With the end of the year coming up, there are some financial deadlines you might need to remember. See this article in Forbes by Deborah L. Jacobs for the details: http://www.forbes.com/sites/deborahljacobs/2014/10/08/eight-key-financial-deadlines-to-keep-in-mind-this-fall/ If you have a corporation with yourself as the only employee, creating the solo 401K is a great tax saving vehicle but it has to be set up by December 31 and the employee contribution made by January 15 (because it is a part of payroll and the owner is an employee.) The employer contribution doesn’t have to be made until the corporate return due date (or extension date) next year. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa
CPA Financial Musings: The Great Wage Slowdown of the 21st Century
It is a historical fact that American workers make less (after inflation and taxes) now than they did fifteen years ago. This article in the New York Times by David Leonhardt discusses the reasons and what to expect in the near future: http://www.nytimes.com/2014/10/07/upshot/the-great-wage-slowdown-of-the-21st-century.html?_r=0 My own feelings are that until small businesses are profitable enough to need that extra professional employee or two at a higher salary because talent is scarce and additional manpower is needed this wage stagnation will continue. Raising the minimum wage probably will not help since it will just be passed through to consumers or eaten by the business, which will mean they won’t hire that extra employee. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa
Burbank CPA Financial Musings: Social Security Strategies for Married Couples
If you are married and are almost to the point where you and your spouse have to decide when to start your social security benefits, you are in luck! Here are a few strategies for married couples that might fit your situation in Market Watch by Ken Moraif – take a look: http://www.marketwatch.com/story/social-security-strategies-for-married-couples-2014-09-30 These situation can possibly increase your total social security benefits if you play around with them a little. Obviously it also depends on if you need the money now or not; if you need it you should take it. For financial, accounting and tax musings, You can count on us to count for you! Email: bstonercpa@sbcglobal.net Phone: 818-317-6035 Website: www.briantstonercpa.com Android and the IPhone: Has been Featured On https://twitter.com/bstonercpa