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401(k) vs SEP

You are self employed and making $125,000 a year of net income. You have heard that you need to set up a retirement plan and have heard about a 401(k) and SEP. Thus, which one would benefit you the most? The answer is that you would be better off with a “Solo 401(k).” Why? A...Read More

Be Your Parents’ Landlord

Create a cool tax break: Buy parents’ home and rent it back to them Say your aging parents live in a home that has appreciated in value, but they’re no longer reaping any of the home ownership tax break during their retirement years. Sound familiar? Sandy’s hot tip: With one stroke of the pen, both...Read More

4 Easy Steps to Increase Sales in 2019

GUEST POST If you’re a small business owner looking to produce rapid growth in your business in 2019, there are several different approaches you can take. Modern technology has made marketing easier and less expensive than ever before and opened up many new ways to connect with potential customers. Here are four of the key...Read More

Retirement Fund Conversions

Investing in an IRA or 401(k) or other tax-deferred plans means you get years of tax deferred growth. However, you will have to start taking money out and give IRS its cut when you turn 70 1/2. If you fail to make these minimum distributions, there is a HUGE 50% penalty of the amount that...Read More

Sandy’s “Educational” Thoughts

I am sure many of you have read how some wealthy parents have bribed various admission people into getting their children into some elite schools. One parent, Felicity Hoffman, even went so far as to bribe an SAT proctor into changing answers for their kids. I, for one, am not too shocked or even dismayed...Read More

Top 5 Small Business Tax Changes: Part 3

520% pass through deduction: For the first time, the owners of many pass through entities such as S corps, partnerships and even sole proprietorships and LLCs can deduct 20% of net business income on their personal return. In effect, they are only taxed on 80% of their net business income. Notably, however, this deduction is...Read More