What Papers Do You Need To Save?
Sometimes it feels good to get rid of clutter. Cleaning out papers we have kept for years is a good project. But there are some guidelines to be aware of before you put a pile of papers on the scrap heap. Individual circumstances guide the exact documents that should be retained, but there are some […]
A 2021 Update on Tax and Education Credits
Taxpayers who have to write big checks for higher education can see tax savings when filing tax returns next year. If you, your spouse or your dependents are taking postsecondary coursework, there’s a strong chance a tax benefit may be in your future. The credits available are the American Opportunity Tax Credit and the Lifetime […]
Know the Basics of Business Valuations
A business valuation can serve any of several purposes, but the goal is always the same: to find out the value of your business in dollars and cents. Armed with this knowledge, you’ll never be caught off guard. Arguably, the most important part of a valuation is not a step in the process — it […]
The Eternal Question: Roth IRA or Traditional IRA?
Creating a tax-favored savings account is an important part of saving for retirement. The individual retirement account is a popular choice. But IRAs come in two basic flavors: regular and Roth. What are the differences, and which is right for you? Contributions The contributions to both traditional IRAs and Roth IRAs are capped at an […]
State and Local Tax Considerations for Remote Employees
When the COVID-19 pandemic started, no one could have envisioned how long remote work would last or how many people would want to continue working remotely on a permanent basis. Along with the many problems, this created in the workplace is one that affects how remote workers pay state and local taxes. In general, there […]
IRS Adjusts HSA Limits for 2022
As it does each year, the IRS has announced changes for health savings accounts, which are associated with high-deductible health plans. The figures for 2022: Self-only: $3,650 (a $50 increase from 2021). Family: $7,300 (a $100 increase from 2021). According to the Society for Human Resource Management, the government bases its decision on the Consumer Price […]
