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Eye on Retirement Series 2 - Fill Your IRA & 401(k) to the Brim

Mon, Aug 14th 2017
Some people say that 50 is the new 30. Living longer and healthier lives might make you feel young if you are 50, but your retirement account begs to differ. Anyone who’s turning 50 or older on or before Dec. 31 is allowed to make retirement catch-up contributions starting that year. Catch-up contributions can yield big tax savings, so let’s look at how they work and some ways you can take advantage of the rules. 401(k) plans limit people younger than 50 to a maximum contribution of $18,000 per... Read More »

Eye on Retirement Series 1 - What Is Your Retirement Income Savings Mix?

Mon, Aug 7th 2017
According to a recent study by the Center for Retirement Research at Boston College, the following percentages represent how much the average American will need to rely on personal savings to provide income throughout retirement:     Low-income households: 25 percent Middle-income households: 32 percent High-income homes: 47 percent These numbers reflect the contribution of Social Security income. For Americans with less income, government benefits account for a higher percentage of household... Read More »

Five Reasons to Incorporate Your Business

Mon, Jul 31st 2017
Most new businesses start with no thought about legal structure. In the eyes of the IRS, the default structure is a "sole proprietor," in which your business profits are taxed on your personal tax return. This can serve you well to start, but there are several reasons you may want to consider incorporating as your business grows. To protect your personal assets from creditors. When you operate your business within a corporation, creditors are often limited to corporate assets to satisfy a debt... Read More »

When Business Travel Insurance Makes Sense

Mon, Jul 24th 2017
There are many things that come in pairs because they make sense – peanut butter and jelly, salt and pepper, shoes – the list goes on and on. Travel insurance for business travel is no different. There are inevitable changes to business travel or circumstances that arise while away from home. One way to protect the financial investment of business travel is to consider travel insurance. Many vendors offer travel insurance. Although it is generally more appropriate for international travel, it’s... Read More »

2017 Tax Planning - Changes to Note

Mon, Jul 17th 2017
With the new administration in Washington D.C., tax changes are likely in our future, but the details of those changes are unknown. What we do know about 2017 core tax rates and inflation-adjusted figures will come in handy when you file your 2017 tax return in early 2018. Standard deduction increases. The 2017 standard deduction for single taxpayers and married filing separately increases $50 to $6,350. Head of household increases to $9,350. For those married filing jointly, the deduction goes... Read More »

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