--- description: Chandler & Knowles CPAs is dedicated to serving our clients with an integrated approach to financial success for businesses, families and individuals. --- [![Chandler & Knowles, CPA](https://blog.chandlerknowlescpa.com/hubfs/Chandlerknowlescpa_January2018%20Theme/Images/chandler-knowles-logo-updated.png)](https://www.chandlerknowlescpa.com) - [Home](https://www.chandlerknowlescpa.com/) - [About](https://www.chandlerknowlescpa.com/about/) - [Case Studies](https://www.chandlerknowlescpa.com/case-studies/) - [Testimonials](https://www.chandlerknowlescpa.com/client-testimonials/) - [Services](https://www.chandlerknowlescpa.com/services/) - [Individual Tax Preparation](https://www.chandlerknowlescpa.com/services/tax-preparation/) - [Advanced Tax Planning](https://www.chandlerknowlescpa.com/services/advanced-tax-planning/) - [Financial Planning](https://www.chandlerknowlescpa.com/services/financial-planning/) - [Risk Assessment](https://www.chandlerknowlescpa.com/services/insurance-risk-assessment/) - 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[Contact](https://www.chandlerknowlescpa.com/contact-us/) # Financial Planning Insights ## [How Do Tax Brackets Work?](https://blog.chandlerknowlescpa.com/how-do-tax-brackets-work-chandler-knowles) By [The Chandler & Knowles Team](https://blog.chandlerknowlescpa.com/author/the-chandler-knowles-team) | December 11, 2025 | [0](https://blog.chandlerknowlescpa.com/how-do-tax-brackets-work-chandler-knowles#comments-listing) ## [How Do Tax Brackets Work?](https://blog.chandlerknowlescpa.com/how-do-tax-brackets-work-chandler-knowles) ## [What Is A Trust?](https://blog.chandlerknowlescpa.com/what-is-a-trust) By [The Chandler & Knowles Team](https://blog.chandlerknowlescpa.com/author/the-chandler-knowles-team) | November 17, 2021 | [0](https://blog.chandlerknowlescpa.com/what-is-a-trust#comments-listing) [![](https://blog.chandlerknowlescpa.com/hubfs/2-Nov-15-2021-03-02-55-63-PM.png)](https://blog.chandlerknowlescpa.com/what-is-a-trust) A trust is a legal contract that plans for the distribution of an individual's assets upon their death. The document states that a trustee will hold all property until a given point in time. Unlike a will, a trust won't be subject to probate. This ensures that the [estate](https://blog.chandlerknowlescpa.com/benefits-of-estate-planning)'s closing is quicker, there are no court fees, and results in reduced estate.. [Read More](https://blog.chandlerknowlescpa.com/what-is-a-trust) ## [Pros and Cons of a 401(k)](https://blog.chandlerknowlescpa.com/pros-and-cons-of-a-401k) By [Chandler and Knowles](https://blog.chandlerknowlescpa.com/author/chandler-and-knowles) | October 11, 2021 | [0](https://blog.chandlerknowlescpa.com/pros-and-cons-of-a-401k#comments-listing) [![401k jar with money inside on table ](https://blog.chandlerknowlescpa.com/hubfs/2-Aug-18-2021-07-24-53-81-PM.png)](https://blog.chandlerknowlescpa.com/pros-and-cons-of-a-401k) 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.   [Read More](https://blog.chandlerknowlescpa.com/pros-and-cons-of-a-401k) ## [Tax Extension FAQs](https://blog.chandlerknowlescpa.com/tax-extension-faqs) By [The Chandler & Knowles Team](https://blog.chandlerknowlescpa.com/author/the-chandler-knowles-team) | September 06, 2021 | [0](https://blog.chandlerknowlescpa.com/tax-extension-faqs#comments-listing) [![tax extension faq](https://blog.chandlerknowlescpa.com/hubfs/2-4.png)](https://blog.chandlerknowlescpa.com/tax-extension-faqs) The [Internal Revenue Services](https://www.irs.gov/) 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.   [Read More](https://blog.chandlerknowlescpa.com/tax-extension-faqs) ## [Tax Planning for Business Succession](https://blog.chandlerknowlescpa.com/tax-planning-for-business-succession) By [The Chandler & Knowles Team](https://blog.chandlerknowlescpa.com/author/the-chandler-knowles-team) | July 21, 2021 | [0](https://blog.chandlerknowlescpa.com/tax-planning-for-business-succession#comments-listing) [![](https://blog.chandlerknowlescpa.com/hubfs/Inline%20Blog%20Images%20-%202021-07-20T132124.096.png)](https://blog.chandlerknowlescpa.com/tax-planning-for-business-succession) 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.. [Read