The Invisible Tax
One of the things married couples often do not consider in their planning is what I like to call the “Invisible Tax.”
One of the things married couples often do not consider in their planning is what I like to call the “Invisible Tax.”
It is the taxpayer’s responsibility to keep records of distributions made to charity and contributions to their IRA and account for those on their tax return.
I certainly would argue that building a business is more than just a dice game, but both involve risk. How you fill out your scoresheet in Yahtzee is a good example of what business owners might decide to do with their business profits.
While executive benefits such as stock options, other equity compensation, and deferred compensation can be powerful accumulation tools, knowing how they fit into your overall financial picture can be challenging.
In more than a decade of working with clients, I’ve discovered that one thing tends to do more damage to financial plans than any other.
One of the significant changes in the tax reform bill signed by Governor Reynolds on March 1, is the eventual elimination of federal tax deductibility for determining taxable income. Iowa was one of the few remaining states that allowed taxpayers to deduct federal taxes to determine their state income taxes.
I’ve had the opportunity to work with a number of executives over the years and have found some commonly missed financial opportunities.
For most of us, it’s that time of the year when we make benefits elections for next year. These are important decisions.
Proactively working off a budget is challenging, both emotionally and practically. Here are some of the tools members of our team use that have helped them successfully manage their cashflow.
Many estate planning techniques are based on the Internal Revenue Code Section 7520 interest rate, which is at an all-time low of 0.6% as of June 2020.
Is your life insurance policy performing as well as it could be? Guest blogger Eryka Morehead explains some factors that could be undermining your policy’s performance.
Guest Blogger Eric Wahlstrom, CPA. With easy access to online or off-the-shelf software, preparing your own tax return is often appealing as an affordable, logical option.
After months of speculation, on September 13th, the House Ways and Means Committee released a proposal for tax reform effective in 2022 (and possibly in 2021 for selected provisions). The proposal contains a number of provisions that were expected, and a few surprises that we did not expect.
Since we are close to flipping the calendar to 2023, this is a great time to sit down and reflect on the past financial year and anticipate what might be ahead.