The Top 4 Things That You Need To Know About The Trade War With China
The trade negotiations between the U.S. and China have been the center of the stock market’s attention for the past 6 months. One day it seems like they are close to a deal and then the next day both countries are launching new tariffs against each other. While many...
read more
How Much Emergency Fund Should You Have And How To Get There
How Much Emergency Fund Should You Have And How To Get There If you watched the nightly news during the latest government shutdown you would have seen stories about how people struggle when they aren’t getting a paycheck. Most Americans are not immune to having a set...
read more
STAR Property Tax Credit: Make Sure You Know The New Income Limits
The STAR Credit is a great way to reduce your property taxes in New York. If you are over the age of 65, it gets even better with the Enhanced STAR Credit. But you have to know the income limits associated with the credit otherwise you could unexpectedly lose...
read more
Why Do You Owe More In Taxes This Year?
“I thought there was a tax break. Last year I got a refund. This year, I owe money to the IRS. How did this happen and what do I need to change to fix this?” As more and more people file their taxes for 2018, the situation described above seems to be...
read more
How To Change Your Residency To Another State For Tax Purposes
If you live in an unfriendly tax state such as New York or California, it’s not uncommon for your retirement plans to include a move to a more tax friendly state once your working years are over. Many southern states offer nicer weather, no income taxes, and...
read more
Should You Put Your House In A Trust?
When you say the word “trust” many people think that trusts are only used by the uber rich to protect their millions of dollars but that is very far from the truth. Yes, extremely wealthy families do use trusts to reduce the size of their estate but there are...
read more
Advanced Tax Strategies For Inherited IRA’s
Inherited IRA’s can be tricky. There are a lot of rules surrounding; Establishment and required minimum distribution (“RMD”) deadlines Options available to spouse and non-spouse beneficiaries Strategies for deferring required minimum distributions...
read more
The Accountant Put The Owner’s Kids On Payroll And Bomb Shelled The 401(k) Plan
Big Issue The higher $12,000 standard deduction for single filers has produced an incentive in some cases for business owners to put their kids on the payroll in an effort to shift income out of the owner’s high tax bracket into the children’s lower tax...
read more
Percentage of Pay vs Flat Dollar Amount
Retirement Contributions - Percentage of Pay vs Flat Dollar Amount Enrolling in a company retirement plan is usually the first step employees take to join the plan and it is important that the enrollment process be straight forward. There should also be a...
read more
Navigating Student Loan Repayment Programs
I had the fortunate / unfortunate experience of attending a seminar on the various repayment programs available to young professionals and the parents of these young professionals with student loan debt. I can summarize it in three words: “What a mess!!” As...
read more
