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Contributing to your employer’s 401(k) plan: How it works
Does your employer offer a 401(k) plan, but you haven’t started participating? Here are the basic features of these plans to illustrate why you should strongly consider it.
Divorcing business owners should pay attention to the tax consequences
Divorce can be financially complicated, especially if one or both of the spouses owns a business.
Are scholarships tax-free or taxable?
If your child is fortunate enough to get a scholarship, is the amount taxable income? For some, yes, but there’s good news for most families.
What types of expenses can’t be written off by your business?
As a business owner, expenses can be written off in order to save you money. What things can’t be written off?
Evaluate whether a Health Savings Account is beneficial to you
As health care expenses continue to grow, health savings becomes a larger priority for many individuals. A Health Savings Account can offer a tax favorable way to meet future medical needs.
Look carefully at three critical factors of succession planning
When making a succession plan, business owners will want to consider these three critical factors.
Pocket a tax break for making energy-efficient home improvements
Making energy efficient home improvements may allow you a beneficial tax break.
Update on depreciating business assets
Inflation has some beneficial side effects. One is that the amount of depreciation tax breaks your business can claim has increased for 2023.
Plan now for year-end gifts with the gift tax annual exclusion
The estate and gift tax exemption amount is scheduled to be cut drastically in 2026 when the related Tax Cuts and Jobs Act provisions expire (unless Congress acts to extend them). Making tax-free gifts before then can cut the size of your taxable estate and may be one way to address this potential threat.
Planning ahead for 2024: Should your 401(k) help employees with emergencies?
The SECURE 2.0 law, which was enacted last year, contains wide-ranging changes to retirement plans. One provision in the law is that eligible employers will soon be able to provide more help to staff members facing emergencies. This will be done through what the law...
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