Personal financial planning is an ongoing process. The good news is that financially speaking, 2016 was another really good year. The stock markets are once again at all time highs. Same can be said for many real estate markets around the country. And interest rates remain near historic lows. Hello 2017. Who knows how financially… Continue reading RE: 2017
Category: Planning
Summer Weddings Mean Tax Changes
Summer wedding? Congrats! Make sure to review these IRS tips on the tax issues that come along with marriage, too! IRS Summertime Tax Tip 2014: Taxes may not be high on your summer wedding plan checklist. But you should be aware of the tax issues that come along with marriage. Here are some basic tips… Continue reading Summer Weddings Mean Tax Changes
Locum Tenes Provider Guide
Are you a Locum Tenes Provider? If so, you'll want to read Andrew's Tax Guide for Locum Tenens Providers published by Barton Associates. It covers the key tax implications of being an independent contractor and tax tips you can apply immediately. You can download a free pdf copy here..
RE: EIGHT RESOLUTIONS TO IMPROVE YOUR PERSONAL FINANCES
Personal financial planning is an ongoing process. The good news is that financially speaking, 2013 was a really good year. The stock markets are at all time highs. Many real estate markets around the country rebounded nicely. And interest rates remain near historic lows. Hello 2014. Who knows how financially friendly this year will be?… Continue reading RE: EIGHT RESOLUTIONS TO IMPROVE YOUR PERSONAL FINANCES
IRS Increases Retirement Plan Limits for 2014
Contributing to a retirement plan is one of the best tax shelters available to you during your working years. Recently, the IRS announced that most of the retirement savings limits will NOT increase for 2014. RETIREMENT PLAN LIMITS FOR 2014: Savings Opportunity Maximum Contribution for 2014 401(k) or 403(b) Deferrals $17,500 in 2014 Roth and Traditional… Continue reading IRS Increases Retirement Plan Limits for 2014
Checklist to Cut your 2013 Tax Bill
It's not too late to cut your 2013 tax bill. Prior to Dec. 31st: Increase your 401(k) and 403(b) contributions if you haven't been contributing at the maximum rate all year. This year you can put away up to $17,500 ($23,000 if 50 or older) into your 401(k) or 403(b) plan. If you’re self-employed, consider… Continue reading Checklist to Cut your 2013 Tax Bill
DOMA Decision and Federal Tax Impact on Same Sex Married Couples
by Richard S. Schwartz CPA. CVA NOTE: On August 29th,the IRS announced that all legal same-sex marriages will be recognized for federal tax purposes. In June 2013, the US Supreme Court overturned Section 3 of the Defense of Marriage Act (DOMA), which defined a marriage as a union between a man and a woman for… Continue reading DOMA Decision and Federal Tax Impact on Same Sex Married Couples
Tips if you Owe Taxes
While most taxpayers get a refund when they file their taxes, some do not. Here are some tips and options from The IRS if you owe federal taxes: 1. Tax bill payments. If you get a bill from the IRS this summer, you should pay it as soon as possible to save money. You can pay by check,… Continue reading Tips if you Owe Taxes
Keep Financial Records Safe in Case of a Disaster
From IRS News: Hurricanes, tornadoes, floods and other natural disasters are more common in the summer. We encourage you to take a few simple steps to protect your tax and financial records in case a disaster strikes. Here are five tips from the IRS to help you protect your important records: 1. Backup Records Electronically. Keep… Continue reading Keep Financial Records Safe in Case of a Disaster
Now’s the time for Mid-Year Projections
Now's the time to get a Mid-Year Tax Projection to see how you'll do on April 15 next year. If you have self-employment income, made a job change during the year, have multiple sources of income, or just want to see where you stand tax-wise, our Mid-Year Tax Projection Service will help! We'll calculate a… Continue reading Now’s the time for Mid-Year Projections
Disability Business Overhead Expense Insurance
By guest author Lawrence B. Keller, CLU, ChFC, CFP® As the owner of a medical or dental practice, you are the key to its success. Your patients and staff rely on you. If you become disabled, you may be unable to provide the services your patients expect or the leadership that your employees need. Overhead… Continue reading Disability Business Overhead Expense Insurance
Tips for Taxpayers Who Travel for Charity Work
From IRS Tax Tips Newsletter: Do you plan to travel while doing charity work this summer? Some travel expenses may help lower your taxes if you itemize deductions when you file next year. Here are five tax tips the IRS wants you to know about travel while serving a charity. 1. You must volunteer to work… Continue reading Tips for Taxpayers Who Travel for Charity Work
Will mortgage rate increases cool a hot housing market?
By our guest writer Bob Cahill: Of course no one really knows if the increase in mortgage rates will cool a hot housing market. The answer depends on factors that are worth watching in the coming months, especially if you’re in the market to purchase. First of all, positive economic conditions and improved employment have… Continue reading Will mortgage rate increases cool a hot housing market?
Tax Tips for Newlyweds
From IRS Tax Tips: Late spring and early summer are popular times for weddings. Whatever the season, a change in your marital status can affect your taxes. Here are several tips from the IRS for newlyweds. It’s important that the names and Social Security numbers that you put on your tax return match your Social Security… Continue reading Tax Tips for Newlyweds
PLAN FOR YOUR DIGITAL ASSETS
Today we're featuring an article written by our Guest Writer Attorney Neil Cohen: Have you planned for your digital assets? How can you when you are not even sure what they are or if you have any? Digital assets is a relatively new term used to describe a long list of items related to cyberspace and computing… Continue reading PLAN FOR YOUR DIGITAL ASSETS
‘TIS THE SEASON TO DO SOME CLEANIN’
For our May newsletter, I wrote an article called Spring Clean Up. I pitched the idea to the crew at QuantiaMD about turning the various sections from that article into a series of four podcasts. They agreed, and then added video and poll questions to my silky tones, which help explain the four topics addressed… Continue reading ‘TIS THE SEASON TO DO SOME CLEANIN’
Part 2: New Tax Rules – Strategies to Minimize your Tax Bill
In my previous post, I wrote about new tax rules for 2013. In today's Part 2, I'll cover various strategies you can use to minimize your tax bill in light of these new tax rules. Plan Your Revenue & Expenditures Most healthcare professionals are on the "Cash Basis" of accounting, which means that: Income is… Continue reading Part 2: New Tax Rules – Strategies to Minimize your Tax Bill
Part 1: New Tax Rules, Hikes and Strategies for 2013
Tax hikes in 2013 mean it's time to revisit available tax breaks. Effective 1/1/13, taxes increased for many well-paid Americans. Here are three separate tax hikes that might affect you: Top federal income tax rate now 39.6% Top Medicare tax on earned income now 3.8% New 3.8% Medicare tax on unearned income Beginning on January… Continue reading Part 1: New Tax Rules, Hikes and Strategies for 2013
Summer Job Alert for your Working Kids: Claim Exempt
I graduated from Wharton in 1987. For those of you keeping score at home, that means I've been working at my practice for a score and a quarter plus one. Now that I've been practicing for twenty-six years, many of the clients I picked up earlier in my career have children in high school or… Continue reading Summer Job Alert for your Working Kids: Claim Exempt
Spring Clean Up Project #3: Your Credit Report
Currently, three companies, Equifax, Experian, and TransUnion, track everyone's credit histories. Don't forget that banks, lenders, retailers, landlords, and other "credit grantors" use credit reports generated by these companies to determine your creditworthiness. Why not take this opportunity to clean up incorrect or misleading information reflected on your credit reports? Your credit report reflects quite… Continue reading Spring Clean Up Project #3: Your Credit Report