What Are the New Employer Tax Credits?

Submitted by John Cooney on Jun 15, 2020

There is no question about the devastating impact the coronavirus has had on individuals and businesses.  On the business side, there is some relief out there for employers who qualify.  In this article, we will discuss two new credits, the Employee Retention Credit and the Leave Credits.  We will discuss what they are, who qualifies, how to claim the credits, and what amounts are available to take a

Taxes

Claiming Your Reserve Expenses On Your Tax Return

Submitted by John Cooney on May 29, 2020

While for many of our National Guard and Reserve servicemembers, traveling to monthly Battle Assemblies right now is not an option, we do hope that in the near future we will be back to meeting together, in-person, as a unit.  When the stop order movement is lifted, it is important that all servicemembers are aware of the tax rules around being able to deduct your out of pocket expenses for travellin

military, military finance, Taxes

Know Your Tax Credits - The Lifetime Learning Credit

Submitted by John Cooney on Feb 4, 2020
As we move towards April 15th’s tax filing deadline, I wanted to spend a few blogs on explaining some of the more popular tax credits that may be available to you. Last month we talked about the American Opportunity Tax Credit (AOTC) and this month we will discuss another Education Tax Credit, the Lifetime Learning Credit (LLC).
Taxes, Tax Planning, Education, Enrolled Agent

Know Your Tax Credits - The American Opportunity Tax Credit

Submitted by John Cooney on Jan 21, 2020

As we move towards April 15th’s tax filing deadline, I wanted to spend a few blogs on explaining some of the more popular tax credits that may be available to you.  Up first, the American Opportunity Tax Credit (AOTC).  The AOTC is a credit for qualified education expenses paid for an eligible student during their first four years of higher education.  The credit is calculated by factoring

Taxes, Education, Tax Planning

Are You Impacted By the Social Security Earnings Test?

Submitted by John Cooney on Jun 20, 2019

Filing for Social Security and starting to receive your benefits can be a stressful decision for people to make.  One of the rules that taxpayers need to be aware of when choosing to decide when to file for their benefit is the Earnings Test.  This article will discuss the Earnings Test and provide some examples to help illustrate how the rule works and give you an idea of whether it will impact you or not.

Social Security, retirement, Taxes

It's Military Moving Season, How Does That Impact Your Taxes?

Submitted by John Cooney on Jun 4, 2019

It’s moving season for the Department of Defense…every year about 65% of the PCS moves for the year happen between May 15th and August 31st.  Don’t let your move sneak up on you.  In this great Military.com article, they offer several tips and I will share two here; book your move early and use the move as w

military finance, military, Taxes, personal finance, fee-only financial planner

Which Clients are a Good Fit for On-Going Comprehensive Financial Planning Service?

Submitted by John Cooney on May 7, 2019

Financial planners and the services they offer continue to evolve.  In the current financial planning environment, there are three main ways a financial advisor gets paid.  They can be paid a commission on a product they sell; they can be paid a fee based on a percentage of the assets they are managing for you (referred to as Assets Under Management or AUM); or they can charge a fee for comprehensive financial planning.  This last fee can be

fee-only financial planner, retirement, Taxes, personal finance, investing
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