How to save taxes? Let’s count the ways.
Are there exceptions to the 10% early withdraw Penalty?
Actually there are quite a few. Here’s a partial list.
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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…
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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.
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IRS grants penalty relief!
This is a rare gift from the imperial IRS. Check the article below for details.
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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:…
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IRS changes gears with new mileage rate July 1, 2022
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.
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Tax-Deductible Retirement Plans for 2022
For the small business owner: Options when you are self-employed with no employees (Chart 1 below) Options when you are the only employee of your corporation (Chart 2 below)
Read MoreHow to save taxes? Let’s count the ways.
Two words that can change your child’s inheritance
Knowing a little Latin can save you a lot of money. In this case, a little Latin in not a…
Doing business away from your home state? Here’s a handy tool for all 50 states,
Did you ever wish that when you do business in another state, you could quickly check the forms, filing requirements,…
IRS to Washington – Get your act together or no returns processed until March
You have to admire one thing about acting IRS Director Steve Miller. As the head of IRS, he warned Congress…
Small business dodges an IRS bullet
It might be more appropriate to say that we small business owners dodged a boomerang because this issue is coming…
Will your Key Data survive a disaster?
By Guest Editor Rick Viall rviall@viallins.com A good friend of mine who is a claims adjuster is seeing it over…
The fiscal cliff effect by age groups
Whether you are single, married, working your way through college, or settled in your career. This infographic from today’s Wall Street Journal…
Like what you see? Here’s how you can QR a friend.
If you’re seeing this, you already know how to reach our web site with its many free services. If you…
5 Years to write off a $100 thumb drive? We’re not kidding on this one.
Now is the time to “repair” the deduction for repairs! You’ll have a hard time believing this one, but here…
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.