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Financial Planning Insights

Pros and Cons of a 401(k)

By Chandler and Knowles | | 0

There is a lot of value and benefit to investing in a 401(k) retirement plan. It is a common and powerful vehicle to help you fuel your nest egg when you get to retirement age. You may be fortunate enough to work for a company offering a 401(k) or something similar, and as such, you should know the ins and outs for your own benefit.  

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Tax Extension FAQs

By The Chandler & Knowles Team | | 0

The Internal Revenue Services gives you, the taxpayer, some options when it comes to filing your tax return. You can file your tax return on what the United States knows as “Tax Day” which is April 15th, or you can elect to do an extension by this day. The extension will give you the opportunity to have more time to file your taxes.  

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How Do Tax Brackets Work?

By The Chandler & Knowles Team | | 0

How Do Tax Brackets Work?

Tax Planning for Business Succession

By The Chandler & Knowles Team | | 0

Most businesses have some type of informal or written business plan outlining operations, budget, and goals. But a surprising number do not have a written plan for the inevitability of business succession by death, retirement, or disability. It's difficult enough these days to run a business. The last problems any business entity needs are..

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What's the Difference Between Tax Deductions and Tax Credits?

By The Chandler & Knowles Team | | 0

Tax deductions and tax credits are two items that can lower your taxes in a big way. They sound similar, and to the uninformed may be confused as synonyms. They are not.

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How to Perform a Mid-Year Financial Checkup

By The Chandler & Knowles Team | | 0

We all know goals are vital in both business and personal life. Most of us make financial plans with certain goals in mind. We usually use the annual period as a guide to how we're doing. But a mid-year financial checkup is a great tool to catch problems early. Also, it is a great time to make any spending or budget changes that could benefit..

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Required Minimum Distributions in 2021

By The Chandler & Knowles Team | | 0

What are required minimum distributions, and why do you need to make them? Required minimum distributions (RMD) are funds that must be removed each year from pre tax-funded retirement plans after you reach the required age, which is now 72. Without RMDs, the possibility exists for an inheritance scenario whereby these funds might never be..

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Business Tax Planning in 2021

By Chandler and Knowles | | 0

Business tax planning is something you need to constantly address. Whether you are a new business or one that’s been around for decades, tax planning needs to be a priority. The tax code continues to change from one presidency to the next, and other factors, such as COVID-19, lead to significant overhauls and provisions you need to consider...

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How To Calculate Taxable Income

By Chandler and Knowles | | 0

It is critical to have an accurate calculation of your taxable income when it comes time to file your taxes with the Internal Revenue Service. Whether you are a business or an individual, you will have taxable income show up on your return. Understanding what taxable income is, what makes up the number, is important. 

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Five Financial Planning Tips for Young Adults

By The Chandler & Knowles Team | | 0

While you might not feel like early adulthood is a time to worry about financial planning, there are plenty of building blocks that can actually be put into place early on. It can be hard to think about future planning when it comes to finances, but there are simple habits and tips that can help shape your spending and financial goals for years..

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About Chandler & Knowles CPAs:

Chandler & Knowles CPAs is dedicated to serving our clients with an integrated approach to financial success for businesses, families and individuals. Our knowledgable team is committed to providing you with the most detailed information to answer your biggest financial questions and to help make your life less taxing.

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