Key Takeaways Starting a business begins with a well-researched business plan Each type of business structure has its own rules and potential tax implications Operational logistics include financials, marketing, and HR considerations, including setting up a retirement plan Small businesses are the little engines—numbering over 30 million in the United States—collectively powering a trillion dollar impact […]

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Key Takeaways Traders may face more complex tax issues than ordinary investors If you trade derivatives, get familiar with Section 1256 What to know about the “trader’s election” If you’re a trader, you take calculated and managed risks in an attempt to make money … or at least outperform your chosen benchmark. You might even […]

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Key Takeaways Year-end charitable donations are critical for nonprofit organizations Many charities are seeing greater needs while receiving fewer donations  Recent legislation has changed how charitable donations may affect tax returns The holidays are a time for giving—a time to reflect on the year’s bounty. Many people use November to start planning their charitable donations. […]

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Key Takeaways Transitioning into retirement may mean changes in your employment status; make sure your retirement tax strategies keep pace The near-retirement years can offer certain tax-advantaged savings alternatives Downsizing your home? Consider the tax implications The road to retirement is changing, and the best route isn’t always clear. If you’re approaching your retirement destination, […]

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Key Takeaways Short-term capital gains are taxed as ordinary income; long-term gains are taxed at lower rates For 2022, capital gains tax rates range from zero to 20%, but policymakers occasionally alter these rates and thresholds Certain derivatives are taxed at a blended 60/40 rate of long-term and short-term capital gains Having a new stock […]

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