The Solo 401(k): a Popular Choice for Small Business Owners – Foster Financial
As a small business owner, how confident are you about your ability to live comfortably in retirement? According to a recent survey conducted by the Employee Benefit Research Institute, 76% of workers that have a 401(k) or other defined contribution (DC) plan are “confident” or “somewhat confident” about retiring comfortably. But for workers without the […]
3 Reasons Why Excel For Accounting Doesn’t Equal Success – Foster Financial
Tax Tips for the Self-Employed – Foster Financial
Oewning and operating your own small business has multiple rewards: you’re living your passion, you have flexibility in choosing your work schedule, and the only person you answer to is the one in the mirror – oh, and the IRS. Yes, the downside is that by being self-employed, you are also responsible for figuring out […]
More to Lose, More to Gain: Tax Tips for the Self-Employed – Foster Financial
Reason #1 to Start Tax Planning Now – Foster Financial
Uncle Sam recently offered America’s hardworking taxpayers a helpful “tip” to ensure that the IRS gets paid next year. Even if you were sitting around wondering, “When would be a good time to set up a system to organize my tax records?” the IRS’ answer probably won’t shock you: the time is “now.” It’s […]
Why Wait? Start Tax Planning Now – Foster Financial
Tax season seems to sneak up on us each spring, making the first few months of the year frantic as businesses attempt to scrounge for all their receipts and invoices. Taking the extra steps to start tax planning for 2019 early will ensure you’re prepared for the upcoming tax season. According to TurboTax, changes under the […]
HSA Contribution Increases for 2019 – Foster Financial
HSA Contribution Increases Have Been Announced The new contribution limits to health savings accounts (HSAs) for 2019 have been announced. The changes are small; an extra fifty dollars for self-only contributions (up to $3,500) and one hundred dollars for family contributions (up to $7,000). In related news, the deductible amounts and out-of-pocket expense limits […]
Spring Clean Your Finances – Get Your Business Organized – Foster Financial
Ahh, springtime. With the longer days and warmer weather, it’s the perfect time to clear out the cobwebs and get organized for the upcoming busy months. Spring cleaning isn’t just for your home — it can mean a refresher for your finances too. Take inventory Do you know what’s coming in and out of your […]
Online Business? How To Simplify Your Sales Tax – Foster Financial
States and countries have been involved in a push lately to collect sales tax from online sellers that are not present in their state. The Marketplace Fairness Act of 2013 allows states to require out-of-state sellers to collect sales tax (although it exempts businesses that generate less than $1 million in remote gross sales so […]