How to save taxes? Let’s count the ways.
Seniors will love the new tax bill!
If you are 65 years of age or older, several provisions in the One Big Beautiful Bill Act (“Big Beautiful Bill”) would be especially relevant: In summary, the most significant changes for someone age 65 or older are the new temporary $6,000 senior deduction, increased standard deduction amounts, and higher filing thresholds
Read More
Out with the old – in with the new 2023 mileage rates
It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.
Read More
Are there exceptions to the 10% early withdraw Penalty?
Actually there are quite a few. Here’s a partial list.
Read More
Why you should start a 529 Plan for your 2 year-old child
Start the 15-year clock! Open a 529 plan for each child today. It doesn’t take thousands of dollars or in some cases even hundreds of dollars-maybe as little as $100 to open this savings account. By opening it now the parent can start the 15-year savings clock so that all earnings in the account are…
Read MoreMore Security from the Secure Act 2.0
At What Age Does the Government Require the RMD? The chart below gives you the age when you have to start taking RMDs: Your Birth Year Your Mandatory RMD Age 1950 or earlier 72 (70.5 for those who turned 70.5 before 2020) 1951-1959 73 1960 or later 75 When Do I Have to Take My…
Read More
Inflation adjustments to tax items
With inflation at a 40-year high, inflation-adjusted tax amounts have kicked into place. Here are the increased amounts for 2022 and 2023.
Read More
IRS grants penalty relief!
This is a rare gift from the imperial IRS. Check the article below for details.
Read More
MMDA- Making meals deductible again
Have you missed partying and having business meals with your prospects, customers, and employees? Well, get ready to start again. Soon, COVID-19 will be behind us, we can get back to normal. To help you get ready, check the table below for what you can do in 2021 and 2022 as the law stands now:…
Read MoreHow to save taxes? Let’s count the ways.
Working outside the USA? Don’t forget about these IRS requirements!
You may still have to file a tax return if you live outside the United States and maintain your US citizenship.
While you’re struggling with your budget . . .
We thought you’d like to know some of the things Washington is doing with your money.
What if you spent like the Federal government?
What if you spent like the Federal government?
S-Corp Owners – IRS rules in your favor!
Here’s the good news – as of December 19, 2014, IRS has updated their website with specific instructions on this topic.
Our Christmas gift to clients – more deductions for 2014!
Well . . . it’s technically not a “gift” but it will help you lower your taxable income for 2014.
Year-End Planning Information for 2014 & 1015
Here’s a complete list of qualified plan limitations, You may want to bookmark this page in your browser for use now and next year.
A Year-End tip that always helps in tax planning
All of our existing clients have access to our SCA Secure client portals at no additional charge.
Christmas gifts and the Federal Gift Tax
During the season of giving, you can (tax-wise) accomplish some effective giving as well.
Thanksgiving Items
Our clients are some of the most grateful people we know. It seems appropriate on this holiday to document the…
Helpful Tools for Clients
For our first-time guests and new clients:
The first thing that you should look for in your Financial Advocate is the right attitude.
At SCA we don't believe in the "one size fits all" method of thinking. We post recent articles that may serve to help you save or make more money.