Moving Expense Deduction

Ever wonder what you could or couldn’t deduct on your taxes for moving, and under what circumstances you could deduct moving expenses.  The link below spells out most of what you need to know about the moving expense deduction.  Most important: you must be moving for work to deduct moving expenses. http://www.irs.gov/uac/Moving-Expense-Deduction  

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Teens in your family with summer jobs? Set up IRAs for them!

Teenagers’ retirement may seem too far off to warrant saving now, but IRAs can be perfect for teens precisely because they’ll likely have many years to let their accounts grow tax-deferred or tax-free. The 2015 contribution limit is the lesser of $5,500 or 100% of earned income. A teen’s traditional IRA contributions typically are deductible, […]

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Planning for Success

As business owners, we often do a good job of planning for possible negative outcomes or circumstances.  We set aside enough cash flow to weather a downturn in our business, we plan for the tax impacts of profits on the business, we plan for turnover in our staff, etc.  This type of planning is important […]

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