As the end of the year approaches, it's essential for small business owners to start thinking about tax planning. Strategic tax planning can help you reduce your tax liability...
Posted by True Tax Service on 10/02/2023
The Keogh plan (HR 10 plan) is a tax-deferred retirement plan funded by the employer targeted at self-employed people and businesses that are not incorporated. Distributions to such...
Being a self-employed, independent contractor, or working for a small business can seem like a dream. However, one downside is that you are unlikely to have access to a workplace pension...
With an April 15 tax deadline just around the corner, getting here sooner than we all want or expect it to, last minute filers and even those individuals and businesses who begin to...
Posted by Carmen Garcia on 12/21/2020
What Is a SEP IRA? A Simplified Employee Pension (SEP) IRA permits independently employed individuals or entrepreneurs set aside up to $56,000 per year toward retirement. A...
Posted by Key Tax & Financial Services, LLC on 04/11/2019
At a centralized level, a federal tax deduction is way to reduce the amount of income that is subjected to taxes. From the gross income of a taxpayer, the tax deductions are subtracted....
Posted by John Pournaras Agency on 01/12/2019
Pension plans specifically intended for self-employed individuals and small businesses are called Simplified Employee Pension (SEP) Plans. It’s also known as SEP/IRAs because...
Posted by John Pournaras Agency on 08/30/2018
What is an 'Individual Retirement Account (IRA)?An individual retirement account is basically an investing tool for the individuals who use it to earn as well as earmark the funds...
When a person chooses to leave the workforce, it is important to plan for your retirement. Whether you invest your money or just put a little away each week, the best way to lift your...
Posted by Niner's Accounting & Tax Services, LLC on 03/14/2018