Investors should consider the advantages and potential risks before investing in money market mutual funds. If you’re looking for a place to park money temporarily or if you’re simply trying to maintain a cash cushion, a money market mutual fund may be an investment to consider.1 Money market mutual funds typically invest in high-quality, short-term […]
Storing Your Tax Records
Once you’ve filed your tax return, you may be tempted to clean house and get rid of some of your old records that are taking up space. The guidelines that follow will help you decide which items can go and which should stay in your files.1 Income and Expenses Keep for at least three years […]
Tax Credit Opportunities
Tax deductions aren’t the only things to consider when looking for ways to reduce your tax bill. There are a number of tax credits that you may be able to claim. A tax credit reduces your tax liability dollar for dollar (and, in some instances, may be fully or partially “refundable” to the extent of […]
Tax Planning Tips for Individuals
You may not think about taxes often, but they can prove to be a large expense. That’s why it’s important to make the most of any opportunities you may have to lower your tax liability. Here’s a look at some of the factors you may want to consider in your planning. Standard Deduction or Itemizing […]
Deducting Home Office Expenses
If you’re one of the many people working from home this year, you may have questions about the home office tax deduction and whether you can qualify for it. Here’s a rundown of the rules. Employees Unfortunately, home office expenses incurred while working as an employee are not currently deductible. The reason: the Tax Cuts […]
Mentoring the Next Generation to Take Over the Family Business
Many owners of small businesses would love to see a family member take over their business. If you have children, grandchildren, nieces, or nephews that you think might be interested in running the business in the future, you can help lay the groundwork for that potential transfer of ownership in several ways. Use the following […]