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Our Blog

Enjoy the deals without the Black Friday rush this year

November 8, 2019

If you’re not a fan of Black Friday chaos—you know…the crowds, the rush, the relentless search for a parking space—then ditch the onsite shopping this year while still enjoying the sweet deals.

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What you need to know about the new overtime rule

November 1, 2019

The Department of Labor (DOL) announced a final rule that allows a much larger pool of employees to earn overtime if they work more than 40 hours per week. Specifically, the DOL raised the salary level for employees who are counted as “exempt” (or unable to earn overtime pay).

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Launching another business? Be sure to cover a few business basics…

October 15, 2019

If you’re starting a second business, then you know everything that’s involved with a business launch. However, there are a few business basics that every entrepreneur should revisit before diving into another enterprise. Consider these business basics and then put them into a well-thought-out business plan:

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3 cybersecurity tips to protect your small business

October 1, 2019

The 2019 small and midsized business (SMB) Cyberthreat Study from Keeper Security reported that nearly two out of three SMB owners do not feel threatened by or are not concerned about cyber attacks. Yet, in the previous year’s study, two out of three business owners reported falling victim to some level of data breach.

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De-stress your workday!

September 16, 2019

We can all get caught up in the day…meetings, calls, texts, emails and the myriad of other workday demands that pile up quickly and can create unwanted stress.

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About to get grillin' for Labor Day? Mind a few of our safety tips first.

August 29, 2019

Labor Day is upon us—a popular holiday that is dedicated to the millions of women and men who keep this country going strong. For many, it also means that it’s time to break out the grill for that big end-of-summer celebration. And because most of us aren’t Grill Masters, this is a good time for a refresh on some basic grilling safety tips to keep everyone safe and the party going.

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Back to school on a budget: 4 solid tips to save you money

August 19, 2019

Let’s face it. Kids aren’t cheap, so you have to save money where you can. Back-to-school shopping is a good place to start because costs can add up quickly—especially if you have more than one child. Consider these tips for sending your kids back to school without breaking the bank.

 

 

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$700 million is what Equifax will pay out as a result of its data breach. Make sure you get your share.

August 6, 2019

According to the commission's online claims process, those whose personal information was exposed can opt for 10 years of free credit monitoring, which breaks down as follows: Four years via the three major credit bureaus (Equifax, Experian and TransUnion) and six years specifically through Equifax.

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Deducting kid’s summer camp and daycare costs under the Child and Dependent Care Credit

August 1, 2019

With all the tax law changes this year, be sure that you are getting your just deductions in the coming tax season. That is, qualifying deductions that fall under the Child and Dependent Care Credit. According to tax giant and trusted resource Intuit, here’s the skinny…

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Traveling safe: Tips to keep you secure while on the road

July 15, 2019

These days, we seem to have endless articles on IT security while traveling, but far fewer on physical safety. Because summer can be big travel months for many businesses, we put together the following list of tips to help keep you safe while away from home. 

 

 

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Get up, get out and have some cost-effective fun this summer!

July 1, 2019

As your trusted advisor, we are always looking for ways to improve your financial health—and that doesn’t stop at business activity. We also want to support you with tips to help you save money in your personal life as well.

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June is National Safety Month! Tips for augmenting your marketing efforts.

June 17, 2019

June is national safety month, and it never hurts to remind your clients and community that safety always comes first. Our goal with this blog is to help you augment your marketing initiatives with a few ideas around safety. While we can’t cover every industry in a single post, we hope that you find the tips below useful and that they spark some innovative new marketing ideas!

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Tapping into a 529 plan for the first time? Tips for parents of college-bound grads…

June 3, 2019

It’s graduation season, and for many parents that means it’s almost time to start shelling out for college tuition. For those well-prepared parents with established 529 plans in place, the time has come to tap into that money pool. Of course, when it comes to tax-advantaged savings, trust that the IRS is keeping close watch, so it’s important to avoid making any rookie mistakes. It’s also important to keep saving as you move forward.

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Tips for building a company culture that supports remote workers

May 15, 2019

Having a remote workforce can be challenging, especially if you are trying to build a positive, collaborative work environment. So, how do you create a sense of comradery when you have staff in remote locations? These tips can help:

 

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Tax refund on the way? Use it to fortify your financial future.

