by RWolf | Feb 21, 2020 | IRS, News, Taxes
RMD Last month, we posted information about how the SECURE Act has increased the age for required minimum distributions (RMDs) from 70-1/2 to 72 starting this year, 2020. If you turned age 70-1/2 in 2019, your RMDs were required for the 2019 tax year, and WILL BE...
by RWolf | Jan 22, 2020 | IRS, News, Retirement, Taxes
Long-established retirement account rules change. The Setting Every Community Up for Retirement Enhancement (SECURE) Act is now law. With it, comes some of the biggest changes to retirement savings law in recent years. While the new rules don’t appear to amount to a...
by RWolf | Jul 1, 2019 | Accumulation, Assets, Distribution, Taxes
There are three assets we want our clients to have: A business Cash Value Life Insurance Real Estate Why you ask??? Because these are what the IRS says are the most tax efficient. If you only have one of these then we can help you get the other two. But if you don’t...
by RWolf | Jun 17, 2019 | Books, Cash Flow, Income, Taxes
I find it unnerving how complicated the financial services industry as a whole try to make things out to be. Granted I understand each person has gifts or likes about things. I hear all the time, from my wife as well, “I don’t understand… fill in the blanks of some...
by RWolf | Jun 3, 2019 | Bookkeeping, Cash Flow, Taxes
TERRA FIRMA FINANCIAL MANAGEMENT I want to share what I have been thinking about for some time now. As a business owner you have a bookkeeper (accountant) to manage the cash in and out of your business. Financial management is so key in a business striving for...
by RWolf | May 27, 2019 | IRS, Tax Brackets, Taxes
I find it funny how there are so many times that we do things but really don’t understand why we are doing them. Let me share an experience I had to help guide what I’m talking about. I did a dinner workshop for small business owners talking about finances and how to...
