HMA

Consider the Tax BEFORE You Sell

Multiple tax rates hold the key In times of market volatility or when a financial need arises, it is only natural to consider selling some investments.  Understanding the tax consequences is key to making an informed and planned decision. Here is what you need to know BEFORE you sell:   Investment Tax Rates Investment Tax Classification […]

Help Older Adults Stand Up Against Scams

The Consumer Financial Protection Bureau recently reported in financial exploitation cases that older adults lost an average of $34,200. Unfortunately, these funds are often never recovered. You can ensure this doesn’t happen by learning more about scams and how to protect yourself. Here are some tips: Recognize the scams. The best way to protect yourself […]

Cash in on 0% Capital Gains Tax Rate:

While the maximum capital gain tax rate can be as high as 23.8 percent, most taxpayers pay 15 percent. But there is the possibility to have your capital gains go tax-free; zero percent! In fact, this tax break has been around for more than a decade and comes into play more often than you may […]

Reminder: Major Employment Tax Deadlines

Handling employment taxes can be complicated, especially when you’re required to file important tax documents throughout the year. Here’s a list of key forms and deadline dates to help keep you on track. Form 941 — Employer’s quarterly federal tax return This form is used to report income tax withheld from employees’ pay and both […]

Save Money With These Year-End Ideas

There’s still time to reduce your potential tax obligation and save money this year (and next). Here are some ideas to consider: Estimate your 2019 and 2020 taxable income. With these estimates you can determine which year receives the greatest benefit from a reduction in income. By understanding what the tax rate will be for your […]

The IRS Is Not Always Right

A letter in the mailbox with the IRS as the return address is sure to raise your blood pressure. Here are some tips for handling the situation if this happens to you: Stay calm. Try not to overreact to the correspondence. They are often in error. This is easier said than done, but remember the […]

Business Advice: Every Impression Matters

With competition abounding for virtually every product or service, businesses need to hone every advantage available to them. One of the ways you can set your business apart from the pack is to create an awesome customer experience starting with the first interaction that continues through the entirety of the relationship. How does one foster […]

Reminder: Time to Start the Financial Aid Process.

If you have a child in college or entering college during the next school year, you need to read this. You can now fill out your required Free Application for Financial Student Aid (FAFSA) for the next school year. FAFSA application timeframe The Free Application for Federal Student Aid (FAFSA) process opened on Oct. 1. […]

No Excuses. Time to Lower Your Tax Bill

It’s easy to push tax planning to the sidelines when tax laws are ever-changing and hard to understand. Here are some common (but often unfounded) reasons for avoiding tax situations, plus tips to help get past them and start paying less tax this year: It doesn’t make a difference. This point of view is especially […]

Cash Flow Concepts That Can Save Your Business

A sad and oft-repeated truth is that half of all new businesses fail within the first five years. Although many factors contribute to business failure, a common culprit is poor cash management. All businesses, large and small, must deal with the uncertainty of fluctuating sales, inventories and expenses. Follow these practices to moderate the ebb […]