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Proactive tax planning is a year-round endeavor, but the year’s end presents business owners with opportunities to maximize their tax savings. Here are a few key strategies to consider before ringing in 2022.  Fill Up Your Retirement Funds It’s essential to save as much as you can for retirement in tax-advantaged accounts like 401(k)s or IRAs.  Apart from setting yourself...

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Small business owners have various options for retirement savings. Those options can sometimes be challenging to navigate or leave you with unanswered questions. When is the right time to start a 401(k) plan? Should you stick to SEP IRAs?  Is your business ready for a more structured and sophisticated retirement plan?  Here is how to tell which option is right...

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On top of saving for your retirement and other goals, business owners also have to take the lead in saving for their kid’s education. How can business owners save for college smarter? ...

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All businesses undergo transition, and being more prepared to handle that transition will only pave the way for future success. How can you build a succession plan that will benefit you and your business?...

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Major help for the hospitality industry is finally within sight, even though that assistance will be too late for some, many will receive the funding they have been hoping for. Over a year after the pandemic began decimating restaurants across the country — shuttering thousands of venues, putting millions out of work, the U.S. government will finally start disbursing targeted aid...

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Monday, February 22nd President Biden announced changes to the Small Business Association (SBA) coronavirus relief program that established a 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees from February 24th to March 9th 2021 (while open to all other eligible entities beginning March 10th through May 31st (Recent Update – was March 31st)). While...

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Making the S-corp election could help you save a lot of money that would otherwise be lost to taxes. Is an S-Corp election right for you?...

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What should I do in preparation for the outcome of the election? This seems to be the most common question we are getting these days and worries many Americans as we approach election day. The anxiety that Americans feel has varying degrees and rationales, but the overall theme is – uneasiness. Regardless of who you’re voting for or who ultimately...

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This month’s Financial Planning “Todd Talk” continued with its virtual theme, via Zoom. Our topic was geared towards next month’s presidential election as Todd, joined by Whisman Giordano & Associates President, and Managing Partner, Joseph Giordano, CPA, CGMA, and Director/Tax Department Chair, Lisa DeRose, CPA, CGMA, came together to discuss some of the potential tax implications in the year 2021...

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Self-employed Delawareans – do you know when your 2020 quarterly estimated taxes are due? This year has been quite odd as it’s June 12 and we haven’t filed taxes yet. As we dive further into 2020 the question is, what does this mean for those who make quarterly estimated payments? As COVID-19 has pushed back the 2019 tax filing deadline...

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