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7 Tax Planning Strategies for Your Small Business
Smart business tax planning can make a big difference for your company. Each of the more than 30 million small businesses in the U.S. probably has a different ideal tax planning strategy. However, there are some generally applicable approaches. Many or even most small businesses could use one or more of these to save on income taxes. If you’re a business owner looking to minimize the impact of taxes, following certain strategies can really pay off. [more]
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Trustee Selection: Why It Matters and How to Get It Right
Trustee Selection: Why It Matters and How to Get It Right - the AcademyEvery Estate Planning attorney counsels their clients that choosing a Trustee impacts an Estate Plan in a myriad of ways. Experienced Trusts and Estates practitioners advise that selecting the right Trustee has the potential to make or break a plan. Attorneys learn the theoretical duties of trustees during law school or for the bar exam: loyalty, prudence, and impartiality. Most clients understand those duties at a high level as well. Top-tier Estate Planning attorneys, however, advise their clients regarding the practical impact of those duties: how they affect relationships with beneficiaries, interactions with family members, and the potential for conflict. [more]
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How to Use Your Health Savings Account in Retirement
A Health Savings Account (HSA) is often viewed as a tool for current medical expenses, but its "triple-tax advantage" makes it one of the most powerful and flexible retirement savings vehicles available. By strategically saving and investing your HSA funds during your working years, you can unlock the full potential of these accounts to cover health care costs and even supplement your income in retirement. After age 65, the account can even serve as a supplemental income source. [more]
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A Practical Guide To The New Business Tax Bill And What It Means For Your 2025 Plan with Bryce Thompson
Business taxes often feel like a maze—rules shift, thresholds change, and what worked last year might backfire this year. But I’ve found that when we treat tax law as a planning tool instead of a year-end scramble, it becomes a powerful lever for growth. The recent legislation proves that point. Bonus depreciation is now permanently set at 100% for most non-residential assets placed in service after January 19, 2025. That change alone transforms long depreciation schedules into immediate deductions, improving cash flow and freeing up capital. [more]
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