According to the National Small Business Association, the economic growth of small businesses benefits substantially with access to small business financing. Small business loans are also key to purchasing inventory, equipment, and real estate; getting a start-up off...
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Breaking Down Taxes: Here Are the Main Types We Pay in the U.S.
The U.S. tax system is complex, but understanding the different taxes we pay can be a beneficial tool for financial planning. Below is a broad overview of the most common types of taxes we pay in the U.S. Income Tax Income taxes, which are levied on personal income,...
How the SECURE Act Could Affect You
The Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law at the end of 2019 and aims to provide Americans with extra provisions to save or prepare for retirement. Here’s how it could affect you. Greater Access to Retirement Plans...
How to Prevent Tax Identity Theft
How to Prevent Tax Identity Theft While the beginning of a new year may be a time for resolutions, clutter purges, and healthy eating goals, it’s also the beginning of tax season, which means identity thieves are on the prowl and looking for opportunities to steal...
Year-End Tax Planning in the TCJA Era
The sweeping piece of legislation known as the Tax Cuts and Jobs Act (TCJA) provided a steep learning curve last year, and while it still remains complicated, having some experience under our belts has us better prepared to tackle taxes in the TCJA era. Below is a...
Tax Tips to Implement Before the New Year
The end of 2019 is quickly approaching, and in keeping with the changes implemented by the Tax Cuts and Jobs Act, focusing on lowering taxable income rather than maximizing tax deductions remains a good move for most working Americans. Read on for a few key moves to...
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...
