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  • New Proposed Tax Laws

    Posted Date October 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readThe House recently released a nearly 900-page proposed bill that would make major changes to current tax laws. The bill is intended in large part to help pay for both the Biden Administration’s budget and infrastructure stimulus bill. It’s important to keep in mind that the provisions and changes outlined below are by no means settled. Changes can (and likely will) still be made as the Senate ratifies the bill; however, the remainder of this article should give readers a good idea of the most significant provisions. Income Tax Rates are Rising The increase in the... View Article

  • 7 Ways to Save for a Home Down Payment

    Posted Date October 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readSo you want to save for a down payment for your dream house, but you aren’t sure how to get there. It might even feel overwhelming. But take heart, here are some tried and true methods that you can start today that will help you save sooner than you think. Save a Fixed Amount Monthly This is super easy, but first you need to figure out how much of a down payment you want to make. Remember, the higher your down payment, the lower your loan and monthly mortgage payment will be. With that said, put... View Article

  • Strategies for Paying Off Student Loans

    Posted Date October 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readToday, 70 percent of college students graduate with an average of $30,000 in student loan debt. The average payment is nearly $400 a month and will take about 20 years to pay off. On an individual level, paying off high debt can delay hopes of saving to buy a house, start a family, launch a business or invest for retirement. On a broader level, the national burden of student debt could impact America’s economic future. When young adults are unable to afford home ownership, that reduces spending on all types of consumer products that accompany home... View Article

  • Enhancing Agency Budget Transparency, Opportunities to Study Science and Environmental Protections

    Posted Date October 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readCongressional Budget Justification Transparency Act of 2021 (S 272) – This bill mandates that federal agencies must make budget justification materials publicly available online. The Office of Management and Budget will be required to publish details regarding the agencies that submit budget justification materials to Congress and dates the materials are posted online, along with links to the materials. The bill was introduced by Sen. Gary Peters (D-MI) on Feb. 8, passed in the Senate and the House on Aug. 23 and is awaiting enactment by the president. National Science Foundation for the Future Act (HR... View Article

  • Mistakes to Avoid When Implementing Business Accounting Technology

    Posted Date October 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readChoosing to implement new technology for your accounting needs is a big step toward improving your business. Accounting technology helps streamline the accounting system, thereby offering various benefits. However, poor implementation can impact your business negatively. To make your implementation a success, there are several mistakes that you must avoid. Importance of New Accounting Technology  Before looking at the potential mistakes, it is important to understand why businesses implement new technologies. Technology advancement has played a great role in various life and business aspects. In businesses accounting, technology such as computerized systems help easily track and record... View Article

  • Tax Breaks for Helping Relatives

    Posted Date September 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readIt’s not uncommon for adult children or siblings to act as caregivers for family members or give them financial assistance for medical or long-term care needs. The problem is that all too often those providing the help don’t take advantage of the tax benefits. Types of Care Caregiving happens through many different avenues. For example, family members might pay for services that their elderly parents need, such as housekeeping, meal preparation, or nursing care. Outside the home, they may pay for all or a portion of the cost of an assisted living facility. In other circumstances,... View Article

  • How to Catch Up on Your Retirement

    Posted Date September 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readIf you’re 40 or 50 and aren’t where you’d like to be in terms of saving for retirement, don’t despair. You can remedy this situation. And since people are living well into their 80s and 90s, it’s never too late to start. Here are a few things you can do. Max Out Your 401(k) This could be a game-changer. Stuart Ritter, a certified financial planner with T. Rowe Price, recommends that you save at least 15 percent of your income for retirement, including the amount your employer matches. If your company is contributing 3 percent, then... View Article

  • What is a Net Zero Economy?

    Posted Date September 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min read President Biden re-entered the United States in the Paris Agreement. This is an international treaty first signed in 2015 in which countries around the globe committed to mitigating climate change. Specifically, the goal of the Paris Accord is to limit global warming to no more than 1.5 degrees Celsius above pre-industrial levels. This objective would generate what is called a net zero global economy, which means creating a balance between the amount of greenhouse gases produced and the amount of greenhouse gasses removed from the atmosphere. The main engine that places carbon back into the... View Article

  • Fiscal Year Funding Plus Legislative Support for Health Care Professionals and Physical Activity for All Americans

    Posted Date September 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readA bill to provide for the publication by the Secretary of Health and Human Services of physical activity recommendations for Americans (S 1301) – This bill authorizes the Secretary of Health and Human Services to publish guidelines of recommended physical activity for Americans. The bill was introduced by Sen. Sherrod Brown (D-OH) on April 22, passed in the Senate on July 30 and is under consideration in the House. Dr. Lorna Breen Health Care Provider Protection Act (S 610) – This bill was introduced by Sen. Tim Kaine (D-VA) on March 4. The purpose of this... View Article

  • Is Your Business Ready to Outsource Accounting?

    Posted Date September 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readAccurate and timely accounting is critical for any business’ survival. At the same time, it’s important for entrepreneurs to pour their energy into core business activities and not waste time on day-to-day bookkeeping. Unfortunately, the cost of setting up a full-time accounting department is prohibitive for small and mid-sized businesses. Thankfully, there is an option to outsource functions such as bookkeeping, payroll, tax services, financing, budgeting, chief finance officer services, and more to a third party. In this article, we discuss how to know if you are ready to outsource, the benefits, and how to choose... View Article

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