Self-Directed IRAs Provide Both Flexibility and Risk
Traditional and Roth IRAs can be relatively “safe” retirement-saving vehicles, though, depending on what they’re invested in, they limit your investment choices. For more flexibility in investment choices but also more risk, another option is a self-directed IRA. Gaining More Control A self-directed IRA is simply an IRA that provides greater control over investment decisions. […]
Education Benefits Help Attract and Retain Employees While Saving Taxes
Your business can attract and retain employees by providing education benefits that enable team members to improve their skills and gain additional knowledge, all on a tax-advantaged basis. Here’s a closer look at some education benefits options. Educational Assistance Program One popular fringe benefit that an employer can offer is an educational assistance program that […]
Businesses Can Save Taxes by Acquiring and Placing Assets in Service by Year End
Under Section 179 of the Internal Revenue Code, companies can “expense” the full cost of qualifying fixed assets to reduce their taxable income. This means they can deduct the purchase amount currently rather than having to depreciate the asset over many years. Both new and used fixed assets can qualify. The election is available for […]
Make 2023 Annual Exclusion Gifts by Dec. 31
One of the most effective estate-tax-saving techniques is also one of the simplest: making use of the gift tax annual exclusion. It allows you to give to an unlimited number of family or friends cash or property valued up to a “specified” amount each year without owing gift tax or using up any of your […]
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