Here are the 2020 and 2021 estate and trust tax tables. 2020 Tax Rate Taxable Income 10% 0 – 2,600 24% 2,601 – 9,450 35% 9,451 – 12,950 37% Over 12,950 2021 Tax Rate Taxable Income 10% 0 – 2,650 24% 2,651 – 9,550 35% 9,551 – 13,050 37% Over 13,050 As always, should you […]
Switching Jobs? Here’s What To Do With Your 401(k).
Suppose you’re switching jobs if you were furloughed because of the pandemic or you’re simply searching for greener pastures. If you have a 401(k) from your soon-to-be former employer, you must decide what to do with your retirement account when you leave. Here are your four options: Leave the money in your previous employer’s pension […]
What is the Right Retirement Plan for Employees?
Small businesses and self-employed individuals often tune out when conversations or articles about pension plans come up. That’s just for big business, they think, not for little guys like us. But small firms can tap into the tax breaks of pension plans more easily than they might imagine. Pension plans provide tax deductions for the […]
Retirement Savings Tips for Small Business Owners
As an owner of a small business, you’ve proven that you’re a self-starter by operating a successful private enterprise. Of equal importance is applying your skills towards saving for your future. Here are some of the most popular tax-advantaged retirement vehicles for small business owners in 2020 and some tips on saving for retirement. Options […]
Keep track of your digital assets during estate planning
An important step in estate planning is creating an inventory of your assets. Your executor, or the person you designate in your will to carry out your last wishes, uses the inventory to make sure all of your property passes to your heirs. It’s likely that some of your assets exist in digital form. Documenting […]