May 1, 2019

If you are expecting a refund this year, you may be tempted to splurge on something not-so-practical. Before you do, take some time to think about ways to use your refund to bolster your financial health. We’ve put together a few ideas for you to consider:

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Take advantage of these Tax Day deals

April 15, 2019

Once your taxes have been filed, first, take a moment to breathe a big sigh of relief…and then enjoy some Tax Day (April 15, 2019) discounts. There’s nothing like a good deal to take the sting out of tax obligations. Below, we’ve compiled a short list of best food and drink deals, taken from offer.com.

 

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It’s spring! Reboot your enthusiasm with these tips…

April 1, 2019

The long stretch from the end of the winter holiday season until the next break in your routine can feel like eternity. If you feel the need to reboot your enthusiasm as the spring season arrives, try these tips:

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5 tips to dial down distractions

March 15, 2019

Our most precious commodity is time—and our attention is a close second. That’s why everyone can use some help on how to tune out daily distractions. We compiled the following helpful tips from copyblogger.com to get you started on dialing down distractions:

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4 reasons to file your return early

March 1, 2019

The April 15 filing deadline is rapidly approaching, so we encourage you to send us your tax documentation as soon as possible to expedite the filing process. Here are four important reasons why you should file your return sooner rather than later:

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A few key tax reform provisions every business owner should know about

February 15, 2019

This tax season is an important one for many business owners because it’s the first that will be impacted by the Tax Cuts and Jobs Act (TCJA). How big of an impact is dependent on your unique situation. We’ve compiled this short list of provisions that may affect the business community:

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Ways to skinny down Super Bowl Sunday

February 1, 2019

According to Forbes.com, Super Bowl viewers traditionally load up on millions of pounds of less-than-healthy foods during the big game—including ribs, pulled pork, tortilla chips, nuts, popcorn and bacon—all washed down with beer (the Super Bowl beverage of choice). If you are trying to stick to your New Year’s resolution to eat better, consider a few healthy substitutes for the traditional Super Bowl eats:

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On your mark, get set…GO prepare for tax season

January 17, 2019

The combination of running a business and your life and preparing for tax time can drive some people into a slight panic. But no need to get stressed if you are prepared. Now is the time to start organizing all documents required to file your tax return.

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5 tips to mitigate paying taxes on Social Security benefits

January 2, 2019

Like the old paraphrased saying goes: In this world, two things are certain—death and taxes. The recent federal tax overhaul changed a lot of rules, so it’s as important as ever to understand your tax obligations, including those on Social Security benefits.

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New IRS warning: Email scams will surge this holiday season

December 10, 2018

Unfortunately, cyber scammers never take a vacation. In fact, the IRS has issued a warning of a surge in fraudulent emails that bait potential phishing victims with fake tax transcripts. Links within these emails lead recipients to documents containing the well-known malware, Emotet.

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Minimize the hustle and bustle and stay on budget this holiday season

December 3, 2018

The holidays can be overwhelming. You only have so many hours in a day, your gift list is long, and your budget may be tight. A bit of up-front planning and prioritizing can help save you time and money. Here are a few ideas to help you minimize the hustle and bustle, stay on budget, and find more peace this holiday season.

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Spreading the feeling of gratitude

November 19, 2018

Instilling a thankful frame of mind among your staff makes for a gratifying work place. Consider a few suggestions for developing an atmosphere of thankfulness to get into the spirit of the holiday season.

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Ramp up awareness to ‘shop small’ on Small Business Saturday this month

November 12, 2018

Black Friday and Cyber Monday need no introduction, but for small business owners it’s all about Small Business Saturday—an annual holiday shopping tradition that gets communities out in support of their local small businesses. Small Business Saturday falls on November 24 this year, so if you haven’t already…start getting the word out.

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Important Update: 1099 Reporting for 2018

November 1, 2018

The Protecting Americans from Tax Hikes (PATH) Act of 2015 requires Forms 1099-MISC reporting non-employee compensation (NEC) in box 7 to be filed by January 31.

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Bring in extra traffic with some trick-or-treat action

October 15, 2018

Small business owners in many communities offer downtown trick or treat events. Take advantage of this opportunity to build your business reputation. Involvement in local events goes a long way with both existing and prospective customers—indicating a vested interest in your community. Find creative ways to make your business stand out this trick-or-treat season. We hope the following suggestions will spark fun promotional ideas:

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Recognizing Women-Owned Small Businesses Everywhere!

