FAQs about Taking withdrawals from IRAs

Tuesday, January 24, 2023
As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA (including a SIMPLE IRA or SEP IRA)...... Read More

The Social Security wage base is increasing in 2023

Monday, January 23, 2023
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages and self-employment income...... Read More

New accounting rules for supplier finance programs

Thursday, January 19, 2023
Does your company use supplier finance programs to buy goods or services? If so, and if you must adhere to U.S. Generally Accepted Accounting Principles (GAAP), there will be changes...... Read More

How will inflation affect your 2022 and 2023 tax bills?

Tuesday, January 17, 2023
The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than you were last year. Are you wondering how high inflation...... Read More

What are the financial consequences of tax-free bonds?

Tuesday, January 10, 2023
If you’re interested in investing in tax-free municipal bonds, you may wonder if they’re really free of taxes. While the investment generally provides tax-free interest on the federal (and possibly...... Read More

Consolidated Appropriations Act Tackles Retirement Planning

Tuesday, January 03, 2023
On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023. The sprawling year-end spending “omnibus” package includes two important new laws that could affect your financial planning: the Setting...... Read More

Surprise Audits Can Keep Your Accounting Department on Its Toes

Thursday, December 29, 2022
One of the best ways to tackle financial statement fraud is to conduct periodic surprise audits. In fact, surprise audits were associated with at least a 50% reduction in both...... Read More

Self employed? Try a Solo 401(k) Plan

Tuesday, October 04, 2022
Do you own a successful small business with no employees and want to set up a retirement plan? Or do you want to upgrade from a SIMPLE IRA or Simplified...... Read More

Don’t Forget About Income Tax Planning for Your Heirs

Wednesday, July 06, 2022
As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. Before 2011, a much...... Read More

When Can You Apply the Research Credit Against Payroll Taxes?

Friday, July 01, 2022
Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to apply all or some...... Read More