NKSFBTax Insights
Tax-Saving Ways to Help Pay for College — Once Your Child Starts Attending
February 21, 2023
If you have a child or grandchild in college — congratulations! To help pay for the expenses, many parents and grandparents saved for years in tax-favored accounts, such as 529 plans. But there are also a number of tax breaks that you may be able to claim once your child begins attending college or post-secondary school.
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How the New Secure 2.0 Law May Affect Your Business
February 13, 2023
If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was recently signed into law. Provisions in the law will kick in over several years.
Tax-Wise Ways to Save for College
February 6, 2023
If you’re a parent or grandparent with college-bound children, you may want to save to fund future education costs. Here are several approaches to take maximum advantage of the tax-favored ways to save that may be available to you.
Secure 2.0 Law May Make You More Secure in Retirement
January 30, 2023
A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022.
Renting to a Relative? Watch Out for Tax Traps
January 23, 2023
If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences.
Choosing a Business Entity? Here Are the Pros and Cons of a C Corporation
December 27, 2022
If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major advantages and disadvantages of doing business as a C corporation.
Strategies for Investors to Cut Taxes as Year-End Approaches
December 19, 2022
The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider making some moves to make the best tax use of paper losses and actual losses from your stock market investments.