October 1, 2018

October marks Women’s Small Business Month, and we are happy and proud to recognize women in business both locally and around the world. Successful business women of the past and present continue to forge new paths for female entrepreneurs. We celebrate all those who are breaking the glass ceiling and serving as role models and mentors to women everywhere.

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Take Advantage of the September Slowdown

September 17, 2018

For many business owners, September tends to bring a bit of a slowdown. The chaos of getting kids prepared for going back to school has passed, and a focus on saving money tends to kick in as people prepare for the coming holiday spend. Combined, this can often translate into a lull for business owners.

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Reminder: Q3 Tax Estimate is Due Soon!

September 4, 2018

This is a friendly reminder that the Q3 tax estimate payment deadline is coming up fast. Be sure to make your payment by September 15, 2018 to avoid penalties. Currently, penalties for late or no payment average about 4 percent. And wouldn’t you rather keep that money in your pocket?

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Dinner, Drinks and Deductions

August 21, 2018

According to new rules from the Tax Cuts & Jobs Act, meals and entertainment tax-deductible expenses for businesses have undergone considerable reform. Because the explanations of new deduction guidelines can be confusing, we’ve created this brief outline for you. A visit with your accounting professional to ensure your Chart of Accounts is correct may also be beneficial.

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Back to School on a Budget

August 15, 2018

August is upon us once again. The collective “UGH!” is heard nationwide as families trudge toward the school supplies aisle in preparation for the upcoming academic year. Sadly, the “days-gone-by” supplies such as a box of crayons, spiral-ring notebooks and a pack of #2 pencils have evolved into a much longer list. But never fear, we’ve put together these useful tips to help you do “back to school” on the cheap.

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Healthy Summer Eating Made Easy – Part II

August 1, 2018

So popular was the topic of our last post, that we created Part II to create our eating-healthy-this-summer-themed blog series. Enjoy these added nutritional and time-saving tips for summer meal planning.

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5 Tips to Eat Healthy While on Vacation this Summer

July 16, 2018

If you are like most, summer is prime time for family and friend vacations. It’s a time to unwind and recharge…to see new places and try new things. For many, “new things” often means food. And if you are trying to maintain or lose weight, that can be a problem. So, for all you travelers trying to stay healthy this summer, here are 5 great tips to help you stay on a healthy eating plan and still enjoy your vacation!

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5 Tips to Get Kids Out of Technology and Into Nature this Summer

July 2, 2018

If you are like most families, summer means vacation. And if your kids are like most kids, they tend to be tethered to their technology. Whether planning to travel abroad or a long weekend at a local campground, summer is a time for exploration and simply paying attention to the beauty around us.

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Ideas for Multigenerational Family Vacations this Summer

June 18, 2018

Multigenerational family vacations have experienced an uptick in popularity, especially with older generations being more active and families living farther apart. Family getaways certainly bring people together physically, but also emotionally. Dedicated family time is simply good for the soul…even more so when multiple generations take part. With this in mind, we bring you a few ideas and tips to consider when planning your next multigenerational vacation.

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Your Smartphone Preparedness Travel Guide

June 4, 2018

For many of us, our smartphone is a vital travel tool. We rely on it for navigating unfamiliar places, taking photos, and identifying recreational activities. Michael Zhao, an editor for TheWirecutter.com, offers the following tips on what to pack in addition to your smartphone—so you won’t be stranded when traveling this summer...or any other time of the year.

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Facing the Facts: How to Interpret Facial Expressions at Work

May 15, 2018

You may be completely proficient at decoding emojis on social media and in text messages, but for many of us, figuring out what other people’s facial expressions mean can be quite a challenge. Here’s a quick rundown of how to interpret different facial stances based on research from people-communicating.com:

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Summer is Just Around the Corner— And So Are Potential Childcare Tax Credits

May 1, 2018

Summer will be here before you know it! If you are a working parent with school-aged children, you know that it can also mean pretty steep bills for childcare and summer camp. However, you may be able to soften the hit to your family’s budget if these services qualify for the Child and Dependent Care Tax Credit.

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Employee Recognition – A Great Way to Motivate Your Staff!

April 18, 2018

Quite often we can get so wrapped up in checking projects off the company’s to-do list that we forget to recognize the labor that went into each accomplishment. Acknowledging milestones provides opportunity to show appreciation to the employees who helped you achieve them...

