1040Services

It is never too late to plan for retirement; however, the sooner planning starts, the more financially prepared you are likely to feel when the time arrives. Specialized guidance and support can help you develop a plan that delivers a secure and comfortable retirement and peace of mind during your pre-retirement years. As your CPA firm, we can:

•    Review expenses that will be, or are likely to be, incurred during
your retirement and create a plan to eliminate any shortfall
between income and expenses
 
•    Identify the primary sources of retirement income that you have or
should have and calculate the savings required for you to retire at
a specific age and achieve your desired lifestyle

•    Create strategies for preserving and growing retirement account
balances and determining distribution amounts

•    Recommend a diverse range of tax efficient financial tools — IRAs,
401(k)s, investments and tax-sheltered opportunities — that are
best suited to your age and retirement time frame
 
•    Develop a backup plan that responds to unpredictable and
unfortunate events, such as death or disability, which can
undermine even the best-laid retirement plans

2014 Tax News

 Individuals

 Businesses

 

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Tax Credits that May Reduce Your Taxes A tax credit reduces the amount of tax you must pay. A refundable tax... Read more
Insurance Deduction for Self-Employed The deduction is for medical, dental or long-term care insurance premiums... Read more
Taxpayers with Foreign Income If you are living or working outside the United States, you generally... Read more
Rental Real Estate Income If you own rental real estate, you should be aware that all rental income... Read more
Claim Your Refund Here are some things to know about unclaimed refunds: 1. Not required... Read more
Itemizing vs. Standard Deduction When you file a tax return, you usually have a choice to make: whether to... Read more
Home Office Deduction 1. If you use part of your home for your business, you may qualify to... Read more
Child and Dependent Care Tax Credit If you paid someone to care for your child, dependent or spouse last... Read more
Mortgage Debt Forgiveness If your lender cancelled or forgave your mortgage debt, you generally... Read more
Capital Gains and Losses The term “capital asset” for tax purposes applies to almost everything... Read more
Take Credit for Your Retirement Saving for your retirement can make you eligible for a tax credit worth... Read more
Unemployment Benefits If you received unemployment benefits this year, you must report the... Read more
Medical and Dental Expenses If you paid for medical or dental expenses in 2013, you may be able to... Read more
Employee Business Expenses Some employees may be able to deduct certain work-related expenses. You... Read more
Energy-Efficient Home Improvements You may be able to get some credit for qualified home energy improvements... Read more
Rules For Child’s Investment Income Parents may not realize that there are tax rules that may affect their... Read more
Education Credits The American Opportunity Credit and the Lifetime Learning Credit may... Read more
How To Get Prior Year Tax Information The IRS offers several different ways to get tax return information or a... Read more