Devising and executing the right succession plan is challenging for most business owners. In worst-case scenarios, succession planning is left to chance until the last minute. Chaos, or at least much confusion and uncertainty, often follows. The most foolproof way… Read More
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Senior tax-saving alert: Make charitable donations from your IRA
If you’ve reached age 70½, you can make cash donations directly from your IRA to IRS-approved charities. These qualified charitable distributions (QCDs) may help you gain tax advantages. QCD basics QCDs can be made from your traditional IRA(s) free of… Read More
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Healthy savings: How tax-smart HSAs can benefit your small business and employees
Healthy savings: How tax-smart HSAs can benefit your small business and employees As a small business owner, managing health care costs for yourself and your employees can be challenging. One effective tool to consider adding is a Health Savings Account… Read More
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3 types of retirement plans for growing businesses
3 types of retirement plans for growing businesses When start-ups launch, their focus is often on tightly controlling expenses. Most need to establish a brand and some semblance of stability before funding anything other than essential operating activities. For companies… Read More
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Fall – Thanksgiving Leaf & Pumpkins
Wishing all of you a wonderful Holiday!
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How inflation will affect your 2024 and 2025 tax bills
How inflation will affect your 2024 and 2025 tax bills Inflation can have a significant impact on federal tax breaks. While recent inflation has come down since its peak in 2022, some tax amounts will still increase for 2025. The… Read More
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When can you deduct business meals and entertainment?
When can you deduct business meals and entertainment? You’re not alone if you’re confused about the federal tax treatment of business-related meal and entertainment expenses. The rules have changed in recent years. Let’s take a look at what you can… Read More
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How to get foundations to say “yes” to your grant proposals
There are many thousands of charitable foundations in the United States. And, according to technology company Foundation Source, U.S. foundations awarded an average of 33 grants averaging between $25,000 and $28,000 each in 2022 (the most recent year for which… Read More
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3 types of retirement plans for growing businesses
3 types of retirement plans for growing businesses When start-ups launch, their focus is often on tightly controlling expenses. Most need to establish a brand and some semblance of stability before funding anything other than essential operating activities. For companies… Read More
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Get tax breaks for energy-saving purchases this year because they may disappear
Get tax breaks for energy-saving purchases this year because they may disappear The Inflation Reduction Act (IRA), enacted in 2022, created several tax credits aimed at promoting clean energy. You may want to take advantage of them before it’s too late…. Read More