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Receiving a Tax Refund? Spend It Wisely With These Tips!

April 2, 2018

Are you expecting a tax refund? If so, don’t treat your tax refund as ‘bonus’ cash. Rather look at it as simply a return of taxes paid beyond your actual obligation. This will help you think about using this money purposefully. Here are some ideas to try:

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Spring Cleaning Time is Here! An Easy 3-Step Checklist for Cleaning Your Office

March 19, 2018

The spring season is here! In addition to taxes, many of us want to take care of some overlooked cleaning tasks. Procrastination often creeps in when it comes to cleaning—especially our offices. It can feel overwhelming and somewhat unproductive to spend time decluttering and cleaning your workspace, but once complete, most people feel a sense of relief and calm. Use this handy checklist...

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Disappearing Tax Deductions! Don’t Miss Them on Your 2017 Tax Return

March 5, 2018

Have you filed your 2017 taxes yet? If not, you still have the opportunity to make sure that you lower your tax obligation as much as possible. With new tax laws in effect for 2018 and beyond, the following deductions will disappear after this tax season—check them out to see which ones may help you lower your taxable income...

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Tips to Boost Client Appreciation Efforts… Even When Time is Tight

February 15, 2018

When you are super busy running a business, it can be easy to let customer appreciation slide to the bottom of your long to-do list. The problem is, if you don’t show your customers love on a regular basis, they’re going to feel neglected, which can put their continued loyalty at risk.

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Considering Hiring a Cybersecurity Professional? Here’s What to Look For.

February 1, 2018

With the occurrence of cybercrimes affecting businesses increasing daily, many companies are looking for outside expertise to help them mitigate their risks. If your company has never engaged a cybersecurity professional before, you may be unsure of what to look for. The IRS suggests businesses use the following four steps when evaluating and selecting a cybersecurity...

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Need Help Trying to Make New Habits Stick? Try These Simple Tips…

January 16, 2018

Even if you are not a New Year’s resolution maker, it’s likely that at some point in your life you’ll want to adopt healthier or more productive habits. When you do want to make a change for the better, consider trying the following tips from lifehack.org to increase your chances of making your new good habits stick:

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Quick Tips to Help You Tackle Your Taxes with Ease

January 3, 2018

Tax season is approaching quickly. It’s just a few weeks until the IRS officially starts accepting returns, which means now is the perfect time to use the tips below to help you net some last-minute tax-savings and tackle tax season with ease.

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5 tips to mitigate paying taxes on Social Security benefits

January 2, 2018

Like the old paraphrased saying goes: In this world, two things are certain—death and taxes. The recent federal tax overhaul changed a lot of rules, so it’s as important as ever to understand your tax obligations, including those on Social Security benefits.

Read More...

Tips to Help You Truly Enjoy the Most Wonderful—and Overwhelming—Time of the Year

December 18, 2017

It’s amazing how much festive fun can be packed into a few weeks. While the holidays truly can be wonderful, they can also feel overwhelming with too much to do and too many temptations that derail us from enjoying what is truly important. To help you make your holidays feel more fulfilling and less frantic, try these suggestions...

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Tax Reform Update: A Snapshot of Key Proposals in the GOP Bill

December 4, 2017

On November 16, the House passed a new tax reform bill that moves the GOP closer to bringing the legislation to fruition. Now the Senate is preparing its own tax reform package. If passed, it must be reconciled with the House before any final legislation goes to the White House. Here is a snapshot of some of the key changes proposed in the tax reform bill:

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Tips to Simplify Your Thanksgiving Spread

November 14, 2017

With just days to go before Thanksgiving, the clock is ticking down to some of the most memorable meals of the year. However, for many of us, the pressure of preparing a perfect Thanksgiving feast can be overwhelming. If this is true for you, consider these tips to simplify your seasonal spread.

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Plan Now and Take Advantage of 2017 Tax Savings

November 1, 2017

The end of the year is often hectic, which is why it’s important to take some time now to reduce your tax bill. Our firm can offer additional strategies to further mitigate your tax burden; however, the following 5 tips are an excellent starting point:

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Simplify Seasonal Staffing with these Smart Strategies

October 16, 2017

Whether your business needs temporary workers to get through the holiday season or you hire short-term help on a regular basis, the process of finding the right candidates can be challenging. Try applying these strategies to make seasonal staffing easier:

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5 Tips to Reset Your Stress Response

October 2, 2017

Because stress related to work, family issues and other events is something that affects many of us, it’s important to reset your own stress response to protect your health and productivity. Sharon Melnick, Ph.D., a business psychologist, offers these tips:

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Proposed Tax Reform Plan: What Could It Mean for You?

