How to save taxes? Let’s count the ways.

Summary of 2024 Business Retirement Plans

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Are there exceptions to the 10% early withdraw Penalty?

Actually there are quite a few. Here’s a partial list.

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How to avoid a “BIG” tax problem

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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…

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More 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)  

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How to save taxes? Let’s count the ways.

Accounting Software

Peachtree users – Here’s how to add the owner’s health insurance to the W-2

Clients with S-Corps – Don’t forget that you cannot deduct your health insurance costs without loading them onto your W-2.…

Intuit solves the wrong problem with a new Quickbooks option

For clients using Quickbooks, here’s a useful tip from one of our most trusted sources for software training. The instructors…

scrrenshot of quickbooks

IRS targets Quickbooks and Peachtree users and makes outrageous demands!

We’ve known for some time of the IRS’ stated intent to educate at least one member of every audit team…

Does Volunteering Your Time Mean Volunteering Your Insurance?

by Guest EditorRick Viall  rviall@viallins.com Millions of Americans donate time—their most valuable asset—to serve as a volunteer board member on…

Downside of Online: Cyber Crime & Stolen Data

by Guest EditorRick Viall  rviall@viallins.com How safe is private information when stored electronically? You may not want to know the…

Sounds too Good to be True: Downloading Illegal Music

by Guest EditorRick Viall  rviall@viallins.com Remember the days of curling up to the radio on a Saturday night, torturing yourself…

2012 deduction amounts

How to keep score in 2012

Congress has once again adjusted the dollar amount of allowabe mileage,social security limits,estate rates, and a host of other deductions.…

Calculator for Congress

Congressional Calculator only $9.99!

One of our clients is offering these retrofitted calculators. If you’ve followed the current budget -you’ll know why. Since the…

Helpful Tools for Clients

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