Installment Sale – A Useful Tool to Minimize Taxes
Thinking of selling a property you’ve owned for a while? Learn how an installment sale could help you manage capital gains taxes and the 3.8% surtax on net investment income.
Freshen Your Finances: 10 QuickBooks Spring Cleaning Tips
Spring is here, and it’s not just your home that needs cleaning! Your financial records in QuickBooks could use some tidying too. Check out these tips to freshen up your finances for the new season.
Hidden Heroes of Tax Season: How A Financial Adviser Can Help
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Senior Associate Michael Griffin, CFP®, and Associate Giuliana Barbagelata, CFP®, to highlight some of the financial questions and moves investors often have after tax season.
Biden’s Tax Agenda
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.
Securing Your Business’s Future: Mastering Succession Planning
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.
Due Date Approaches for 2023 Federal Income Tax Returns
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!
Tax Relief Legislation in Progress
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!
Naming Your IRA Beneficiary – More Complicated Than You Might Expect
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.
New Employee vs Independent Contractor Rule Effective March 11, 2024
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.
There’s Still Time to Contribute to an IRA for 2023
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.