Remove Accounting Remove Certification Remove Taxes
article thumbnail

Types of Savings Accounts to Consider for Your Children

Financial Symmetry

Each of these account types has its pros and cons, which I have outlined below. Once you open this account, it functions the same way as every other bank account does for deposits and withdrawals, and you can order a debit card for your child once they get older for spending purposes.

article thumbnail

Weekend Reading For Financial Planners (March 25-26)

Nerd's Eye View

Also in industry news this week: Top Democratic Senators are urging the Treasury Department to crack down on a range of estate planning strategies for high-net-worth individuals, including GRATs and IDGTs Amid fallout from recent bank failures, both Republicans and Democrats are considering whether current FDIC insurance limits should be increased (..)

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

All the Tax Benefits You Need for Your Small Business

Harness Wealth

Tax deductions can save you thousands annually by reducing your taxable income through legitimate business expenses. Understanding these deductions is more critical than ever as tax laws evolve, presenting new opportunities for savings. Understanding this distinction is crucial for maximizing your tax benefits effectively.

Taxes 52
article thumbnail

ABLE Accounts in Wisconsin: Key Things to Know for WI Residents

Walkner Condon Financial Advisors

There are many types of accounts for individuals to employ as part of their saving and investment plan – IRAs, HSAs, FSAs, 529 plans, and more. However, there is one account that we haven’t covered before and doesn’t get a lot of attention when considering the alphabet soup of account types – an ABLE account.

article thumbnail

Weekend Reading For Financial Planners (June 8-9)

Nerd's Eye View

Also in industry news this week: Backers announced the new Texas Stock Exchange, which seeks to provide companies with a lower-cost alternative to the NYSE and Nasdaq, which, if successful, could create a more competitive landscape and potentially better execution and reduced trading costs for financial advisors and their clients The American College (..)

article thumbnail

The Hidden Cost of Cash with Will Holt, Ep #242

Financial Symmetry

Many investors have recently found solace in growing their cash reserves, whether in their checking accounts, savings accounts, or certificates of deposit (CDs). 15:10] Optimize cash flow through strategic sales while considering tax efficiency. [19:50] When is enough, enough?

article thumbnail

How Long to Keep Important Financial Records

MazumaBusinessAccounting

Remember, the IRS recommends keeping tax-related documents for at least six years. At Mazuma, our accounting experts help our clients save and organize important financial information in a secure online portal so the information never gets lost and is easily accessible. This will be helpful if you claim a loss or a bad debt deduction.