Minimize a Surviving Spouse’s Estate Tax: The Benefits of the Portability Election
The Form 706, also known as the United States Estate (and Generation-Skipping Transfer) Tax Return, is a critical document in estate planning and tax management. One of its signifi
Surprising Tax Impact of Converting Your Traditional IRA to a Roth IRA
Taxpayers are limited in the annual amount they can contribute to a Roth IRA. The maximum contribution for 2024 is $7,000 ($8,000 if age 50 or older), but the allowable 2024 contri
California Employers Must Implement Workplace Violence Prevention Plans by July 2024
Effective July 1, 2024, California Senate Bill 553 (SB 553) mandates that nearly all California employers implement a Workplace Violence Prevention Plan (WVPP). This requirement is
Beneficial Ownership Information (BOI)
As you may recall, beginning with 2024, many companies are required to file Beneficial Ownership Information (BOI) reports with the Financial Crimes Enforcement Network (FinCEN).&n
Protecting Our Seniors: Understanding and Preventing Scams
As our population ages, seniors increasingly become targets for a variety of scams. These fraudulent schemes can have devastating financial and emotional impacts on older adults, w
The Ultimate Guide to Starting Your Own Business: A Step-by-Step Blueprint for Young Entrepreneurs
Starting your own business is an exciting journey filled with opportunities and challenges. As a young entrepreneur, you have the energy, creativity, and drive to turn your ideas i
Should Tips Be Tax-Free? How Recent Proposals Could Change the Way You Tip
In recent years, tipping culture has seen significant changes, particularly with the rise of digital payment kiosks and self-checkout lanes. A CBS News article recently questioned,
Analyzing 2024 Presidential Tax Proposals: A Cross-Party Overview
As we move closer to 2024, various tax proposals are emerging that could significantly impact both individuals and businesses. These plans cover a wide range of topics, from income
Essential Tax and Financial Planning Strategies for Boomers and Gen Xers Approaching Retirement
As Boomers and Gen Xers approach retirement, effective financial planning becomes crucial to ensure a comfortable and secure future. This article outlines essential tax and financi