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Financial Planning Insights

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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Financial Planning Tips for Physicians

By Chandler and Knowles | | 0

As a physician, you’ve dedicated your life to taking care of other people. It's time to start taking care of yourself and building a strong financial plan for your future. For physicians, balancing paying back school debts, saving for retirement, and managing a practice can take away from what's important—providing great service to your..

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Tips to Finding the Right Financial Planner For You

By The Chandler & Knowles Team | | 0

Financial planning is so important so that you can live comfortably now and in the future when you want to retire. You also want to invest wisely so that your money will continue to grow. A financial advisor is great when it comes to organizing your finances, putting you on a budget, and helping you to plan for the future. However, it can be..

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Financial Planning in your 40s

By The Chandler & Knowles Team | | 0

Although it may seem a bit early to think about retirement, people in their forties should already have a plan in place. But don't let that discourage you if you don't—there is still time to build wealth in your 40s. Social security benefits are not enough to support you, so formulating a plan early will save you from working longer than you..

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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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