laws, there are still plenty of tax breaks on the books for 2015. Read all about it in this week’s Tax Tip.
There will be times when you’ll need to make changes to your estate plan to ensure it still meets all of your goals. Read more in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how fixed-income investments work with your investment strategy.
Interested in being your own boss and creating positive change in the world? Consider a Certified B Corporation. Read more in this week’s Business Tip.
Your condo association’s master policy isn’t enough. You still need an HO-6 policy for comprehensive protection. We explain in this week’s Insurance Tip.
Your condo association’s master policy isn’t enough. You still need an HO-6 policy for comprehensive protection. We explain in this week’s Insurance Tip.
Businesses should consider adopting an accounting policy for expensing the cost of items with a life of a year or less. We explain in this week’s Tax Tip.
Have your dreams for retirement changed? Year-end is the perfect time to evaluate your plan. Learn what to do in this week’s Financial Tip.
When seeking an adviser for your money, it is important to consider tenure, depth and philosophy. We explain in the Marietta Daily Journal. Read the Article
In today’s Marietta Daily Journal, Bil Lako, CFP® explains why your portfolio should match your willingness and ability to take risks. Read the Article
401(k) plans that exclude participants, miss contributions or fail discrimination tests can become disqualified. Read all about it in this week’s Business Tip.
No health insurance? Note: The penalty amounts to the HIGHER of the flat dollar amount or the percentage of income. We explain in this week’s Insurance Tip.
Be aware when your leave employer—a retirement plan distribution before age 59½ comes with a penalty! We explain in this week’s Tax Tip.
As a federal civilian employee, you have the opportunity to buy back your military time to increase your pension payout. Learn more in this week’s Financial Tip.
A sole proprietorship comes with few bureaucratic hoops, but you have to contend with 100% personal liability. We explain in this week’s Business Tip.
Some Medicare premium increases are less than projected because of provisions in the Bipartisan Budget Act of 2015. We explain in this week’s Insurance Tip.
What happens when a saver loves a spender? A compromise on your future money habits is necessary. Learn more in this week’s Financial Tip.
Ready to update the kitchen? We explain what your home renovation finance options are in today’s Marietta Daily Journal. Read the Article
Need an objective, black and white measure of your business processes? Implement Key Performance Indicators. We explain in this week’s Business Tip.
During open enrollment, you’ll want to review the copayments, deductibles, and coinsurance associated with each plan. Read more in this week’s Insurance Tip.
The IRS can penalize you for underpayment during the year. But you can increase your withholding to avoid it. Learn what to do in this week’s Tax Tip.
No surprise, college costs have increased for the 2015/2016 academic year. Read all about it in this week’s Financial Tip.
Financial planning for the FAFSA can be tricky, as not all assets are treated the same in the financial aid calculation. We explain in today’s Marietta Daily Journal. Read the Article
As our parents age, their health may decline, and the greater the chance they will require some type of long-term care. Read more in this week’s Insurance Tip.
Uh-oh! What to do when family court awards physical custody of a child to one parent and the tax exemption to the other. Read all about it in this week’s Tax Tip.
Henssler Financial is pleased to announce eight of their financial planning experts were named to the Five Star Wealth Manager list in the October 2015 issue of Atlanta Magazine.
The Bipartisan Budget Act of 2015 made changes to a Social Security claiming strategy, among other provisions. Learn more in this week’s Financial Tip.
The value of a business increases when the business receives the death benefit proceeds. Read all about it in this week’s Business Tip.
Request an itemized bill from your medical provider to help deal with any medical billing issues that may arise. We explain in this week’s Insurance Tip.
You can get a tax credit on your federal tax return for installing certain power-generating systems on your home. We explain in this week’s Tax Tip.
A cost of living adjustment, or COLA, is designed to help you manage rising prices. Read all about COLA in this week’s Financial Tip.
Second marriages can bring a certain amount of financial complexity that was not likely present in a first marriage. We explain in this week’s Marietta Daily Journal. Read the Article
Unlike a corporation, a limited partnership is inexpensive and simple to create and maintain. Read more in this week’s Business Tip.
You can split a permanent life insurance policy into two portions so you can compare with other life insurance policies. Learn how in this week’s Insurance Tip.
Few people turn away a gift of money. When you give, know the tax consequences. We explain in this week’s Tax Tip.
Before year-end, consider meeting with your financial adviser to review your investments. Read why in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how life insurance can play an important role after a divorce. Read the Article
If your business venture has few active investors, you may consider using the Limited Liability company structure. We explain in this week’s Business Tip.
Remember that hand-blown glass vase you purchased at a charity auction? Only some of what you paid is deductible. Learn why in this week’s Tax Tip.
Balloon loans may come with a low interest rate, but there is a large final payment at the end of your loan term. Read all about them in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, discusses the relationship between time horizon and asset allocation. Read the Article
Your business entity can affect your liability, continuity and taxes. Today we look at professional corporations (PC). Read more in this week’s Business Tip.
If you’re considering insurance policies with flexible premiums, the equal outlay method can help you compare them. We explain in this week’s Insurance Tip.
Basis begins with the price you paid for your investment, but certain events can change it over time. We explain in this week’s Tax Tip.
Do you really know as much as you think you do about your 401(k) plan? Let’s find out in this week’s Financial Tip.
Assessing your financial position after divorce & making needed changes should help you recover from this life event. We explain in this week’s Marietta Daily Journal. Read the Article
General partnerships are pass-through entities, so partners report their share of income on their personal tax returns. We explain in this week’s Business Tip.
Learn why the cash accumulation method is a good way to compare term insurance with permanent insurance in this week’s Insurance Tip.
October 15 is approaching! That means tax deadlines for Extensions and Retroactive Business Expensing. We explain in this week’s Tax Tip.
If you converted an IRA to a Roth in 2014 and you’ve sustained a loss, all is not lost. But you only have until October 15th. Learn more in this week’s Financial Tip.
In today’s @MDJOnline, Bil Lako, CFP®, explains how a rollover as a business start-up is a risky move. Read the Article
As a sole proprietor, you can hire your spouse without having to pay FUTA taxes (federal unemployment) on their salary. Read all about it in this week’s Business Tip.
Calculate the yearly rate of return for several years for an accurate measure of a life insurance policy’s performance. We explain the Belth Yearly Rate of Return Method in this week’s Insurance Tip.
Disabled taxpayers may qualify for tax credits or benefits. We highlight several that may help you save in this week’s Tax Tip.
529 Plans are known for their flexibility for college savings. We answer some frequently asked questions in this week’s Financial Tip.
While not always a good idea, Bil Lako, CFP®, discusses taking a loan from your 401K in today’s Marietta Daily Journal. Read the Article
Different business entities have different strengths and weaknesses. In this week’s Business Tip, we examine S Corporations.
One way to compare life insurance policies is to figure the yearly price of protection. We explain in this week’s Insurance Tip.
Are your Social Security benefits taxable? It all depends on your modified adjusted gross income. Learn more in this week’s Tax Tip.
Before buying a second or vacation home, consider the costs, rental potential and tax treatment. We explain in this week’s Financial Tip.
Retiring early? We explain how planning ahead can help you avoid early withdrawal penalties in today’s Marietta Daily Journal. Read the Article
The C corporation business structure has its strengths and weaknesses. We explore them in this week’s Business Tip.
When comparing insurance policies, you have to account for the return on savings, value of the protection and tax effect. We explain in this week’s Insurance Tip.
As a business owner, do you offer employees a health reimbursement plan? Beware of what this option may cost you. We explain in this week’s Tax Tip.
Knowing the difference between nominal and real return may help you make decisions when investing your money. Learn more in this week’s Financial Tip.
During a market decline, a guaranteed annuity may sound good, but it may not be the perfect investment. Read our article in today’s Marietta Daily Journal.
The Limited Liability Partnership structure can protect you from the negligence of a partner or employees. Read all about LLPs in this week’s Business Tip.
There is more than one way to evaluate your life insurance policy. We highlight six methods in this week’s Insurance Tip.
The September 15th tax deadline for Partnerships, S-corps and Trust extensions is right around the corner! We explain in this week’s Tax Tip.
Sometimes it makes sense to take taxable distributions from retirement plans while deferring Social Security benefits. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® discusses the recent market correction and investors who sold on the down days. Read the Article
Your business entity affects your liability, management, profit sharing, continuity of life and how income is taxed. Read all about it in this week’s Business Tip.
Listen to Troy Harmon, CFA, CVA, on the September 3rd MoneyLife Show discuss the Henssler philosophy and listeners’ stock picks. Listen to the Show
No one wants to pay any more taxes than required. We explain three planning tips to reduce your tax burden in this week’s Tax Tip.
The various types of investments perform differently, depending on market conditions. Asset allocation is key! Learn more in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® says plan carefully! You cannot receive more than one tax benefit for each dollar spent on higher education. Read the article.
While the steps to start a business are relatively standard, women entrepreneurs may face unique challenges. Read all about it in this week’s Business Tip.
In the Atlanta Business Chronicle, Kennesaw State University’s Vaughn Williams talks about the University’s expanding athletic program. Read the Article
As you take on more responsibilities and your family grows, your need for life insurance increases. Learn more in this week’s Insurance Tip.
The financial advice your dad gave you more than 20 years ago is still applicable to 20-year-olds today. Read more in this week’s Financial Tip.
In today’s Marietta Daily Journal: Bil Lako, CFP®, explains ways a company can compensate employees without raising salaries. Read the Article
Following the tax rules for business travel makes deductions and reimbursements easier for all taxpayers involved. Learn more in this Business Tip.
Even if Congress doesn’t extend the IRA-to-charity provision, it’s still advantageous to direct your RMD to charity. We explain in this week’s Tax Tip.
Deciding to participate in your 401(k) is easy, but you still have to make it work for you. Start by managing risk. Learn all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal: When selecting a minor as your beneficiary, it is wise to consider placing the assets in a trust. Read the Article
Self-employed individuals have unique opportunities to lower their taxes through income splitting and shifting. We explain in this week’s Business Tip.
Don’t be surprised if a review of your life insurance shows you may need to replace or exchange your policy. Learn more in this week’s Insurance Tip.
Is reverse mortgage interest tax deductible and who can take the deduction? Find out in this week’s Tax Tip.
The latest trustee report on Social Security and Medicare shows both programs face financial challenges. Read more in this week’s Financial Tip.
When your company is forced into an unplanned liquidation, you will lose the business’s going-concern value. We explain in this week’s Business Tip.
The Affordable Care Act provides tax credits and subsidies to help reduce the cost of health insurance coverage. Learn more in this week’s Insurance Tip.
You’ve spent most of your life saving to your IRA. Don’t forget, planning is still necessary when you begin withdrawals. Read more in this week’s Tax Tip.
If your savings goal seems daunting, try focusing more on the details that help refine your plan. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal: It can be easier for your family if you have plans in place, should you become incapacitated. Read the Article
A family limited partnership can help transfer business assets to younger generations while you retain control. We explain in this week’s Business Tip.
A trust helps you to qualify for Medicaid because it can make your income and assets unavailable to you. Read all about it in this week’s Insurance Tip.
If you’ve married over the summer, here are five tax tips that may help you avoid stress at tax time. Learn more in this week’s Tax Tip.
With age comes wisdom, except when it comes to money. We explain pitfalls at every age in this week’s Financial Tip.
Read our tips to avoid complications if you’re obtaining private funding for your business.
Split annuities attempt to provide an immediate income stream and grow principal. Learn more in this week’s Insurance Tip.
You were ahead of the game and filed your taxes in March. What do you do with the corrected 1099 that just arrived? We explain in this week’s Tax Tip.
Roth IRAs have some unique rules regarding withdrawals, and five years is a magic number. We explain in this week’s Financial Tip.
As a small-business owner or self-employed individual, there are several factors that can influence your choice of retirement plans.
Accounts receivable is integral to your business. We offer tops for boosting collections and improving cash flow in this week’s Business Tip.
An irrevocable life insurance trust is the most widely used trust for insurance planning. Learn why in this week’s Insurance Tip.
They’re not love letters. They’re IRS notices. DO NOT PANIC! Each notice explains what to do to satisfy the inquiry. Learn more in this week’s Tax Tip.
If you are pre-paying for funeral expenses, there are several areas to address before agreeing to the arrangement. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why timing the market is nearly impossible. Read the Article
The healthcare coverage your business provides employees under the ACA must meet certain criteria. We explain in this week’s Business Tip.
The U.S. Supreme Court upheld the ACA, confirming health insurance subsidies may be offered through the federal exchange. Read more in this week’s Insurance Tip.
The cost of day camp can count as an expense toward the child and dependent care credit. Learn more in this week’s Tax Tip.
Even though they may have enough saved assets to retire early, many investors still have concerns about taking retirement benefits early at a reduced rate. Read our Article in the Marietta Daily Journal
Stress can contribute health issues. Good news is you can take steps to reduce some of your financial stress. We explain in this week’s Financial Tip.
Business Owners: Five tips for making your accounting easier to manage. Read all about them in this week’s Business Tip.
Death might be inevitable in your old age, but you can minimize the financial blow a premature death may cause. Learn more in this week’s Insurance Tip.
By following the rules with careful planning, the tax code allows the home sale gain exclusion every two years. Learn more in this week’s Tax Tip.
The housing market has finally hit a comfortable stride, but home ownership is still more affordable than renting. Read all about it in this week’s Financial Tip.
The housing market has finally hit a comfortable stride, but home ownership is still more affordable than renting. Read all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal: Bil Lako, CFP® highlights the financial considerations of becoming a stay at home parent. Read the Article
Several new tax responsibilities come when you start a business. Learn all about them in this week’s Business Tip.
Buying an insurance policy on Grandma? You first must expect a financial loss in the event of her death. We explain in this week’s Insurance Tip.
Cleaning out your office? Read this before you start shredding your old tax records. We explain in this week’s Tax Tip.
Combined finances but not legally married? Here are tips to help you along the road to financial security. Learn more in this week’s Financial Tip.
In today’s Marietta Daily Journal: The number of days you use and rent your second home determine the tax treatment. Read the Article
Want an understandable glimpse at a business’s earnings potential? Consider EBITDA. We explain in this week’s Business Tip.
Homeowners’ policies only insure your possessions up to certain limits. Adding a floater can expand your coverage. Learn all about it in this week’s Insurance Tip.
Surprise, surprise. The statute of limitations for your tax return isn’t as clean cut as you hoped. We explain in this week’s Tax Tip.
Baby boomers and millennials may be different, but their financial outlook can be shockingly similar. Read all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why a reverse mortgage is a weighty decision. Read the Article
Supreme Court clarifies how ERISA’s duty to monitor plan investments interacts with the six-year statute of limitations. We explain in this week’s Business Tip.
Supreme Court clarifies how ERISA’s duty to monitor plan investments interacts with the six-year statute of limitations. We explain in this week’s Business Tip.
Run a business out of your home? You may want to consider some endorsements to your homeowners insurance policy. Learn more in this week’s Insurance Tip.
Tax Deadline: If you’re living and working outside the country, your filing due date for your 2014 income taxes is June 15, 2015. We explain in this week’s Tax Tip.
Planned giving can maximize the personal, financial and tax benefits of your gifts. Read all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, highlights ways to reduce your estate if it exceeds the federal exemption amount. Read the Article
Would your small business survive a disaster? Thankfully, there are resources to help prepare you. Read the list in this week’s Business Tip.
April legislation changed some Medicare provisions. Learn about Income-Related Premium Adjustments and more in this week’s Insurance Tip.
Saving for college? Consider tax-advantaged strategies to get the most from your savings. We explain in this week’s Tax Tip.
Money doesn’t buy happiness, per say, but it can help if you spend wisely. We explain in this week’s Financial Tip.
Bil Lako, CFP®, helps with your homework on saving for higher education costs in today’s Marietta Daily Journal. Read the Article
Tax losses apply to business or investment activity. Make sure the IRS doesn’t view your loss as a hobby loss. We explain in this week’s Business Tip.
Qualified longevity annuity contracts are not included in the value of your IRA or 401(k) for RMD calculations. Learn more in this week’s Insurance Tip.
At mid-year, your financial planning opportunities are greater than if you wait until the end of the year. We explain what to check in this week’s Financial Tip.
Custom fields let you tailor customer and vendor records. Best of all, these fields are searchable! We explain in this QuickBooks Tip.
Long-Term Care policies don’t have to be one-size-fits-all. Customize your policy with options and riders. We explain in this week’s Insurance Tip.
Crazy to think the IRS has unclaimed refunds. Could you be one? Depends on if you’ve missed these deductions. We explain in this week’s Tax Tip.
No surprise: Retirement confidence is highest among those with a plan. Where do you fall? Find out in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how the value of your business depends on the valuation method used. Read the Article
The IRS can allow certain non-away-from-home lodging expenses to be treated as deductible business expenses. We explain in this week’s Business Tip.
Divorce may allow an ex-spouse to qualify for Medicaid, but there are several drawbacks to this option. Learn more in this week’s Insurance Tip.
An installment sale may save you capital gains taxes when selling property owned for a long time. Learn more in this week’s Tax Tip.
Find an unauthorized transaction on your debit card? The amount of your liability depends on the type of transaction. Read all about it in this week’s Financial Tip.
