by Karen Baksa | Sep 25, 2024 | Financial Planning, Individual Taxes, Tax Tips
Here are some tips that should trigger you to conduct a full tax planning session to ensure your tax bill next year is not higher than it needs to be. 1. You owed tax last year. If you have not adjusted your withholdings, you could be in for a big tax bill. Time...
by Karen Baksa | Jun 11, 2024 | Financial Planning, Tax Tips
The 2024 HSA Contribution Limits have been set for 2024. And inflation adjustments break through the historic trends of 1 to 2% increase each year. Next year the amount you can save to pay for health costs with pre-tax dollars jumps by more than 7%! HSA defined An HSA...
by somichcpa | Mar 24, 2022 | Financial Planning, Individual Taxes
Interest rates are expected to increase this year in response to inflation that is running at a 40-year high. How will you be affected? Any interest rate revision can cause a ripple effect throughout the economy. Accordingly, the Federal Reserve’s actions probably...
by somichcpa | May 11, 2020 | Financial Planning
How to get cash quickly when you’re out of work You’re not alone in trying to navigate the financial uncertainty during the coronavirus pandemic. Millions of American workers who lost their paycheck because of COVID-19 need to find creative ways to pay bills....
by somichcpa | Apr 26, 2020 | Financial Planning, Individual Taxes
The Cares Act is continuing to provide program letters on the expanded unemployment benefits. This has not been fully implemented across the country and it will be administered by each state’s local benefits programs. Fortunately, Ohio is one of the states that...
by somichcpa | Feb 11, 2020 | Financial Planning, Individual Taxes, Retirement Planning
The Setting Every Community Up for Retirement Enhancement Act, also known as the SECURE Act, was passed by Congress in late December 2019. Here are some of the features in the new legislation that will help you save more for retirement: Money can continue to grow...
