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.
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 More
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.
Read More
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.
How to send us your documents – It’s safe and easy
[Editor’s Note]- We’ve changed the look of the client portals after the date of this post. The portals are now…
How to avoid payroll taxes
Wouldn’t it be helpful with your company’s cash flow if you could just not remit the social security and medicare…
IRS begins a “Hiring Frenzy”
See the second video if you still believe it’s possible to administer the health care debacle. Here’s just how easy it…
The Anti-Investment tax of 2013! We explain how and when it applies.
CPA gives 3 minute summary of the new Medicare tax
Do corporations have to issue 1099s?
As with most tax questions it depends. Although (as a general rule) corporations are exempt from this requirement, there are…
A tutorial for business owners on the new Medicare tax
An individual is liable for Additional Medicare Tax if the individual’s wages, other compensation, or self-employment income
(together with that of his or her spouse if filing a joint return) exceed the threshold amount for the individual’s filing status:
Just what a sagging stock market needs to recover
Let’s have a 289% increase on dividend earnings. That’ll really make people want to [sarcasm intended] buy into American business. Actually,…
How to understand the stimulus tax bill
Knowing tax law can be difficult to read, we offer the following visual aid.
Who really pays their “Fair Share” -Part II
Looks like the argument for the rich paying their “fair share” is getting weaker and weaker. Hover your mouse over…
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.