Bil Lako, CFP® explains in today’s Marietta Daily Journal why the domestic markets should not be considered expensive. Read the Article
In 2015, not having health insurance may mean a penalty of $325 for each adult and $162.50 for each child. Learn more in this week’s Insurance Tip.
Although the W-4 seems to be easy to fill out, this is where many taxpayers go wrong. We explain in this week’s Tax Tip.
Want to invest in real estate, limited partnerships or small businesses? You can in a self-directed IRA. We explain in this week’s Financial Tip.
A spouse’s death creates a financial crossroad to for you to navigate while grieving. We explain in today’s Marietta Daily Journal. Read the Article
If your vehicle is used for business, a portion of your auto loan interest may be deductible. Read more in this Business Tip.
If you are offered a choice when selecting a managed health care system, learn the difference between an HMO and PPO. Read all about it in this week’s Insurance Tip.
If you are offered a choice when selecting a managed health care system, learn the difference between an HMO and PPO. Read all about it in this week’s Insurance Tip.
Special rules apply when figuring the tax on the sale of inherited property. We explain in this Tax Tip.
Rules vary from state to state, but most Wills have to be probated; however, you may be able to avoid it. We explain in this week’s Financial Tip.
We explain why investing should be secondary to a financial plan in today’s Marietta Daily Journal. Read the Article
The QMB program covers the cost of Medicare premiums, deductibles and coinsurance that Medicare recipients usually pay. Read all about it in this week’s Insurance Tip.
If you borrow money from family for a home with an undocumented loan, you can’t deduct the interest. We explain in this week’s Tax Tip.
If you were counting on your spouse’s Social Security benefits to provide some of your retirement income, what happens now that you’re divorced? We explain in this Financial Tip.
When going through divorce, it’s important to understand that asset division decisions you make today can meaningfully affect your future. We explain in today’s Marietta Daily Journal. Read the Article
Business owners may want to consider benefit programs that go beyond the standard retirement and insurance benefits. Read more in this week’s Business Tip.
Loaning money to your adult children? Both your finances and your relationship with your child may be at risk. We offer guidance in this week’s Financial Tip.
Everyone must have qualifying health insurance coverage, qualify for an exemption or pay a penalty tax. We explain in this Insurance Tip.
Everyone must have qualifying health insurance coverage, qualify for an exemption or pay a penalty tax. We explain in this Insurance Tip.
It’s not just your taxes that are due tomorrow. It’s the last day to claim a refund for 2011. Read more in this week’s Tax Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® discusses how the stock market may react when the Fed raises interest rates. Read the Article
Customize up each feature you want to use in QuickBooks’ preferences window to tailor it to your business. Learn more in this Quickbooks Tip.
Only certain term life insurance policies can be converted to permanent life policies–even then, there is a deadline! We explain in this Insurance Tip.
At 17, retirement isn’t a top priority, but saving to a Roth IRA at 17 could provide a substantial nest egg at 65! Read all about it in this Tax Tip.
Retiring soon? It’s important to understand how to withdraw so you don’t take out too much or take out too little. Learn more in this Financial Tip.
Paying mortgage payments in retirement? It may be a wiser decision than you think. We explain in this week’s Marietta Daily Journal. Read the Article
When selling your business to family, there are certain financing arrangements available to consider. Learn all about them in this week’s Business Tip.
Your chances of being disabled for longer than three months are greater than your chances of dying prematurely. We explain the importance of Disability Insurance in this week’s Insurance Tip.
You may be able to pay what you owe through an installment agreement with the IRS. We explain in this week’s Tax Tip.
Unhappy with your current 529 Plan? Consider a “same beneficiary rollover” to a new plan. Learn your options in this week’s Financial Tip.
Gene W. Henssler, Ph.D., was inducted to the Coles College of Business Hall of Fame at Kennesaw State University.
Kennesaw’s Student Managed Investment Fund wins first place at the G.A.M.E Forum investment competition.
In today’s Marietta Daily Journal, Bil Lako, CFP® discusses what to do with extra income: pay down debt or invest. Read the Article
Even after a divorce, life insurance is still valuable protection for yourself and your family. Learn why in this week’s Insurance Tip.
When you reach 70½, you may face tax issues that could result in significant penalties if not addressed. We explain in this Tax Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, takes a look at deciding when seniors should begin taking Social Security benefits. Read the Article
If you are self-employed or a small business owner, your retirement plan needs differ from those of large employers. Learn your options in this week’s Business Tip.
Your life insurance company may require you meet certain conditions when you change the beneficiary for your policy. We explain in this Insurance Tip.
Did you know you should consult your C.P.A. when you exercise an employee stock option? We list 18 other reasons to call your C.P.A. in this week’s Tax Tip.
Money is a major cause of stress in any marriage, but it can be especially so in a second one. We explain in this Financial Tip.
Generally, a Registered Investment Adviser will design a plan for your future, rather than sell a product. We explain in today’s Marietta Daily Journal. Read the Article
If you pay interest on a loan for a vehicle used for business, part of the interest may be tax deductible. We explain in this Business Tip.
Long-term care insurance policies are not standardized. Learn what to look for when comparing policies in this week’s Insurance Tip.
If you’re a non-working spouse, don’t overlook a spousal IRA. It’s the exception to the earned income requirement. Learn more in this Tax Tip.
If you’re a non-working spouse, don’t overlook a spousal IRA. It’s the exception to the earned income requirement. Learn more in this Tax Tip.
Want to take distributions from a 401(k) and convert only the after-tax dollars to a Roth? New rules allow you to do that. Learn more in this Financial Tip.
An amazing evening of music that is equal to those in London, Paris and New York are standard fare at KSU. Read the Article
An amazing evening of music that is equal to those in London, Paris and New York are standard fare at KSU. Read the Article
You still have time to make an IRA contribution for 2014. Bil Lako, CFP® tells you how in today’s Marietta Daily Journal. Read the Article
A target benefit plan is a type of money purchase pension plan that generally benefits older participants. Learn more in this Business Tip.
Just as the terms of annuities vary, so do the expenses and fees. Understand what you’re purchasing. We explain in this Insurance Tip.
Tuition paid to a specialized school for students with multiple learning disabilities may be tax deductible. We explain in this Tax Tip.
Don’t leave yourself vulnerable to identity theft. There are steps you can take to protect yourself. Read all about it in this Financial Tip.
Is it better to convert your IRA to a Roth IRA? No surprise–it depends on several factors. Bil Lako, CFP® explains in today’s Marietta Daily Journal. Read the Article
It’s best to review the possible pros and cons of franchising before making any commitments. Read all about it in our Business Tip.
Flood insurance isn’t as simple as a rider on your homeowner’s policy. It is a specialized policy. Learn all about it in this week’s Insurance Tip.
Flood insurance isn’t as simple as a rider on your homeowner’s policy. It is a specialized policy. Learn all about it in this week’s Insurance Tip.
Before you meet with your C.P.A., use our guide to get your records in order! Read all about it in this week’s Tax Tip.
As with many of life’s challenges, it may help to focus less on the big picture of retirement and more on the details. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, discusses an option for those seeking higher yields on fixed investments. Read the Article
Businesses that self-insure may consider stop-loss health insurance to help guard against the risks involved. Read more in this Business Tip.
What would happen if you suffered an injury or illness and couldn’t work for days, months, or even years? Learn why disability insurance is important in this week’s Insurance Tip.
Even for procrastinators, there is still time to take advantage of some last-minute tax tips. Read more in this week’s Tax Tip.
ABLE accounts allow some individuals with disabilities to save while maintaining eligibility for public benefits. Learn more in this Financial Tip.
There is no standard rule to asset allocation that is right for everyone. We explain in today’s Marietta Daily Journal. Read the Article
If you live and work abroad, you may be eligible to exclude all or part of your income. We explain in this Business Tip.
Some life insurance issuers offer life insurance with a long-term care rider available for an additional charge. Read more in this Insurance Tip.
Share a bank account with someone other than your spouse? Don’t forget your Nominee 1099 this tax season. Read all about them in this week’s Tax Tip.
Finance 101: 10 terms you need to know! Read all about it in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why RMDs are one area where professional help is worth the cost. Read the Article
Unfortunately there are a number of financial matters that will need your attention while grieving for a lost spouse. We walk you through it in this Financial Tip.
There can be a gap between the amount of auto insurance you’re required to have and the amount of coverage you need. Read more in this Insurance Tip.
A cash flow analysis is an important part of your budget and your overall financial picture. Read all about it in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how real estate investing can become a job. Read the Article
1099s for 2014 must be provided to independent contractors no later than Feb. 2, 2015. Read more in this Business Tip.
We explore situations where life insurance may make sense for retirees. Read more in this Insurance Tip.
It’s important to note that 1031 exchanges are not “tax-free” but are “tax deferred.” We explain in this Tax Tip.
Qualifying wartime veterans and their families may be eligible for a tax-free, supplemental pension. Read all about it in this week’s Financial Tip.
Ever consider increasing tax-deferred savings to become eligible for tax deductions or credits? You may want to! We explain in this week’s Marietta Daily Journal.
Measuring business performance puts a dollar figure on the status of your company. We explain in this week’s Business Tip.
Tax planning with life insurance involves minimizing the tax consequences of your life insurance decisions. Read more in this week’s Insurance Tip.
Sometimes a gift recipients think they must pay income tax on the gift received. False! We explain in this week’s Tax Tip.
In addition to loans, financial aid includes scholarships, grants, and work-study jobs. Read all about it in this week’s Financial Tip.
Robo-advisors are a new trend for investing. Bil Lako, CFP®, explains the good, bad and ugly in today’s Marietta Daily Journal. Read the Article
Be very precise when creating item records in QuickBooks to avoid creating problems with your accounting. We walk you through it in this QuickBooks Tip.
It is important that you report changes in circumstances—including moving—to the Health Insurance Marketplace. Learn why in this week’s Insurance Tip.
In some instances, home equity debt isn’t tax deductible. We explain in this week’s Tax Tip.
The offering price of an IPO may be very different from the price at which the stock trades on its first day. We explain in this week’s Financial Tip.
In today’s Marietta Daily Journal, we explain how it takes a significant life event to motivate a family into taking action. Read the Article
Large employers are required to offer health care coverage this year. Learn if this affects your business in this week’s Business Tip.
Not having health insurance coverage will impact your 2014 taxes, either by extra forms to fill out or penalties. Read more in this Insurance Tip.
Thanks to new legislation, savers have more investment flexibility in their 529 Plan accounts. Read all about it in this Financial Tip.
If you made a New Year’s Resolution to get healthy, you may get more bang for your resolution buck than you bargained for. That’s because healthy habits can benefit your wallet as well as your body.
The decisions you make today will affect how well you are prepared for what lies ahead. We explain in today’s Marietta Daily Journal. Read the Article
Just as you’d report life changes to the IRS, you’ll also need to report them to the government Health Insurance Marketplace.
Like all things tax related, the answer is it depends. Generally, the federal statute of limitations can be used to help you determine how long to keep records.
The Internal Revenue Code says that if you receive a distribution from an IRA, you can’t make a tax-free (60-day) rollover into another IRA if you’ve already completed a tax-free rollover within the previous one-year (12-month) period. The long-standing position of the IRS was that this rule applied separately to each IRA someone owns. Earlier…
Check your Social Security statement for accuracy. Your future benefits are based on earnings reported. Learn more in this Financial Tip.
Individuals may be able to deduct certain employment expenses as miscellaneous itemized deductions. Learn more in this Business Tip.
By failing to make our update your Will, you may be accidentally disinheriting your heirs. Learn more in this Financial Tip.
Before you make an investment in Holiday Cheer, tax Dr. Gene’s advice: “Always do your homework.” Hot Chocolate, Jingle Bells, Fruitcake, Wrapping Paper, Poinsettias and the Times Square Ball Drop—See how these have changed over time.
Don’t forget what comes right after the holidays: tax season! Avoid potential penalties on your return with these tips. Read all about it in this Tax Tip.
529 plans may offer more potential tax benefits, but Roth IRAs offer greater flexibility for parents older than 59½. Read all about it in this Financial Tip.
Despite lower gas prices, the IRS is increasing the standard mileage rate for 2015. We list them in this Tax Tip.
A way to provide for your family and help a non-profit organization is to establish a charitable trust. We explain in today’s Marietta Daily Journal. Read the Article
Dreading your 2014 taxes? We have a checklist of strategies that might help you save on taxes before year-end. Read more in this Tax Strategist.
If you itemize deductions on your income tax return, you can generally deduct your gifts to qualified charities. Learn more in this Tax Tip.
We don’t time the market, but we do time Roth IRA conversions to minimize your tax liability. We explain in this week’s Financial Tip.
If you’re giving to charity this holiday season, make sure the IRS isn’t the beneficiary of your gift. We explain in today’s Marietta Daily Journal. Read the Article
If you sell your employees’ time and skills, you can use QuickBooks to record those hours and bill your customers. Learn how in this QuickBooks Tip.
Income earned on a health savings account balance is income tax-free. Read all about it in this Insurance Tip.
Tax Manager John Dickson, C.P.A., CVA, contributed a feature article to the November/December issue of Georgia Realtor® magazine. Read his nine tax strategies for Relators® to lessen their tax burden. Read the Article
At year-end, businesses have the benefit of being able to control income and deductible expenses. Read the Article
Ask yourself these questions first, and you may forgo buyer’s remorse and stay on track to meet your financial goals. Learn more in this Financial Tip.
Sole proprietors can establish retirement plans for employees, but their own eligibility to participate is limited. We explain in this Business Tip.
Transferring assets to qualify for Medicaid can postpone your benefits, but there are exceptions. We explain in this week’s Insurance Tip.
Substantial reporting requirements have been added to the 2014 tax return to facilitate the ACA insurance mandate. We explain in this Tax Tip.
Talking to your aging parents about their finances isn’t easy. We provide some tips in this week’s Financial Tip.
Small-business owners can streamline the process of moving funds into their bank accounts. We explain in this QuickBooks Tip.
Medicare generally won’t cover all of your medical expenses, so you may consider supplemental insurance. We explain in this Insurance Tip.
Medicare generally won’t cover all of your medical expenses, so you may consider supplemental insurance. We explain in this Insurance Tip.
What is a tax deduction worth? It depends on your situation and the type of deduction. We explain in this Tax Tip.
The only thing these two schools have in common is Clean, Old-Fashioned Hate. Interesting facts about the Georgia/Georgia Tech football rivalry.
Marriage changes everything, including your taxes and how you go about year-end tax planning. We explain in today’s Marietta Daily Journal. Read the Article
There are several different types of stock plans a company can provide as compensation for employees. Read all about it in this week’s Business Tip.
Ted Parrish tells CNNmoney why tech stocks are more reasonable valued today than 15 years ago. Read the Article
As another year passes, it may be time to consider planning for long-term care. Learn about the different types in this week’s Insurance Tip.
Gambling winnings are reported as income, while gambling losses are deducted on Schedule A. If you scored big at the casino, read this week’s Tax Tip.
Over the past few decades, a field has emerged that examines how human psychological factors influence economic and financial decisions. Understanding these biases may help you avoid questionable calls in the heat of the financial moment.
Bil Lako, CFP®, explains how recognizing your capital losses may improve your tax situation. Read the Article in Today’s Marietta Daily Journal
Business owners have several options when funding nonqualified deferred compensation plans. Learn all about it in this week’s Business Tip.
Who can be covered by a commercial general liability policy depends on the type of business. Learn what we mean in this week’s Insurance Tip.
Saving for your children’s education in their name? Don’t be deterred by the Kiddie Tax. Read more in this week’s Tax Tip.
The income limits for deductible traditional IRA contributions has increased for 2015. Learn more in this Financial Tip.
You have an emergency fund that will get you through a crisis. Financially, you’re prepared … but are you really? Read the Article
Depending on the gain you stand to make, it may be a better option to trade your business vehicle than sell it. Learn more in this Business Tip.
It’s open enrollment season for most employer-provided health care plans. Learn how to evaluate your options in this week’s Insurance Tip.
Won an item at a charity auction? Only part of your winning bid may be tax deductible. Read more in this Tax Tip.
Congratulations to the Henssler Associates and Tax Consultants who made the 2014 Five Star Professionals lists!
Social Security and SSI beneficiaries will receive a cost-of-living adjustment for 2015. See the other changes for 2015 in this week’s Financial Tip.
The markets are due for a pullback. Should you worry? Nope. Bil Lako, CFP®, tells you why in this week’s Marietta Daily Journal. Read the Article
Phantom stock is the right to receive a bonus at a specified date based upon the performance of phantom shares. Learn more in this Business Tip.
You should not buy life insurance solely for funding college tuition. Consider it only when you have an insurance need. Read more in this Insurance Tip.
Your first contact with the IRS will not be a phone call, but an official correspondence sent through the mail. We explain in this Tax Tip.
The terms “saving” and “investing” may be used interchangeably, but understanding how they are different may help you in working toward financial goals for you and your family. We explain in this Financial Tip.
In today’s @mdjonline, Bil Lako, CFP® explains why you need to consider long-term care needs before gifting assets. Read the Article.
For some people, the simplicity of starting out in an established business outweighs the disadvantages. Learn what we mean in this week’s Business Tip.
