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Backdoor Roth
Among the many provisions in the multi-trillion-dollar legislative package being debated in Congress is a provision that would eliminate a strategy that allows high-income investors to pursue tax-free retirement income: the so-called back-door Roth IRA. The next few...
Year-End Individual Tax Tips
The window of opportunity for many tax-saving moves closes on December 31, so it's important to evaluate your tax situation now, while there's still time to affect your bottom line for the 2022 tax year. Timing is Everything Consider any opportunities you have...
Year-End Business Tax Tips
End of year-tax planning starts by developing a baseline of your business’ activity. Once you know your starting point, you can consider planning strategies based on your goals which may vary from tax minimization to cash maximization and everything in between. Here...
Open Enrollment: Maximize Your Benefits
Open enrollment is the window of time when employers introduce changes to their benefit offerings for the upcoming plan year. If you're employed, this is your once-a-year chance to make important decisions that will affect your health-care choices and your finances....
S-Corporation Owner-Employee Compensation
A corporation must satisfy several requirements to be eligible for treatment as an S-Corporation for federal income tax purposes. However, qualification as an S-Corporation offers a potential tax benefit unavailable to a C corporation. If a qualifying corporation...
Preparing Your Estate Plan
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the 2010 Tax Act) included new gift, estate, and generation-skipping transfer (GST) tax provisions. The 2010 Tax Act provided that in 2011 and 2012, the gift and estate tax basic...