September 29, 2017

Tax reform, one of President Trump’s key legislative agenda items, is moving closer to fruition. Based on the outline of his proposed tax reform package, which he unveiled on September 27, 2017, we’ve compiled this brief overview of the President’s major tax proposals:

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Impacted by the Equifax Hack? Take These Steps Now!

September 14, 2017

If you were a victim of the recently announced Equifax hack, you need to take action to mitigate any negative impact it may have on your finances and credit. If you’re not sure if you were affected, you can use Equifax’s Potential Impact tool to find out. You will need to input your last name and the last six digits of your social security number to use this tool.

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Tips for Maximizing the Value of Your Next Staff Retreat

August 30, 2017

Staff retreats can offer companies a lot of value. They can also be expensive and, unless managed effectively, not particularly productive. Before you plan your next (or first) staff retreat, review the following key factors to help you make the most of...

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Free Money-Saving Apps for Every College Student

August 15, 2017

There likely aren’t many college students who don’t have a smart phone loaded with helpful apps. However, it is unlikely that any of these apps are dedicated to helping them build their financial fortitude. This is why we created our list below—chock-full of apps designed to make it easier for college students of any age to save money.

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Expert Advice to Keep Your Internet-Enabled Devices Safe from Cyber Criminals

August 1, 2017

Did you know that your webcam and even your home or office internet router can be the gateway through which cyber criminals gain access to your most sensitive data? If not, don’t panic—we have helpful tips below from the experts at the National Cyber Security Alliance to ensure that you head off this type of malicious action.

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Be Alert and Aware: Tax Scammers Don’t Take a Summer Vacation

July 13, 2017

The IRS has identified several new variations of standard tax scams involving fake tax bills and demands for payments. Many of these scams involve purchasing and transferring information using a gift card or iTunes card. Other scams to be aware of include:

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Tips for Implementing a Successful Flex-time Schedule this Summer

June 29, 2017

Now that summer/vacation season is here, your business may be enjoying a more relaxed vibe with employees taking time off or leaving early. If you’ve ever thought about implementing a flexible work program, now may be the time to pilot one, especially if your business is a bit slower this time of year. To help, we offer the following tips...

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Four Money-Saving Mid-Year Financial Planning Tips

June 15, 2017

It’s almost exactly the mid-point of the year, which makes it prime time for a mid-year financial review. If you need some monetary motivation for evaluating your financial progress so far this year, you may want to think of mid-year planning as a series of potential money-saving opportunities, for example:

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How to Protect Your Business from the Next “Wanna Cry” Attack

June 1, 2017

The recent “Wanna Cry” ransomware attack that paralyzed several large organizations in the U.S. and Europe is a solemn reminder that the risk of cyber security breaches is real. Every business owner should take steps...

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Tips to Help You Stem the Flow of Potential Risks This Flood Season

May 16, 2017

Whether from heavy rains or hurricanes, this time of year can bring with it the risk of floods across many parts of the United States. While you may not be able to predict the likelihood of a flood in your area, with these tips you can help to mitigate physical and financial damage if a flood occurs where you live.

  1. Treat structural damage seriously. In any...

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How to Really “Clean Up” at Your Next Yard Sale

May 4, 2017

This time of year is when you often see yard sale signs popping up. For some, holding a yard sale is a means of clearing out unwanted items. For others, it’s an opportunity to get some great “finds.” Whichever side of the yard sale fence you’re on, these tips can help you “clean up”:

Choose your timing carefully. Research continues...

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Take Your Spring Cleaning to the Office with These Tips

April 19, 2017

Window washing, carpet cleaning, garden grooming—these are all popular spring cleaning chores for homeowners. However, with year-end and tax season behind you, this time of year is also perfect for spring cleaning at the office. These tips will help you and your staff get—and keep—that “just cleaned my office” feeling:

Start with a clean sweep of...

