Archives
What You Need to Know About IRS Form 5500
July 30, 2024
If your business offers employee benefits, you need to know about IRS Form 5500. It is an important compliance form with specific regulations and deadlines that should be understood when it comes to your company’s annual tax planning. What is… Read Now >>
Consider a Roth IRA Rollover to Avoid an Overfunded 529 Plan
July 24, 2024
Have you established a Section 529 savings plan for a child, grandchild or other family member? Even if you are just thinking about this college savings strategy, it’s important to understand how it works and what your options are when… Read Now >>
12 Exemptions to Avoid the Early IRA Withdrawal 10% Tax Penalty
July 17, 2024
When you make an early withdrawal from a traditional IRA before the age 59.5, it will generally incur a 10% penalty tax on the taxable portion of the withdrawal. There are several exceptions to this rule that can help you… Read Now >>
The Potential Tax Benefits of Cost Segregation
July 10, 2024
One significant tax benefit of owning residential rental property, commercial property or other types of investment property is depreciation. You can take a tax deduction without spending any additional money. However, regular depreciation for real property is slow. Residential income… Read Now >>
3 Key Benefits of Opportunity Zone Investments
June 26, 2024
Opportunity Zones present a compelling investment opportunity for entrepreneurs looking to achieve both financial returns and make a significant social impact. Initiated by the Tax Cuts and Jobs Act of 2017, these zones aim to promote economic development in underserved… Read Now >>
Ensure Your Legacy with These Tax-Efficient Wealth Transfer Strategies
June 18, 2024
For entrepreneurs who have spent a lifetime building their businesses, planning for the smooth transfer of this wealth to the next generation is a critical aspect of legacy building. However, without careful planning, tax implications can significantly impact the value… Read Now >>
How Recent Tax Law Amendments Impact Entrepreneurs
June 11, 2024
The landscape of entrepreneurship is constantly evolving, and so are the tax laws that govern it. Recent tax law amendments present both challenges and opportunities for successful entrepreneurs. Staying ahead of these changes is not just about compliance. It’s about… Read Now >>
Alternative Investment Tax Strategies for Successful Entrepreneurs
June 4, 2024
In the dynamic world of successful entrepreneurship, diversification goes beyond just a buzzword—it’s a strategic necessity. Alternative investments can span from venture capital and private equity to real estate and commodities. Many of these investment opportunities promising avenues for growth… Read Now >>
How to Leverage Donor-Advised Funds (DAFs) for Tax Efficiency
May 22, 2024
When it comes to philanthropy, the adage “not only giving but giving wisely” is a great approach to consider. This is especially true for successful entrepreneurs looking to make a meaningful impact with their wealth. Donor-Advised Funds (DAFs) have emerged… Read Now >>
The Financial Advantages of an Exchange Fund
May 15, 2024
Exchange funds (also known as “swap funds”) offer a distinctive approach to investment akin to mutual funds. However, participants offer stocks instead of contributing cash. These funds amalgamate the sizable stock holdings from various investors to substitute a single, concentrated… Read Now >>
