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Category: Taxes

27 Jun

Pension Contributions & Lower 2017 Taxes

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Did you know that you can deduct pension contributions made by September 15, 2018 from your 2017 taxes? In most years that helps with managing cash flows, but this year it could have major tax consequences. With the corporate tax rate decreasing for most companies from 35% in 2017 to 21% in 2018, deducting pension […]

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Legal Marijuana & OPEB in Massachusetts

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Legal retail sale of marijuana in Massachusetts is fast approaching and many towns are reviewing whether or not to have a local store. Regardless of your personal views on the legalization, this presents a unique opportunity to help with your OPEB costs. In addition to the sales and state excise taxes, cities and towns will […]

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14 Aug
401k

Do S-Corporation Distributions count for 401k & Pension Plans?

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S-Corporations, Distributions, W-2 Wages, Self-Employment Tax, 401k & Pension Plans & their interaction – it’s all about balance. So, you’ve talked to your accountant & they tell you to minimize your W-2 wages to limit your self-employment taxes. Then, you talk to your investment advisor and they explain the advantages of tax-qualified retirement plans such […]

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IRS webinar for the upcoming ACA reporting season – 10/20

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We heard from many of our governmental clients last year that the ACA reporting was complex, time consuming & difficult at best. Apparently, the IRS also heard your concerns and has scheduled a webinar for October 20th to better explain the rules and answers your questions. While we can’t guarantee the value of the information they will […]

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Is A Solo DB Plan Right For Me?

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If you’re a one-person business or have substantial self-employment income outside of your “regular” job, a Solo Defined Benefit (“DB”) plan may be for you.  We recently received a call from a professional with the situation of a surprise $250,000 income boost this year and another $100,000 the following year.   His question was “how can […]

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