Business owners should focus on growing their profits and meeting their sales goals. But to build “value” in your business and make it attractive to buyers, have you ever considered making it a primary goal to set up your business so that it can thrive and grow without you? A business that is not dependent
Tax Tips When Considering a Move to Canada
Almost 900,000 Americans currently reside in Canada. Americans moving out of the U.S. to countries like Canada are still required to file U.S. tax returns in addition to various other disclosures, forms and treaty elections each year. Whether it’s Canadians returning to Canada after residing in the U.S. for a number of years, or simply
Relocations And Remote Work Create Recurring Tax Issues
Taxpayers who moved to another state during the pandemic to work remotely have been dealing with more complicated tax issues, and so have their employers! The pandemic prompted many people to sell or rent their homes to relocate to larger houses and across state lines, creating complex multistate tax issues on both the individual and
Costly Social Security Mistakes Most Folks Make
The age when you first start getting Social Security payments is one of the most important decisions you’ll make that affects the size of your checks. Social Security offers a guaranteed income throughout retirement, yet many Americans are uncertain about how to incorporate it into a retirement income plan. Most folks don’t know at what
Don’t Get Caught Making These Crypto Mistakes
As Elon Musk is rumored to have said: “Crypto is everything you don’t understand about finance combined with everything you don’t understand about computers.” In that vein, we decided to compile some tips to help keep your digital wallet safe. New crypto investors should avoid beginner blunders that can cost them. Savvy investors should not
What Is Your Portfolio’s Potential for Resilience?
It’s no secret the second quarter will be impacted by rapidly changing interest rates, Fed tightening due to a serious miscalculation about inflation, and continued fallout from geopolitical turmoil thanks to Russia. Both stock and bond markets are highly volatile and it looks as though large daily price swings will continue. A restrictive monetary policy
Don’t Forget About FBAR for Foreign Financial Accounts
Over the years, there’s been a significant increase in interest in taxpayer transactions by the IRS, including information about foreign financial accounts. Taxpayers with foreign assets come in all shapes and sizes. Maybe it’s an executive who works in the U.S. on a non-immigrant visa who still has assets in their native country. Or a
Affluent Clients and Avid Investors Affected By Tax Season Delays
Thanks to the IRS, tax return season has gone from bad to worse, and it has begun to impact our high-net-worth clients who are avid, affluent investors in unpleasant ways. A large backlog of unprocessed returns is creating anxiety for many clients who take their tax obligations seriously. This “dumpster fire” of a filing season
SBA Again Extends Deferment Period For EIDL Payments
The US Small Business Administration has extended the deferment period for COVID-19 Economic Injury Disaster Loan (EIDL) payments for the third time in 12 months. In a news release, the SBA said that small businesses and not-for-profits that received EIDL funds do not have to begin payments on the loan until 30 months after the
Protecting Your Portfolio From Market Reaction To Russian Aggression
Markets have been shaken lately, and investors both big and small are searching for direction and strategies to protect their portfolios. Early 2022 already recorded the highest inflation rate in 40 years, and the Federal Reserve has just lifted its key interest rate by a quarter of a percentage point on Wednesday, their first decisive