Before withdrawing from a retirement plan, carefully consider the resulting decrease in your retirement savings. Read on in this Tax Tip.
Military servicemembers have unique sources of income and savings options, making financial planning important. Learn more in this Financial Tip.
Are you Retirement Planning? 56% of workers haven’t calculated how much money to save. Learn more in our infographic.
In today’s Marietta Daily Journal, Bil Lako, CFP® discusses the intricacies of estate planning if you have special-needs heirs. Read the Article
Know your regulations: Your attempts to raise capital for your business could be construed as an offering of securities. Read on in this week’s Business Tip.
A life insurance trust can be designed to accomplish a variety of estate planning needs. Learn more in this week’s Insurance Tip.
Both home equity loans and education loans can generate tax deductions. Each has its own special rules and limitations. Learn what we mean in this Tax Tip.
Almost as important as knowing how your portfolio performed is understanding why it performed as it did. We explain in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains using a trust as a beneficiary for your IRA. Read the Article
Nonqualified deferred compensation plans are not governed by ERISA rules, but they must comply with Sec. 409A of the IRS. Learn more in this Business Tip.
The U.S. Census Bureau reports 86.6% of the population had health insurance in 2013. Learn more in this week’s Insurance Tip.
Have you considered moving to a tax-friendly state in which to spend your golden years? Find out what we mean in this week’s Tax Tip.
You have until Oct. 15, 2014, to undo your 2013 traditional IRA to Roth IRA conversion. Learn why you should consider it in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains the new tax benefit for qualified longevity annuity contracts held in an IRA. Read the Article
It’s time to take advantage of QuickBooks’ greatest strength: customizable reports. Read all about it in this special QuickBooks Tip.
If you are terminally ill, you have the option to sell your life insurance policy for a lump-sum cash payment. Learn all about Viatical Settlements in this week’s Insurance Tip.
It’s time to gear up for year-end tax planning! Read 10 To-Dos for the last few months of 2014 in this week’s Tax Tip.
DIY estate plans may be penny-wise and pound-foolish. Know the risks before you bypass your estate planning attorney. Learn more in this Financial Tip.
If you use part of your home for business purposes, you may be able to take a tax deduction. Read all about it in this Business Tip.
Nonqualified plans can offer more meaningful benefits, simply by covering a legitimate cost for an employee. We explain how in today’s Marietta Daily Journal. Read the Article.
Should you die, your survivors may be eligible for government benefits, including Social Security Survivor Benefits. Read more in this Insurance Tip.
If you or your heir’s marital status has changed, your Will or Trust may be outdated. Learn more in this Tax Tip.
Be aware that as a co-signor of a private student loan, you are being asked to guarantee the loan. Read more in this Financial Tip.
When it comes to credit card fraud, your first line of defense is to check your statements. We explain in today’s Marietta Daily Journal. Read the Article
Employers are personally responsible for remitting required taxes on behalf of its employees to the government. Learn more in this Business Tip.
The IRS pays close attention to how you classify your employees and independent contractors. Learn more in this Tax Strategist.
Cash value life insurance comes in many flavors, all with different features. Read all about them in this week’s Insurance Tip.
Alimony: deductible for those who pay; taxable for those who receive. But the IRS sees discrepancies in what’s reported. Learn what we mean in this week’s Tax Tip.
“I know my finances like the back of my hand. I don’t need to write them down,” and other mistakes you’re making. Read all about it in this week’s Financial Tip.
In today’s Marietta Daily Journal, explore your options if you have significant gains in your variable annuity. Read the article
September is National Life Insurance Awareness Month. We discuss some of the basics – Contractual Obligations in this week’s Insurance Tip.
If you are self-employed your life insurance needs also need to consider your business financial obligations. Learn more in this Business Tip.
Uncle Sam appreciates a higher education. Learn the tax advantages to going to school in this week’s Tax Tip.
How your credit score is calculated is changing–likely in your favor if you’ve had medical debt repaid in collections. Learn how in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how a financial product is not a financial plan. Read the article
Traveling to Hawaii on business and then staying for a vacation? Know what expenses are deductible before you go. We explain in this Business Tip.
Own an 1880s Victorian home? You likely need specialized homeowner’s insurance. Learn more in this week’s Insurance Tip.
You’re too busy living life to realize how much has changed. Time to take a look at our fall tax planning checklist. Learn more in this week’s Tax Tip.
The Fed makes headlines daily… but who are they and what do they do? Learn about their influence in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains why “Can I retire?” and “When can I retire?” have two different answers. Read the Article
The addition of riders allows you to customize your disability insurance policy to suit your needs. Read all about them in this week’s Insurance Tip.
Business travel need not bankrupt you! There are tax breaks available, but there are rules to follow. Learn more in this Tax Tip.
If you’re incapacitated, would your spouse have access to your online accounts? Learn why it’s important to keep a password list in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how you should not mistake a promised retirement benefit for a guarantee. Read the Article
QuickBooks offers multiple ways to do the same tasks, accommodating different work styles. Learn about Income Tracker in this week’s Business Tip.
QuickBooks offers multiple ways to do the same tasks, accommodating different work styles. Learn about Income Tracker in this week’s Business Tip.
Risk transfer to an insurance company can protect your dependents from losses that may result from your premature death. Read more in this Insurance Tip.
This far after tax season, scammers are still making calls, claiming to be from the IRS. Don’t be duped! Read what to look for in this Tax Tip.
Not saving for retirement? The 2014 Social Security Trustees Report might encourage you to do so. See what we mean in this Financial Tip.
Do you have a clear strategy for the road ahead? Bil Lako, CFP®, explains how to develop an overarching direction in today’s Marietta Daily Journal. Read the Article
QuickBooks reports can help you make business decisions that will help you take your growing company to the next level. Learn more in this Business Tip.
The underwriting process requires a lot of information to classify you as an acceptable risk. Learn what it entails in this Insurance Tip.
Under the FATCA law that bank account in the Cayman Islands will be reported to the IRS. Find out what this means in this Tax Tip.
Taking Social Security at 62 reduces your monthly benefit, but there are plenty of reasons people do so. Read what they are in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains the IRS’ changes to IRA Rollover Rules. Read the Article
Health care systems vary around the world, but they generally fall within one of four models. Read all about them in this Insurance Tip.
What will be your retirement reality? Do you know how much of it will be spent watching TV? Read about retirement myths and realities in this week’s Financial Tip.
If you trade your business services with another vendor for products, that barter is taxable income. We explain in today’s Marietta Daily Journal. Read the Article
The IRS and the DOL recognize legally married same-sex couples for tax and employee benefit purposes. Find out how this affect’s your business’s retirement plan in this week’s Business Tip.
There is a possibility that you might outlive your retirement accounts. Longevity Income Annuities offer one solution. Learn more in this Insurance Tip.
If you do not have health insurance during 2014, you may have to pay a penalty on your individual’s income tax returns. Learn more in this Tax Tip.
If you have children under 13 who require daycare while you work, you may qualify for a tax credit. Read all about it in this Tax Tip.
Funds that offer multi-class shares allow you to select a share class that is best suited to your investment goals. Read more in this Financial Tip.
Medicaid benefits are administered by each individual state, so eligibility requirements can vary. Read more in this Insurance Tip.
“You’ve just won a brand new car!” But who pays the taxes? Find out in this week’s Tax Tip.
Stocks are classified by type, size, cyclicality and location, which helps weed out those unsuitable for your strategy. Learn more in this Financial Tip.
Bil Lako CFP® explains how you can apply for a Georgia tax credit that also nets you a federal tax deduction! Read the Article in Today’s Marietta Daily Journal
Consider electing S corporation status if the shareholders want to avoid double taxation on the earnings. Learn more in this Business Tip.
Consider insuring your home during construction with a policy that escalates coverage as construction progresses. Read all about it in this Insurance Tip.
The Earned Income Tax Credit: The government wants those who are entitled to the credit to claim it. Learn more in this Tax Tip.
There is much more to “the markets” than the NYSE. Learn more about the many exchanges in the financial marketplace in this week’s Financial Tip.
Bil Lako, CFP® explains the many financial benefits available for military personnel to help them reach their goals. Read the Article
When determining your long-term care coverage, one thing to consider is the cost of nursing homes in your area. Learn more in this Insurance Tip.
If you forgot to include something on your tax return, the solution is to file an amended return as soon as possible. Read more in this Tax Tip.
While most federal loans are provided directly to students, the Parent PLUS Loan program is available to parents. Learn more in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® details the benefits of a mid-year tax review. Read the Article
Managing the life cycle of your fixed assets is a long-term process you can accomplish in QuickBooks. Learn how in this Quickbooks Tip.
Join us in congratulating Henssler Financial on being named to the inaugural Financial Times’ 300 list!
If you have group health benefits through an employer, you need to fully understand your coverage before you need it. Read what to look for in this Insurance Tip.
State and local sales tax deduction is one of the top 10 tax breaks you’ll miss this year. What are the others? Find out in this Tax Tip.
State and local sales tax deduction is one of the top 10 tax breaks you’ll miss this year. What are the others? Find out in this Tax Tip.
Real estate investments are more than buying a house. We explore several types of real estate investments in this week’s Financial Tip.
With the future of Section 179 expensing uncertain, businesses should ensure they’re on track to minimize their taxes. We explain in this week’s Marietta Daily Journal. Read the Article
Is QuickBooks crashing? Are you missing data? Mistakes in your reports? Oh my! Your company file may be too big. Read what to do in this QuickBooks Tip.
The IRS prohibits employers from paying tax-free funds to employees to buy individual policies of health insurance. Learn more in this Insurance Tip.
While only 0.9% of all federal tax returns were audited, 85% of those audited owed additional taxes. Find out if you’re at risk in this week’s Tax Tip.
Withdrawing retirement assets is an art: too much and you may run out of money; too little and you may not enjoy it. Learn how to balance it in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® discusses the difference between a bad fit and a bad adviser. Read the Article
Interest earnings on cash values in an Indexed Universal Life policy are tied to the performance of a market index. Read all about it in this Insurance Tip.
Health insurance premium subsidies are determined using estimated household income and family sizes. Learn more in this Tax Tip.
Your first full-time job after graduation is the perfect time to get started right with your personal finances. Read more in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why the Bitcoin is considered property rather than currency. Read the Article
Gifting your business interest allows for more flexibility than selling your business outright. Learn more in this Business Tip.
If your well-deserved vacation is canceled or cut short, will you be able to get any of the money you’ve spent back? Find out in this Insurance Tip.
A recent Tax Court Case ruled the once-per-year rollover applied to the aggregate of all of the taxpayer’s IRA accounts. Does this affect you? Find out in this Tax Tip.
If college expenses are more than you anticipated, there are ways to find the money to keep your student enrolled. Learn more in this Financial Tip.
‘Tis the season for gifting! And you thought it was just at Christmas. With weekends packed with graduation parties and weddings, there are plenty of opportunities to trigger the gift tax.
Generally, liquidation is a worst-case scenario for any business. You may lose more than your hard assets. Read why in this Business Tip.
For the terminally ill, life insurance is a valuable resource. We explore some ways life insurance policies can be used. Read more in this Insurance Tip.
If you plan to gift your estate, you may want to pay attention to the proposed changes in gift tax laws. Learn more in this Tax Tip.
It’s the paramount financial conflict many families face, especially as more couples start having children later in life. Should you save for college or retirement? Learn more in this Financial Tip.
Even with the most sophisticated data management plan in place, every business is a target for security breaches
Forecasting business revenue calls for a combination of statistical analysis together with sound judgment. Read more in this Business Tip.
Private health care exchanges are growing in number and popularity for both individual consumers and businesses. Learn more in this Insurance Tip.
When cleaning out your tax records, be careful not to toss records needed to substantiate the basis of capital assets. Learn more in this Tax Tip.
What’s wrong with a tax refund? You’re only getting your own money after making an interest-free loan to Uncle Sam. We explain in this Tax Tip.
Long-term care insurance could be the difference between an inheritance of two-weeks’ pay and $638,400. We explain in today’s Marietta Daily Journal
As a business owner, do you know the 10 basic elements of your company’s financial statement? Read more in this Business Tip.
“Assisted-living facility” is a term that encompasses a variety of communities with different levels of care for seniors. Learn more in this Insurance Tip.
If your college student is waiting tables this summer, remind them that those cash tips aren’t tax free income. Read more in this Tax Tip.
Retirement confidence seems to have improved from record lows over the past five years, according to the 24th Annual Retirement Confidence Survey. Read more findings in this Financial Tip.
Business owners have access to unique disability income insurance policies to help them address their potential challenges of keeping their business running during a disability of the owner or key person.
Financial ratios allow you to evaluate your business’s condition and performance, and highlight areas for improvement. Learn more in this Business Tip.
You may be able to add riders to your disability policy to enhance your benefits. Learn more in this Insurance Tip.
Scammers claim to be from the IRS, banks or credit card companies to trick you into divulging your personal information. Learn more in this week’s Tax Tip.
If your Spring Fever can only be cured by a trip abroad, we have a few financial tips to help you with your travels. Read more in this Financial Tip.
A limited partnership offers some flexibility when allocating profits and control. Learn more in this Business Tip.
You may be turned down for disability coverage if you pose too great a risk to the insurance company. Learn other reasons in this week’s Insurance Tip.
Compounding—it’s why you want to put your savings to work for you as early as possible! Learn more in this Financial Tip.
Bil Lako, CFP® explains how by adding riders without considering your personal situation, you run the risk of over insuring. Read the article in today’s Marietta Daily Journal
Health reimbursement arrangements are another option employers have for offering health benefits to their employees. Learn more in this Business Tip.
Since Social Security disability insurance is limited in scope, many individuals are buying private disability policies. Read all about it in this Insurance Tip.
The AMT is an extremely complicated area of tax law that requires careful planning to minimize its effects. Learn more in this Tax Tip.
Social Security has grown to include several other benefits; therefore, it’s likely it will play a role in your future. Read more in this Financial Tip.
We explain insurance policies that blend permanent life insurance with a long-term care rider.
Read our five tips for faster, more accurate invoicing! Learn more in this QuickBooks Tip.
Small businesses may be eligible for a tax credit for paying the health insurance premiums for employees. Read more in this Insurance Tip.
Procrastinating on your tax return? You may not like the consequences if you wait too long. Find out more in this week’s Tax Tip.
Spring has sprung! If you’re in the cleaning and reorganizing mood, why not clean out your debt? Learn more in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFF®, explains how borrowing from your life insurance cash value may alter your death benefit. Read Our Article in Today’s Marietta Daily Journal
A business’s reserve cash can help it weather changes in market demand and pay for unexpected business expenses. Read more in this Business Tip.
If you use your car for business, certain insurance-related costs can be deducted on your federal income tax return. Learn more in this Insurance Tip.
With high contribution limits, 529 plans can be used as both as a college savings tool and an estate-planning tool. Learn more in this Tax Tip.
Don’t fall for these five key risks when saving to your employer-sponsored retirement plan. Read all about it in this Financial Tip.
Business owners may look to life insurance to protect their family’s interest in the business for succession planning. Read Our Article in Today’s Marietta Daily Journal
Employers may consider non-traditional benefits like flex schedules, job sharing, telecommuting and concierge services. Learn more in this Business Tip.
When choosing between a HMO and a PPO, you have to consider both the flexibility and cost. Learn more in this Insurance Tip.
You may be able to exclude up to $500,000 of capital gain from federal income tax when you sell your home for MFJ. Read more in this Tax Tip.
Like death and taxes, the increasing cost of college is certain. Costs include tuition, books and living expenses. Learn what’s new in this Financial Tip.
Like death and taxes, the increasing cost of college is certain. Costs include tuition, books and living expenses. Learn what’s new in this Financial Tip.
If you are looking for an easy way to make an IRA contribution, consider directing your tax refund to your IRA. Read our article in today’s Marietta Daily Journal
Is your business online? You may be able to deduct some costs of your business website. Find out how in this Business Tip.
Sometimes it is easier to illustrate how something complicated works. Life insurance is no different. Read all about it in this Insurance Tip.
Low income earners and couples with qualifying children are eligible for a Earned Income Tax Credit. Learn more in this Tax Tip.
Nearly two-thirds of Americans say they’re making fair or no progress in saving money. Learn more in this Financial Tip.
If you are a non-working spouse, you may be able to contribute to an IRA based on the compensation of your spouse. Read the Article in Today’s Marietta Daily Journal
Employer-sponsored retirement plans offer current tax deductions for the business and tax-deferred growth employees. Read more in this Business Tip.
The ACA allows you to keep your old health care plan, but you may miss out on benefits offered by newer plans. Learn more in this Insurance Tip.
The stringent tests to qualify for a home office deduction haven’t changed, but calculating your deduction got easier. Learn more in this Tax Tip.
If you want to leave your estate to both a charitable and noncharitable beneficiaries, here are two trusts to consider. Read more in this Financial Tip.
Bil Lako, CFP®, explains why your accountant needs to be aware of any special reporting requirements you may have. Read our article in today’s Marietta Daily Journal
Employee compensation and fringe benefits are taxed differently depending on your business entity. Learn more in this Business Tip.
If you don’t insure your home for at least 80% of its value, you will likely face a coinsurance penalty. Read all about it in this Insurance Tip.
