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.
Who really pays the Income Tax?
I get asked this question almost every week. Here’s some helpful stats from our friends at the National Taxpayer’s Union.…
Think your CD rates are bad? How about a French T-Bill with negative interest?
We always like to look at the positive side of things. As bad as CD rates in the US are…
Some folks will see a 74% increase in the tax rates in 2013-(from the WSJ)
We’re not kidding about the higher part as the new capital gain rates (remember the “capital” in capitalism). Just put…
Search our site like a pro!
Answers – It’s what clients pay for and it’s what make your customers happy as well. We’ve designated this page…
Hire a Vet? Time is running out for tax credit.
Employers Need to Act Soon to Get Expanded Credit for Hiring Vets Special Edition Tax Tip 2012-11 Employers…
Wow- that stimulus stuff is really working!
Look no further than this chart for proof of how little effect the stimulus money has on the price of…
Free and secure internet storage for our clients!
One overlooked feature of the internet portals that we provide to clients is their use as a secured storage…
If the census people were honest . . .
This is what they would say . . .
Why budgets have no value
You heard us right-they have no value. Jack Welch the brilliant CEO of General Electric agrees with me (don’t confuse him with the current clown at the head of GE). Welch did away with all the wasted weeks of the budget process and focused on creating projections instead. He then held the departments accounting to the projection of income and expense that they participated in creating.
Helpful Tools for Clients
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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.