The new Secure Act 2.0 legislation expands upon the Secure Act of 2019 with updates to retirement savings plans across the country. Here’s what you need to know. Automatic Enrollment Requirements Plan sponsors of 401(k) and 403(b) plans will be…
Individual Tax Planning: 6 Steps to take before year-end
As the year ends, taking action on potential ways to lower your individual federal tax bill for the year is important. While previous years have been rife with change, the tax code has seen minimal edits this year. Keep reading…
Time to Make Your Business Year-End Tax Moves
With increasing costs due to inflation putting a strain on cash flow, lowering your tax liability is one way to help your business. While there are often many tax changes in any given year, 2022 has been slow in comparison. …
Funding a Buy/Sell Agreement with Life Insurance
Written by: David Cooper, CPA Any time multiple owners in a business are active in day-to-day operations, the business owners should have a buy/sell agreement. A buy/sell agreement is a binding contract between co-owners that controls when owners can sell…
Tax-Free Capital Gains: Understanding the Qualified Small Business Stock Gain Exclusion
Written by: David Cooper, Joseph Bellante, and Mark Trunfio Many high-net-worth individuals are unaware of an incredibly valuable tax incentive: Section 1202 of the Internal Revenue Code, also known as the qualified small business stock gain exclusion. This tax-planning tool…