Loaning money to a family member for the purchase of a home may have unintended tax consequences. Learn more in this week’s Tax Tip.
Cover your bases. Good idea in baseball. Better idea for financial planning. Read more in this week’s Financial Tip.
Your child’s unearned income from dividends, interest and capital gains may be subject to the Kiddie Tax rules. Read our Article in Today’s Marietta Daily Journal
Before you raise capital for your business by selling stock shares to investors, consider your business entity choice. Read more in this Business Tip.
Since property generally depreciates, an item’s cash value is usually less than its replacement cost. Learn how this affects you in this week’s Insurance Tip.
The retirement savings contributions credit is still available to eligible investors for 2013 IRA contributions. Learn more in this Tax Tip.
Tax Court tightens “One Tax-Free Rollover Per Year” rule with new ruling in case. Learn more in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how the U.S. tax code provides a tax credit for foreign taxes paid. Read the Article
If your business is instituting or expanding a fringe benefit program, you may need to re-evaluate your business entity. Learn more in this week’s Business Tip.
KENNESAW, Ga. (February 27, 2014) – The Kennesaw State University Department of Athletics and Henssler Financial announced today a multi-year agreement that will provide significant financial support to KSU’s Department of Athletics and its student-athletes.
Receipts and photos of your household inventory can help your insurance company determine replacement costs. Read all about it in this week’s Insurance Tip.
Ted Parrish, CFA, joins Chuck Jaffe on Money Life Show to discuss our investment strategy and offers some stock picks. Listen to the Interview.
Ted Parrish, CFA, joins Chuck Jaffe on Money Life Show to discuss our investment strategy and offers some stock picks. Listen to the Interview.
Determining the number of exemptions to claim on your W-4 can be tricky. Seek help before you make changes. We explain in this Tax Tip.
Thinking of giving your teen a credit card for emergencies? Teach them about money and how to handle it first. Learn how in this week’s Financial Tip.
Ted Parrish, CFA, comments on Facebook’s latest deal and provides his preference in technology on Fox Business. Watch the Interview
Ted Parrish, CFA, comments on Facebook’s latest deal and provides his preference in technology on Fox Business. Watch the Interview
Long-term care premiums are increasing for policyholders. We explain why and what you can do in today’s Marietta Daily Journal. Read the Article
Business owners concerned about their personal liability should carefully consider their entity choice. We explain in this Business Tip.
Your homeowner’s insurance covers your possessions in your home but does it extend to when you’re moving? Find out in this Insurance Tip.
You should have received your W-2s by 1/31. If you are missing one, read the steps you should take in this week’s Tax Tip.
The lessons you teach your child today will provide a solid foundation for making a lifetime of financial decisions. Learn more in this Financial Tip.
Your original choice for a business entity was not a permanent selection. You should regularly re-evaluate. Learn why in this week’s Business Tip.
The Affordable Care Act requires that all people carry health insurance (with exceptions). How will this affect you? Find out in this Insurance Tip.
Certain gifts are excluded from the gift tax. Do you know if your gift requires you to file a gift tax return? Learn more in this Tax Tip.
Do you have a portfolio strategy for dealing with the market’s changes? We explain in this Financial Tip.
In today’s Marietta Daily Journal, we explain how you may find tax savings in your business real estate. Read the Article
If you plan for 2014 taxes while 2013 is still in the works, you can make more tax-advantageous business decisions now. Learn how in this QuickBooks Tip.
Did you know you can use life insurance for special planning strategies such as charitable giving or business continuity? Learn more in this Insurance Tip.
We are excited to announce that John W. Dickson III, C.P.A., CVA, has joined Henssler as a Tax Manager.
Tax Tip for Newlyweds: Don’t forget to let the Social Security Administration, the IRS and the Post Office know about any name or address changes! Learn more in this week’s Tax Tip.
We are excited to announce that Theodore L. Parrish, CFA, was named to Leadership Georgia’s Class of 2014.
Since bond prices fall when interest rates rise, it may be a good time to pay increased attention to any fixed-income investments you have. Here are some factors to consider when you review your portfolio.
In 2015, you should be able to save for your retirement through #myRA via payroll deduction. Learn more in this Financial Tip.
In today’s Marietta Daily Journal: 2014 may be a taxing year for small businesses, as Section 179 expensing has been reduced. Read the Article
Your business is an investment of your time, money and ideas, which is why you need to insure it against perils. Read more in this Business Tip.
Group disability insurance may be more affordable; however, a group policy may not meet your specific needs. Read all about it in this Insurance Tip.
As you move up the net worth ladder, avoid the temptation to elevate your “status” by overspending on luxury goods. Learn more in this Financial Tip.
QuickBooks works right out of the box, but you can customize it to improve your workflow. Learn how in this special Quickbooks Tip.
Watch Ted Parrish, CFA, on Fox Business share his outlook on global growth and provide his current sector picks. Watch the Interview
Medicaid is the largest payer of nursing home bills in America. Plan so that you meet your state’s requirements. Learn how in this week’s Insurance Tip.
Deductible medical expenses must be in excess of 10% of your AGI this year. Read the list of covered expenses in this week’s Tax Tip.
It’s a new year, so it’s time to plan your 2014 IRA contribution. Learn this year’s phase-out limits in this week’s Financial Tip.
Instead of trying to time the market, Bil Lako, CFP®, explains dollar cost averaging in today’s Marietta Daily Journal. Read the Article
Small-business owners and high-income taxpayers may have a challenging 2014 when it comes to taxes. Learn more in this Business Tip.
Tired of buying band aids to use up your flex spending dollars? The IRS has modified the “use-it-or-lose-it” rule. Learn all about it in this week’s Insurance Tip.
Taxpayers should make every attempt to take advantage of available education tax credits. Find out how in this Tax Tip.
There are nearly as many ways to save money as there are to spend it. We explain ways to cut your spending in this week’s Financial Tip.
You may be under-withholding because your filing status and exemptions on W-4 do not account for other income sources. We explain in today’s Marietta Daily Journal.
It is good practice to have independent contractors sign IRS Form W-9 the first time you use them. Read more in this Business Tip.
To you, she’ll always be three, but now she’s getting her driver’s license. What does that mean for your auto insurance? Find out in this Insurance Tip.
Can you deduct mortgage interest if your name isn’t on the mortgage but you are an equitable owner of the home? Find out in this Tax Tip.
Considering a Reverse Mortgage? Learn about the changes made to the program that take effect Jan. 13, 2014 in this week’s Financial Tip.
In reality, Medicare pays for only a portion of the cost for most health-care services, leaving a potentially large amount of uninsured medical expenses.
If you are your own boss, know that the IRS watches what you pay yourself as a business owner. We explain more in this week’s Marietta Daily Journal Article.
To avoid underpayment penalties, you generally must prepay more than 90% of your current year tax liability or 100% of your prior year tax liability.
You don’t have to be a pack rat to keep complete, organized financial records. Read our tips on what to keep and for how long.
If you find that you’re paying more than you think you should for auto insurance, there are ways you can lower your premiums.
The process of changing the percentage of assets invested in different asset classes is known as reallocation or redesigning. We explain how in this week’s Marietta Daily Journal Article.
Borrowers may find they need to provide lenders with additional documentation that they may not have had to in the past.
As the end of the 2013 tax year approaches, we’ve listed some things to keep in mind as you consider potential year-end tax moves. Read on in this Tax Tip.
If you are looking at your investments at year end, it is a good time to evaluate your investment decisions. We explain how in this week’s Marietta Daily Journal Article.
For 2013, if you are age 70½ and older, you are allowed to make direct distributions (up to $100,000) from your Traditional or Roth IRA account to a charity. Read more in this Tax Strategist.
Many higher-income taxpayers are in for a shock when their 2013 income tax returns are prepared. In 2013, a significant number of tax increases, and new limitations on deductions, will impact higher income taxpayers. Read more in this Tax Strategist.
You can broaden your personal auto policy coverage or delete certain exclusions by adding an endorsement. Learn how in this Insurance Tip.
You can broaden your personal auto policy coverage or delete certain exclusions by adding an endorsement. Learn how in this Insurance Tip.
If you are able to plan your pension withdrawals, you can save considerable tax dollars. Read all about it in this Tax Tip.
Investment selection is just one of the many aspects to consider when deciding to roll a 401(k) to an IRA. Read more in this Financial Tip.
In order to claim substantial reductions in current income tax liabilities and possibly increase cash flow, an investor must first begin by properly classifying investments in a building between real and personal property. Cost segregation allows a taxpayer to separately depreciate components of a building over a shortened depreciation period. For more information on cost segregation and to determine if a study will benefit you, read this C.P.A. Insight.
Only 23.8% of eligible participants took advantage of the catch-up contribution feature in their 401(k) plan. Learn more in our Business Tip.
Unless you want to pay taxes on money you didn’t earn, be careful when you buy mutual fund shares in December. Read the Article
Cobb Chamber recognizes Henssler Financial and 19 other local businesses with the Sam Olens Business Community Service Award. Read More
Your auto insurance policy generally covers you if you’re in an accident, but there are incidents that are not covered. Read more in this Insurance Tip.
In general, tax-free bonds are likely to be more attractive to taxpayers in higher brackets, but are they right for you? Read all about it in this week’s Tax Tip.
Cost basis reporting for bonds is scheduled to begin in 2014, which may make calculating profits from bond sales easier. Learn more in this Financial Tip.
Both the self-employed and small businesses can establish retirement plans to provide benefits for you and your employees. Read more in this week’s Business Tip.
Starting a business soon? We have a checklist to help get you started with financing, taxes, insurance and more. Read more in this Business Tip.
Personal injuries and property damage are the big-ticket items covered by your personal auto policy. Learn what else is covered in this Insurance Tip.
If you’ve sold your home this year, you may be able to exclude up to $250,000 of home sale capital gain. Read more in this Tax Tip.
With year-end financial summaries rolling in, it’s a great time to evaluate your investments. Learn more in this Financial Tip.
Do you know who is covered on your Personal Automobile Policy? Best to know before you need it. Find out in this Insurance Tip.
You can protect your digital assets by including them in your estate plan, just as you would your physical assets. Read more in this Financial Tip.
The President announced that insurers may elect to allow consumers to keep noncompliant insurance policies through 2014. Read all about it in this special Insurance Tip.
Businesses have some hefty tax breaks expiring at year-end. Luckily, there is still time to take advantage of them. Read all about them in this Tax Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how you have to spend money to make money when starting a business. Read the Article
There is no such thing as an interest-free loan, even if you are an executive of a nonpublic company. Read more in this Business Tip.
Your auto policy covers your injuries and damage, and depending on the situation, other people, vehicles, and property. Read more in this Insurance Tip.
Social Security beneficiaries will receive a 1.5% cost-of-living adjustment for 2014. Learn more in this Financial Tip.
In this week’s Atlanta Business Chronicle, Bil Lako, CFP® shares his insight on year-end cash flow planning for businesses. Read the Article
To make the most of your Tax Deductions, it may be beneficial to itemize deductions on your tax return. Learn all about it in this Tax Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® discusses the financial event few people are prepared for: an inheritance. Read the Article
If a sale of a closely held business is between family members or friends, the sale price may reflect that relationship. Read more in this Business Tip.
Retirement plan contributions limits for IRAs and employer-sponsored retirement plans remain unchanged for 2014. Learn more in this Financial Tip.
The portability of a deceased spouse’s unused estate tax exemption can greatly affect a surviving spouse’s estate taxes. Read all about it in this Tax Tip.
The ACA requires that most U.S. citizens and legal residents apply for qualifying health insurance by March 31, 2014. Learn what to do in this Insurance Tip.
Flexible spending account plans may adopt a new $500 carryover rule, modifying the “use-it-or-lose-it” rule. We explain in today’s Marietta Daily Journal.
It’s important to plan for long-term care because the odds of needing it are high and costs are rising. Read more in this Insurance Tip.
Your employers may be providing a number of tax-advantaged benefits that you should take advantage of. Learn what they are in this Tax Tip.
If you are receiving disability or retirement Social Security benefits, your child may be able to receive benefits too. Learn more in this Financial Tip.
Bil Lako, CFP®, discusses the financial event of divorce and how a team of experts can help you avoid poor financial decisions. Read the Article in Today’s Marietta Daily Journal
In a partnership business entity, items of income, loss, deduction, and credit pass through to the partners. Read more in this Business Tip.
You are not required to make changes, but review your options before you decide to stay with your current Medicare plan. Learn more in this Insurance Tip.
Gambling losses can be deducted, but the IRS has some strict guidelines as to how losses must be documented. Learn what they are in this Tax Tip.
Want buckets of money? If you’re retired a “bucket” strategy may help you turn your next egg into ongoing income. Find out how in this Financial Tip.
As a business owner, you need to determine if you have outgrown your business advisers and the services they provide. We explain in today’s Marietta Daily Journal. Read the Article.
The good news is that there are several tax-free options that can help you pay for long-term care insurance. Read all about them in this Insurance Tip.
The new Unearned Income Medicare Contribution Tax kicks in this year. Find out if you may be affected in this Tax Tip.
When gifting or transferring property during your lifetime or at your death, you may want to consider the tax basis. Learn more in this Financial Tip.
Businesses have an opportunity to change their tax situation with expiring credits and deductions. Read the Article
Small businesses can take advantage of a tax credit for paying health insurance premiums for their employees. Read all about it in this Business Tip.
No-fault insurance is where your insurance company pays your bills regardless of who or what caused the accident. Read more in this Insurance Tip.
With new and increased taxes, check your withholdings to make sure they equal 90% of your tax liability for the year. Learn more in this Tax Tip.
Do you know the difference between nominal return and real return on your investments? Find out in this Financial Tip.
Ted Parrish, CFA, explains his appreciation for Betty Siegel’s legacy at Kennesaw State University in the Marietta Daily Journal. Read the Article
Join us in congratulating the 15 Henssler Associates who have been listed on the 2013 Five Star Wealth Manager list!
In today’s Marietta Daily Journal, Bil Lako, CFP® addresses whether you should have an annuity in an IRA. Read the Article
You may want to consider gifting your business interest to reduce the size of your estate. Learn more about it in this Business Tip.
The beneficiary of your life insurance policy cannot be changed in your Will. Read all about it in this Insurance Tip.
If you are renting your home, you need to be aware of the complicated tax rules known as the “vacation home rental rules.” Read more in this Tax Tip.
You could consider “recharacterization” a financial mulligan—it undoes your Roth conversion. Learn more in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® discusses why annuities should be measured for their risk transfer. Read the Article
Are you ready for your vocabulary quiz? Read up on 25 terms you should know about the principles of bookkeeping. Learn more in this Quickbooks Tip.
Since you know how income, capital gains and dividends will be taxed, you can now fine-tune your long-term plan. Find out how in this Financial Tip.
Understanding the potential tax advantages can relieve some of the financial burden associated with being a caregiver. Learn more in this Tax Tip.
By offering creative, low-cost benefit programs, you can differentiate your business from other potential employers. Learn more in this Business Tip.
Unless you provide liquid assets to cover expenses at death, the executor of your estate may have to sell assets. Read more in this Insurance Tip.
The IRS has rules that can help military members lower their federal taxes and make it easier to file their tax returns. Read all about it in this Tax Tip.
The student loan “debt clock” reached the $1 trillion milestone last year. Is this the next bubble? Read more in this Financial Tip.
When you apply for Social Security, you may be eligible for a spousal benefit. Bil Lako, CFP®, provides details. Read the Article
Businesses are responsible for all payroll taxes due regardless of whether you outsource or handle your own payroll. Learn more in this Business Tip.
Ted Parrish, CFA, provides comments on The Boeing Company’s (NYSE: BA) recent success to CNNMoney. Read the Article
IRAs pass to who is listed on your beneficiary forms, regardless of what you outline in your Will. Learn more in this Tax Strategist.
If you and your ex have joint custody of your child, who gets to claim the child as a dependent? The IRS has some rules. Learn more in this Tax Strategist.
Relocating for work? It’s important to consider how your new location may affect your bottom line. Learn more in this Financial Tip.
You research stocks, but have you researched your financial adviser? Bil Lako, CFP®, explains how in today’s Marietta Daily Journal. Read the Article
Transferring your business interest to your children may incur gift and estate taxes. Careful planning can help. Learn more in this Business Tip.
Legally married same-sex couples are treated as married for all federal tax purposes. Learn more in this Tax Tip.
Learn from the mistakes of celebrities—estate planning is crucial and should not be a do-it-yourself project. Read more in this Financial Tip.
A financial plan should be designed to take you from your present situation to where you want to be. Read the Article in Today’s Marietta Daily Journal
As a business owner, understanding some of the many types of financial risk may help you make more informed decisions. Learn more in this Business Tip.
When your life circumstances change, you have an opportunity to ensure loved ones are protected through life insurance. Read all about it in this Insurance Tip.
September 16 is the extended due date for partnership, S-corporation, and trust tax returns. Read more in this Tax Tip.
Can you make health-care or financial decisions on your spouse’s behalf if your spouse is unconscious? Learn why you need a Power of Attorney and Medical Directive in this week’s Financial Tip.
While you can take Social Security benefits early at 62, you are limited on what you can earn without reducing benefits. Read the Artice in Today’s Marietta Daily Journal
A COLI is commonly used as an informal funding vehicle for nonqualified deferred compensation (NQDC) plans. Read all about it in this week’s Business Tip.