More](https://blog.chandlerknowlescpa.com/tax-planning-for-business-succession) ## [What's the Difference Between Tax Deductions and Tax Credits?](https://blog.chandlerknowlescpa.com/tax-deductions-vs-tax-credits) By [The Chandler & Knowles Team](https://blog.chandlerknowlescpa.com/author/the-chandler-knowles-team) | June 28, 2021 | [0](https://blog.chandlerknowlescpa.com/tax-deductions-vs-tax-credits#comments-listing) [![](https://blog.chandlerknowlescpa.com/hubfs/Inline%20Blog%20Images%20-%202021-06-03T115257.954.png)](https://blog.chandlerknowlescpa.com/tax-deductions-vs-tax-credits) [Tax deductions](https://blog.chandlerknowlescpa.com/startup-business-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. [Read More](https://blog.chandlerknowlescpa.com/tax-deductions-vs-tax-credits) ## [How to Perform a Mid-Year Financial Checkup](https://blog.chandlerknowlescpa.com/how-to-perform-a-mid-year-financial-checkup) By [The Chandler & Knowles Team](https://blog.chandlerknowlescpa.com/author/the-chandler-knowles-team) | June 11, 2021 | [0](https://blog.chandlerknowlescpa.com/how-to-perform-a-mid-year-financial-checkup#comments-listing) [![](https://blog.chandlerknowlescpa.com/hubfs/Inline%20Blog%20Images%20-%202021-06-03T103900.857.png)](https://blog.chandlerknowlescpa.com/how-to-perform-a-mid-year-financial-checkup) We all know goals are vital in both [business](https://www.chandlerknowlescpa.com/industries/small-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 you. [Read More](https://blog.chandlerknowlescpa.com/how-to-perform-a-mid-year-financial-checkup) ## [Required Minimum Distributions in 2021](https://blog.chandlerknowlescpa.com/required-minimum-distributions-in-2021) By [The Chandler & Knowles Team](https://blog.chandlerknowlescpa.com/author/the-chandler-knowles-team) | June 02, 2021 | [0](https://blog.chandlerknowlescpa.com/required-minimum-distributions-in-2021#comments-listing) [![required minimum distribution 2021](https://blog.chandlerknowlescpa.com/hubfs/Inline%20Blog%20Images%20-%202021-06-02T095855.905.png)](https://blog.chandlerknowlescpa.com/required-minimum-distributions-in-2021) 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 taxed... [Read More](https://blog.chandlerknowlescpa.com/required-minimum-distributions-in-2021) ## [Business Tax Planning in 2021](https://blog.chandlerknowlescpa.com/business-tax-planning-in-2021) By [Chandler and Knowles](https://blog.chandlerknowlescpa.com/author/chandler-and-knowles) | May 21, 2021 | [0](https://blog.chandlerknowlescpa.com/business-tax-planning-in-2021#comments-listing) [![](https://blog.chandlerknowlescpa.com/hubfs/Inline%20Blog%20Images%20-%202021-05-11T122213.383.png)](https://blog.chandlerknowlescpa.com/business-tax-planning-in-2021) [Business tax planning](https://www.chandlerknowlescpa.com/services/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. Tax.. [Read More](https://blog.chandlerknowlescpa.com/business-tax-planning-in-2021) ## [How To Calculate Taxable Income](https://blog.chandlerknowlescpa.com/how-to-calculate-taxable-income) By [Chandler and Knowles](https://blog.chandlerknowlescpa.com/author/chandler-and-knowles) | May 11, 2021 | [0](https://blog.chandlerknowlescpa.com/how-to-calculate-taxable-income#comments-listing) [![taxable income](https://blog.chandlerknowlescpa.com/hubfs/Inline%20Blog%20Images%20-%202021-05-11T112636.016.png)](https://blog.chandlerknowlescpa.com/how-to-calculate-taxable-income) 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](https://www.chandlerknowlescpa.com/industries/small-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.  [Read More](https://blog.chandlerknowlescpa.com/how-to-calculate-taxable-income) [Older Posts »](https://blog.chandlerknowlescpa.com/page/2) ### Recent Posts ### Subscribe to Our Blog #### 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. Learn more about achieving financial success by reading our blog! ### Recent Posts Chandler & Knowles CPAs 7370 Hawk Rd Flower Mound, TX 75022 (817) 369-3681 Hours of Operation: Monday - Friday 8:30 a.m. – 4:00 p.m. Saturday & Sunday: Closed Other times Available by Appointment ![](https://px.ads.linkedin.com/collect/?pid=3265964&fmt=gif) ![](https://px.ads.linkedin.com/collect/?pid=3265964&fmt=gif)