Have You Considered a Cash-Balance Plan?
Category: Financial Planning » Taxes
Many business owners are looking for more tax-friendly ways to save for retirement. A cash balance plan could be the answer.
Hiking Through the Financial Wilderness
Category: Financial Planning » Taxes
I used to laugh at the TV commercial years ago that stated, “Most people spend more time planning their vacation than their retirement.” It’s funny how your perspective can change with time. Now, I gladly note all details of a personal trip, perhaps as a parallel of my work.
Important Updates on IRA Tax Reporting
Category: Financial Planning » Taxes
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.
Iowa Income Tax Changes Have an Impact in 2022
Category: Financial Planning » Taxes
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.
Let’s Defrost Taxing Relationships
Category: Financial Planning » Taxes
As a CPA, it's important to remember when working with your clients on their tax returns, their financial advisor can be a great source of help.
Life is Full of Taxes
Category: Financial Planning » Taxes
As the calendar races to a close, it’s important to consider the impact of selling securities in a non-qualified (aka brokerage or non-retirement) account. While everyone’s situation is different, it’s important to understand the basics.
Maximize Your Limits
As many people are receiving their first paycheck of 2020, it is important to review your pay stub in order to maximize income. There are several changes you may want to make as we head into 2020.
Important Updates on IRA Tax Reporting
Category: Financial Planning » Taxes
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.
Iowa Income Tax Changes Have an Impact in 2022
Category: Financial Planning » Taxes
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.
Let’s Defrost Taxing Relationships
Category: Financial Planning » Taxes
As a CPA, it's important to remember when working with your clients on their tax returns, their financial advisor can be a great source of help.
Life is Full of Taxes
Category: Financial Planning » Taxes
As the calendar races to a close, it’s important to consider the impact of selling securities in a non-qualified (aka brokerage or non-retirement) account. While everyone’s situation is different, it’s important to understand the basics.
Maximize Your Limits
As many people are receiving their first paycheck of 2020, it is important to review your pay stub in order to maximize income. There are several changes you may want to make as we head into 2020.
Pay Me Now or Pay Me Later | Financial Perspectives (In a Minute)
Category: Financial Planning » Taxes
While this year has had its share of negative financial news, there might be one opportunity to pay some taxes now in order to save some money on taxes later. This week, Kent Kramer walks us through Roth IRA conversions.
Preparing Your Own Tax Return: Is It Worth It?
Category: Financial Planning » Taxes
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.
Raising Kids, Lowering Taxes
Category: Financial Planning » Taxes
Raising kids costs money. But what if I told you that raising kids also lowers taxes? Here are a few areas of tax relief available to parents.
SECURE Act Signed Into Law. How Will This Impact Your Plan?
Category: Financial Planning » Taxes
In December 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement (SECURE) Act into law. Will it affect you?
Tax Planning Strategies For 2019: How Can You Act Now?
Category: Financial Planning » Taxes
Dave Farnsworth of McGowen Hurst Clark Smith explains a few different ways you could reduce your tax liability in 2019.