Even though you’ve been paying Social Security taxes for years, you may not be able to escape Uncle Sam even after you claim benefits in retirement. (Dallas Tax Reduction: Avoiding Social Security Tax) It’s important to understand how taxes affect your benefits. For many of us, Social Security is a significant source of retirement income. In fact, roughly half of baby … Read More
Dallas Business Advisors: Stretch Your Retirement Savings
People are living longer, which means your retirement years are longer, too. But do you have enough money saved up to have a long, healthy retirement? (Dallas Business Advisors: Stretch Your Retirement Savings) Watch out for fees. You’d be flabbergasted to see how much of your retirement can go to administrative fees. Many savers focus solely on their returns, not … Read More
Flower Mound CPAs: Balancing Tax Savings with Investments
Nobody likes to pay more taxes than they have to. But there’s also a danger of letting the “tax tail wag the investment dog,” to quote a common saying. (Flower Mound CPAs: Balancing Tax Savings with Investments) You shouldn’t try so hard to cut income or capital gain taxes that it leads you to make unwise decisions. For example, you … Read More
Flower Mound Tax Advice: Retirement Tax Savings
For people nearing retirement or in retirement, every dollar counts and planning ahead is crucial. That’s especially true for taxes. (Flower Mound Tax Advice: Retirement Savings) Now that 2018 tax returns are done and gone, this is an opportune time to look for 2019 tax savings strategies for retirement. Here are two ways to do it: Use your IRA to … Read More
DFW Tax: Having a Business In More Than One State
If your small business has grown beyond your state’s borders so that you operate in more than one place, this could trigger tax complexities. (DFW Tax: Having a Business In More Than One State) Here are some to think about: Business Taxes When Operating in More than One State State Income Taxes If you operate in more than one state, how do … Read More