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.
Turn off the TV and watch some moving images that will save you time and dollars
It’s not as entertaining as Hawaii Five-0, but our suggestions just might add a 0 (zero) to your cash flow…
Will Smith becomes a capitalist
The text of this conversation is printed below. Will Smith: I have no issue with paying taxes and whatever needs…
If we did Financial Statements like the White House and Congress . . .
We would simply overstate your net income by 384%! Not surprisingly, the White House and Congress speak of…
How to use Facebook for Business
Most of us spend some amount of time on Facebook. Did you ever wish that you could better use your…
How long does a business need to keep its records?
Does your office tend to look like our Fayette county landfill with tons of old paperwork? Although there is no…
American Exceptionalism
Some politicians in Washington may say American Exceptionalism doesn’t exist, but don’t you believe it! Here’s some proof. The photo on…
The real effect of a federal “Stimulus” tax law
We took our SCA hidden camera inside the corporate boardrooms of America and, more often than not, found this reaction…
Payroll tax cuts – Are we really robbing the Social Security Piggy Bank?
Our left-leaning friends are often quite surprised at our position on continuing the payroll tax cuts. The reasoning goes…
How “Qualified” are your relatives?
One of the tests to claim a dependent is that the person must be a qualifying child or relative. …
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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.