Tax Credits and Tax Deductions: What’s the Difference?

If you want to end up owing less money to the IRS after filing your taxes (and who doesn’t?), claiming tax credits and deductions can greatly help to shrink that number. However, because they work in different ways, understanding the difference between a tax credit and a tax deductible...... Read More

End-of-the-Year Tax Planning Tips for Your Small Business

We are nearly two years into the sweeping Tax Cuts and Jobs Act of 2017, the largest major tax reform in over 30 years, and one thing remains clear: strategic tax planning is key to lowering a business’s total tax liability. Below are some tips to think about implementing...... Read More

Starting a Business? Here’s What You Need to Know About Self-Employment Taxes

Self-employment definitely has its perks, but being the master of your own ship also means answering to the IRS. Before jumping into your entrepreneurial adventure, make sure to learn the practicalities of self-employment taxes. Below are some crucial points that tax experts suggest any novice entrepreneur consider prior to...... Read More

How to Claim Social Security Survivor Benefits

When a spouse passes away, the surviving spouse is likely eligible for Social Security survivor benefits, but to get these benefits, the survivor has to be proactive. This is especially crucial if the survivor is caring for children under the age of 18. According to the SSA, Social Security...... Read More

How to Make the Most of Your 529 Plan

529 educational savings plans allow an account holder to invest their money for a beneficiary in high-growth assets such as stocks, and withdraw the funds tax-free for qualifying educational expenses, like tuition, fees, and textbooks. With college costs on the rise, it’s imperative to make the most of these...... Read More

Brokerage Accounts are Trending. Here Are the Pros and Cons

The amount of investors using brokerage accounts has increased in recent years as savers look to maximize emergency funds. Read on to learn what a brokerage account is, the pros and cons of using one, and if it could be right for you. What is a Brokerage Account? A...... Read More

Small Business Expansion: Options for Commercial Real Estate Loans

So you’re ready to take that big step and embark on a brick-and-mortar venture, or maybe you’re ready to expand your thriving brick-and-mortar business. If you’re looking to move into a commercial space or heavily renovate the space you’re in now, you’ll likely need a commercial real estate loan,...... Read More

How to Avoid Paying Capital Gains Tax When You Sell Your Home

Taxes are an inevitable part of the process when selling your home, but a few strategies and in-the-know tips can help you minimize the amount you pay on your profits – also called capital gains tax. What Is Capital Gains Tax? When you sell property for more than you...... Read More

401(k) Management: The Foundation for a Golden Retirement

The most common retirement plan offered by employers is the 401(k), which puts a portion of your paycheck, often along with an employer-sponsored incentive in the form of a percent match, into an account. You can set this account to a target date fund, or you can take a...... Read More

How Your Small Business Could Be Saving More Money

Nearly every small business is subject to nonessential expenses that effectively make them less efficient and profitable. Some expenses may seem small, but they add up over time. Below are some tips in frugality that can have a positive impact on your bottom line. Rainy Day Savings It’s wise...... Read More