A trade war occurs when one nation imposes quotas or tariffs on imports, and foreign countries respond with similar trade protectionism. With the escalation, a trade war reduces international...
Posted by Income Taxes and Bookkeeping LLC on 01/31/2022
A 401(k) work plan helps you save a considerable amount each year in retirement, but there are annual limits for your contributions and those of your employer. Whether you choose a...
Cash balance plans are defined benefit retirement savings plans that allow business owners to make large deductible contributions each year and build up deferred retirement savings....
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/04/2021
Hats off, graduate! You have studied a lot, passed the exams and now have a degree.Now that you have graduated, you are likely to enter the workforce or begin postgraduate studies....
Posted by CORE PERFORMANCE on 07/16/2021
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
Saving for retirement as an entrepreneur can be complicated and expensive, but it doesn't always have to be. If you are an entrepreneur, several retirement accounts can be easily...
Posted by Abundant Wealth Planning LLC on 04/21/2021
A 457(b) plan is an employer-sponsored retirement savings account with tax benefits. With this plan, you contribute pre-tax money to your salary, and that money will not be taxed until...
Freelancers often have much more freedom than their traditionally hired colleagues, but they also face unique challenges. One of the most important is the lack of an employer-sponsored...
Most Americans are familiar with federal and state income taxes, but payroll taxes are not well understood.Payroll taxes are types of taxes applied to earned income: wages, salaries,...