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...
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...
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...
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...
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...
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...
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...
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...
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...
Audit data analytics is going through an exciting time. There’s a lot of growth and a lot of new tools being offered. The movement recently towards updating the audit evidence standards is going to really open the floodgates for audit data analytics. Audit analytics gives practitioners...