They Gotcha Going Out – Estate Taxes

When you die, your estate may be subject to estate taxes. Want to know how much the federal government receives in estate taxes? Check out this video to learn more.

Federal Tax Explanations – Video 1 – Overview

Want to know how much tax revenue the federal government receives and where it comes from? I’ve made it a goal to help educate people on the big picture of federal taxes. That way, you can have a greater understanding of how much the government receives, where it comes from, what truly makes a difference, … Read more

The Power of Roth Conversions for Retirement

When we plan for retirement, one of the strategies that can be counter-intuitive, but extremely powerful is looking at Roth IRA conversions, especially in the early years of retirement. When I say it can be counter-intuitive, it’s hard to think about paying a lot of taxes now to save on taxes later. A lot of … Read more

LLC Does Not Matter for Tax

We get a lot of questions about what type of business entity I should use for my business because there are lots of different options. You have C corporation, S corporation, partnership, sole proprietorship, LLC which stands for limited liability company. So people are always asking, what’s the best one to use? How should I … Read more

Remove Tax Surprises

Let’s remove tax surprises. I’d say the most common frustration that we hear from people that come to us is that they have an advisor or an accountant or both, but they aren’t getting the full picture that they need. Typically, it’s either I have an advisor, but they don’t know anything about taxes or … Read more

Doctor’s Office Fails to Check Blood Pressure

There are some things that should be standard procedure. Today, let’s start with a story. I want you to imagine Paul and Mary. They’re a married couple and have a few kids. One day Paul says to Mary, “I’ve got this pain in my side. I can’t figure out what it is. It just won’t … Read more

1099 Filing Requirements for Business Owners

Let’s talk today about Form 1099s and what business owners must do to stay in compliance. Every year, business owners have to send out Form 1099s to any vendor that they pay $600 or more for services. It’s an annual requirement, the forms are due by January 31st. There are a couple of exceptions to … Read more

No Tax Now and Tax Free Later with HSAs

Let’s talk about health savings accounts. We’ll talk about what they are, and how they can provide some big tax benefits for you. So health savings accounts are often kinda confusing and can get confused with FSA accounts, which is a completely different animal. FSA stands for flexible spending account. And those accounts, it’s a … Read more

Stop Crying about Capital Gains – Donate Instead

Let’s talk about how you can avoid paying capital gains tax by donating to charity. What happens oftentimes is that if somebody has a stock that’s gone up in value over time they might say, okay let’s sell that stock and give some money to charity. It’s always good to give money to charity. Give … Read more

Are You Shoveling Buckets of Money to the IRS?

Let’s talk about how you can save a ton in taxes, if you are running a successful service business. Now, by service business, we’re talking about anything, any business that does not produce a thing. So, if your thinking about a consultant, lawyer, dentist, doctor, personal trainer or accountant. Those are all considered qualified service … Read more

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