Small Businesses: It may not be not too late to cut your 2019 taxes

Small Businesses: It may not be not too late to cut your 2019 taxes Don’t let the holiday rush keep you from taking some important steps to reduce your 2019 tax liability. You still have time to execute a few…

A divorce necessitates an estate plan review

A divorce necessitates an estate plan review If you’re divorcing, it’s important to review your estate plan as early as possible, for two reasons: First, you may wish to revise your plan immediately to prevent your spouse from inheriting or…

Medical expenses: What it takes to qualify for a tax deduction

Medical expenses: What it takes to qualify for a tax deduction As we all know, medical services and prescription drugs are expensive. You may be able to deduct some of your expenses on your tax return but the rules make…

Holiday parties and gifts can help show your appreciation and provide tax breaks

Holiday parties and gifts can help show your appreciation and provide tax breaks With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to employees and…

Have you considered making direct payments of tuition and medical expenses?

Have you considered making direct payments of tuition and medical expenses? With the lifetime gift and estate tax exemption at $11.40 million for 2019 ($11.58 million for 2020), you may think you don’t have to worry about gift and estate…

Last-minute tips that may help trim your tax bill

Last-minute tips that may help trim your tax bill If you’re starting to fret about your 2019 tax bill, there’s good news — you may still have time to reduce your liability. Three strategies are available that may help you…

Valuable year-end tax-saving tools for your business

Valuable year-end tax-saving tools for your business At this time of year, many business owners ask if there’s anything they can do to save tax for the year. Under current tax law, there are two valuable depreciation-related tax breaks that…

A buy-sell agreement can provide the liquidity to cover estate taxes

If you own an interest in a closely held business, it’s critical to have a well-designed, properly funded buy-sell agreement. Without one, an owner’s death can have a negative effect on the surviving owners. If one of your co-owners dies,…