C corporation can be the right choice for many small entities because of the deductions it allows. A C corporation enjoys a full deduction for the cost of employees (including owner employees) health insurance, group term life insurance up to $50k per employee and even long-term care premiums without regard to age-based limitations. A CContinue reading “C corporation for the practice, structure for max savings and min taxes”
Tag Archives: taxes
Are you a helper, I need you
If you sits in one or more board of directors in a non-profit or other organization, I need you. I need a helper to refer me to people who needs professional financial advise from team of experts. You might be a teacher, firefighter, policemen,nurses,clergy,volunteers,social workers, and just a philantrophist who can can make a differenceContinue reading “Are you a helper, I need you”
401(k) Plans Are Not Just For Big Businesses
A significant portion of the small business market consists of one person businesses. If you have a client whose business is a one person operation, s/he may be a perfect candidate for a Solo 401(k) Plan. A Solo 401(k) plan is a 401(k) plan for a one-person business and may offer your client an opportunityContinue reading “401(k) Plans Are Not Just For Big Businesses”
Early or Premature Withdrawals from IRAs
Taking money out early from your IRA may trigger an additional tax. Generally, amounts received from a traditional, SEP, or SIMPLE IRA are taxable distributions and must be reported as ordinary income for the taxable year in which they are received. If you are under age 59 1/2, any distributions received are considered early orContinue reading “Early or Premature Withdrawals from IRAs”
Conversion of Traditional IRAs to Roth IRAs
Roth IRAs (“Roth”) have been out of reach for many taxpayers because of income limitations imposed by the IRS. These same taxpayers have also been denied the ability to convert a Traditional IRA to a Roth IRA by a separate, but similar, income restriction. But the rules regarding conversion changed over time. Having the optionContinue reading “Conversion of Traditional IRAs to Roth IRAs”
How to avoid capital gains tax
First, you can use a tax-protected retirement account to avoid paying capital gains taxes on the proceeds from your stock sales. As long as you keep the proceeds in the account and resist the urge to make premature withdrawals, you can grow your retirement savings on a tax-free basis for an indefinite period of time.
However, your retirement account may be subject to certain contribution limits. If you’re under the age of 50, you can contribute just $5,000 per year into your tax-protected IRA account. If you’re over the age of 50, you may be able to contribute as much as $6,000 into your account. Before you make any contributions, be sure to check with a licensed tax professional.
100 days before the year ends, financial planning tasks
What are the financial planning tasks that will help you maximize your income or reduce your taxes before the end of the year? Some of us who are tech savvy, around 20% of the high income earners like engineers in the valley would use some tools and find the resources to fit their needs. SomeContinue reading “100 days before the year ends, financial planning tasks”
How gifting are taxed by Intuit
If you give people a lot of money, you might have to pay a federal gift tax. But the IRS also allows you to give up to $14,000 in 2013 to any number of people without facing any gift taxes, and without the recipient owing any income tax on the gifts. Why it pays toContinue reading “How gifting are taxed by Intuit”
Tax saving rescue from your 401k/IRA to index annuities-IUL
Call Connie Dello Buono CA Life Lic 0G60621 at 408-854-1883 motherhealth@gmail.com for diversification and asset protection with tax advantage to you and your heirs. Learn how to have a tax advantage retirement income from 45-75 yrs of age. Mon-Fri in San Jose and San Mateo and on Sat in Fremont. One one one presentation orContinue reading “Tax saving rescue from your 401k/IRA to index annuities-IUL”
From spender at 20 yrs old to senior citizen at 66 yrs old
Life teaches us a lesson. Before we lose everything, create a budget and save. It is not late whether you are in the spender group or senior group, let me help you avoid RMD, and being broke or losing money in stocks or other high risk investments. Call for appointment. Connie Dello Buono, retirement plannerContinue reading “From spender at 20 yrs old to senior citizen at 66 yrs old”
Doctors, carehome owners and caregivers are some of my clients
They all know that health threats like cancer,stroke or disability can occur without warning. And that they are safe in knowing that they can leave behind a substantial estate with a stroke of a pen to their love ones. And that to act now means ensuring their retirement for lifetime income sooner than later withContinue reading “Doctors, carehome owners and caregivers are some of my clients”
If you have no excuse in making $100k in the next 12m, be ready to work smarter and save early
Women live longer than men, which means we must ensure we have retirement income during old age. Financial savviness calls for not bringing money when window shopping and curtailing your spending habits. business oriented people pay 2% taxes while the working people pay around 40% in taxes 50% taxes from your 401k/IRA can be avoidedContinue reading “If you have no excuse in making $100k in the next 12m, be ready to work smarter and save early”