I started out in the Financial Services Industry as a young college intern at a big brokerage house back in the late 80’s. My job entailed answering phones and cold calling for brokers who sat at their desks with their feet up, smoking cigars. It was most definitely a male dominated industry. Learning about the stock market and investments can be overwhelming for anyone but can be especially intimidating when you are a young woman. ..
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The IRS has begun focusing heavily on taxpayer compliance with information reporting laws. Congress has sharply increased the penalties for compliance failures regarding the filing of Form 1099-MISC, Miscellaneous Income. The penalty for each Form 1099 missed is now $50 per return within 30 days of the due date, $110 per return before August 2nd, $270 per return after August 1. For the intentional failure to file a Form 1099, the m..
On December 20, 2019, the President and Congress passed into law the Further Consolidated Appropriations Act, 2020, including the SECURE Act of 2019. Short for Setting Every Community Up for Retirement Enhancement, the Act contains several provisions that are important to know when considering your tax and financial planning. Here is a short summary of ..
December is always a good time to evaluate your tax situation and see what you can do to lower your taxes. 2018 brings extensive changes as a result of the large tax overhaul passed by Congress last December.
Here’s a quick recap of some of the more significant changes and some thoughts on how to reduce your tax bill.
One of the biggest items in the tax reform is lower tax rates. In general, but not always, tax rates will be l..
December is always a good time to evaluate your tax situation and see what you can do to lower your taxes. This year is no different but with the potential tax reform it is more important than usual. With the recent passage of tax reform bills in the house and the senate, Congress is now working on what the final law will be. We think it is likely that a tax refo..
Why you should consider an HSA now
Health Savings Accounts ("HSAs") have been around since 2003; however, based on my observations, these types of accounts are not widely used. With the focus on health insurance the past few years, now is a good time to consider the use of an HSA. If you qualify to contribute to an HSA and have the cash flow, they are a really great tax saving and investment vehicle..
If there is one theme that I see in working with entrepreneur clients, it is their struggle to manage their business while properly structuring their business and financial plans. When I use the term "Wealth Plan," I am not just referring to how you invest your money. As a wealth manager, what I mean by "Wealth Plan" is the integration of the business structure, income taxes, retirement plans, personal investments, insurance and es..