Financial Planning Insights

Times have changed, and taxes have too. In a world where wearing a mask is common and, frequently, mandated, we can all see the differences COVID-19 has made. From closing businesses to skyrocketing unemployment numbers to new CDC guidelines for just about everything—Americans are learning to adjust and regroup. The new CARES Act is providing..

For most people in the United States, the first half of 2020 has been like nothing they have ever seen before. Health issues as a result of the Coronavirus have resulted in businesses closing or reducing the number of employees that they need. This has led to high unemployment and the stock market going to its lowest point since 2008. As the..

When is the best time to save for retirement? We all tend to worry less about events that are further away. This is natural and usually makes sense. The more immediate and pressing concern is, the sooner we know we must take action. Current financial obligations and needs naturally take precedence.

As we get older, and retirement looms closer, we..

If there is one thing we can all agree on, it is that the recent COVID-19 crisis has affected our economy. There are thousands of unemployed people, many of them unable to get unemployment compensation. Although companies are starting to open back up, the financial impact continues. It is essential that businesses and individuals have a viable..

After spending years in school to become a dentist and settling up a practice, you may finally have time to start thinking about your future and eventually your retirement plan. Unfortunately, in all the classes you were required to take in college, retirement planning was probably not included. If you are like most people, you're probably..

Many are wondering, "Can I claim business mileage on my tax return?" In 2017 The Tax Cuts and Jobs Act had a significant effect on deductions. Business mileage deductions were among the many deductions no longer allowed except in certain circumstances. Who is able to claim mileage has changed. Employees can no longer claim mileage. But, if you are..

Small businesses are prone to miss employee benefit write-offs. These deductions can make the difference in owing and not owing taxes or paying more in taxes than you are required. That is why it is vital to have a good idea of what these write-offs may be. Tax preparation is much easier if you understand the process.

Multi-State employees are a fact of life for many businesses. Employees may be moving from one location to another as part of their employment or they may be working remotely. Many businesses have offices in one or more locations outside of the home location and as businesses grow they may include multiple states. This is positive when it comes to..

Surprisingly, there are tax deductions on the tax return filed by the self-employed that small enterprises sometimes miss. Taking advantage of all possible tax deductions and tax credits is a major part of tax planning. Timing of revenue streams and expenses can also be very important. It's best to consult your CPA for personalized guidance, but..

If you've applied for and received the Paycheck Protection Program (PPP) Loan, you might be wondering what's next? Here's what you need to know to take the next steps: