As year-end approached in 2019, all was not deadlocked in Washington. You see, on December 20th the president signed off on an important new law called the Setting Every Community Up for Retirement Enhancement Act of 2019, also known as the SECURE Act. The new law, explained in my new article, makes significant changes in how you can… Save money for retirementUse your … [Read more...]
Retirement
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A Solo 401(k) Could Be Your Best Retirement-Plan Option
Do you operate as a sole proprietor? Do you want to know which tax-advantaged retirement plan makes the most sense for you? Then consider going with a “solo 401(k)” plan. What’s the most important advantage of going the solo 401(k) route? It potentially lets you make much larger annual deductible contributions to your account, and lets that money grow over time, tax … [Read more...]
Why a SIMPLE-IRA Could Be Your Best Retirement-Plan Alternative
Are you starting out in business? Is your business currently generating only modest income? Then consider opening a SIMPLE-IRA. The SIMPLE-IRA is an excellent retirement plan that can dramatically reduce your tax bill and help you provide for a secure retirement. Why is the SIMPLE-IRA a great choice for your business? Because it gives you the choice to … [Read more...]
Self-Employed Senior? Collect Your Rightful Tax Breaks
Are you self-employed? Then I’ve got extremely valuable information waiting for you! You see, if you’re a self-employed senior citizen over 50, you’re entitled to some outstanding tax breaks that younger self-employed folks can’t claim. To find out more about significant tax breaks you shouldn’t miss, read my new article titled Tax Tips: Self-Employed Senior? Collect … [Read more...]
2019 Last-Minute Section 199A Strategies That Reduce Taxes, Too
Is your taxable income above $160,700, or above $321,400 on a joint return? Well, first of all, congratulations! But before you break out the champagne, remember this important fact: If you don’t handle your Section 199A planning correctly, your 199A deduction amount could be Zero. Nada. Zilch. Why could this happen? Because your type of business, wages paid, and … [Read more...]