May 13, 2019
When we talk about beating the IRS legally, we aren’t trying to game the system — we just want to help our clients take advantage of every possibility.
So whenever there are changes to the tax code, tax brackets or thresholds, we study the new requirements to understand which clients would benefit the most.
Traditional IRAs give you an upfront tax deduction for your contribution, and your money grows tax-deferred.
For a Roth IRA, you contribute already taxed money and the account grows tax-free.
Individual tax cuts that came under the TCJA allows a whole new group of people to take advantage of converting traditional IRAs to Roth IRAs. The tax cuts (which expire at the end of 2025) are a boon for conversions because they not only lowered tax rates but broadened the tax brackets — big-time.
The big win — and greatest gains — from a conversion come from leaving the money untouched and growing tax-free for decades.
This is where the strategy comes in: If you think you can stomach paying now on taxes to convert to a Roth, you are producing untaxed income for your retirement or for your heirs. All future growth and withdrawals are tax-free.
BOSS is the answer to your back office headaches. Our cloud-based solution enables you to hand complex accounting tasks over to us. We work the numbers while providing you 24/7 access to your data—and all at a fixed, affordable monthly fee.
We understand that the countless number of tasks associated with running a successful practice leaves you with little time to deal with your numerous accounting and tax responsibilities. That is where ...read more
With proactive tax strategies and industry-specific expertise, we have a proven track record of helping property management firms succeed from...read more
If you contract your services as a salesperson, freelance writer, graphic designer, real estate professional, or other profession contact us to learn about the comprehensive, affordable...read more
Morgan & Associates has extensive experience in nonprofit accounting, currently providing audit and tax return services to a growing number of...read more
There are a few telltale signs that you need to fire your current CPA firm and start looking for someone new.
If you own a business and pay employees any kind of compensation, you are required to pay federal payroll taxes.
These days, we seem to have endless articles on IT security while traveling, but far fewer on physical safety. Because summer can be big travel months for many businesses, we put together the following list of tips to help keep you safe while away from home.