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• Accountants Should Change the Category Descriptions in Bookkeeping Systems After They Learn of Tax Changes. Most Don’t. April 23, 2025
  There is nothing permanent except change!  Stated by a Greek philosopher over 2500 years ago and it still stands true, especially in the tax code. Sometimes there are big changes, like those potentially coming with the expiration of TCJA, and sometimes small changes, but it’s a good bet that every year something for business owners […]
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• Tax Planning Gem: Use a CRAT or CRUT to “Put Back” Your Stretch IRA Options for Non-spouse Beneficiaries! April 16, 2025
  Current tax rules now require that the entire balance of a non-spousal participant’s inherited IRA account to be distributed or withdrawn within 10 years of the death of the original owner. The 10-year rule applies regardless of whether the participant dies before, on, or after the RMD (required minimum distribution) age at which they had to […]
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• People Complain About Taxes, but Most Avoid Planning Better Outcomes! April 9, 2025
  It’s human nature, of course. We complain about our weight while in the line at the ice-cream stand. We complain about being tired, then stay up late playing the latest game on our smart devices. Humans are funny and contradictory animals. Have you ever noticed that when you’re in a conversation, people are quick to […]
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• The Tax Deadline Is About Payments Not Filing! April 2, 2025
  Some people have filed their tax return, received a refund and already spent it. Others have filed and paid and the “pain is over” for another year. But for many who have not filed and are looking at the calendar and saying “Oh, no!”, here are some tips. If you haven’t filed because of a […]
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• Tax Planning Light Bulb Moment March 26, 2025
  Have you ever had a “light bulb” moment?  I have been driving for many years. I’ve driven at least a million miles and I own a few cars (I collect certain types), and when driving my spouse’s car or one from the collection that I haven’t driven in a while, inevitably it’s time to gas up. I […]
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• Don’t Let Your Stockbroker Off the Hook When it Comes to Tax Planning March 18, 2025
  Don’t let your stockbroker off the hook when it comes to tax planning. Many people work with brokers when they buy and sell stocks. Many people now, because of the internet, also have become their own stockbrokers, doing their own research and trading on various platforms. Whether you use a professional or do your trades yourself, you still […]
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