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These Tax Day Treats Shine Light at the End of the “Tax Season Tunnel”

April 3, 2017

With just a few weeks to go until Tax Day on April 18, it’s time to make sure that you’re on track to get your individual return filed. If you haven’t already engaged our firm to help you with your taxes and you need assistance, don’t delay…it’s time to let us know!

While tax season can be stressful, Tax Day itself can be quite rewarding if you...

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Do You Sit All Day? Take a Stand Against a Sedentary Lifestyle

March 20, 2017

The average American sits a lot. Many of us sit while we work, while we relax and while we learn. Over the long term, this sedentary way of life can have a negative impact on our health, increasing the risk of diabetes, heart disease and cancer—in addition to shortening life spans. To counteract these negative effects, it’s important to get up, get active and get...

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Set the Stage to Help Your Home Sell This Spring

March 1, 2017

Spring is in the air...which means peak home-selling season isn’t far away. In fact, according to recent market data, 60 percent of all home sales in the United States will occur in the spring and summer months. If you’re thinking about putting your home on the market, now is the time to get prepared—which includes considering how you will “stage” your home to...

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Avoid March Madness—Why You Should File Your Taxes Now

February 17, 2017

For sports fans, this time of year is an exciting one. First the Super Bowl, and then the buildup toward the NCAA March Madness tournament. While tax season isn’t quite as exciting as these events, you’ll still want to make the effort to get ahead of the game—and the April 18 deadline—to score the benefits of early filing.

Avoiding identity...

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Small Businesses Can Restart Health Reimbursement Accounts in 2017

February 1, 2017

Although the fate of the Affordable Care Act (aka Obamacare) is not yet clear, thanks to the passing of the 21st Century Cures Act at the end of 2016, employers with fewer than 50 employees can now start funding stand-alone health reimbursement accounts (HRAs) again. Employees can use HRAs to pay for medical expenses, including health insurance coverage on the Obamacare health insurance...

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Tips to Defend Your Business from Cyber Attacks

January 17, 2017

You need only tune into the news to see that cybercrimes are a very real threat. From viruses to malware, everyday computer use and online browsing can leave you vulnerable to hackers who want your valuable information. If you have a small business, your risk of a cyberattack is likely even higher, especially if you do not have the resources or know-how to enact effective security policies....

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Break Barriers in 2017 with These Mind-Changing Mini Resolutions

December 28, 2016

There’s a reason why the regular New Year’s resolutions like losing weight, exercising more and sticking to a budget are popular—so many of us need to do them! There’s also a common reason why so many of us fail to meet our goals in these areas: we haven’t developed the mindset to support the changes that we want to make.

Instead of setting a big,...

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Keep the Holidays Merry with These Simple Stress Relievers

December 14, 2016

The holiday season can be wonderful, but they can also be one of the most stressful times of the year. Fortunately, the experts at Psychology Today also offer these simple stress relievers to put the joy back in this special time of year:

  1. Take a time-out. Time-outs aren’t just for toddlers who have a tantrum. In fact, rather than being a...

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Obama’s New Overtime Pay Rule is On Pause—What Does it Mean for Your Business?

November 30, 2016

Just days before it was scheduled to be implemented on December 1, a federal judge in Texas has blocked the implementation of the new Department of Labor (DOL) federal overtime rule, which would have doubled the Fair Labor Standards Act’s (FLSA’s) salary threshold for exemption from overtime pay. According to an NPR report, this extension of overtime eligibility would have...

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Take Note of New Business Tax Deadlines in 2017

November 15, 2016

As a result of the highway funding extension bill signed into law by President Obama in 2015, there are important changes coming in 2017 to deadlines for business tax filings including:

  1. W-2 and 1099 filings are due January 31 in 2017 instead of March 31. These forms are still due employees and contractors by January 31, so it’s important to prepare and...

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Our New Website!

Rosenberg & Company, P.C. is excited to announce the recent launch of our firm’s new website. We’ve been working very hard to enhance our website and give our firm a fresh look. We’ve also continued to research and identify the latest and greatest technologies to improve the services we provide and ensure we continue to meet your needs.

Take a moment to look...

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Estate Planning 101

Mark Rosenberg

July 29, 2016

First off, everyone needs a will. If you want to control who will inherit your assets, you need a will and possibly a revocable living trust. Without at least a will in place, the laws of your state will dictate who will inherit those assets that are not transferred by other means, such as beneficiary designations.

Beneficiary designations trump a...

