Three Basic Questions about Taxes

Taxation is a big deal. Most people don’t realize the amount of destruction taxes can wreak on their ability to create and generate wealth. Here is a short list of some of the major taxes we are paying: Federal Income Taxes, State Income Taxes, Property Taxes, Gasoline Tax, Sales Tax, and Car Registration Tax. With […]

Read More »

donor-advised funds

We recently met with our accountant and he was sharing his view on and updates of the new tax plan that was passed.  Bottom line, it is going to be tougher to itemize on your tax return moving forward. To begin with, the standard deductions have been moved up to $12,000 for single and $24,000 […]

Read More »

the mortgage interest misconception

We meet with a lot of people and constantly hear they are benefiting from the mortgage interest deduction on their taxes but the reality is … most aren’t. For this to make sense, you have to first understand the tax code and your tax return. To benefit from a deduction of your mortgage interest on […]

Read More »

S Corp + HRA

Tired of paying out the nose in taxes?  These two changes to your corporate structure could save you over $2,500 in cash-flow this year. So, what are they? First, let’s talk compliance.  We are not tax advisors, we are not accountants and we are not CPA’s.  We are fellow business owners and entrepreneurs tired of […]

Read More »

The missing piece to your retirement… and here is why!

As tens of thousands of baby boomers move into their sixties on a daily basis, they meet with their financial advisors, most of whom are employees and as such, these boomers will go without the full scope of retirement planning services. What do I mean by that? The IRS tax code is built for business […]

Read More »

Three Ways to Reduce your Provisional Income

There are really only three ways to reduce your provisional income.  We learned in our last article that provisional income is a measure used by the IRS to determine whether or not recipients of Social Security are required to pay taxes on their benefits. Provisional income is calculated by adding up a recipient’s gross income, […]

Read More »

Two words regarding Social Security – Provisional Income

There are lots of advisors out there holding luncheons, steak dinners and seminars trying to scare seniors into giving them their numbers, so they can provide them with a “Social Security report” or “filing strategy.” This is a marketing ploy to get more clients. You are tantalized with the thought of missing out on hundreds […]

Read More »