How much can you save for retirement in 2020? IRS notice 2019-59 details the technical guidance for 2020 retirement plan contribution limits. According to Vanguard’s How America Saves, in 2018, 13% of employees with retirement plans at work saved the…
2019 is our second year following the significant tax law changes enacted under the Tax Cuts and Jobs Act (TCJA) and many taxpayers are still getting used to the new rules and the impact to their tax return. Below are…
Saving for retirement can be confusing. How much of my earnings am I supposed to save for retirement? What retirement plan options do I have? What investments are best for my situation? A good rule of thumb is to try…
Most of my blogs focus on tax or financial advice. This blog falls a little into the life advice category as well. Many people say the first few years of retirement can be quite an adjustment. After working for many…
For many, owning your own business is the American Dream. However, you need to enter this next stage with your eyes wide open. First some cold water. According to recently published data from the Bureau of Labor Statistics, for businesses…
What is a Roth IRA? You have probably heard about IRAs before. However, there are actually two types of IRAs, and the differences between the two are significant. Traditional IRAs let you save for retirement using pre-tax dollars. Your contribution…
When you have a small business, your accounting efforts should not be something that you only do once a year at tax time. Ideally, you also don’t want your only interactions with your tax professional to be your assistant dropping…
Given the major changes to the tax law and the additional changes to the IRS withholding tables in 2018, many taxpayers may find themselves owing taxes this year. This can be due to a whole host of factors. In some…
