With a health savings account (HSA), anyone that has a high deductible health plan that qualifies can use pre-tax dollars for approved medical expenses. The money is kept using an...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 06/25/2021
One of the main advantages of life insurance is that payment to beneficiaries is free. Because life insurance benefits in the event of death can run into the millions of dollars, it's...
A qualified tuition program, also known as section 529 plans, is an impressive way to prepare to take care of your college finances. What is a Qualified Tuition Program?A qualified...
When planning for your retirement and thinking about how to leave a financial legacy for your heirs, understanding the concept of Stretch IRAs is crucial. A Stretch IRA, also known...
Posted by KLSM CPA Firm PLLC on 11/27/2023
According to the Social Security Administration statistics, over 90% of American workers are enrolled under the social security services scheme. If you’re here, you are either...
Posted by KLSM CPA Firm PLLC on 05/09/2022
An Individual Retirement Account (IRA) is a tax-free savings account anyone can open and save for the long term. The IRA is primarily designed for those who want to begin saving for...
Posted by CORE PERFORMANCE on 04/30/2022
You may be subject to capital gains tax when you gain from the sale of an asset, such as a business, land, or shares. Capital gains are sometimes taxed at the same rate as ordinary...
Posted by CORE PERFORMANCE on 02/28/2022
For people worried about retirement payment, it is essential to examine the pros and cons of an annuity.An annuity is a type of insurance that gives payment. There is a payment that...
Posted by KLSM CPA Firm PLLC on 07/24/2021
The loss of a loved one can lead to emotional burden and significant financial debt related to the settling of the estate. If you are the beneficiary of a retirement plan's assets,...
Posted by Karen Munoz, EA on 07/17/2021