Recharacterization is Off the Table
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
Loophole for Specified Service Businesses to Qualify for the 20 Percent Tax Deduction
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.
Service Businesses and the 20% Tax Deduction
Henssler Financial provides a simplified example how some “specified service or trade businesses” can still qualify for the 20% deduction on qualified business income. hensslervideo_personal_finance
Not All Interest Is Deductible For Taxes
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.
In the News: Eye on Your Money: Not All Business Tax Cuts Are Simple
Hannity finance expert and Principal of Henssler Financial, Bil Lako, CFP®, weighs in on the new tax bill.
Employee vs. Independent Contractor – Tips for Business Owners
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.
Gambling – Income Tax Conundrum
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.
In the News: The Long-Awaited Tax Reform Bill
In today’s Marietta Daily Journal, Bil Lako, CFP®, delves into the Tax Reform Bill and how to navigate going forward.
MAGI and the Gift of an Income-Related Monthly Adjustment
Troy Harmon, CFA, CVA, is joined by Principal Jennifer J. Thomas, CFP®, and Managing Associate K.C. Smith, CFP®, who take a look at a couple who received a recommendation to reduce their modified adjusted gross income to avoid paying more for Medicare.
Early Year-End Tax Planning To Take Advantage Of Possible Tax Reform
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.