Each year, adjustments are made to the Social Security program to ensure that benefits remain in sync with changes in inflation and wages. The annual revisions for 2024 took effect this month. The majority of these changes have the potential to affect benefit payments...
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Changes Are Coming to 529 Plans. Here’s What You Should Know
A 529 plan is widely recognized as an optimal strategy for funding your child’s higher education. With a recent federal law coming into play this year, 529 plans have gained added allure as a savings tool. In this article, we’ll delve into the details of this...
Key Tax Strategies for Self-Employed Professionals to Maximize Money Savings
Self-employed professionals juggle numerous responsibilities, and while taxes are often a top concern, devising a strategic plan typically gets pushed down the priority list. This can lead to overpaying taxes. Read on for some tax strategies to help self-employed...
Why the IRS Pressed Pause on the COVID-Era Employee Retention Tax Credit for Small Businesses
In response to a surge in questionable claims, IRS Commissioner Danny Werfel recently issued a directive to halt the immediate processing of new applications for a pandemic-related small business tax benefit. The employee retention credit (ERC), which was designed to...
Navigating Job Transitions: A Guide on What to Do with Your 401(k)
It is not uncommon to face career transitions at some during your time in the workforce. Whether you’re seizing new opportunities or facing unexpected challenges like a layoff, addressing the financial aspects, particularly your 401(k) plan, is essential to moving...
These Four Strategies Are Helping Small Businesses Rise Above High Inflation
Inflation typically tightens profit margins and threatens the long-term viability of small businesses. Despite this challenge, they are proving to be resourceful in navigating the unpredictable economic landscape by adopting innovative approaches. This article...
The Small Business Benefits of Charitable Giving Go Beyond Tax Deductions
Charitable giving is a powerful way for small businesses to give back and help make a meaningful difference in communities. While the potential for tax deductions often serves as a compelling incentive for businesses to engage in philanthropy, this article discusses...
