Posts Tagged ‘Dana McGuffin CPA’
Is a Tax Time Bomb Lurking in Your Paycheck?
Does your paycheck look a little higher than normal? If so, it could be a tax time bomb. The Problem A payroll tax deferral beginning September 1 was recently signed via a presidential executive order. The potential deferral of your portion of Social Security as an employee could raise your take…
Read MoreA Gift of Stock: Information is key when using this tax planning strategy
You own some stock that has increased in value. To avoid a possible taxable gain by selling the stock, you wish to give it directly to a child or grandchild. This simple idea has some interesting tax consequences to consider. Value of the Gift When you gift stock there are not one, but…
Read MoreTax-Free Roth IRA Withdrawal Options: What every Roth IRA account holder should know
Withdrawing funds from your retirement accounts must be done carefully to avoid a potential 10% early withdrawal penalty. Unfortunately, each retirement account type has different rules. Here are some tips for Roth IRAs. Roth IRA basics Roth IRA accounts differ from other IRAs in that your contributions are made in after-tax dollars. If you…
Read MoreDigital Marketing Mistakes to Avoid
The keys to successful digital marketing practices are often learned through failure. But this doesn’t have to be you! The wise business owner learns from the travails experienced by others. Here are some digital marketing mistakes to know so you can keep them from unraveling your strategy: Overlooking directory listings. Now more than ever, people…
Read MoreDon’t Let Disaster Befall Your Favorite Non Profit
The filing deadline for most non-profit organizations is May 15. Missing this deadline results in penalties that can devastate the organization’s budget, or worse, strip them of their non-profit status and make your donations non-tax deductible! Here’s what you can do to help them: Check the charitable status online. The IRS has a master list…
Read More4 Key Metrics to Fortify Your Business
Even the best, well-prepared business plans can unravel quickly without a process in place to evaluate performance. Creating a scorecard with quality metrics can give you the daily insight you need to successfully run a business without drowning in the details. Create a scorecard that works An effective scorecard gives you a holistic view of the…
Read MoreHow to Raise a Financially Savvy Child
If you have children (or grandchildren) you have an opportunity to give them a jump-start on their journey to becoming financially responsible adults. While teaching your child about money and finances is easier when you start early, it’s never too late to impart your wisdom. Here are some age-relevant suggestions to help develop a financially…
Read MoreHey Alexa. Are you Making Me Dumb? 3 Concerns To Consider While Living With A Smart Speaker
Smart speakers like the Amazon Echo and Google Home are popping up everywhere. According to a Nielsen study from last September, nearly one of every four U.S. households has a smart speaker – 40 percent of those homes have more than one. For some, the speaker is an easy way to play music, for others…
Read More7 Tax-Free Ideas to Bolster Your Business Benefits Package
The benefits package offered by your business is extremely important to your employees. How important? A survey performed by the Society of Human Resource Management (SHRM) found that benefits are directly tied to overall job satisfaction for 92 percent of employees. Even more importantly, 29 percent of employees cited the overall benefits package at their…
Read MoreHow to Correct Common Financial Mistakes
You’re working at the office, getting stuff done around the house, or hanging out with family when – wham! – a phone call, email or text alerts you that something is wrong with your finances. When a negative financial event hits, don’t let it take you down. Here are some common mistakes and steps to…
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