June 4, 2018
summer job pay taxes

Do I Have to Pay Taxes at a Summer Job? Tax Tips for Teens

It’s great that you are getting a summer job! But when you’re anticipating getting that first paycheck you might be wondering to yourself “do I have to pay taxes at a summer job?” Even a part-timer like you is expected to pay the US Government their due. Yes, life is not always as Financially Simple as we would like. Here is some helpful info dealing with taxes for specific summer jobs:
May 17, 2018
Financial Teams Tax Strategies Saved Small Business Owners 40000

Financial Team’s Tax Strategies Saved Small Business Owners $40,000

As a business owner, one of the biggest challenges is keeping as much of your hard earned money as possible in your own pocket. Last year some clients of mine wanted to find a way to do just that. So I sat down with their CPA and tax attorney to come up with tax strategies to help do just that for this couple. Let me set the stage for what we did for them.
May 8, 2018
Tax Tip Tuesday Financial Blog Post

Tips for Preparing for Natural Disasters Now That Could Save You Money Later

While we all pray that natural disasters do not impact our lives, the IRS reminds us taxpayers of ways to prepare before the unthinkable strikes. We can reduce the stress when it comes time to file claims or rebuild after a hurricane or other catastrophic event.
May 1, 2018
Tax Tip Tuesday Financial Blog Post

New Tax Education Webcasts Available at the IRS During Small Business Week

National Small Business Week is in full-swing through May 5. Small business owners and the self-employed will find a plethora of online products to help them gain a good comprehension of their tax responsibilities, including special webcast education during National Small Business Week. 
April 26, 2018

Minimizing Negative Tax Implications When Selling a Business – Post #30

In our Building a Sellable Business series, you’ve publicized your intent to sell your business. You’ve given your sales presentation and received a buyer’s Letter of Intent to purchase your business. As you determine how you will get paid upon the sale of your company, you’re getting into the financial terms of negotiations now. Friends, you must know that if money is changing hands, taxes follow. Sellers who understand that the purchase price is only the beginning of sales negotiations soon find themselves trying to figure out how to minimize negative tax implications when selling a business.
March 23, 2018
helping hands

Using Your RMD for Charity – Helping Others and Lowering Taxes

If you’ve reached the age of 70 and started living off your nest egg, then you know the IRS requires you to withdraw a certain amount of money from your Individual Retirement Accounts (IRAs) each year. The term used for this distribution is called a Required Minimum Distribution or RMD. So basically we work our whole life, place money in our retirement accounts, never pay taxes on that investment (there are exceptions to this), and now Uncle Sam wants his fair share for letting you save for the future. The IRS says, “Look, we want to get some money from you before you die.” So now you must withdrawal a certain percentage out and pay taxes on it. However, did you know that using your RMD for charity could save you on your taxes?