Ensure your life insurance proceeds remain non-taxable

Life insurance proceeds are generally non-taxable, however, if you have a life insurance policy in place you will want to ensure that the benefits your family will receive won’t be in included in your estate after death to avoid federal estate tax. Current exemption amounts For 2021, the federal estate and gift tax exemption is […]

What to consider when purchasing a vehicle used for business

If you are in the market to purchase or replace a vehicle that you will use in your business you should consider the tax benefits before making your final decision. You may be able to benefit from certain tax rules discussed below if you choose a heavy sport utility vehicle (SUV). Bonus depreciation Under current […]

Security for employees’ retirement based on new law.

To start the new year, Congress has made considerable changes to individual retirement savings, whether it be with an IRA or other plan. With the passing of the SECURE ACT, these four changes have been made to individual retirement plans. As we head into a new year, the federal government has made beneficial legislative changes […]