As Boomers and Gen Xers approach retirement, effective financial planning becomes crucial to ensure a comfortable and secure future. This article outlines essential tax and financial planning strategies tailored to the unique needs of individuals nearing retirement. By understanding and implementing these strategies, you can navigate the complexities of [...]
The IRS has been diligently working to identify and address these improper claims. A recent review has revealed that a substantial portion of the claims submitted show a high risk of being improper. As a result, the IRS has announced new measures to ensure compliance and protect taxpayers. IRS's [...]
Failing to address any foreign assets you possess in your estate plan can cause unexpected outcomes. The good news is that with the help of an experienced estate planning advisor, you can structure the ownership of your foreign assets according to the laws of the U.S. and the country where they’re located. [...]
Embarking on the journey to find the right internship can be both exciting and overwhelming. Internships are more than just a stepping stone; they’re an opportunity to gain practical experience, expand your network, and set the stage for your future career. Here’s how to make the most out of [...]
One of the goals in creating a comprehensive estate plan is to maintain family harmony after your death. Typically, with an estate plan in place, you have the peace of mind that your declarations will be carried out, as required by law. However, if someone is found to have exerted “undue influence” [...]
Savings bonds are purchased by many Americans, often as a way to help fund college or show their patriotism. Series EE bonds, which replaced Series E bonds, were first issued in 1980. From 2001 to 2011, they were designated as “Patriot Bonds” as a way for Americans “to express [...]
The Massachusetts sales tax holiday is right around the corner on August 10th and 11th! Most retail items up to $2,500, purchased in Massachusetts for personal use on these two days, will be exempt from sales tax. Plan your purchases accordingly and help support small businesses. Do You Qualify? [...]
If you’re taking your first steps on your estate planning journey, congratulations! No one likes to contemplate his or her mortality, but having a plan in place can provide you and your loved ones peace of mind should you unexpectedly become incapacitated or die. Here are five basic pitfalls [...]
As an accountant, you're adept at managing the finances of businesses and individuals alike. However, it's essential to apply the same level of diligence to your own personal financial management. Here are some personal finance tips tailored specifically for accountants to help you maximize your financial health and achieve [...]
If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. But it’s important to avoid certain risks and charge an adequate interest rate. Basics Of This Strategy Interest rates have increased over the last [...]