The capital liquidation approach for life insurance allows you to spend less to cover your family’s ongoing income needs. Learn more in this Insurance Tip.
The Kennesaw State Owls Athletics interviewed former men’s basketball star and current Henssler Principal Ted Parrish, CFA. In the interview, Ted discusses how the relationships he developed as a student athlete helped prepare him for his life outside of the gym. Read the interview.
The taxable nature of disability benefits depends on if premiums were paid with pretax dollars and who paid them. Read more in this Tax Tip.
Your retirement lifestyle will depend on your investment choices and how quickly you draw down your retirement portfolio. Learn more in this Financial Tip.
Bil Lako, CFP® shares why grandparents should transfer ownership of a 529 plan to the parents. Read why in today’ Marietta Daily Journal.
Beginning in 2015, large employers will be required to offer health coverage for all full-time employees. Learn more in this Business Tip.
There are some general guidelines that you can use to calculate a basic amount of insurance coverage for yourself. Learn these “Rules of Thumb” in this Insurance Tip.
Feeling generous? Gifting money or property? Read our eight tips to determine if your gift is taxable in this week’s Tax Tip.
Through the power of compounding, you could be a millionaire. Learn how in this Financial Tip.
The IRS will look at several aspects and issues before determining if your hobby is a for-profit business. Read all about it in this Business Tip.
Death is an unpleasant subject, and life insurance raises issues of our own mortality. But it doesn’t have to be that way. Read more in this Insurance Tip.
In 2014 Americans, with certain exceptions, are required to have minimal, essential health care insurance. Read more in this Tax Strategist.
As a way to partially pay for provisions in the new health care law, put a cap of $2,500 on FSA contributions. Read more in this Tax Tip.
Need a new car? Our handy chart breaks down the differences on eight critical points for buying vs. leasing your next car. Learn more in this Financial Tip.
The main purpose of life insurance is to create an estate to take care of your heirs if you should die. Therefore, we believe the time when your need for life insurance is at its greatest is when you are young with young children. As you grow older, your need for life insurance diminishes. This means you may not need the same level of asset protection as you did when you were young. We explain in this Insurance Tip.
Tuition payments to a qualified educational institution are exempt from the gift tax rules. This means that you, a grandparent, or anyone can gift a child $14,000 and also pay their college tuition. Learn more in this Tax Tip.
Risk-adjusted return is the measure of return per unit of risk. It is a backwards looking measurement. We do not believe you can judge a portfolio on risk-adjusted return alone. We explain in this Financial Tip.
Strategy isn’t just for saving. Bil Lako, CFP®, explains 529 plan withdrawal strategy in today’s Marietta Daily Journal. Read the Article.
Quickbooks’ tools can help you document received inventory and can help prevent you from recording the same items twice. Learn how in this Business Tip.
Be sure your insurance agent or broker has enough experience to give you the proper guidance in choosing your coverage. Learn more in this Insurance Tip.
Congress included a tax credit in the health care law to help lower income individuals pay for their health insurance. Learn more in this Tax Tip.
A payable on death bank account can be designated as payable on death to someone of your choice. Learn more in this Financial Tip.
Congratulations to Henssler Financial for being included in the 2013 Financial Advisor magazine Top RIA Ranking! View the List
Is your 529 Plan giving you bang for your buck? If not, Bil Lako, CFP®, explains how you can make changes in today’s Marietta Daily Journal. Read the Article
Who is eligible for a home office deduction is still complicated, but how the deduction is calculated has become easier. Read more in this Business Tip.
The Affordable Care Act will require individuals to have health insurance in 2014, but there will be a few exceptions. Learn more in this Insurance Tip.
Placing a bill or two in your church’s collection plate? Better get a receipt if you want a tax deduction. Learn more in this Tax Tip.
If you’re near retirement, you need to consider your longevity and whether your portfolio will last as long as you do. Read more in this Financial Tip.
How much money do you need to retire? Bil Lako, CFP® explains the complicated equation in today’s Marietta Daily Journal. Read the Article
Many business travel related expenses are deductible, but there are rules that you must follow. Read all about it in this Business Tip.
Tax-deferred annuities can be a valuable tool, but there are other tax-deferred savings plans to consider first. Read more in this Insurance Tip.
At age 70½, you’ll face several decisions regarding your retirement accounts that will affect your taxes. Learn more in this Tax Tip.
Investment jargon often sounds like a foreign language. Read our primer on understanding investment terms and concepts in this Financial Tip.
QuickBooks’ progress invoicing feature will let you bill customers for one segment of a large project as they come. Learn how in this Quickbooks Tip.
Bil Lako, CFP® explains how your need for financial planning continues through retirement. Read the article in today’s Marietta Daily Journal.
Read our list of eight items you should consider when buying a long-term care insurance policy. Learn more in this Insurance Tip.
Ted Parrish, CFA, joins Chuck Jaffe on Money Life Show to discuss our investment strategy and offers some stock picks. Listen to the Interview
Ted Parrish, CFA, joins Chuck Jaffe on Money Life Show to discuss our investment strategy and offers some stock picks. Listen to the Interview
The estate of the first spouse to die can elect to transfer any unused exclusion amount to the surviving spouse. Read more in this Financial Tip.
When flipping a house, your taxes will be different, depending upon whether you are a dealer, an investor or a homeowner. Read more in this Tax Strategist.
As a high-income earner, an installment sale may help avoid additional taxes by spreading the income over multiple years. Read all about it in this Tax Tip.
Competing financial goals? A mid-year financial checkup can help ensure you’re not sacrificing one goal for another. Read the Marietta Daily Journal Article
In your 50s, during your mid-year financial checkup, consider test driving your retirement plan. Read the article in today’s Marietta Daily Journal.
Business owners: Paying yourself and your vendors with cash? It may not be such a good idea. Read all about it in this Business Tip.
Join us in congratulating D.J. Barker, CWS® and K.C. Smith, CFP® on their promotions to Senior Associate.
Cashing in a life insurance policy? First, understand how the surrender value is determined and your alternatives. Read more in this Insurance Tip.
The White House delays employer health insurance mandate until January 1, 2015. Read more in this News Flash.
When donating property for a tax deduction, the IRS has guidelines to help determine the items’ fair market value. Learn more in this Tax Tip.
The interest rate on federal subsidized Stafford Loans increased from 3.4% to 6.8% for loans taken out after July 1, 2013. Read more in this Financial Tip.
Most homeowners insurance policies cover damage from severe weather, but depending on where you live, it may be excluded. Learn more in this Insurance Tip.
Being self-employed is liberating, but it comes with increased tax responsibilities. It may be time to find an accountant. Learn more in this Business Tip.
To amend or not to amend? In today’s Marietta Daily Journal, Bil Lako, CFP®, highlights when you should consider amending a return. Read the Article
The Small Business Administration generally does not loan directly to businesses, but guarantees loans provided by banks. Read more in this Business Tip.
You’ll want to purchase insurance that is specifically geared to provide coverage for your vacation home. Read all about it in this Insurance Tip.
Both the personal exemptions and itemized deductions will phase out for higher income taxpayers this year. Learn more in this Tax Tip.
Both the personal exemptions and itemized deductions will phase out for higher income taxpayers this year. Learn more in this Tax Tip.
A financial plan is critical when you have a chronic illness as you can tailor it to your unique needs. Learn more in this Financial Tip.
With restricted stock shares, you may be withholding less than your marginal tax rate and creating a concentrated position. Read the Article
A rabbi trust helps protect employees’ deferred compensation by holding the plan assets apart from the corporation. Read more in this Business Tip.
By law, businesses are 100 percent responsible for providing workers’ compensation benefits. Learn all about it in this Insurance Tip.
Some employee benefits may be subject to income tax to the employee if they discriminate in favor of executives. Read more in this Tax Tip.
For the economy as a whole, rising home prices often serve as an indicator that the economy is performing better. Read more in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how restricted stock is taxed, and the pros and cons of the 83(b) election. Read the Article
If you contribute property or services in exchange for a partnership interest, there may be tax consequences. Learn more in this Business Tip.
It may contain technical jargon, but your health insurance policy isn’t as difficult to understand as you think. Find out in the Insurance Tip.
You should never ignore a letter from the IRS. Most can be dealt with simply and painlessly. Read more in this Tax Tip.
You may think of risk in terms of loss, but you should also think of it in terms of not meeting your financial goals. Learn more in this Financial Tip.
Bil Lako, CFP®, explains in today’s Marietta Daily Journal how some employers may offer shares of restricted stock as compensation. Read the Article
Printing checks from QuickBooks has gotten easier, but precision is still required. Learn more in this Quickbooks Tip.
Ted Parrish, CFA, joined Fox Business to discuss his outlook on the housing and stock markets if the Fed slows bond buying. Watch the Video
You have life insurance through your work. But what happens to it if you leave the company? We explain in this Insurance Tip.
Energy-related tax incentives are fading, but a few remain, including some for home improvements and plug-in vehicles. Read more in this Tax Tip.
Fees and expenses are factors that may affect your investment returns, and therefore impact your retirement income. Read more in this Financial Tip.
Coworking and “collaborative consumption” has helped small-business owners find new ways to secure resources. Learn all about it in the Business Tip.
Will your homeowners insurance cover you if your dog bites your neighbor? Consult the liability section of your policy. Learn more in this Insurance Tip.
Now that your taxes are filed, how long should you hold on to your documentation? Read this week’s Tax Tip before you shred!
In 2013, if you make more, you’ll be taxed more thanks to the 2012 American Taxpayer Relief Act. Read more in this Tax Tip.
Social Security provides about 40% of your preretirement income. Consider coordinating your benefits with other savings. Read more in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains why 401(k) plans may oust former employees who participate in the plan. Read the Article
Business owners: You have to spend money to make money. You still have tax perks to make business purchases. Read all about it in this Business Tip.
HSAs celebrate their 10th anniversary in 2013. If you are eligible to save money in an HSA but don’t currently take advantage of it, you may want to consider whether its many potential benefits may be right for you. Learn more in this Insurance Tip.
Failing to report an item of income can often generate an IRS inquiry. Solution? File an amended return. Read all about it in this Tax Tip.
If money is precious, it is even more precious when it goes toward a vacation! Read 15 way to save on your next getaway in this week’s Financial Tip.
Warning to high income earners: You may be subject to surtaxes on certain wages and investment income. Read more in this Tax Strategist.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how children are susceptible to ID theft. Read the Article
Insurers use complicated formulas for calculating premiums. Understanding it can help you find ways to lower your premium. Read more in this Insurance Tip.
The President’s budget proposal aims to limit tax deductions and increase small-business retirement plan participation. Learn more in this Tax Tip.
Think you’ll be able to save later for retirement? Not likely. We explain the fallacy in four common retirement myths in this week’s Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains the options for student loan payments when financial hardships happen. Read the Article
A successful succession plan addresses management succession as well as ownership and estate planning issues. Learn more in this Business Tip.
Considering buying a shiny new car for your graduate? Better review your car insurance options too! Learn more in this Insurance Tip.
You bought the best car seat for your new baby. Now protect your child by updating your Will and beneficiary forms. Learn more in this Financial Tip.
If you have a low-income career, and education loans to repay, the government offers income-based payment options. Read our article in today’s Marietta Daily Journal
QuickBooks offers a wide array of formatting options to help you create custom, precise purchase orders. Learn more in this Business Tip.
Through a health insurance exchange, you can compare health plans based on coverage options, deductibles, and cost. Read all about it in this Insurance Tip.
Just because your taxes are done doesn’t mean tax scams are over. Remember, the IRS will not contact you by email. Read more in this Tax Tip.
Medicare alone may not be enough to cover your health-care needs in retirement. Medicare coverage comes with deductibles, co-payments or coinsurance costs for many types of treatments, including hospitalizations. Typically, the deductible amounts are increased each year. If you’re not prepared to pay these expenses out of pocket, we explain why you may want to consider a Medigap policy.
Master Limited Partnerships (MLP) are a type of limited partnership that is publicly traded. The advantage of an MLP is that it combines the tax benefits of a limited partnership with the liquidity of a publicly traded company. We explain how MLPs can greatly complicate a tax situation.
A lower interest rate often means a lower monthly payment if the terms of the refinanced mortgage are the same as the original mortgage. In this article, we explain how refinancing your mortgage allows you to take control of how your money works for you.
Affected by storms? Here are some things you can do before and after a natural disaster to help you recover quickly. Read more in this Financial Tip.
Henssler Financial is pleased to announce that it has been selected as one of The Atlanta Journal-Constitution Top 100 Workplaces.
When you borrowed $65,000 in school loans did you know you’d need to earn nearly $90,000 to pay for them? Read our article in today’s Marietta Daily Journal
A contingency plan can mean the difference between the survival and the failure of your business after your death. We explain in this Business Tip.
The Affordable Care Act has been law for three years now. Many provisions are in effect, but several begin in 2014. Learn more in this Insurance Tip.
If you are wining and dining a potential large contributor on behalf of a charity, the cost is tax deductible. Learn more in this Tax Tip.
Employers have until Apr 29, 2013 to file forms with their state employment agency for the Work Opportunity Tax Credit. Read more in this Business Tip.
If you have multiple student loans, you may want to consider loan consolidation to make your payments more manageable. We explain in today’s Marietta Daily Journal
Teens are the riskiest drivers on the road, but it is possible to reduce the expense of insuring them. Learn how in this Insurance Tip.
IRS2Go is the IRS’ first smartphone application that let’s taxpayers check on the status of their tax refund. Learn more about it in this Tax Tip.
The 2012 Tax Act permanently extended gift tax and estate tax applicable exclusion amount portability between spouses. Read all about it in this Financial Tip.
Congratulations to our President and CIO, Gene W. Henssler, Ph.D., for making Barron’s Top 100 Advisors list (Apr 15, 2013 issue).
Busted budget? That does not mean your budget cannot work. It means you need to set a more realistic target. We explain in today’s Marietta Daily Journal
It’s good practice to have independent contractors complete and sign IRS Form W-9 the first time you use their services. Learn why in this Business Tip.
Without proper planning, the beneficiaries of your life insurance policy may not receive the maximum benefit you intended. Read more in this Insurance Tip.
With the tax deadline fast approaching, we offer six last-minute tips for your federal tax return in this week’s Tax Tip.
Do you know the basic facts on our country’s largest entitlement programs, Social Security and Medicare? Find out in this Financial Tip.
April 15th is the last day to make 2012 IRA contributions and the deadline to pay first quarter 2013 estimated taxes. Learn more in this Tax Strategist.
Among the many new taxes, high income earners will also see a new top marginal tax rate of 39.6% and higher capital gains. Learn more in this Tax Strategist.
In today’s Marietta Daily Journal, Bil Lako, CFP® provides guidance on creating your household budget. Read the Article
Your business structure affects how distributions of cash or property to owners are taxed. Read more in this Business Tip.
Do you have to pay income taxes on employer contributions to your health insurance? Find out in this Insurance Tip.
Ted Parrish, CFA, joins Yahoo Finance “Breakout” to say why he thinks Apple, Inc. is just “out of favor.” Watch the Interview
Did your Roth-converted IRA decline in value? You have until Oct 15, 2013 to completing recharacterization. Learn more in this Tax Tip.
Mortgage lenders are tightening up their mortgage lending requirements. We offer three tips to help you qualify in this week’s Financial Tip.
“There’s more clarity now than there was six months ago,” says Bil Lako, CFP® in today’s Marietta Daily Journal.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains why “pay yourself first” is one of the most important steps in your budget.
Some businesses pay taxes on business income, while others act as pass-through entities. Learn more in this Business Tip.
Health care reform made some modifications to Medicare including free preventative care and “donut hole” rebates. Read all about it in this Insurance Tip.
Mortgage loan modification may affect your taxes, as you may have to realize the cancellation of debt. Read more in this Tax Tip.
Cost-of-living adjustments help keep inflation from eating away your retirement income. Learn more in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako CFP®, provides a few formulas to help you determine your level of debt.
A buy-sell agreement funded with life insurance can provide cash to your family and ensures your company’s continuity. Read more in this Business Tip.
If you have the time and can muster the patience, it’s a good idea to read through your policy. Learn how in this week’s Insurance Tip.
They may be rare, but there are still some energy efficient tax credits available. Learn more in this Tax Tip.
Have you made your 2012 IRA Contribution yet? You still have time. Learn more in this Financial Tip.
Higher-income taxpayers will feel a significant increase in taxes for which they need to prepare. We highlight two in this Tax Strategist.
Bil Lako, CFP® highlights some staggering consumer debt statistics (a total of $11.34 trillion) in today’s Marietta Daily Journal.
You may have heard a lot of myths about the Affordable Care Act. We separate healthcare fact from fiction in this week’s Insurance Tip.
You announced your nuptials to family and friends, but don’t forget to notify the SSA, IRS and USPS. Read more in this Tax Tip.
A grantor retained annuity trust may allow you to transfer assets to heirs while minimizing gift taxes. Read all about it in this Financial Tip.
It might be nice to never have a mortgage payment; however, paying cash for your house is not always the best choice. We explain in today’s Marietta Daily Journal. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be…
Home office deductions have always been tricky. For 2013, the IRS tried to simplify it with a safe-harbor method. Read all about it in this Business Tip.