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Tax Benefits Of Home Ownership

Mark Rosenberg

July 28, 2016

Your home may well be the best tax shelter you could possibly own. In addition to current income tax savings while you own your home, any gain you realize as the result of an increase in the value of your home will most likely be excluded from taxes. For those of you who are considering the purchase of a home, it might be helpful to know some of the tax-related benefits of home...

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Missing Money

Mark Rosenberg

July 28, 2016

Where to find missing money.

Whatever happened to your old savings account? Or that rental security deposit? Your state may be holding the funds for you. State laws generally require businesses and financial institutions to turn over cash and property to the state after there has been no activity on the account or contact with the owner for a number of years. You can...

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Terms On A Tax Return

Mark Rosenberg

July 26, 2016

AGI
AGI, or adjusted gross income, is your gross income minus certain adjustments to your income, such as your deductible IRA contributions, moving expenses, and alimony you paid. Your AGI, or a modified version of it, affects your eligibility for and the value of some tax credits, deductions, and exemptions.

Tax credits and deductions
Tax...

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Your Tax Refund

Mark Rosenberg

July 25, 2016

The fastest way to get your refund. According to the IRS, there are two things you can do to speed up access to your refund: file your tax return electronically and have your refund directly deposited into your financial account. Refunds are usually issued within three weeks if you use these methods in contrast to six to eight weeks if you file a paper tax...

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Investment Advice For People Over 40

Mark Rosenberg

July 24, 2016

1. The appropriate asset allocation for you at age 40. How you divide your portfolio among stocks, bonds, and cash investments can have a big impact on your returns—and the asset allocation percentages you chose years ago may no longer be right for you as your investment time frame shortens or your financial goals change. Your financial advisor can help you determine an...

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5 Tips On Paying For College

Mark Rosenberg

July 22, 2016

1. Saving may cost less than borrowing. Think of an amount that your child may need to attend college. If you save or invest for it, the potential returns on your savings or investments may add up over time so that you may not need to contribute as much money yourself to reach your goal. If you borrow the full amount, you will need to repay it in full plus interest. Please note: All investing...

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Thoughts On Fraud And Identity Theft

Mark Rosenberg

July 21, 2016

1. What to do if your credit, ATM, or debit card is lost, stolen, or used fraudulently. If you lose a card or if you notice a fraudulent charge on your statement, call your card issuer immediately to let them know. The Federal Trade Commission recommends that you also write a letter to the card issuer to confirm when you reported the problem by phone. Send your letter by certified mail...

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How Much Money You May Need To Retire.

Mark Rosenberg

July 20, 2016

Although you may not retire for another twenty or thirty years, estimating how much money you may need to support the retirement you envision can help you determine how much you may need to save each month. While we have calculators on our site that can provide rough numbers, the better approach is to consult your financial advisor, who can review your financial situation and goals, help...

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How Much You May Get From Social Security.

Mark Rosenberg

July 19, 2016

To learn how much you may receive in benefits when you retire, take a look at your Social Security Statement. You can review it at any time by creating a “my Social Security account” on the Social Security Administration’s website, www.ssa.gov. If you prefer not to create an account, the Social Security Administration will...

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3 Tips About Credit

Mark Rosenberg

July 18, 2016

1. Why your credit reports matter. The information in your credit reports, such as your payment history, how much you owe, and how long you have used credit, is used to calculate your credit score, a gauge that lenders use to judge whether you are a good credit risk. A higher credit score improves your chances of qualifying for credit and may result in a better interest rate.

2. How...

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4 Insurance Tips

Mark Rosenberg

July 16, 2016

1. Figure out whether you need life insurance. Not everyone does. You may not need it if you do not have a spouse or young children or if you have saved enough to provide for your loved ones. But if you have people who depend on you financially and who would struggle without your income, life insurance can be a good solution.

2. Understand how long your disability insurance will pay...

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Military Tax Breaks

Mark Rosenberg

July 15, 2016

There are special tax breaks for those serving in the Armed Forces. For example, some types of pay are not taxable. Certain rules apply to deductions or credits that you may be able to claim that can lower your tax. In some cases, you may get more time to file your tax return. You may also get more time to pay your income tax. Here are some tips to keep in...

