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tax planning

Is Your Will Up to Date?

Making a will is not fun. We know. It’s right up there with taxes on the list of things we’d rather not think about or deal with until we absolutely have to, right? But nothing in life is certain except death and taxes. We’ve all heard the saying. Why not sleep a little better at […]

Tis the Season to Be Giving!

November is when we all start thinking about charitable giving, especially if we haven’t done a lot of giving throughout the year. It’s the time of year when we all think about how to give back – how to help others in our community, our state, our world.  At this time of year, we usually […]

Managing the Tax Effects of Divorce or Separation

No one wishes for a divorce. But if it happens to you, are you prepared for the tax impacts that a divorce can have? It’s no surprise that the ripple effects of divorce reach all major areas of our lives. But most folks don’t consider how their tax situation will be impacted by divorce.  Filing […]

Tax Planning & Mutual Funds

In an effort to make your tax bill less scary than usual, this October we are focusing our blogs on tax planning. This blog specifically focuses on mutual fund tax planning. But aren’t my mutual funds investments that I shouldn’t worry about or touch?? (We can actually hear you thinking that.) The quick answer is: […]

4 Great Reasons to Take Payroll as an S-Corp Owner

As you probably know, October is tax planning month for us at Team Holly. We’ve already posted some blogs about what kinds of financial decisions might warrant a call to your CPA (so you can assess the tax impacts of your choices), and some investment tax planning strategies. So what do S-Corp payroll and tax […]

3 Times You Really Need to Call Your CPA

Every year during tax season, we have a handful of clients who get a really unpleasant surprise from Uncle Sam – a tax bill. Sometimes the surprise is moderate – maybe a few hundred bucks owed rather than a refund. Other times it’s downright painful. One client this past season had a surprise tax bill […]

Understanding the ACA Penalty

Are you one of the millions of people who did not sign up for health insurance or discontinued it after signing up in 2013 or 2014? If so, you may owe a penalty on your taxes this year. I know people who have been healthy most of their lives and have chosen not to invest […]

What to Know About ROTH IRA Conversions

You’ve probably heard friends, family, or financial advisors talk about ROTH IRA conversion strategies. “Back door” conversions are always a hot topic at tax time, too. Ever wondered what it all means? Here’s a quick 5-minute overview from our friend and financial advisor, Michael Gluski of Ameriprise, on Roth IRA Conversions. (In a later blog post, […]

Are You Ready for Retirement?

This new year, are you asking yourself when you can finally quit your day job? We’ve all dreamed of it: waking up without an alarm clock, doing anything we want to do all day long, no schedules, no meetings, no boss, just time to relax and enjoy ourselves. That’s what retirement should be. Unfortunately, more […]