June 2023
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In financial planning, forecasts and projections aren’t the same
Businesses are rightly encouraged to regularly generate professionally prepared financial statements. Doing so is important for both understanding your own financial position and providing accurate,…
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When can seniors deduct Medicare premiums on their tax returns?
If you’re age 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you…
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Advantages and disadvantages of claiming big first-year real estate depreciation deductions
Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. But…
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Reduce the impact of the 3.8% net investment income tax
High-income taxpayers face a regular income tax rate of 35% or 37%. And they may also have to pay a 3.8% net investment income tax…
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Traveling for business this summer? Here’s what you can deduct
If you and your employees are traveling for business this summer, there are a number of considerations to keep in mind. Under tax law, in…
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Benefits of a living trust for your estate
You may think you don’t need to make any estate planning moves because of the generous federal estate tax exemption of $12.92 million for 2023…
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