As we begin tax season 2023, small business owners are likely looking for ways to lower their tax bills for 2022. Hopefully, you are sitting on record profits for your highly successful business. However, record profits often mean record taxes. One of the best ways to lower last year’s taxes is to fully fund a
Taxes
I’m starting to get this question more and more from do-it-yourself types hoping to save money. If computers can beat a world chess champion, they argue, why can’t they perform as good as or better than my local tax advisor? We’ll explore this issue in more detail below, but the short answer is no, artificial
Today’s Social Security column addresses questions about whether Social Security spousal benefits can only be paid for a limited time, eligibility for survivor’s benefits and how Social Security taxed wages are reported to Social Security. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc.
The Congressional Budget Office estimates the national debt will increase by $19 trillion over the next decade under current law, $3 trillion more than it projected last May. But for all the squawking in Washington over how to deal with deficits and debt, nearly all of the increases will come in spending Congress and President
Taxpayers lose quite a bit of money in flexible spending accounts (FSAs) each year while trying to save a few tax dollars. FSAs are fairly simple. Before the start of the year, an employee elects to defer part of his or her compensation into an FSA. The deferred amount is excluded from gross income for