It is possible to make disability insurance more affordable—and it’s often one policy that is too important to go without. Read how in this Insurance Tip.
Will wellness services be a benefit in your health care plan in 2014? Check the recently issued minimum benefits list.
You have the option of directing your tax refund to multiple accounts with direct deposit. Learn more in this Tax Tip.
The more you can save for retirement the better! Learn how to get the most out of your 401(k) plan in this week’s Financial Tip.
Henssler expands its commitment to Kennesaw State through scholarships and helping establis KSU’s first overseas campus.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how some may be able to use a reverse mortgage to augment long-term cash flow
A business plan tells the story of your company, illustrating where you are now and where you hope to be in five years. Learn more in this Business Tip.
“Let the higher up be responsible.” Sounds nice–until your employee gets into an auto accident with the company vehicle. Learn more in this Insurance Tip.
Be careful when completing the W-4 form because errors can create some significant financial problems. Read about about it in this Tax Tip.
Considering your parents live could spend 25+ years in retirement, you may not want to count on a large inheritance. Read more in this Financial Tip.
Accept Visa? Your customers love you for it, but as a business owner, you need to understand payment processing fees. Learn more in this Business Tip.
If Fido is considered a member of the family, you may consider pet insurance to provide for his health care costs. Learn all about it in this Insurance Tip.
The 2012 Tax Act includes several provisions for small businesses—many of which were retroactive for 2012. Learn more in this Tax Tip.
If you need to tap the funds in your IRA, you may be able to avoid the early 10% withdrawal penalty. Read more in this Financial Tip.
Bil Lako, CFP® discusses the financial advantage to refinancing a mortgage in today’s Marietta Daily Journal.
If you own a business, you likely receive compensation through wages and dividends. But which is better? Find out in this Business Tip.
Long-term care insurance can be cost prohibitive, but there are alternatives. Read all about them in this week’s Insurance Tip.
The penalty for failing to report specified foreign financial assets for a tax year is $10,000! Learn more in this week’s Tax Tip.
Tired of low interest rates? Us too. However, they can be beneficial for certain estate planning strategies. Learn more in this Financial Tip.
2012’s tax act made some rules retroactive for 2012, causing a delay in filing and for the IRS to process returns. Read our article in today’s Marietta Daily Journal This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be…
Did your home’s pipes burst after a hard freeze? Winter storm damage may or may not be covered on your homeowner’s policy. Read more in this Insurance Tip.
Identity thieves know you’re intimidated by the IRS, which is why they may try to use your tax refund as bait. Read all about it in this Tax Tip.
Sure you pay Social Security taxes, but how much do you know about the actual program? Learn more in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, highlights more tax law provisions including estate tax and mortgage debt relief. Read the Article This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented…
Capital gains are generally taxed, but if you’re selling a sole proprietorship, you may have some flexibility. Read more in this Business Tip.
Tired of the cold and snow? Before you escape to warmer climates, could you afford it if you had to cancel the trip? Learn more in this Insurance Tip.
It’s an honor to be a nominee…or that is what award shows will have you think. But what if we’re talking 1099s? Learn more in this Tax Tip.
A child’s financial education can start before they can count. As a parent, they look at you as a financial role model. Read all about it in this Financial Tip.
Rapidly growing business? Consider planning for business expansion, including buying other businesses or franchising. Learn more in this Business Tip.
If you were to become disabled, would your business survive without you? Luckily, there is an insurance for that. Learn all about it in this Insurance Tip.
You’ve got homework! Lots of things happened last year, and it may affect your taxes–time to pull your records together! Learn more in this Tax Tip.
Congress made numerous changes to the tax code that affect all taxpayers—not just the “rich.” Review the major provisions. Learn more in this Tax Strategist.
If your adjusted gross income is more than $300,000, you’ll see decreases in your tax deductions. Read our article in today’s Marietta Daily Journal. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material…
You can rent property to your business when you own real estate or personal property that your business can use. Find out how in this Business Tip.
The IRS has provided guidance on how qualified charitable distributions can satisfy an IRA owner’s RMD for 2012 and 2013. Learn More in this Tax Tip.
College health plans vary widely in their coverage, so you should consider several points before your child signs up. Learn more in this Insurance Tip.
What’s a fair wage for an employee-shareholder? The IRS determines if compensation is reasonable on a case-by-case basis. Learn more in this Tax Tip.
It has a specified termination date and investors buy and sell its shares on the secondary market. But what is a UIT? Find out in this Financial Tip.
Smaller paychecks in 2013? It’s true. The payroll tax holiday was not extended. Read our article in today’s Marietta Daily Journal. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented is…
The IRS has announced it will begin accepting 2012 tax filings on January 30, 2013. Learn more in this Tax Tip.
Business owners: Do you know what it costs to accept credit cards? Read all about it in this Business Tip.
Overwhelmed at the fees charged by your annuity issuer? We provide some insight on the charges you may be paying in this week’s Insurance Tip.
2013 is here and so is Obamacare. Bil Lako, CFP®, highlights some provisions that become effective this year. Read the Article This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented is…
In the Game of Life, the key to happiness is living within your means, regardless of your generation. Learn more in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP®, highlights how Congress’ “fiscal cliff” legislation affects you. Read the Article
Employers can use bonus plans whenever they want to attract, motivate, and retain key employees. Read more in this Business Tip.
Single seeking…life insurance? You might not think you need it, but some people may benefit from having a policy. Learn more in this Insurance Tip.
With tax season starting, identity thieves may prey on your lack of tax knowledge to obtain your identity information. Learn more in this Tax Tip.
Those who travel for work have unique insurance needs. If you’re frequently on the road, read this week’s Insurance Tip.
Capital gains and related issues make up approximately half of the tax code. Is reform in our future? Read all about it in this week’s Tax Tip.
Before you raid your 401(k) balance for a loan, you should carefully consider the long-term opportunity cost. Learn more in this Financial Tip.
In today’s Marietta Daily Journal, Bil Lako, CFP® explains the 3.8% Medicare Surtax with some examples. Read the Article This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented is compiled from…
Giving a car with a luxurious big bow as a holiday gift? Don’t forget to evaluate and compare auto insurance coverages. Learn more in this Insurance Tip.
To understand the enormity of the fiscal cliff, here is a rundown of the more significant expiring tax provisions. Read all about it in this Tax Tip.
A reverse mortgage can help provide financial security for seniors, but it is not a solution for everyone. Learn more in this Financial Tip.
What you thought was smart tax planning today could require you to pay an increased Medicare premium in 2014. We explain in today’s Marietta Daily Journal.
Giving to charity this holiday season? Ensure your generosity goes far by checking out your charity first. We explain in this Marietta Daily Journal blog post.
Meals and entertainment expenses may be tax deductible. The IRS has strict rules on what qualifies. Read more in this Business Tip.
2013 will be a significant year for health care. We highlight some of the provisions that may affect you in this Insurance Tip.
The tax code includes a number of incentives that can provide tax benefits when obtaining a higher education. Learn more in this Tax Tip.
If you are interested in the income of a real estate investment without becoming a landlord, you may consider a REIT. Learn more in this Financial Tip.
Local governments that have issued direct-pay bonds, such as Build America Bonds, should be aware that their subsidies from the federal government on those bonds are potentially subject to the budget cuts mandated as part of the so-called “fiscal cliff.” Those subsidy payments cover 35% of the interest costs on direct-pay bonds. Should the scheduled sequestration take effect, subsidies on direct-pay bonds would be cut an average of 7.6%, according to the Office of Management and Budget.* Issuers would typically be responsible for making all interest payments on their own. Build America Bonds have not been issued since 2010.
Noninterest-bearing transaction accounts, used by many small businesses, local governments, and nonprofit organizations, have had unlimited deposit insurance from the Federal Deposit Insurance Corporation since the 2008 financial crisis. However, that program is scheduled to expire as of December 31, 2012. The previous limit of $250,000 on a single account will be reinstated unless new…
Businesses: Don’t forget to issue contractors Form 1099-MISC if you paid them more than $600 for services during the year. Learn more in this Business Tip.
The main goal of debt consolidation is to make your payments more affordable—but can it hurt your credit rating? Read more in our Marietta Daily Journal blog post. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by…
In this week’s Marietta Daily Journal, Bil Lako, CFP® highlights some of the many ways the IRS wants you to calculate your MAGI. Read the Article This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler…
Love giving to your favorite charity? Consider making them the beneficiary of your life insurance policy. Learn more in this Insurance tip.
Charitable giving can be enhanced using income tax deductions. Consider including it as part of year-end tax planning. Learn more in this Tax Tip.
There are two aspects of financial risk tolerance: your ability to absorb losses, and how comfortable you are with risk. Learn how to measure your risk tolerance in this Financial Tip.
In today’s Atlanta Business Chronicle: Bil Lako, CFP® explains how the young often believe they will live forever and can invest later in life. Read the Article This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by…
Without congressional action, the alternative minimum tax is projected to affect more than 31 million Americans for 2012. Read our article in today’s Marietta Daily Journal. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial.…
Business owners: Want to know what’s selling and what is not? QuickBooks can tell you, if you’ve defined items correctly. Learn more in this Business Tip.
While life insurance is a useful way to provide for your heirs, there are potential tax traps that you may want to avoid. Learn more in this Insurance Tip.
If you think you’ll need new business equipment or furniture next year, you may want to make that purchase in 2012. Read all about it in our Marietta Daily Journal blog post. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article…
With higher taxes ahead, you may consider tax-free interest investments. Still, you should consider your after-tax return. Read all about it in this week’s Tax Tip.
Borrowing money for college? You’ll likely receive a Stafford Loan as part of your financial aid. Read the highlights in this week’s Financial Tip.
Scared of mold invading your home? Home insurers are because mold can lead to dry rot, which can result structural damage. Read more in this Insurance Tip.
Even with the uncertainty, there are actions you can take before year-end that can save a considerable amount of tax. Read more in this Tax Strategist.
If you’re looking to reduce business profits before year-end, we highlight five tax-advantaged moves to consider. Read this Tax Strategist to learn more.
When the market is volatile, investors can get caught up in a vacuum of bad news. Bil Lako, CFP® explains what to do in today’s Marietta Daily Journal. Read the Article This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently…
An S corp is a small business entity that is treated as a regular corporation, except for special treatment under tax law. Learn more in this Business Tip.
The average yearly cost for long-term care is $74,820. Maybe it is time to review your long-term care insurance policy. Read more in this Insurance Tip.
When you do your taxes do you fall short of itemizing your deductions? You may benefit from using the “bunching” strategy. Learn more in this week’s Tax Tip.
Sending your kids to college? Save early and save often. Tuition and fees increased an average of 4.8% from last year. Read all about it in this week’s Financial Tip.
With higher taxes coming, it may be wise to consider a Roth conversion before 2013. Read all about it in this Marietta Daily Journal blog post. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler…
Post election—most certainly—changes are coming. We take a look at what we know today in today’s Marietta Daily Journal. Read the Article This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented…
Several cash management techniques exist to increase the inflow of cash and slow down the disbursements of cash. Learn more in this Business Tip.
Shopping for an insurance policy is no easy task. Don’t buy the features you don’t need. For more tips read this week’s Insurance Tip.
If you’re looking for a job in your own occupation, you may be able to deduct certain job search expenses. Learn more in this Tax Tip.
The “fiscal cliff” is the combo of expiring tax breaks, new taxes for high-income individuals and automatic spending cuts. Read all about it in this Financial Tip.
Love your sweetie, but not so much your sweetie’s credit score? Talk about your finances before you marry. Read more in our Marietta Daily Journal blog post. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by…
Keeping good business records will not only help you stay in business but may also help you increase profits. Learn more in this Business Tip.
Henssler Financial promotes Director of Operations to Chief Operating Officer.
Consider exchanging your annuity contract for a long-term care insurance policy. Learn more in this Insurance Tip.
If save to pre-tax retirement accounts, don’t forget to plan the withdrawals so that they are tax-advantaged as well. Read more in this week’s Tax Tip.
IRA limits are increasing in 2013, including how much you can save and income limits for determining tax deductibility. Read all about it in this Financial Tip.
If your health-care needs have changed, consider switching plans during Medicare’s open enrollment period. We explain in this Marietta Daily Journal blog post. Read the Article
In today’s Marietta Daily Journal, we provide steps you can take to prevent ID theft. Read the article. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making…
Use of temporary workers may help you business handle special projects, busy times, or seasonal work. Learn more in this Business Tip.
Consider asking your doctor for OTC medication prescriptions so you can pay for them with your flex spending account. Read all about it in this week’s Insurance Tip.
If you have been procrastinating about filing your 2011 tax return, or have prior year returns that have not been filed, you should consider the consequences. Learn more in this Tax Strategist.
With the potential tax law changes coming, think of this as a chance to fine-tune your planning efforts. Learn more in this Financial Tip.
Henssler Financial promotes key staff members to enhance client relationships.
Henssler Financial’s Live Ready philosophy recognized with quality service award.
When you find your parents slowing down with age, you may consider talking to them about their future care. Read more in our Marietta Daily Journal blog post. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded…
In today’s Marietta Daily Journal we explain the importance of checking your credit and what to look for when you check it. Read all about it. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler…
The benefits you offer to your employees should be as attractive as you can afford. Learn more in this Business Tip.
You can finance nursing home care by paying for it, buying long-term care insurance, or by using government benefits. Read all about it in this week’s Insurance Tip.
Research Analyst at Henssler Financial successfully completed requirements for globally recognized financial designation.
Bil Lako, CFP®, discusses how to use trusts to preserve wealth and minimize estate taxes in today’s Marietta Daily Journal. Read the Article All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be…
You can and should take steps now to control your future healthcare decisions with an Advance Directive for Healthcare. We explain in this Marietta Daily Journal blog post. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information…
QuickBooks is an extremely powerful tool. We highlight some of the programs hidden gems to help your productivity in this week’s Business Tip.
If you’ve earned income from renting your residence or vacation home, be aware of the complicated tax rules that apply. Learn more in this week’s Tax Tip.
Making large gifts in 2012? While it seems obvious, gifts should only be made if you can afford to part with the property. Read more in this week’s Financial Tip.
It has never been a good idea to rely solely upon estate tax’s portability as a shortcut to properly arrange your affairs. We explain in today’s Marietta Daily Journal. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes…
Sometimes “boot” is not your western kicks. “Boot” can be property a corporation gives you in addition to its own stock. Learn more in this week’s Business Tip.
Premium financing is often used when there is not enough cash to make large premium payments. Learn more in this week’s Insurance Tip.
You need to keep good records to track your tax basis in your investments. Basis ultimately affects the taxes you pay. Read all about it in this week’s Tax Tip.
2012 may present an opportunity to convert a traditional IRA to a Roth IRA at a potentially lower tax cost. Learn why in this week’s Financial Tip.
Some may want to consider taking advantage of a once-in-a-lifetime opportunity to pass wealth to heirs at a reduced tax cost. We explain in today’s Marietta Daily Journal. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only.…
Would your business be able to continue operations while you’re disabled? Surprisingly, there is an insurance for that. Learn all about it in this week’s Business Tip.
If you are thinking of buying a long-term care insurance policy, don’t be swayed by unsubstantiated sales pitches. Read all about it in this week’s Insurance Tip.
Estate planning for wealthy and less wealthy individuals alike deals with the same basic issues. We discuss the need for a will on the Marietta Daily Journal blog. Read the Article All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general…
The process of claiming an inheritance can be complex, and it helps to be aware of potential tax liabilities. Learn more in this week’s Tax Tip.
Statistically speaking, a woman will outlive her spouse. Read some advance estate planning concepts you should consider. Learn more in this Financial Tip.
The health care laws affect more than just high income tax payers. Here is an overview of how it will change your taxes. Learn more in this Tax Strategist.
Pets are property, and property cannot inherit other property, but you can provide for your pets once you’re gone. We explain in today’s Marietta Daily Journal. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided…
There can be a gap between the insurance you’re required to have and the amount you really need. We discuss on the Marietta Daily Journal blog. Read the Article All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes…
Looking for a benefit for highly compensated employees? Consider a 401(k) wraparound plan. Read more in this week’s Business Tip.
You have home and life insurance, but many people don’t think about protecting their income with disability insurance. Read more in this week’s Insurance Tip.
What AGI makes the top 5% of all individual tax filers? Probably not as much as you think. Find out where you fit in. Learn more in this week’s Tax Tip.
If you’re one of the millions of parents or grandparents who’ve invested money in a 529 plan, the arrival of a new academic year may be a good time to see how your plan stacks up against the competition. Mediocre investment returns, higher-than-average fees, limited investment options and flexibility—these are some of the things that might have you thinking you could do better with another plan. Learn more in this Financial Tip.
You can outline what you want done with your Facebook and Twitter accounts when you die in a VAIL. We explain today’s Marietta Daily Journal.
To incorporate or not to incorporate—that is the question of many small-business owners. Read this business tip for some points to consider.
Your spouse may have owned more than one type of life insurance policy. Remember, you have to claim a benefit to be paid. Learn more in this Insurance Tip.
Paying for an education? With proper planning, you should be able to take advantage of the available tax benefits. Learn more is this week’s Tax Tip.
