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As we continuously seek the best health care solutions for our clients, I want to introduce you to an alternative that may align with your financial goals and personal values: health care sharing ministries (HCSMs). HCSMs are not your typical health insurance. They are non-profit organizations that enable members...

If you’re trying to decide between leasing and buying your next business vehicle, one question is probably foremost in your mind: Which option costs less? Unfortunately, comparing the costs of leasing and buying isn’t as simple as it looks. To do it right, you must consider not just out-of-pocket...

The Corporate Transparency Act (CTA) is upon us. It takes effect on January 1, 2024, and imposes a new federal filing requirement for most corporations, limited liability companies (LLCs), and other business entities. Corporations, LLCs, and other entities subject to the CTA are called “reporting companies.” People who form...

Are you interested in becoming a commercial or residential landlord? If so, you’ll likely have to shell out plenty of money before ever collecting a dime in rent. The tax code treats some of those monies as start-up expenses. Start-up expenses are some of the costs you incur before...

Here’s a short overview to assist you, as a non-U.S. citizen, in understanding the essential tax and related issues you should consider while pursuing your business ventures in the United States. U.S. citizenship. You can start a business in the U.S. without being a U.S. citizen. If you will...

Here is some important information regarding the net investment income tax (NIIT), which may be relevant to your financial situation. NIIT Overview The NIIT is a 3.8 percent tax that could apply if your modified adjusted gross income (MAGI) exceeds $200,000 (single filers), $250,000 (married, filing jointly), or $125,000...

For existing businesses, the Corporate Transparency Act (CTA) goes into effect on January 1, 2024, and imposes a brand-new federal filing requirement on most corporations, limited liability companies, and limited partnerships and on certain other business entities. No later than December 31, 2024, all non-exempt business entities must file...

The SECURE 2.0 Act, enacted in late 2022, is changing your retirement plan’s ability to allow catch-up contributions. Enhanced Catch-Up Limits (2025 Onward) One of the major updates introduced by SECURE 2.0 is the enhancement of catch-up contribution limits for individuals aged 60 to 63. Starting in 2025, the...

I am writing to share some important insights regarding tax-loss harvesting, a strategy that can be beneficial for managing your investments and tax obligations. While tax-loss harvesting is often considered a year-end tactic, it’s also applicable whenever you need to offset gains, especially looking ahead to 2024. The wash-sale...

Remember to consider your Section 199A deduction in your year-end tax planning. If you don’t, you could end up with an undesirable $0 for your deduction amount. Here are three possible year-end moves that could, in the right circumstances, simultaneously (a) reduce your income taxes and (b) boost your...

Wow, how time flies! Yes, December 31 is just around the corner. That’s your last day to find tax deductions available from your existing business and personal (yes, personal) vehicles that you can use to cut your 2023 taxes. But don’t wait. Get on this now! 1. Take Back...

The purpose of this letter is to reveal how you can get the IRS to owe you money. Of course, the IRS will not likely cut you a check for this money (although in the right circumstances, that will happen), but you’ll realize the cash when you pay less...