Christine Hradsky No Comments

Effective Retirement Planning Includes Contingencies

Retirement Planning

We’ve been hearing for years that Americans don’t save enough for retirement. Research indicates that many are unaware of the true cost of living during retirement.

Roughly one in five Americans in the workforce believe that “working for pay” will be a major source of their retirement income. This is according to the “2018 Retirement Confidence Survey produced by the Employee Benefit Research Institute (EBRI). Nearly half of respondents believe paid work will be a minor source of retirement income for them. Read more

Christine Hradsky No Comments

A Clear Policy Improves Billing Results

Billing

Medical practices are always looking to speed up third-party payments and keep patients’ accounts current. Here are some ways to make your practice’s billing procedures more efficient to improve cash flow.

You may have heard about the Vermont doctor who was fed up with the way medicine is practiced today and opened an office she calls “Simply Medicine.” The sole practitioner doesn’t accept insurance. Her fee is listed on a board in the waiting room: $2 a minute for labor, plus the cost of supplies. Read more

Christine Hradsky No Comments

Many Taxpayers Will Pay No Tax on Long-Term Gains and Dividends

Long-term gains

Under the new tax law, some individuals will still qualify for the 0% federal income tax rate on long-term capital gains and dividends.

Do you have long-term capital gains or qualified dividends? If so, there’s good news: After the Tax Cuts and Jobs Act (TCJA), you might still qualify for the 0% federal income tax rate on these types of income. The rate is only available for those with relatively low income. But, if your income is too high to benefit, your children, grandchildren or other loved ones may still be eligible for the tax savings. Here are the details. Read more

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How Tax Reform Affects Tax Planning for C Corporations

C Corporations

From a reduced corporate tax rate to expanded depreciation breaks, the Tax Cuts and Jobs Act (TCJA) provides a host of favorable changes for C corporations, including personal service corporations.

One of the biggest changes under the Tax Cuts and Jobs Act (TCJA) is the permanent installation of a flat 21% federal income tax rate for C corporations for tax years beginning after 2017. The new 21% rate applies equally to personal service corporations (PSCs). (Under prior law, PSCs were taxed more heavily than other C corporations.)

This is great news if you own or manage a C corporation, including a PSC. Here are some specific tax planning considerations for these entities under the TCJA. Read more