You can reduce taxes and save for retirement by contributing to a tax-advantaged retirement plan. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a taxwise way to build a nest egg. If you’re not already contributing the maximum allowed, consider increasing your contribution rate between now and year end.[ … ]
A-Z Blog
Industry Outlook 2019-2020: Construction
Construction leaders interviewed for this report anticipated revenue growth of 10 – 25 percent, which compares more conservatively to estimates in 2018. They indicated that fees are also up by 3 – 4 percent. Construction backlogs remain high and hover around nine months, with Phoenix cited as a high-growth area nationally for construction. Backlogs in[ … ]
Small businesses: Stay clear of a severe payroll tax penalty
One of the most laborious tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount of taxes from employees’ paychecks but also that you pay them over to the federal government on time. If you willfully fail to do so, you could personally be hit with the[ … ]
Industry Outlook 2019-2020: Financial & Professional
BOK Financial completed its acquisition of CoBiz Financial, Inc. in late 2018, essentially creating a major footprint to expand financial services market share in both Arizona and Colorado. CFOs are taking on more duties in technology, human resources and operations (beyond traditional financial roles) in order to understand key performance indicators and the firm’s unique[ … ]
IRA charitable donations are an alternative to taxable required distributions
Are you charitably minded and have a significant amount of money in an IRA? If you’re age 70½ or older, and don’t need the money from required minimum distributions, you may benefit by giving these amounts to charity. IRA distribution basics A popular way to transfer IRA assets to charity is through a tax provision[ … ]
Industry Outlook 2019-2020: Health Care
There are signs of increasing mergers and alliances between health care providers that, when successful, allow for more negotiating power with payers and more diverse, ancillary services. According to health care M&A consultancy Irving Levin Associates, 2018 saw a record number of publicly announced transactions, primarily in skilled nursing and senior housing properties. Deal value,[ … ]
Selling securities by year end? Avoid the wash sale rule
If you’re planning to sell assets at a loss to offset gains that have been realized during the year, it’s important to be aware of the “wash sale” rule. How the rule works Under this rule, if you sell stock or securities for a loss and buy substantially identical stock or securities back within the[ … ]
Use a Coverdell ESA to help pay college, elementary and secondary school costs
There are several ways to save for your child’s or grandchild’s education, including with a Coverdell Education Savings Account (ESA). Although for federal tax purposes there’s no upfront deduction for contributions made to an ESA, the earnings on the contributions grow tax-free. In addition, no tax is due when the funds in the account are[ … ]
Industry Outlook 2019-2020: High-Tech
Leaders say that growth areas are in cyber and data security (including managed services) as well as SaaS (Software as a Service) rather than in actual software. Cloud and subscription-based services are taking the lead as well as Internet of Things, data collection and connectivity innovations. Recently, stratospheric technology company, World View named a new[ … ]
