The “Hidden” Advantage of HSAs
A Health Savings Account (HSA) coupled with a high-deductible health plan can be a powerful tool for funding medical expenses on a tax-advantaged basis. For 2020, individuals with self-only coverage …
Catching Up on Catch-Up Contributions
When it comes to retirement planning, many people tend to focus on two things, opening a retirement savings account and then eventually drawing funds from it. However, there are other …
Business Property Remediation – Tax Impact
If your company faces the need to “remediate” or clean up environmental contamination, the money you spend can be tax-deductible as ordinary and necessary business expenses. Unfortunately, every type of …
Is it time for a cost segregation study?
Because of the economic impact of the COVID-19 crisis, many companies may want to conserve cash and not buy much equipment this year. As a result, you may not be …
Beware of “Wash Sales” When Selling Securities
If you’re planning to sell capital assets at a loss to offset gains that have been realized during the year, it’s important to beware of the “wash sale” rule. Under …