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.
Downside of Online: Cyber Crime & Stolen Data
by Rick Viall (Guest Editor) How safe is private information when stored electronically? You may not…
Don’t like the “rich” getting lower capital gain rates? Don’t worry; it’s going up 67%!
Before the anti-capitalists rejoice too much . . . Just remember that, in our capitalistic system, all economic benefits for both rich…
Hidden provisions in the Extended Payroll Tax Cut
Payroll Tax Cut Extended for All of 2012 On February 22, 2012, the Temporary Payroll Tax Cut Continuation Act…
USA Debt per Capita
You can measure a nation’s relative economic strength by a ratio of debt per capita. This is not our proudest…
Let the rich guys pay this tax bill
Why wouldn’t we let them pay? The non-payers (but still voters) have almost reached 51%
Independent Contractor vs. Employee – IRS throws a bargaining chip into the mix
The IRS has launched a new program that may help employers to resolve past worker classification issues (Independent Contractor vs.…
Asset Protection Advice
This initial podcast was intended for doctors but it’s applicable to others as well. Asset protection expert Martin Shenkman…
Changing the Password on your SCA portal
Security professionals advise changing passwords from time to time. Here’s how you do it with the client portal that we…
A great time to invest?
Our tongue-in-cheek humor as we look at the reporting and sale of investments.
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.