If you work in a business you own, you may be able to increase your take-home dollars by carefully planning how you compensate yourself. If you're like most owner-employees, you want to get the most out of your company, and that often means minimizing the amount you give to taxing authorities. As … [Read more...]
Compensating Yourself as Business Owner
Windward Passages: How the SECURE Act May Effect You
New Spending Package Includes Sweeping Retirement Plan Changes The $1.4 trillion spending package enacted on December 20, 2019, included the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which had overwhelmingly passed the House of Representatives in the spring of 2019, but … [Read more...]
Windward Tax Bulletin: Taxation of Investments
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2019 It's nice to own stocks, bonds, and other investments. Nice, that is, until it's time to fill out your federal income tax return. At that point, you may be left scratching your head. Just how do you report your … [Read more...]
Windward Passages: Charitable Gifting
What constitutes a gift to charity? A gift to charity is simply a gratuitous transfer of property to a charitable organization. The key is that your gift must be some kind of property--your time or personal services do not count. There are several different types of property that can be donated … [Read more...]
Windward Tax Bulletin: Choosing Your State of Domicile
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2019 What is it? Your domicile is the state where you maintain your legal residence. Domicile is determined by intent, rather than by the length of time you spend in a state. You may establish a state as your domicile the … [Read more...]