What Are the Benefits of a Trust in Retirement and Estate Planning
In this article, we will discuss what trusts are, some of the various types of trusts you can use, and how trusts can save you money on estate taxes. If you want to take full advantage of what a trust can do for you and your heirs, it’s important to partner with a trusted advisor […] Read More
What is Financial Modeling
Financial modeling estimates the future financial performance of a business. It combines accounting, finance, and business metrics that come together to form the estimate. Relevant factors, such as growth and risk assumption, as well as their impact, allow business owners to gain valuable knowledge of all financial forecasting variables. Financial models are, essentially, a long […] Read More
What Happens to Your Tax Liability With Proper Financial Planning?
Proper financial planning reduces tax liability, making it less of a burden in achieving your short and long-term financial goals. Without it, you could face major tax implications. From maximizing your tax deductions to minimizing your tax liability, TPI can devise appropriate tax strategies for your current situation, as well as to help plan for […] Read More
Financial Planning for Small Businesses: Do I Need a CPA?
“CPA” stands for Certified Public Accountants, and CPAs are high-level accountants with a great deal of training and expertise. They are certified by the state and required to stay up to date with the latest tax laws in order to keep their license. A CPA must pass the Uniform CPA Exam, which lasts several days […] Read More
Why Is Tax Planning Necessary?
Tax Planning is finding out how much tax you will be paying before you file. The purpose of planning taxes is to minimize your tax liabilities or the amount you owe the IRS. There are several approaches to tax planning, some of which can be done through the use of allowances, exclusions, exemptions, and deductions. […] Read More
Black and White: Tax Evasion Versus Tax Planning
It seems surprising, at times, that many people confuse the terms “tax evasion” and “tax planning.” There is a world of difference between them. One is an illegal activity with potentially serious penalties (tax evasion) and the other an activity government itself, and tax authorities, take for granted (tax planning). One source of confusion might […] Read More
Do You Know if Your Company’s Meals Are Taxable?
As the 2018 tax deadline looms, many independent contractors and small businesses are working to get their taxes filed on time. One item that small business owners encounter is deciding when employer-provided meals are taxable. The meal and entertainment deduction rules for taxes can be hard to figure out. Understanding the guidelines is crucial for […] Read More
Top 5 Tips to Save Money During this Year’s Holiday Season
Thanksgiving is almost upon us, which means the holiday festivities are right around the corner. For many people, that means holiday and bargain shopping is next on their priority list—especially during Black Friday, one of the most important retail events in the United States after Thanksgiving. But, how is one able to budget your finances […] Read More
Do You Know the Difference Between A Will and A Trust?
Estate planning takes away some of the stress and worries your family will have after you have passed. All the right assets will be distributed to the appropriate beneficiaries, the courts will not have to intervene and prolong the process, and any questions regarding funeral arrangements and other details will already be answered. The […] Read More
Top 4 Reasons High-Income Individuals Donate During Their Life
According to USA Today, 2017 saw the first-time wave of charitable giving that resulted in more than $400 billion to various organizations. The biggest difference was donations to foundations, which was the largest increase that reached 15.5%. High-income individuals are currently keeping the donation levels elevated and stable. The Urban Institute in Washington D.C. […] Read More
Your Home May Not be a Good Invesment
Is Buying a Home A Good Financial Investment? Do you consider your home as a place to live or as an investment asset? Some people we speak with about financial and tax planning tell us they intend to purchase a larger home as an investment. If you think this way, you are not alone. A […] Read More