You should consider whether the benefit of a large gift in 2012 could be recaptured later if estate and gift laws change. Read all about it in this Financial Tip.
We highlight some commercially available records and information organizers for your family finances in our Marietta Daily Journal Blog column.
It takes money to grow your business, but thankfully the tax code provides incentives to business owners to expand. Learn more in this Business Tip.
Is a child worth protecting with life insurance? Generally, no, but we highlight the few reasons in our Insurance Tip. Read more in this Insurance Tip.
Business can use QuickBooks reports to track inventory, helping you find the sweet spot between too much and too little. Learn more in this Quickbooks Tip.
In today’s Marietta Daily Journal, we discuss organizing your critical documents should something happen to you. Read all about it. Get our guide for organizing records All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided…
Business tax deductions can be quite complex. Here are some tips that will help you take the deductions that you deserve. Learn more in this week’s Business Tip.
A vehicle’s sticker price, the chance it will be damaged in a crash, and high repair costs can affect your insurance. Learn more in this Insurance Tip.
Borrowing $3,000 from your 401(k) for college expenses doesn’t seem like much until you see a tax bill of $1,320. We explain in this Marietta Daily Journal blog post. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes…
If you haven’t heard, those earning more than $200,000 ($250,000 MFJ) will see increased Medicare Taxes beginning in 2013. Read all about it in this week’s Tax Tip.
Even though an investment policy statement may target a desired return on the portfolio, that does not mean the portfolio will necessarily achieve that return. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful. Learn more in this Financial Tip.
You can borrow money for your children’s college education, but you cannot borrow money for your own retirement. We explain how to find balance in this Marietta Daily Journal Blog post. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information…
Interest rates and bond prices have an inverse relationship. Consider this before you buy a 10-year bond. We explain in today’s Marietta Daily Journal. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be…
A retirement plan is a critical part of a competitive benefits package. If you’re a small business owner and haven’t established one, what are you waiting for? Learn more in this Business Tip.
Would you like term, permanent or cash value? You’ll need different types of life insurance as your situation changes. Learn more in this Insurance Tip.
Unless Congress acts, rich and poor alike will face higher taxes in 2013. Find out what changes might affect you in this week’s Tax Tip.
In these challenging economic times, you may be considering taking a withdrawal from your traditional IRA. While you’re allowed to withdraw funds from your IRAs at any time, for any reason, the question is, should you? Learn more in this Financial Tip.
Those 40 and younger owe more than $580 billion in student loans. We highlight more staggering statistics in today’s Marietta Daily Journal. Read the Article. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should…
When starting your own business, you’ll need a sound plan, creativity, dedication, and some form of financial investment. Learn more in this Business Tip.
GAP insurance can provide valuable protection during the early years of your car, when it depreciates the fastest. Learn all about it in this week’s Insurance Tip.
If you’ve married over the summer, here are some post-wedding tips to help you avoid stress at tax time. Read more in this week’s Tax Tip.
You could spend as long tapping your nest egg as you’ve spent creating it, so your asset allocation strategy is important. Read more in this week’s Financial Tip.
Is your money market FDIC insured? Depends on if it is a deposit account or mutual fund. We discuss in today’s Marietta Daily Journal. Read the Article All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information…
Received less from your insurance company than you expected? Learn the steps that can help you resolve a dispute in this week’s Insurance Tip.
QuickBooks’ Jobs features can help you track the financial impact of long projects and can help with progress invoices. Learn more in this Quickbooks Tip.
If your parents are slowing down with age or health issues, we offer some tips for dealing with aging parents. Learn more in this week’s Financial Tip.
Starting your own business? Take steps now to maximize the chances that your business will succeed. Find out in this week’s Business Tip.
Good news: You’re a saver. Bad news: You’re earning little money on your savings. We offer some tips when seeking higher yields in today’s Marietta Daily Journal. Read the Article All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only.…
Medicare, Medicaid, Medigap and long-term care insurance can each assist you to pay for your long-term nursing-home care. Learn more in this week’s Insurance Tip.
The Social Security Administration has gone digital! You can now access your earnings and benefits statement online. Learn more in this week’s Tax Tip.
Time is money, and you’ll need both if you’re returning to school as an adult. Read ways to pay for your next degree in this week’s Financial Tip.
The health care law also reformed the student loan program. We highlight the changes in today’s Marietta Daily Journal. Read the Article All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the…
New rules are changing how 401(k) plans disclose info on investments, fees, and expenses. A little history in this week’s Business Tip.
Henssler Financial is featured in Cobb in Focus magazine as one of Cobb County’s top businesses for employees. Read the Article All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis…
A captive insurance company can insure risks ordinarily covered by commercial insurers. Is one right for your business? Find out in this week’s Insurance Tip.
For children, summer day camps have come a long way since “Camp Idontwannabehere.” For parents, it may mean a tax credit. Learn more in this week’s Tax Tip.
A blushing bride at 60—afterall, 60 is the new 30! With a new marriage, your Social Security benefits may change. Learn more in this week’s Financial Tip.
You can now hear “Money Talks” on Stitcher SmartRadio! Stitcher allows you to listen to your favorite shows directly from your iPhone, Android Phone, Kindle Fire and beyond.
Renovating your kitchen? Give your insurance agent a call. You’ll want to update your policy to cover the improvements. We discuss in today’s Marietta Daily Journal. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided…
An insurance company often does nothing with a life insurance policy until someone files a death benefit claim. Learn more in this week’s Insurance Tip.
Whether you are paying or receiving child support, you should be aware of the federal income tax consequences. Learn more in this week’s Tax Tip.
On the path to financial security, it’s important for women to understand what they might be up against. Learn more in this week’s Financial Tip.
The IRS provides guidance for certain non-away-from-home lodging expenses to be treated as deductible business expenses. Read more in this Tax Strategist.
Could Georgia’s homeowners benefit from diminution of value on damaged real estate? We discuss in today’s Marietta Daily Journal. Read the Article All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the…
Your business planned for succession of ownership, but did you neglect the issue of management succession? Read more in this Business Tip.
If renting out your home, you’ll want to update your homeowner’s insurance to a policy designed for rental properties. Learn more in this week’s Insurance Tip.
Your full-time student could yield you a $3,800 tax deduction in 2012. Learn more in this week’s Tax Tip.
Henssler Financial’s new sculpture to represent the climax of the unpredictable battle that takes place every day in the stock market.
Between market dips and possibly higher taxes next year, 2012 might be a good time to convert an IRA to a Roth IRA. Learn why in this Financial Tip.
A zombie apocalypse might not happen, but your business should be prepared for natural disasters like tornados. Learn how small businesses can plan for natural disasters in this week’s business tip.
Life insurance is a sound financial tool to protect your family. However, you can have too much of a good thing. Find out what we mean in this week’s Insurance Tip.
QuickBooks has a variety of reports that can help you understand your history and plan for the future more effectively. Learn more in this QuickBooks tip.
Has your adult child moved back home? Read tips on helping them get back on their feet financially in this week’s Financial Tip.
Health Care Reform: Here’s a summary of some of the provisions that are already in place, and those on the way by 2014.
If you’re in an accident with an uninsured motorist, how will you pay for the damages? We explain in today’s Marietta Daily Journal. The following information is reprinted with permission from Forefield, a division of Broadridge Financial Solutions, Inc. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be…
You plan to expense that business lunch, but do you know what substantiation is required? Find out in this week’s Business Tip.
Letters from the IRS. Certainly not love letters, but often not a reason to panic either. We explain in this week’s Tax Tip.
An early retirement? Sure…but before you accept your company’s offer, understand the financial impact of your decisions. Learn more in this week’s Financial Tip.
Do you know if you have insurance to cover an injury suffered at your home? We explain in today’s Marietta Daily Journal. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented…
If you’ve forgotten something on your tax return that affects the tax due, you can file an amended return. Learn more in this week’s Tax Tip.
How long could you last without your paycheck before it would be difficult to pay for everyday expenses? We explain the importance of Disability Insurance in today’s Marietta Daily Journal. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently…
Split dollar life insurance, used in gift and estate planning, can also be part of a compensation package for employees. Read more in this week’s Business Tip.
The markets don’t like uncertainty. We break down what’s going on with Greece and what it means for your portfolio.
IRS increases contribution limits for Health Savings Accounts for 2013. Read more in this week’s Insurance Tip.
Business owners: QuickBooks can handle billing for time and expenses. Learn how in this week’s Tax Tip.
2013 will bring some big changes for investors, and none of them for the better. Taxpayers affected by these upcoming changes may wish to consider taking actions in 2012 to mitigate the impact of these changes. Read this Tax Strategist for more.
For young parents, life insurance needs are at a peak. We explain in today’s Marietta Daily Journal. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented is compiled from sources believed…
As a business owner, you may have a unique opportunity to compensate yourself with dividends. Learn more in this week’s Business Tip.
Your home is your castle, so protect that which you can’t afford to lose. Learn more in this week’s Insurance Tip.
Criminals can use your Stolen ID to file fraudulent tax returns. Learn how to protect yourself in this week’s Tax Tip.
Life changes like divorce or birth of a child require a review of your estate plan, but there are many other reasons too. Read more in this week’s Financial Tip.
Even before your child is born or adopted, insurance planning should be a priority. We explain why in today’s Marietta Daily Journal. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented…
You have many aspects to consider before buying a franchise. Review our pros and cons in this week’s Business Tip.
For a self-insured business, several major medical claims could cause bankruptcy. Stop-loss insurance can help this risk. Read more in this week’s Insurance Tip.
If an activity is not for profit, losses from that activity may not be used to offset other income. Learn more in this week’s Tax Tip.
Death of a spouse is devastating and comes with major financial decisions. Your financial and insurance advisers can help. Learn more in this week’s Financial Tip.
Henssler Financial is a true partner in every sense of the word,” says Kennesaw State Athletic Director Vaughn Williams. Read the Press Release. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material…
Graduating with Student Loan debt? The government has several repayment options available. We explain in today’s Marietta Daily Journal. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented is compiled from…
Can you write off your business website? It’s more complicated than you think. Learn more in this week’s Business Tip.
If you’re in an accident where someone is injured or property is damaged, you may find yourself defending a lawsuit. Learn more in this week’s Insurance Tip.
You can use QuickBooks’ inventory-tracking tools to stock your inventory to match the pace of sales. Learn more in this special Quickbooks Tip.
You have a 401(k) plan, but what happens if your employer goes out of business? Find out in this Financial Tip.
On May 16, 2012, Henssler Financial made a donation of $2,500 to Kennesaw State University’s athletics program to help launch the university’s football program. The firm has a long-standing tradition of giving to the University, as Gene Henssler, Ph.D., the firm’s president, is a Professor Emeritus of Finance at Kennesaw. Principal and Director of Investments,…
On May 7, 2012, the DOL issued Field Assistance Bulletin 2012-02, which provides guidance on 38 of the most frequently asked questions regarding these regulations. View Field Assistance Bulletin
Small companies may have an easier time finding investors thanks to the JOBS Act. Learn what it means for investors. Learn more in this Financial Tip.
Through compounding, $5,000 can become more than $85,000 in 35 years. Who has that time? College grads. We explain in today’s Marietta Daily Journal. This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All…
A variable annuity contract is often described as a mutual fund family wrapped in an annuity contract. Learn more in this Insurance Tip.
Filing cabinets are overflowing? Time to start tossing your old financial records. Read this week’s Tax Tip before you start shredding.
Should you pay off debt or should you save and invest? To find out, compare what rate of return you can earn on your investments versus the interest rate on the debt. There may be other factors that you should consider as well. Learn more in this week’s Financial Tip.
Your tax responsibilities differ greatly depending on if you are a independent contractor or an employee. Learn more in this week’s Tax Tip.
If you are self-employed, income shifting can be a valuable tool to lower your taxes. Read more in this Business Tip.
When you leave your job, a cash distribution from a 401(k) may be a good idea if you have net unrealized appreciation. We explain in today’s Marietta Daily Journal. Read the article This article is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article…
Along with the financial and emotional difficulties of divorce, you’ll face special concerns about your insurance coverage. Read more in this Insurance Tip.
Paid $500 for a football at a charity auction? Check the estimated value of the item before calculating your tax deduction. Learn more in this week’s Tax Tip.
Retirement success depends on how much you’ve saved, how quickly you spend your money and how long you need it to last. Learn more in this week’s Financial Tip.
Thinking about tapping into your IRA? We explain the complicated rules to avoid penalty in today’s Marietta Daily Journal. Read the article
Nonqualified deferred compensation plans are flexible, allowing you to tailor a plan to you and your employee’s needs. Read more in this week’s Business Tip.
You may have multiple lines of insurance, but do you know if you’re covered if your dog bites your neighbor? Read more in this week’s Insurance Tip.
Fees, surcharges, tariffs, duties, assessments, dues, excises, levies, licenses, and tolls are all euphemisms for taxes. Read more in this week’s Tax Tip.
Since 1940, women have been counting on Social Security to provide much-needed retirement income. Read more in this week’s Financial Tip.
Social Security & Medicare face challenges considering their financial condition and projected outlook. Learn more in this Financial Tip.
You’ve moved on to a new job, but have you considered what to do with your old 401k? We advise in today’s Marietta Daily Journal.
Uninsured Motorist coverage is an integral part of your auto insurance. Learn how the policy generally works in this week’s Insurance Tip.
The April deadline has passed, but it’s time to look at what you’re paying in for your 2012 Income Tax liability. Read more in this week’s Tax Tip.
Important read: Company to pay $35.2 million in first class action over 401(k) fees for breaching ERISA fiduciary duties. Read the full article.
Estate tax laws are among the many tax laws that will sunset at the end of this year. We look at five possible scenarios in this week’s Financial Tip.
Henssler Financial recognized as a “National Standard” in the AJC’s Top Workplaces in Atlanta through employee surveys.
Business succession planning should ensure the continuity of your business and minimize tax consequences. Read more in this week’s Business Tip.
Taxes aren’t over yet! They’ll likely take center stage during election debates. We explain the basics in today’s Marietta Daily Journal.
If you have an Archer MSA, you can still make contributions and use it to pay for medical expenses. Learn more in this week’s Insurance Tip.
Why is owning a home part of the American Dream? Because of the tax benefits! Learn more in this week’s Tax Tip.
Interested in Mutual Funds? Here is a list of considerations before you invest, and items to look for when reading the prospectus. Learn more in this week’s Financial Tip.
Buying or leasing? It’s not just for cars or homes…it’s for business equipment as well. Learn more in this week’s Business Tip.
Are you giving the government $55 a week more than you should? We explain in today’s Marietta Daily Journal.
Many long-term care insurers are leaving the business. You’re still covered, but your premiums may increase. Learn what to do in this week’s Insurance Tip.
The Senate approved a provision that would revoke the passports of those with delinquent tax debts. Read more tidbits in this Tax Tip.
In 2011, brokers began to track the price paid for the securities in purchase transactions. Read what this means for you in this week’s Tax Tip.
Schedule C returns have a 300% higher chance of being audited than a partnership or an S-Corporation. Learn more in this Tax Strategist.
When is a B- the same as an A+? When you’re reading rating agencies’ report cards for insurance companies. Read the guide in this week’s Insurance Tip.
Filing an extension doesn’t put you on an audit list. But, mismatched cost basis reporting could garner IRS scrutiny. We explain in today’s Marietta Daily Journal.
April 17, 2012 Deadline: 2011 taxes due, last day for 2011 contributions to an IRA & last chance to claim 2008 refund. Learn more in this week’s Tax Tip.
If you gave money or property to someone as a gift, you may owe federal gift tax. The IRS has eight tips to help determine if your gift is taxable.
Insurance may not provide the protection needed for assets. Other strategies include transferring ownership to an entity. Learn more in this week’s Financial Tip.
If your part-time business is truly a hobby and not a business, don’t try and sell it to the IRS as a business. We explain in today’s Marietta Daily Journal.
For a successful business, surround yourself with expert advisers. We offer a list of considerations for your team in this week’s Business Tip.
A rider on your life insurance policy can allow you to tap into death benefit funds should you need long-term care. Learn more in this week’s Insurance Tip.
Elevation Restaurant and Henssler supply meals for the youth at the Kennesaw Teen Center.
Direct deposit of your federal tax refund offers many benefits. Learn why it is safe, secure and what options you have in this week’s Tax Tip.
Your child’s private school tuition likely has to come out of your own pocket. We offer a list of options to consider in this week’s Financial Tip.
Both the IRS and the Georgia Department of Revenue are taking measures to confirm your identity. Bil Lako, CFP explains in today’s Marietta Daily Journal.
As your small business reaches the different stages of business life cycle, planning and goal setting must evolve as well. Read more in this week’s Business Tip.
As you age your insurance needs change. If you retire healthy, you’ll want insurance that will help you stay that way. Learn more in this week’s Insurance Tip.
If you sold your gold you’ll have to report your gains on your tax return. Careful! Some gold is considered a collectible. Learn more in this week’s Tax Tip.
Leaving your job? Consider what you’ll do with your 401(k) carefully, as some can carry severe tax consequences. Read more in this week’s Financial Tip.
Bil Lako explains the “convenience” of paying your tax debt with plastic in today’s Marietta Daily Journal. Read the Article.
