Month: November 2017

When fully funding your 401(k) isn’t the best option

Maxing out contributions to your company’s 401(k) plan is almost always a good idea. After all, when you contribute to a traditional 401(k) plan, your current tax bill is lowered. You aren’t taxed on contributions until the money is withdrawn…

Consider these tax moves before January 1st

Under the tax reform plan recently announced by the Trump administration, most itemized deductions would be eliminated, except those for charitable donations and mortgage interest. Because of this potential change, you may decide you want to accelerate certain deductible expenses…

3 little-known tax breaks for small businesses

Some tax planning moves for small businesses are more common, like acquiring property that qualifies for the generous Section 179 expensing allowance. But other strategies may fly under the radar. Here are three little-known ways to save: Building improvements:¬†Generally, amounts…