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 MoreWhy 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 MoreInflation 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 MoreIRS grants penalty relief!
This is a rare gift from the imperial IRS. Check the article below for details.
Read MoreMMDA- 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 MoreIRS 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 MoreTax-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.
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…
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…
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.…
New tax limits for retirement plans
It’s still early in 2012, but for our clients wanting to start their tax planning here are the updated numbers…
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
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.