9 Facts About HSAs That Might Surprise Our Clients

Health savings accounts (HSAs) are projected to surpass $100 billion in assets in 2023, showing that consumers are realizing the potential power of HSAs, including as a significant wealth-building tool. The fact that the HSA individual contribution limit is lower than that for deductible contributions to an individual retirement account (IRA) has led to HSAs […]

How are Tax Planning and Financial Planning Connected?

Tax planning is the strategy of arranging your affairs in ways that postpone or reduce taxes. By employing effective tax planning strategies, you can have more money to save and invest or more money to spend, or both. Financial planning is the art of implementing strategies that help you reach your financial goals, be they […]

3 Critical Shifts For Clients In Retirement

Whether we are your business advisors or your tax preparers,  if you are one of the 10,000 Baby Boomers turning 65 every day, your need for retirement planning has never been greater. Retirees need to make three critical shifts in thinking to obtain the most enjoyment out of their golden years, and as CPAs, we […]

Strategies To Prepare For Your Child’s Financial Future

Want to know how to ensure your child’s financial success in the future? One of the best ways to set your children up for success is to start saving for their future now. It’s incredibly beneficial to invest at a young age because they have time on their side, meaning compounding interest has plenty of time […]

Retirement transition: Crucial decisions

As CPAs, we encounter our clients’ life events many times, while each client encounters them just once. This experience allows our team to compare, learn, and develop tools to give expert advice to all our clients. When it comes to transitioning to retirement, Social Security is a big consideration, and clients look for our advice. […]

Why it’s romantic to talk about money

They say money can’t buy love, but it can buy heartbreak. Love and finances are exceedingly complex subjects, so it makes sense that it only gets more complicated when you combine them. With Valentine’s Day just around the corner, the AICPA® Financial Literacy Commission encourages Americans to give their loved ones the gift of an […]

Best advice for your tax refund

My advice typically is to strategically plan for your tax obligation throughout the year, thus minimizing your refund at tax time (which is really your money that the government saved for you throughout the year without paying you any interest on it), but many clients like to have spring refund “windfall”. So what is the best […]

Tax And Financial Planning Tips For Retirement

Retirement is an exciting time. After a lifetime of hard work, you’re finally ready to focus on family, travel, and hobbies. But just because the work stops doesn’t mean taxes do. When your income is fixed, taxes can take on a whole new hue. Whether you’re retiring now or simply thinking about your future, here […]

Planning Opportunities For The Final Tax Return

When a family member passes away, there are many decisions that need to be made and many emotions to handle. The last thing anyone thinks about is taxes. Several tax attributes and related tax planning opportunities are lost when a taxpayer dies. However, careful and thoughtful pre-planning for clients who are elderly or nearing death […]

Child Tax Credit

Recently, there were important changes made to the child tax credit that will benefit many taxpayers. As part of the American Rescue Plan Act that was enacted in March 2021, the child tax credit: Amount has increased for certain taxpayers Is fully refundable (meaning taxpayers can receive it even if they don’t owe the IRS) […]