SAFE MONEY

Introducing a new service to our clients: SECURE FINANCIAL ALTERNATIVES, INC.  This company was formed in response to our clients’ needs of finding a “safe’ home for their assets, while safely reducing their tax burden. “Safe Money”, especially when discussing IRAs,...

WHAT HAPPENS WHEN I DEFAULT ON A BUSINESS LOAN?

What does it mean to default on a loan? A loan default is the failure to meet the financial obligations indicated in the loan agreement that is signed by you and your lender. Often, a loan default translates into the business owner’s inability to pay their debts...

PENSION START-UP CREDIT

This is a nonrefundable income tax credit for 50% of the administrative and retirement-education expenses for any small business (less than 100 employees) that adopts a new qualified defined benefit or defined contribution plan (including a Code Sec. 401(k) plan),...

WHAT IS A CHARITABLE ORGANIZATION?

Money or property that you donate to “qualified” charitable organizations can be included in your itemized deductions as a charitable contribution. But what is a “qualified” charity? IRS Publication 78 lists all qualified organizations....

COSMETIC SURGERY

Generally, cosmetic surgery is not a deductible medical expense. Cosmetic surgery is defined as any procedure, which is directed at improving the patient’s appearance and does not meaningfully promote the proper function of the body or prevent or treat illness...