Retirement can creep up on you. One day you’re climbing the corporate ladder or building a client base for your business. Next thing you know, you’re in your 50s or 60s. Thoughts of spending your days playing golf, pursuing a favorite hobby, or traveling to far-flung regions start calling you away from the daily grind. But without careful planning, your...
Tags: retirement planning
Category: Taxes
The fourth quarter is often make-or-break time in sports. Likewise, tax-cutting steps you take in the last three months of the year can transform a financial plan into a bona fide winner. Late-year tax planning is often a matter of reviewing your inflows and outflows. For instance, income from capital gains can be subject to both capital gains tax and...
Tags: tax planning
Category: Taxes
Do you outsource all or part of your payroll responsibilities to a third-party provider? Be aware that if your provider mismanages or embezzles funds that should have been paid to the IRS, your business is responsible for the unpaid tax, interest, and penalties. Put another way, you may end up paying twice – once to the payroll provider and again...