Are You Having to Repay Part of Your Obamacare Subsidy and Don’t Know Why?

Premium Tax Credit Explained

Almost everyone is required to be insured or pay a penalty as part of Obamacare.  Unfortunately, this created a substantial financial burden for lower-income families.  So, in order to alleviate this situation, Obamacare included a subsidy, referred to as the premium tax credit (PTC), to help them pay the cost of the insurance which is based on family size, household income in relationship to the federal poverty.

Is Solar Energy Right for You?

TV ads focusing on home solar touting free electricity as these savings and tax credits may not be all that they are advertised to be as it all depends upon your financial and tax circumstances.  Keep in mind that home solar is not necessarily the best option for everyone.  So, before you make a decision, we’d like for you to educate yourself and consider the tax and financial aspects of solar electric systems as they apply to your circumstances.

How An Accounting Pro Can Help Your Small Business Boom

Find the Right Accounting Firm to Help Support Your Small Business

One of the most positive qualities that many small business owners share is a burning desire – an insatiable willingness – to “do it all.”  It’s what separates entrepreneurs from employees in the first place.  An employee is more than willing to set out on the path that someone else has carved for them.  An entrepreneur has a need to carve a path for themselves.

How to Reduce Required Minimum Distributions (RMD) and Extend Your Retirement Benefits

Use a Qualified Longevity Annuity Contract

Are you one of the boomer generation and find that your required minimum distributions (RMDs) from qualified plans and IRAs are providing unneeded income (along with a high tax bill)?   Are you also afraid that the government’s RMD requirements will leave too little in your retirement plan for your later years?   You can use a qualified longevity annuity contract (QLAC) to reduce your RMDs and extend the life of your retirement distributions. 

How to Keep Your QuickBooks Data Safe

Great QuickBook Internal Safeguards & Tips

Keeping QuickBooks data is accurate takes time – let’s be sure it’s safe!

Your QuickBooks company file contains some of the most sensitive information on your computer such as customers’ credit card numbers and employees’ Social Security numbers.  An intruder who captured all that data could create tremendous problems for you and a lot of other people.

Who Controls the Funds in a Section 529 Plan?

Information Regarding Saving for a Child’s Future Education

This question frequently arises: Who controls the funds held in a Section 529 qualified tuition account? These accounts can become quite large, as they are limited only by the projected cost of a college education, and those costs will vary between state plans.  Some states base their maximums on the cost of an in-state, four-year education, but others use the cost of the most expensive schools in the U.S.—including graduate studies. Most have limits in excess of $200,000, and some can reach $475,000 or more.  Thus, it is only natural that those who fund an account would be concerned about who controls the account’s distributions.  This is especially true when grandparents or others are making contributions to an account that is limited only by gift-tax considerations.