Categories for Blog
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2025 Projected Tax Brackets
Posted Date November 1, 2024 Posted Time 12:00 pm Published in Service2ClientAccording to estimates, inflation adjustments to the internal revenue code are expected to yield increases of 2.8 percent compared to 2024 amounts. This means wider tax brackets and increased exemptions, among other things. With the U.S. Bureau of Labor Statistics consumer price index (CPI) moderating, this increase is about 50 percent less than 2024’s inflation adjustment. Below, we’ll look at what the projected 2025 inflation adjustment means in terms of dollars and cents for you and your taxes. Individual Income Tax Brackets The tables below illustrate what the individual income tax rates and brackets are projected to be for 2025.... View Article
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Cash Conversion Cycle (CCC) Defined
Posted Date November 1, 2024 Posted Time 12:00 pm Published in Service2ClientThis metric, which is also referred to as the cash cycle or the net operating cycle, looks at the time a business takes to recover its investment in inventory to eventually sell. The process starts from selling its goods, collecting on outstanding receivables or invoices, and satisfying its operating costs with the sale proceeds. It’s normally measured in days to determine the company’s financial health. The less time necessary to complete the CCC, the healthier a company is financially because it means the business’ money spends less time tied up in inventory or collecting on outstanding inventory. It’s important to... View Article
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Pre-Retirement Planning Guide – Legacy Planning
Posted Date November 1, 2024 Posted Time 12:00 pm Published in Service2ClientStep 6: Looking to Legacy Planning to Address Future Needs of Family How do you want to be remembered? People often view their legacy as a way of disseminating assets to charitable venues to be remembered as passionate and generous supporters. That is one aspect of a legacy. But perhaps the most important legacy plan is how you want to be remembered by your family, friends and loved ones. If you do not develop an estate plan and communicate it with your loved ones, if you leave your financial accounts and investments in a state of disarray by not keeping... View Article
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5 Tips to Keep End-of-Year Spending Under Control
Posted Date November 1, 2024 Posted Time 12:00 pm Published in Service2ClientIt’s that time of year again. Halloween has just come and gone – and now we’re hurtling headlong into Thanksgiving and Christmas. For holiday shopping, it’s tempting to turn a blind eye and put everything on your credit cards. However, if you don’t want to have a financial hangover in January, February (and so on), you might want to take a look at these tips. Create a Budget and Stick To It The earlier you sit down and do this, the better. Decide on a financial cap per gift per person, then shop. Then, get creative. For instance, what if... View Article
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Social Media Marketing: A Game-Changer for Business Growth
Posted Date November 1, 2024 Posted Time 12:00 pm Published in Service2ClientSocial media has evolved from a simple networking platform to a powerful business tool. Businesses today use these platforms with billions of active users worldwide to connect with their target audience. Social media allows businesses of all sizes to reach audiences in a way that traditional advertising, such as print or television, cannot. The Role of Social Media Marketing in Business Growth Social media marketing uses social media platforms such as Facebook, LinkedIn, Instagram and TikTok to promote a business’ products or services. This is done through sharing content like posts, videos and ads to engage a targeted audience and... View Article
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Protections for Election Candidates and the Electoral Process; Improving Programs for Veterans and American Indians
Posted Date November 1, 2024 Posted Time 12:00 pm Published in Service2ClientEnhanced Presidential Security Act of 2024 (HR 9106) – During an election year, the Department of Homeland Security identifies major presidential and vice-presidential candidates in consultation with a committee of congressional leaders. This bipartisan bill instructs the U.S. Secret Service to use the same criteria for establishing the level of protection for major candidates as provided for presidents and vice presidents. The bill was introduced by Rep. Michael Lawler (R-NY) on July 23. It passed in the House on Sept. 20, in the Senate on Sept. 24, and was signed into law by the president on Oct. 1. COCOA Act... View Article
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The New Era of “No Tax” Policies: Selective Tax Exemptions and Their Side Effects
Posted Date October 1, 2024 Posted Time 12:00 pm Published in Service2ClientFormer President and current candidate Donald Trump introduced a new policy of his in a recent Arizona rally: No more income tax on overtime pay. This follows both Trump and Vice President Harris’ proposal for a no income tax on tips policy, as well. Below we will look at the two recent proposals and what they could mean for both taxpayers and businesses. No Tax on Tips The no tax on tips policy looks to lighten the tax burden on service industry workers. According to the Fair Labor and Standards Act, anyone who “customarily and regularly” receives $30 or more... View Article
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How to Measure the Quality of Accounts Receivable
Posted Date October 1, 2024 Posted Time 12:00 pm Published in Service2ClientAnalyzing a company’s Accounts Receivables is an effective way to measure its current cash flows and the likelihood of maintaining healthy cash flows. According to the U.S. Chamber of Commerce’s Small Business Index (Third Quarter 2024), 68 percent of small business owners reported being content with their third quarter cash flow performance. This illustrates the importance for small business owners to do everything possible to maintain healthy cash flows, including evaluating the quality of accounts receivables (A/R). Defining Accounts Receivables This account or line item on the balance sheet gives the business’ managers/owners and investors a measure on how much... View Article
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Pre-Retirement Planning Guide Estate Plan
Posted Date October 1, 2024 Posted Time 12:00 pm Published in Service2ClientStep 5: Estate Plan The value of an estate plan is twofold. Yes, you want to pass your assets on to heirs in a seamless and tax-efficient manner. But it is also a roadmap to help your heirs understand the full breadth of your assets, where they are located, and how they should be disseminated according to your wishes. Two important components of your estate plan come into play before you pass away. The first is a Power of Attorney. This document appoints someone you trust – a relative, a friend or a custodial like a bank – to handle... View Article
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6 Things to Know to About Annuities
Posted Date October 1, 2024 Posted Time 12:00 pm Published in Service2ClientAnnuities are one of many products that folks have in their nest egg. But first, what exactly is an annuity? Simply put, it’s a contract with an insurance company that promises to pay the buyer a steady stream of income in the future. It can be either a fixed or variable income stream. The term “annuity” can also refer to a sum of money payable yearly or at other regular intervals. There are some things to know before you charge headlong into putting your assets into an annuity. So, here are a few watch outs to consider before you head in that... View Article
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