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IRS Notices Or Letters

Mark Rosenberg

July 14, 2016

The IRS normally sends correspondence in the mail. They mail millions of letters to taxpayers every year. Keep these important points in mind if you get a letter or notice:

  • Don’t Ignore It.  You can respond to most IRS notices quickly and easily.
  • Follow Instructions.  Read the notice carefully. It will tell...

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Owe Taxes? These Tips Can Help

Mark Rosenberg

July 9, 2016

The IRS offers many safe and easy ways to pay your taxes. These tips explain many of them:

  • Mailed tax bills. The IRS sends bills in the U. S. mail. Try to pay soon and in full to avoid any extra charges. If you can’t pay in full, you’ll save if you pay as much as you can. The more you can pay the less interest and penalties you will owe for...

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What Is A Dividend?

Mark Rosenberg

July 8, 2016

Many companies pay dividends to their shareholders on a regular basis. Here’s an introduction to this potential source of investment income.

WHAT IS A DIVIDEND?

A dividend is a distribution (usually in cash, occasionally in stock) made by a corporation to its shareholders. Not all corporations pay dividends. Those that do tend to be mature companies that believe they can...

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THE INDIVIDUAL 401(k): BIG BENEFITS FOR THE SMALLEST BUSINESSES

Mark Rosenberg

July 7, 2016

Let’s say you are over age 50, receive $100,000 in compensation from your corporation, and want to contribute the most you can to your retirement account.

INDIVIDUAL 401(k): $49,000

You can make a salary-deferral contribu- tion of $24,000 (the maximum amount for someone age 50 or older). Plus, you can make a profit-sharing contribution of $25,000 (25% of your...

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Keep in Mind the Child and Dependent Care Credit this Summer

Mark Rosenberg

July 5, 2016

Day camps are common during the summer months. Many parents enroll their children in a day camp or pay for day care so they can work or look for work. If this applies to you, your costs may qualify for a federal tax credit. Here are 10 things to know about the Child and Dependent Care Credit:

1. Care for Qualifying Persons.  Your expenses must be for...

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Happy July 4th

Mark Rosenberg

July 4, 2016

We just wanted to wish everyone a happy Independence Day. We are so proud to be working and living in a country where we have so much freedom. Have a great

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The Tax Implications Of Hiring A Child

Mark Rosenberg

July 2, 2016

If you own a business, hiring your child for the summer may provide him or her with a great work experience and your family with a few tax breaks.

1. You can deduct the wages that you pay your child as a business expense.

2. Your child may not have to pay income tax if his or her annual income is less than the standard deduction amount, which is $6,300 for 2016.

3....

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Sales Tax Audits

Mark Rosenberg

July 1, 2016

If your company has not had the unpleasurable experience of a state sales tax audit within the last two or three years, it may be time to batten down the hatches!

Across the nation, state sales tax audits have increased significantly over the last few years and that trend is likely to accelerate. The reason is simple – sales tax audits are proven revenue generators for the...

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Abating Tax Penalties

Mark Rosenberg

June 30, 2016

At some point in almost everyone’s life, it seems, we will receive greetings from the IRS which includes a penalty. The penalty could result from filing or paying your taxes late or misstating your income or deductions on your return.  Penalties can range from just a few dollars to quite a substantial sum if the error is considered grossly negligent or even fraudulent.

What...

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Four Legal Documents That Everyone Should Have

Mark Rosenberg

June 25, 2016

Last will and testament.

A will is a key part of every estate plan. In it, you name the beneficiaries that you want to receive your assets after your death. Your beneficiaries might include family, friends, and charities. You also name a guardian for your young children on the chance that you and the other parent die while the children are young. And you name someone...

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Invest Internationally

Mark Rosenberg

June 24, 2016

AMERICAN DEPOSITARY RECEIPTS

Want to own a piece of Toyota (or other foreign-based company)? It’s easier than you may think. Many foreign-based companies trade on U.S. exchanges. But instead of shares of stock being traded, it is typically American Depositary Receipts (ADRs). Each ADR represents ownership of a specific number of underlying shares in the foreign company. The...

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Interest Rates Remain the Same for the Third Quarter of 2016

Mark Rosenberg

June 21, 2016

The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning July 1, 2016.  The rates will be:

  • four (4) percent for overpayments [three (3) percent in the case of a corporation];
  • four (4) percent for underpayments;
  • six (6) percent for large corporate underpayments; and
  • 1 and one-half (1.5)...

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