Employee Matching Retirement Contribution Plans for The Self-Employed
Are you self-employed and still want an employee matching retirement contribution plan? Well, you can with a SIMPLE IRA.
Are you self-employed and still want an employee matching retirement contribution plan? Well, you can with a SIMPLE IRA.
Being a sole proprietor has its tax advantages. Find out how you can benefit.
Buying a home can be a complex issue in itself and that’s on top of just being able to afford it. Here are some tips to bring it closer to reality.
If you realize you made a mistake on your taxes you already filed. Don’t worry, here’s what you need to do. If you filed your taxes by the deadline only to now find a mistake, you don’t need to worry. Usually, all you have to do is file an amended tax return (Amended U.S. Individual […]
So your friend was in a pinch and you thought they’d be good for it and they weren’t. It’s not all bad; you can lower your taxable income as a result.
Grandparents can help with college and lower taxable income. A grandparent helping their grandchild pay for college can be a win all around. When a grandparent that contributes to a 529 savings plan, it lowers assets within the grandparent’s estate. This helps lowering estate tax.
Reverse Mortgages are usually marketed in an appealing way. This could lead to someone asking how is it possible to pay a mortgage in reverse? A reverse mortgage (also known as HECM, Home Equity Conversion Mortgage) works much like a regular mortgage but instead of you making a payment each month to the lender, the […]
Taxes get more complicated for most businesses than they do for individual taxpayers. And not knowing the laws applicable to you is not a justified reason to not comply. Here’s a guide to debunking common myths about business and taxes.
Make the most out giving to charity by benefiting from all the available tax breaks you’re entitled to.
Tax planning is the practice of analyzing multiple tax options to decide how you want to operate your business as well as your individual transactions to minimize or wipe out your tax liability.
See if your moving expenses qualify for a deduction.
Forgot or put off your tax return? Here’s what you need to know. It’s going to be ok. Or at least if you take care of it now, it’s going to be better than it will be if you keep avoiding filing your return.
Learn how your personal vacation can be turned into a legal deduction.
Automatic reinvestment is a great strategy but is still subjected to being taxed. Many mutual funds give you the choice of automatically reinvesting dividends and capital gain allocations back into the fund. This is an excellent option to acquire new shares and build your investments.
With a working knowledge of how mutual funds are taxed along with some diligent bookkeeping, you can reduce the amount your mutual investments are taxed on. The below gives you the understanding you need of mutual fund taxation.