Profit Sharing and Your Small Business

Business owners who want to sponsor a retirement plan for employees (including owner-employees) have many options from which to choose. Knowing the basics can help entrepreneurs make the best decision. One choice is a “profit-sharing” plan. Despite its name, your company doesn’t need to tabulate its earnings every year and divide that amount among its workers. Instead, […]

The “Other” Exchange Traded Fund

Exchange-traded funds (ETFs) have become popular in this century, due largely to relatively low expenses and tax efficiency. As the name indicates, ETFs trade like stocks, on an exchange, as opposed to mutual funds, which typically are bought from and sold to the sponsoring company. Often, ETFs track a particular market index. Less publicized these […]

IRAs – Quick Refresher

Here is a quick refresher for IRA contribution information for 2016 and 2017: • For 2016 and 2017, total contributions to traditional and Roth IRAs cannot be more than $5,500, or $6,500 for those age 50 or older. • IRA contributions can’t exceed taxable compensation for the relevant year. • Contributions to a traditional IRA […]

Hard-to-Value IRAs: Proceed with Caution

A new year begins with celebrations, resolutions, and dual IRA opportunities. Most workers and their spouses have until April 18, 2017 (April 19 in some states), to contribute to an IRA for 2016. At the same time, contributions to 2017 IRAs are now permitted; the earlier money goes into the account, the more time for […]

2017 Tax Calendar

The 2017 tax filing season is quickly approaching and recent changes in legislation have resulted in adjustments to a few of the usual deadlines. Below you will find an overview of important dates for the different entities and the forms necessary for filing. Please keep these in mind as you begin to work with your Tax Preparer. […]

Estimated Taxes for Business Owners

April 1 may be April Fool’s Day, but in 2017, April 18 might be considered April’s cruel day. Not only do you have to pay any income tax due for the previous year, you also may have to make an estimated tax payment for the current year. A poor estimate might result in either an […]