Retirement security is tricky. Traditional defined benefit plans have contribution volatility that is difficult for sponsors to manage. Defined contribution ...
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Do you own a traditional IRA, SEP-IRA, SIMPLE IRA, Keogh plan, 401(k) plan, or 403(b) plan? If so, you'll have to start taking distributions when you reach age 70½. If you don't, you'll
Take time to make payments to your retirement plan or to set one up. Contributing to an IRA, Keogh, simplified employee pension (SEP), or other retirement plan is a great way to reduce your taxable income and plan for the future. There are different rules, contribution limits, and deadlines, depending on the plan you choose. Make an appointment with your CPA to discuss the best alternative for your business
HIRE YOUR CHILDREN
If youâre a self-employed taxpayer, you can reduce your taxable…
posted Jan 8, 2016 by KLR in the Global Tax Blog
Let’s take a look back as the year’s most popular blog posts
1099 Filling Question: Can My Company Issue a 1099 Using only Partial Social Security Numbers? – How can I meet the guidelines and still protect the identities of recipients? When filing Form 1099, if an employee is reluctant to provide a social security number or tax ID, the IRS allows you to truncate payee identification numbers if you meet certain…
Some common expenses of doing business can be overlooked at tax-time
Remember These Tax Deductions for Your Trucking Business
Business Management, Finance, Trucking
Friday, Apr 07 2017
Whether you operate under your own authority or lease on to a carrier, any expense related to running your trucking business is tax-deductible
Below are some common business expenses that are sometimes overlooked when owner-operators file their taxes. Remember…
1035 Exchange
A method of exchanging insurance-related assets without triggering a taxable event. Cash-value life insurance policies and annuity contracts are two products that may qualify for a 1035 exchange
401(k) Plan
A qualified retirement plan available to eligible employees of companies. 401(k) plans allow eligible employees to defer taxation on a specific percentage of their income that is to be put toward retirement savings; taxes…
Small-business tax rule No. 1: Don't mess with the IRS. But that doesn't mean you should cheat yourself. Take every legal deduction you can. Here are a dozen that even savvy small-business owners and entrepreneurs sometimes forget. 1. Home office Concerned that claiming a home office deduction is tantamount to sending an engraved invitation to an IRS auditor? Don't be, says Jan Zobel, author of "Minding…