American Rescue Plan Act – What Do I Need To Know?
There has now been around $6 trillion in economic relief during the pandemic thus far. Yes, $6 trillion. That number includes the recently passed American Rescue Plan Act (ARP) which account for $1.9 trillion. Our goal here is to breakdown the important pieces of the Act that you need to know about. American Rescue Plan […]
Do I Need To File A Tax Return (Personal or Business)?
This is a question we get a done, especially from new business owners, do I even need to file a tax return? In this article we are going to break that down exactly so you know when you need to file a return, whether that be for you personally or your business. Do I Need […]
Unlock Tax Savings: The Augusta Rule – Your Guide to 14-Day Tax-Free Home Rentals
Do you use your home for business events such as shareholder meetings, team retreats, client meetings, employee meetings, etc? If so, this is one tax strategy you definitely want to be check out! The 14 Day Home Rental / Augusta Rule is a piece of the tax code that allows you to potentially shift taxable […]
What Are Some Advanced Retirement Plan Options For High-Income Earners?
Are you a high income earner that is looking to take retirement plan a big step further? If so, this may be something you want to look into. I would highly recommend as a high income earner that you schedule a consult with us before making any decisions so we can ensure you have the […]
Utilizing Xero For Receipt Tracking
Sick and tired of keeping paper receipts on file for years upon years? Xero has functionality to keep track of receipts directly in your books. If you have a transaction that has already been booked you can go into the Xero app and upload the receipt for it. If you have a receipt that has […]
What Is a Safe Harbor 401k or QACA Safe Harbor 401k?
When we are working with businesses that are leaning towards the 401k route we traditionally see them organize into a Safe Harbor 401k or QACA Safe Harbor 401k. What Is A Safe Harbor 401k? A Safe Harbor 401(k) plan is a type of 401(k) with an employer match that allows you to avoid most annual compliance tests. […]
What Is a Traditional 401k For Businesses?
When we are working with businesses that have employees and want to setup a more robust retirement option with more flexibility we look at a couple options: Traditional 401k – Discussed in this article Safe Harbor 401k or QACA Safe Harbor 401k – Discussed in next article What Is a Traditional 401k and What Do […]
What Is a SIMPLE IRA or Payroll Deducted IRA?
When we are working with businesses that have employees and want to offer a retirement option but may not want to get too complicated with a 401k, we usually land on two main options: SIMPLE IRA Payroll Deducted IRA What Is a SIMPLE IRA and What Do I Need To Know About SIMPLE IRAs? A SIMPLE […]
What Is A SEP IRA and Solo or Individual 401k?
When we are working with businesses with no employees, outside of the owner(s), we usually land on two main options: SEP IRA Solo 401k (AKA Individual 401k) Again, if you are looking to put away $6,000 or less per year towards retirement one of these plans would likely not be necessary and instead you could […]
What Retirement Options Are Available For Business Owners?
When it comes to retirement planning for small business owners there are a lot of options available which can be confusing. There is no one strategy that is perfect for everyone. Over the course of the next few weeks, we are going to go through the various retirement options that are available to business owners. […]