A stretch annuity can allow for the death benefit to be paid over several years, while the balance to continues to grow. Read more in this week’s Insurance Tip.
A series of tax law changes began with 2011’s expiring provisions and include new laws starting in 2013. For a review, read this Tax Tip.
Taxes will be a hotly debated topic in the 2012 election. Here is a list of the topics candidates will likely discuss. Read more in this Tax Tip.
There is still time to save $5,000 ($6,000 for age 50+) for retirement for the 2011 tax year. You have until April 17th. Learn more in this week’s Financial Tip.
It is March 2012, but you still have an opportunity to alter the outcome of your 2011 tax return. Learn more in this week’s Tax Tip.
You might be a homeowner, but how you legally own your home affects who receives it after your death. Read more in this Financial Tip.
Taxpayers filed 140.5 million returns for 2009. Of those, nearly 82 million were taxable. Read more in the IRS bulletin.
Your FICA taxes are’nt going up! Congress extended the 2% reduction through the end of 2012. Read more in this Tax Tip.
Bil Lako, CFP®, highlights four items that pique the IRS’ interest, which may trigger an audit, in today’s Marietta Daily Journal. Read the Article.
It’s best to know what your insurance covers before you need to make a claim on your policy. Learn more in this week’s Insurance Tip.
New this tax filing season: If you hold “specified foreign financial assets” you may have to file IRS Form 8938. Find out more in this week’s Tax Tip.
There are four ways your property will pass on to your heirs. Now is the time to make sure arrangements are in order. Find out more in this week’s Financial Tip.
New rules are requiring 401(k) plans to provide detailed information to participants about the plan and its investments. Learn more in this week’s Business Tip.
What will happen to your small business when you retire? Think about how you’ll transfer ownership now. Learn about Business Owner Succession Planning in this week’s Insurance Tip.
There is one and only one instance when you can ignore the “IRS” — phishing scams. Learn what to look for in this week’s Tax Tip.
They say men are from Mars and women are from Venus, but is this true when it comes to estate planning? Find out in this week’s Financial Tip.
Creating a separate entity, such as a partnership, to hold your real estate provides both insurance and tax advantages. Read more in this Business Tip.
Before you withdraw from your cash value life insurance policy, be aware of your basis and any surrender charges. Learn more in this week’s Insurance Tip.
You have a home office, but can you deduct it on your taxes? Before you do, make sure you pass two tests from the IRS. Find out in this week’s Tax Tip.
You should understand what you are buying when choosing between a growth or value stock for your portfolio. Find out more in this week’s Financial Tip.
The basis accounting method you use can help manage your tax liability on your investments. Read our article on MDJonline.com.
The fastest way to get your tax refund is also the safest way: e-file and direct deposit. Learn more on the IRS website.
The IRS has an app for that! Smartphone users can get IRS2Go 2.0, to provide access to practical tools and information. Learn more about the app.
If your employee causes an accident in a company vehicle, as the higher up you’re likely responsible. Find out more in this week’s Insurance Tip.
The Work Opportunity Credit has been modified by new legislation that extends the benefits for hiring unemployed veterans. Read more in this week’s Tax Tip.
According to the Employee Benefit Research Institute’s 2011 Retirement Confidence Survey, 74% of workers plan to work in retirement, but historically only about three in 10 retirees have been able to do so. If you plan to work during retirement, consider how you might adjust your plans if ill health or job loss prevented employment. Learn more in this week’s financial tip.
If you’re like most taxpayers, you find yourself with an ominous stack of “homework” around TAX TIME! Unfortunately, the job of pulling together the records for your tax appointment is never easy. However, the effort usually pays off when you save extra tax money! Read more in this month’s Tax Strategist.
Before you give away your assets in an attempt to avoid estate tax, you should understand the gift tax rules. Find out more in this week’s Tax Tip.
Think you’re ready to file your taxes? Be sure you have all documents including all W2s. What if you’re missing one? Learn what to do
Buying insurance can be tedious—especially if you don’t know what you’re looking for. We break it down to the ABCs in this week’s Insurance Tip.
2011 is over, but there are a few things you can do to help your tax situation. Talk to your C.P.A. sooner rather than later.
Portfolio managers employ many methods when managing a portfolio. We take a look at active vs. passive management in this week’s Financial Tip.
Disability income insurance protect your ability to earn an income and help with the continuation of your business. Find our more in this week’s Insurance Tip.
Need to know the contribution limits for the various retirement accounts? We have your answers! View the Sheets
Are you your own boss? The IRS has six key points on self-employment taxes they want you to know. Read the Article
Preretirement is the stage of life when you can solely focus on planning and saving for your retirement years. Learn more about Preretirement in this week’s Financial Tip.
If you regularly use independent contractors instead of hiring employees, you may still have to file Form 1099. Read more in this Tax Tip.
Before you purchase a critical illness insurance policy, it is important to understand what is covered and what is not. Learn more in this week’s Insurance Tip.
Before starting any debt payoff strategy (or combination of strategies), be sure you understand the terms of your debts, including any penalties for prepayment. Read more in this week’s Financial Tip.
If you are a small-business owner, whether you hire people as independent contractors or as employees will affect the amount of taxes you withhold from their paychecks, as well as how much and what types of taxes you pay. Read this Tax Strategist for more.
With the many complexities in a divorce, pay close attention to the health insurance coverage for you and your children. Learn more in this week’s Insurance Tip.
Stop limits and stop orders aim to get you a specified price on a stock, but they are not for use with every trade. Find out more in this week’s Financial Tip.
Your credit score can affect your ability to purchase an insurance policy and what premium you might pay. Learn more in this week’s Insurance Tip.
Received a gift card during the holidays? Bil Lako, CFP®, explains how to make the most of your gift in a Marietta Daily Journal article. Read Article
If you are not required to file a tax return, there are reasons you may still want to file including refundable credits. Read more on the IRS Website.
If you dream of being on a game show, you should first be aware of the potential tax nightmare before you apply. Learn more in this week’s Tax Tip.
If your child is starting college this year, now is a great time to start filing the Federal Financial Aid Application. Learn more in this week’s Financial Tip.
If the cost of long-term care insurance is discouraging, a long-term care annuity might be a viable option. Read more in this week’s Insurance Tip.
After 2012, the floor on deductible medical expenses increases for most taxpayers to 10% of AGI. Learn more in this week’s Tax Tip.
Resolving to improve your financial picture in 2012? Look back at what happened in 2011 can help you make some positive changes. Find out more in this week’s Financial Tip.
The following is a compilation of a number of tax breaks available to self-employed individuals and/or small business owners. Some can be implemented before year’s end, providing benefits for your 2011 return, while others will provide planning opportunities for 2012.
Traveling soon? You should consider travel insurance for your trip. There are many types of policies to fit your needs. Learn more in this week’s Insurance Tip.
The IRS announced the standard business use of auto mileage rate is 55.5 cents per mile for 2012. See additional rates in this Tax Tip.
Henssler Financial voted as No. 2 Best Regional Financial Advisory and Investment firm in DailyReport’s “Best of 2011.” See the List
If you’re bringing in cleaning help during the holidays, make sure you and the cleaning company are properly insured. Read more in this week’s Insurance Tip.
If you pay on a mortgage but your name is not on the loan document, you may not be able to deduct mortgage interest. Read this Tax Tip for more info.
With about a month left in the year, there is plenty you can do to improve your tax situation. Read this Tax Strategist for more.
There are an abundant number of provisions that provide tax relief to small businesses this year. Just so you don’t overlook any of these benefits, or in case your business would like to position itself to take advantage of some before the close of the year, here is a brief rundown on many of the business benefits that are available for 2011.
Before you renew your personal auto policy, you should review it as life changes may determine the coverage you desire. Read more in this week’s Insurance Tip.
Gains & losses come from the sale of assets—sounds easy, but there are reasons to consult a tax expert before year-end. Read more in this week’s Tax Tip.
Kennesaw State University announces Ken Harmon, PhD, as their provost and vice president for academic affairs.
Small-business owners have excellent opportunities to save for retirement, often with tax benefits for the business. Read more in this week’s Tax Tip.
How “disability” is defined in your insurance policy determines the cost of the policy and how you qualify for benefits. Read this Insurance Tip for more information.
The one-size-fits-all fill-in-the-blank forms that do-it-yourself estate planning sources provide may be attractive to some individuals because they cost a fraction of what attorneys typically charge. But is saving a few dollars worth the risk and potentially high cost of doing things incorrectly? Find out in this week’s Financial Tip.
Businesses with qualified production activities can take advantage of the Domestic Production Deduction on their taxes. Read this Tax Tip for more.
If you’re serving more than turkey during the holidays, be sure your insurance covers your social host liability. Find out more in this week’s Insurance Tip.
We look at two expiring tax provisions—Tax-Free Charitable Donations from IRAs and Deducting General Sales and Use Taxes.
Can you afford to rebuild and replace your home after a natural disaster? Consider a flood or earthquake insurance policy. Read this week’s Insurance Tip for more information.
If you are unemployed, certain expenses you incur when looking for a new job may be tax deductible. Learn more in this week’s Tax Tip.
On October 26, 2011, President Obama announced a plan that seeks to help college graduates pay back their federal student loans. The plan is an executive order and does not require approval by Congress. It is scheduled to take effect beginning in 2012. Read more in this Financial Tip.
Cash value life insurance comes in many forms, so people often get confused. Learn more how the cash value works in this week’s Insurance Tip.
The Social Security Administration has announced that for the first time since 2009, a cost-of-living adjustment (COLA) will be paid to Social Security beneficiaries and Supplemental Security Income (SSI) recipients. Monthly benefits will increase 3.6% starting in January 2012 for Social Security beneficiaries and starting on December 30, 2011, for SSI recipients. Read more in this Financial Tip.
You sold your tomatoes at the farmer’s market, but is your garden considered a business or a hobby? It’s complicated. Read this week’s Tax Tip for more.
While you may judge your portfolio on its return, don’t neglect to consider the risk incurred in obtaining those returns. Read this week’s Financial Tip for more.
Crime insurance helps protect your business from loss as a result of misdeeds, including those of dishonest employees. For more information, read this week’s Insurance Tip.
If you plan to take charitable deductions on your taxes, note the IRS requires written substantiation of your donation. For more, read this week’s Tax Tip.
College costs are rising! See what it costs for in-state & out-of state students at public colleges, and private colleges.
Retiring within the next 10 years? Here are some critical financial steps to take before you plan your retirement party.
Kennesaw honors Hensslers by dedicating the Student Managed Investment Fund’s stock trading room to them.
The tricky part to health FSAs is that the money set aside for medical expenses is that they are use-it-or-lose-it. Read more about FSAs in this week’s Insurance Tip.
You have a about two months to make moves to improve your tax situation for 2011. Read this week’s Tax Tip for five year-end moves.
Financial planning doesn’t stop once you’re retired. Read this week’s Financial tIP to help your savings last throughout your retirement.
Women live on average 6 years longer than men. With that comes an increased chance women will need long-term care. Read this week’s Insurance Tip for more.
13 Henssler Financial Associates make the Atlanta Magazine 2011 Five Star Wealth Managers list, rating among highest in overall satisfaction.
Large estates, opting out of the estate tax, have until Tuesday, January 17, 2012, to file Form 8939. Read this week’s Tax Tip for more information.
2010 Tax Act created new provisions for estate tax laws. Read how these may temporarily affect your estate plan in this week’s Tax Tip.
If you are an eligible small employer or a tax-exempt eligible small employer, you may qualify for the small employer health insurance premium credit.
Year-end is often open enrollment season. Read this week’s Insurance Tip to learn how to make the most of your employer-provided health benefits.
Expecting a tax refund? Before you mentally spend it, learn about two tax changes for 2011 may lower your refund in this week’s Tax Tip.
We watch the movements of the S&P 500 and DJIA, but what exactly are they, and how are they used? Learn all about indices in this week’s financial tip.
Often lumped together, Medicare and Medicaid are quite different. It’s the high cost of providing health care through these programs that now threatens federal and state budgets.
What is the statue of limitations for the IRS to question your tax return? As with all things tax, it depends. Read this Tax Tip for more information.
When planning for your retirement, factor in the cost of health care. Consider your Medicare premiums, co-pays and deductibles. For more on how much you will need and what you can do, read this Financial Tip.
In 2011, you will see your adjusted cost basis on your 1099-B Proceeds From Broker and Barter Exchange Transactions form. Find out what this means to you.
Sometimes planning for the unexpected isn’t always a dire situation. Could you handle a financial windfall? Read this Financial Tip for more.
Life has too many “what ifs” already. Learn how to put a plan in place that can protect your family if you’re not here.
A sales tax on home sales? You’ve likely read a lot of misinformation. We explain the new tax and who it affects in this week’s tax tip.
Ready to have the college talk with your high school senior? Learn how to talk about cost, grades and courses of study in this Financial Tip.
A frequently asked question is, “How much do I need to put aside for retirement?” The answer to that question varies with each individual. There a number of factors to consider: the amount of your current income, savings and assets; how many years until you plan to retire; the retirement lifestyle you desire, and what you can afford to put aside.
Do you incur unreimbursed costs while doing charity work? You may be able to take a tax deduction. Read our Tax Tip to find out.
September 2011. Kennesaw, Ga. — Henssler Financial was named to National Association of Board Certified Advisory Practices (NABCAP) list of premier advisers in Atlanta. The Atlanta Business Chronicle partnered with NABCAP to identify some of the city’s “best and brightest in the wealth management industry.” Advisers were to participate in an online questionnaire that assessed…
Your credit score can affect your options for financing and your ability to get a job. Learn how to dispute an error in this Tax Tip.
The latest round of tax scams are preying on taxpayers who normally do not have a filing requirement, including low-income earners and the elderly. Read this Tax Tip to learn what to look out for.
Small-business owners: Your accounting method affects your ability to write off receivables that cannot be collected. Read this Tax Tip to find out how.
Take advantage of the unused threshold for additional income without incurring taxes on your Social Security benefits. Read this Tax Tip for more information.
If you owe on certain debts, the IRS can keep a portion of your federal refund to satisfy the debt. Read this tax tip to learn more.
Last December, Congress extended a number of the Bush-era tax breaks, but only for a limited length of time. It is probably a safe bet that most won’t get extended further, considering the size of the national debt. Although numerous tax breaks were extended, only a few provide you with an opportunity to take actions that can reduce your tax bite. But if you want to take advantage of those tax breaks, you need to act this year or next. Here is a list of those extended tax breaks and what will happen when they expire.
The Internal Revenue Code rewards businesses for pursuing innovation by continually increasing investment. Learn how in this Tax Tip.
Are you missing out on tax perks related to your business travel? Food and lodging expenses may be deducted when you are away from home for business purposes. Like everything in the tax law, to be tax deductible, certain rules must be followed. Individuals who know the rules and keep good records derive the most from these deductions.
If you, like many others during the summer months, have gotten married or plan to get married in the near future, here are some post-marriage tips to help you avoid stress at tax time.
With summer in full swing, there is a tax break that working parents should know about. Many working parents must arrange for care of their children under 13 years of age during the school vacation period. A popular solution — with a tax benefit — is a day camp program.
Did you know your credit can affect your car insurance? Read this tip to learn two ways to lower the cost of your car insurance.
Think you’re safe from an audit because you have received your refund check? Think again! Read this for startling information on audits.
Now that your taxes have been completed for 2010, you are probably wondering what old records can be discarded. You may have records from years ago that you are apprehensive about destroying. Before starting a toss pile, understand why the records should be kept.
May 2011. Kennesaw, Ga.—Kennesaw State University awarded Dr. and Mrs. Gene W. Henssler with the 2011 President’s Award at the Annual Presidents’ Dinner. Gene and Pat Henssler were recognized for their contributions to the university. The Hensslers helped establish the Student Managed Investment Fund at the Michael J. Coles College of Business. Their donation and…
There is one tax loophole on the books that is large enough to drive a truck through…literally. Due to a provision in the new 2010 Tax Relief Act, you can write off most or all the entire cost of a heavy-duty SUV placed in service this year—without the usual restrictions. But you should move fast if you are in the market for a new business vehicle. Congress may soon undo the unexpected windfall created by the new tax law.
April 2011. Kennesaw, Ga. — Henssler Financial was named to the Atlanta’s Top 100 Workplaces 2011 list—a roll call of the best places to work in the Atlanta region. Henssler placed in the small-business category for companies that have 124 or fewer employees. More than 490 companies were nominated, and the consulting group Workplace Dynamics…
The federal tax filing deadline of April 18, 2011 is looming, but there is still time to cut your taxes for 2010. Read this Tax Tip for five strategies.
Changing from a C corporation setup to the S corporation setup can be beneficial, but there are numerous factors to consider. With the March 15 deadline for 2011 fast approaching, you should seek guidance for your situation.
The recently enacted Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 is a sweeping tax package that includes, among many other items, an extension of the Bush-era tax cuts for two years, estate tax relief, a two-year patch of the alternative minimum tax (AMT), a two-percentage-point cut in employee-paid payroll taxes and in self-employment tax for 2011, new incentives to invest in machinery and equipment, and a host of retroactively resuscitated and extended tax breaks for individuals and businesses.
When creating a budget, it is helpful to assign percentages to major categories. This article lists typical family budget percentages.
