Accounting, Tax & Financial News

• 2015-2016 Tax Planning Guide

• New Federal Tax Law May Affect Some Refunds Filed in Early 2017

• Don't Get Hooked by a Tax Scam

• Tips for Taxpayers, Victims about Identity Theft and Tax Returns

• Mid-Year Tax Thoughts

• 2016 Key Numbers

• Tax Changes You Need to Know (A Snapshot of 2016 Tax Law)


 

 



 

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The Second Best Investment (August, 2016)
Many companies offer 401(k) or similar retirement plans to their employees, and an employer match might be available. If that's the case, you should contribute to the plan at least enough to get the full match.
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Using IRA Money to Buy a Business Can Be Dangerous (August, 2016)
Business owners may need capital to support growth, and the money in their IRA can be tempting: Nevertheless, the pitfalls can be steep, as illustrated in a recent Tax Court case.
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The True Cost of Higher Education (August, 2016)
The College Board reports that full-time students at private institutions typically paid almost $44,000 for tuition, fees, room and board during the 2015-2016 academic year. That's the average, so costs at some private colleges and universities were well over $50,000 per year. Higher education at public schools was much less expensive, but in-state students still spent nearly $20,000 for tuition, fees, room and board, on average.
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ETFs Can Be Plain or Fancy (July, 2016)
From virtually nowhere, exchange-traded products have grown to over $3 trillion in assets. A small portion of these products are exchange- traded notes (ETNs), but most are exchange-traded funds (ETFs): typically, pools of securities that trade like stocks.
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What the New Federal Fiduciary Rule Means to Investors (July, 2016)
In April, the U.S. Department of Labor (DOL) made headlines with its final rule covering conflicts of interest among investment advisers. Media coverage focused on the difference between a ""fiduciary" standard andi a "suitability standard. Financial advisors and investment firms have been debating this issue-often heatedly-for years, and the DOL action probably will bring about changes within the industry.
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Disaster Planning Versus Succession Planning (July, 2016)
Business owners should have an exit strategy: a plan for the time when they're either unwilling or unable to keep running their company. Often, that planning can include a current disaster plan for relatively young business owners and a future long- term succession plan for a smooth path to retirement.
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Business Tax Benefits (April, 2016)
The tax code includes Section 179, which permits first-year deduction (expensing) of amounts spent for business equipment. This provision formerly allowed annual deductions up to $25,000. After $200,000 of equipment outlays, the allowance phased out, dollar-for-dollar.

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Planning for Today's Pensions (June, 2016)
Some observers have commented that few private sector workers can look forward to pensions after retirement. The traditional pension, a lifelong stream of income to a retiree and perhaps a surviving spouse, is becoming a rarity for those who are not long-term government employees.
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Health Insurance and Divorce (May, 2016)
Going through a divorce can be a stressful experience, and some items may be overlooked. Nevertheless, if you are in this situation you should be sure to pay some attention to future health insurance. Medical bills and health insurance premiums can be extremely expensive; any lapse in coverage might lead to a financial crisis.
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S Corporation or LLC? (October, 2014)
Many business owners structure their companies as S corporations or limited liability companies (LLCs). On the surface there are several similarities. Both types of entities avoid corporate income tax. Instead, business income is taxed only once, on the tax return of the S corporation shareholder or the LLC member.
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