Get to know your 401k plan rules

Have you ever heard the quote by Peter Lynch, “Behind every stock is a company. Find out what it’s doing?” Well, I am going to alter that and say, behind every 401k there is a plan. Find out what is in it. Read it. I am speaking from experience here. Knowing your 401k plan rules …

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Strategies to maximize HSA benefits

There is no disputing the cost of health care is high and there have not been any signs those costs will decrease. In 1960 health care spending represented  5% of the total U.S. GDP.  In 2020 spending on health care was near 20% of the total U.S. GPD. In 2003 the Medicare Prescription Drug, Improvement …

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Take a closer look at Arizona’s small business income tax

Some people have reached out after the previous blog on Arizona’s new alternative tax, called the Arizona Small Business Income Tax (SBI). So I thought I would do a follow up with some questions and answers: Don’t miss: Why do I want a cost segregation study? Small Business Income Tax (SBI) FAQs Question: How do …

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Arizona’s alternative tax

Normally, we don’t think of Arizona as being in the forefront of new changes, but they sure got creative in 2021. In June of 2021, the legislature passed into law Arizona’s alternative tax. This tax is called the Arizona Small Business Income Tax (SBI). Don’t let the title lead you down the garden path – it …

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First-time home buyer? Talk to your CPA.

Buying a home can be a stressful process, especially if it is your first time. In a normal market, the administrative, legal, and financial requirements are enough to overwhelm even the most prepared home buyers. And as we all know, the real-estate market has been anything but normal lately. This has further increased the financial …

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Save for the future with a Roth IRA

Live in the moment, be carefree, right? When every day becomes a “treat yourself” day, saving for the future seems like tomorrow’s worry. Well, saving for the future is a very necessary task and the only time you can save for the future is the present. There are ways to save for the future that …

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IRS releases 2022 limits on retirement plans

Like many other figures, the contribution limits and phase out ranges for retirement plans are adjusted annually for inflation. The IRS has recently released new 2022 limits on retirement plans. Here are some highlights of the new changes: Contribution limit for employees who participate in 401(k), 403(b), most 457 plans and the Thrift Savings Plan …

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Advantages of a Roth IRA for retirement

Saving for the future can be a daunting task if you are unsure where to start or what the advantages of each type of saving can do for you. Let’s take a minute to look at the advantages of a Roth IRA. A Roth Individual Retirement Account (IRA) is an account you open and manage …

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