Tax policy is poised to take center stage in the coming year as the expiration of the 2017 Tax Cuts and Jobs Act (TCJA) approaches in 2025. Enacted as the most comprehensive tax reform in 30 years, the TCJA introduced sweeping changes impacting both individual and...
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Retirees Can Maximize Their Year-End Tax Break for Charitable Giving with This Strategy
As the year comes to a close, retirees have an opportunity to combine their philanthropic goals with smart tax planning. A Qualified Charitable Distribution (QCD) can help retirees reduce their taxable income, meet required minimum distributions (RMDs), and make a...
Important Changes to IRAs and 401(k)s to Watch for in 2025
Due to the SECURE Act 2.0, several updates to Individual Retirement Accounts (IRAs) and 401(k) plans are scheduled for 2025. These changes will be rolling out over the next few years. Understanding these modifications can help you save money, avoid penalties, and plan...
How Trump’s Second Term Might Impact Small Businesses
The nation is now gearing up for another Trump term, and his policies will likely have a significant impact on small businesses. Critical areas like tax cuts and deregulation, which were central to his first term, are expected to take the spotlight once again. Here’s...
How to Grow Your Business to Make it Appealing to Potential Buyers
As a small business owner, the thought of selling your business may be on the horizon, whether in the near future or several years down the line. To attract potential buyers and secure a favorable deal, you need to position your business for maximum appeal. Here are...
How the Increase in Required Minimum Distribution (RMD) Age Impacts Retirees’ Finances
When retirees prepare for the future, it’s essential to understand how Required Minimum Distributions (RMDs) can affect retirement savings and taxes. RMDs are mandatory withdrawals from specific tax-deferred retirement accounts, and they play a key role in retirement...
This New SBA Rule Could Help Small Businesses Refinance Debt
On October 1, the Small Business Administration (SBA) introduced a major update to its 504 Loan Program, intended to simplify the process for small businesses to refinance existing debt. The 504 Loan Program provides long-term, fixed-rate financing for essential...