Category: Podcast

Podcast: 10% Penalty on IRAs

Podcast: 10% Penalty on IRAs

IRAs and other retirement accounts are intended to help fund a person’s retirement. But sometimes, circumstances dictate the need for those funds. Taking money out of IRA’s should be the last resort, since the distribution can come with a heavy tax penalty. THE...
Podcast: Financial Statements

Podcast: Financial Statements

Last week we talked about using an accounting software package to keep track of your income and expenses of a business. This week I want to talk about how those software packages can generate reports so that a business owner can stay on top of how the business is...
Podcast: Accounting Software Packages

Podcast: Accounting Software Packages

When a business is just starting, the owner is trying to juggle a lot of different things. One of the things that can be pushed to the background is the accounting. Many times, business owners are really good at running their business, but they are not as comfortable...
Podcast: Qualified Business Income

Podcast: Qualified Business Income

Back in 2018 the corporation tax rate was decreased from 35% down to 21%. At this same time the Qualified Business Deduction or QBI was introduced. This tax deduction was meant to even the playing field between corporations who pay their own tax and businesses that...