Business Finances
[Video]Business Owners: Set Up Repeatable Monthly Bookkeeping Tasks
[Video]Business Owners: Set Up Repeatable Monthly Bookkeeping Tasks| How do you set up an accounting structure so everything is in place where you can get reports and know the health of your business? Let’s talk about some monthly repeated tasks you can do every month, every period, and every year.
Read More[Video] 5 Ways to Improve Business Accounting & Budgeting
[Video] 5 Ways to Improve Business Accounting and Budgeting| We have been talking to our business owners on ways to improve operations, legal structure, and accounting. Here are five ways you can improve the accounting or budgeting process that you have.|Fee-Only Financial Advisor, Deer Park, Chicago, Barrington, Palatine
Read More[Video] Business Owners: When Does Incorporating Make Sense – Payroll Taxes
![[Video] Business Owners: When Does Incorporating Make Sense - Payroll Taxes](https://financialdesignstudio.com/wp-content/uploads/2020/05/fee-only-financial-advisor-payroll-tax-when-to-incorporate-1024x541.png)
[Video] Business Owners: When Does Incorporating Make Sense – Payroll Taxes So you have a business. How is it set up? From a legal perspective and from a tax perspective. Let’s walk through a number of examples, real high level, letting you know the difference so that you know when you are dealing with your…
Read MoreCARES Act: New Deductions & Charitable Contributions
CARES Act: New Deductions & Charitable Contributions Qualified Charitable Contributions – NEW Above The Line Deduction Background: This new deduction is for taxpayers that are claiming the Standard Deduction and made charitable donations. In the past, you weren’t able to deduct these donations and therefore didn’t experience any benefit. Amount & Timing: Starting with…
Read MoreCARES Act: Required Minimum Distributions Waived For 2020
CARES Act: Required Minimum Distributions Waived For 2020 Required Minimum Distributions (RMDs) for 2020 are WAIVED; you do not have to take an RMD as you normally would. Background: Normally, if you’re over Age 70-½ (or Age 72 starting in 2020) you have to take a Required Minimum Distribution (RMD) from your pre-tax retirement accounts,…
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