New Higher Retirement Plan Contribution Limits for 2017

New limits on retirement plans for 2017   Below we have a list of the most common Pension Plans Maximum SIMPLE contribution $12,500 Maximum SEP contribution $54,000 Maximum compensation for plan purposes is $270,000 Maximum monthly benefit for defined benefit plans...

IRS Secret Gift to Business Owners

Stop Overpaying Your Business Taxes by Hundreds of Thousands of Dollars per year!  Business owners do not realize that buried somewhere in their tax return is the most powerful tool to increase their business cash flow. That tool is called a depreciation...

Why You Should Love Your Stinkers

Why You Should Love Your Stinkers We have had quite a few emails and calls about the 9 Ways to Reduce Your Taxes attachment in the November newsletter. Most of the questions were about the “wash sale” rule typically used in selling stocks so let’s spend some more time...

Deadlines that people forget that cost them!

The Oct 15th extended personal tax return deadline is looming, so if you haven’t filed yet you need to cancel this weekend’s plans and get to it!!  Many people in Florida will learn an unfortunate lesson after being punched in the head by Hurricane Matthew as they are...

How to Title Property Correctly

Married Couples and Property Mary was a surviving spouse. She and her first spouse, Ryan owned a lovely home and placed it into joint tenancy with right of survivorship. After Ryan passed away, Mary met Logan and they were married. Because she had the house in joint...

Tax Free Sale of Property

Howard and Lynn were age 55 when they purchased some land outside of town. They thought it would be a good investment that they could later sell for a higher price. Over the years, development from town has moved toward the property and their land is now next to a...

Fixed Income and Tax Savings for Retirement

Fixed Income for Retirement After working for decades as a pediatrician in a small rural town, Patricia was ready to retire. Patricia: I bought some stock a number of years ago and overall this was a good investment for me. However, I was uncertain about leaving my...

“Fall” into Tax Savings for next year!

With fall in the air, it’s time to start thinking about things that need to be done to prepare for winter.  The garden harvests are rolling in, fresh vegetables are everywhere and it’s really, really great.  Time to fill up your oil tanks before the price change, and...

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