This is a very timely article by the WSJ about how people are using their retirement plans to provide liquid funds to pay billsuntil the economy recovers. There are tax smart ways to access dollars in your plan.
Tax Planning & Preparation
Minimize both your current and future tax liabilities.
- Should You Tap Retirement Funds in a Crisis? Increasingly, People Say Yes.
- Atlanta advisor John L Mills Tax Centers of Georgia interviewed in Detroit during 1200 point stock market drop
- New Higher Retirement Plan Contribution Limits for 2017
- IRS Secret Gift to Business Owners
- Why You Should Love Your Stinkers
- Tax Planning: It Isn’t Just For Breakfast AnymoreAll around the country, there are people in an absolute panic because the real tax deadline for personal tax return extension filers is approaching and they are running out of time. A few blogs ago, we talked about how to possibly deal with not being ready for the corporate deadline on September 15th . We don’t have an amusing anecdote […]
- If You Think Your CPA is Telling You Everything You Need to Know…Think Again.First, let us make it clear that we aren’t saying that your CPA or accountant is doing anything wrong. The accounting industry is one of the most honorable and respected fields around. That being said, there is a misconception that they are going to be proactive when advising clients about their taxes, and that’s just […]
- Plan Your 2020 Tax Outcomes NowWith Labor Day here, what tax planning should I think about before the fourth quarter is in full swing? The biggest mistake a business can make is not knowing their true numbers. The biggest mistake individuals can make is thinking they aren’t affected financially just because they “made it” and are back to work. Business […]
- Remote Work, State Taxes and an Unintended Chess Game.With the COVID-19 pandemic, many people who worked in an office have suddenly found themselves being asked to work from home for safety reasons. Many remote workers, especially those no longer commuting to cities, wonder if they will have to pay taxes where they were working, or at home, or both. States use several factors […]
- Mistakes Can Go Both Ways!Many times business owners have come into our office and with our help have found that they were doing things incorrectly regarding their bookkeeping and taxes. Occasionally, the errors add to the tax burdens that they have been underreporting. That never feels good, but it is always better to fix those issues pre-audit. Often, errors […]