Ukraine War SitRep, Part 3
Last month I provided a Situation Report (SitRep) on the Ukraine war in the areas of geography; air; sea; cyber/comms; information; infrastructure/petro; and economic warfare. This month I will analyze… Read More
Community Blogs
Are You Prepared For The Tax Cuts and Jobs Act (TCJA) Sunset?
The Tax Cuts and Jobs Act (TCJA) of 2017 brought about significant changes to the United States tax system, impacting individuals, families, and businesses alike. However, it’s crucial to recognize… Read More
Payable-on-Death Accounts: Beneficial Tools if Used Correctly
Payable-on-death (POD) accounts can be a quick, simple and inexpensive way to transfer assets outside of probate. They can be used for bank or credit union accounts, certificates of deposit… Read More
Tax Records: What Can You Toss and What Should You Keep?
Generally, the IRS has three years to audit a tax return, from the later of the due date of the return or the date you file. You can also file… Read More
Ukraine War SitRep, Part 2
Who is winning the war in Ukraine? Everyone knows the answer, right? The Situation Report (SitRep) is that Ukraine is losing, correct? Maybe. Let’s figure it out. To do this,… Read More
Handling Large Cash Transactions
A reminder for businesses: Within 15 days of a $10,000 transaction, you must use IRS Form 8300 to report the transactions. If you file electronically, forms are delivered to the… Read More
A Strategy to Raise Your Medical Expense Deduction
With a little planning, you may be able to boost your itemized medical expense deduction when you file your 2024 tax return next year. Only eligible expenses exceeding 7.5% of… Read More
Have You Recently Reviewed Your Life Insurance Needs?
At one time, life insurance played a much larger part in an estate plan than it does now. Why? Families would often use life insurance payouts to pay estate taxes.… Read More
Organizing Your Household and Family’s Activities
Practical strategies for better organization and less stress When should I go grocery shopping or put in the order for pickup? What time is Johnny’s basketball game? Who is taking… Read More
Retirement Saving Options for Your Small Business
If you’re looking for a retirement plan for yourself and your employees but worried about the financial commitment and administrative burdens involved, there are some options to consider. One possibility… Read More
Good, Bad and Surprising News from the War in Ukraine, Part 1
This past month the war in Ukraine passed five important but terrible milestones: two years since the war began; 400,000 Russian soldiers killed or very seriously wounded; about 180,000 Ukrainian… Read More
Deductions vs. Credits: What’s the Difference?
One of the most common misunderstandings about filing an income tax return is the difference between deductions and credits. Deductions reduce the amount of a taxpayer’s income before tax is… Read More