You maybe know this already. You can probably bump your safe withdrawal rate if you delay your Social Security benefits. For example, you may be … [Read more...] about Delay Social Security Benefits to Bump Safe Withdrawal Rate
How to Inherit a Million Dollars
Over the last year, I helped several families administer a large-ish estate and disburse decent-sized inheritances. Which was fun and interesting … [Read more...] about How to Inherit a Million Dollars
Ignoring IRS 8995 Instructions to Double-deduct Self-employed Health Insurance
If you’re reading this, you already know, right? In many situations, the 199A regulations require adjustments to the qualified business income number … [Read more...] about Ignoring IRS 8995 Instructions to Double-deduct Self-employed Health Insurance
Twin Problems of Unprofitable Customers and Services
I’ve been coaching some new CPA firm owners about how to build a profitable professional services firm. And to jump to the punchline? The twin tricks … [Read more...] about Twin Problems of Unprofitable Customers and Services
Sobering Up About Qualified Opportunity Zones
You probably need to prepare for the holidays you and your family celebrate. Or maybe start work on some year-end accounting. Accordingly, I want … [Read more...] about Sobering Up About Qualified Opportunity Zones
Mattis’ Management Principles Apply to Small Businesses
So, I just read James Mattis’ new book, "Call Sign Chaos." And the former Secretary of Defense's story prompts a couple of thoughts, one short and one … [Read more...] about Mattis’ Management Principles Apply to Small Businesses
Planning for the Warren Wealth Taxes
Normally, we don’t blog about proposed tax legislation. Especially something like Elizabeth Warren’s wealth tax proposals. She hasn’t even won her … [Read more...] about Planning for the Warren Wealth Taxes
Late S Corporation Payroll Hacks
This time of the year, tax accountants confront a common problem. That problem? Well, okay, this is awkward… but somehow, no one quite knows how, … [Read more...] about Late S Corporation Payroll Hacks
Section 199A Deduction Rookie Mistakes
CPAs and taxpayers made some Section 199A mistakes in 2018. We saw that a lot in the returns people asked us to review. And in the returns that passed … [Read more...] about Section 199A Deduction Rookie Mistakes
Cancelling Life Insurance: Three Rules for Pulling Plug
A nearly $5,000 invoice from a life insurance company sits on my desk. But I haven’t paid it yet. Because I'm considering cancelling the policy. … [Read more...] about Cancelling Life Insurance: Three Rules for Pulling Plug