by Todd Schanel, CFA, CPA, CFP® | Jul 18, 2024 | Tax Advice
In this article, we will explore five essential tax concepts that serve as a foundation for effective tax planning. While incorporating these concepts into planning can require considerable time, effort, and complex calculations, the benefits are often substantial. We...
by Todd Schanel, CFA, CPA, CFP® | Dec 18, 2020 | S Corporation, Small Business, Tax Advice
Making the switch from employee to business owner requires some getting used to. One of those adjustments is understanding the difference between the income reported on a K-1 and the amount of cash distributions received. Let’s look at some of the reasons why this...
by Todd Schanel, CFA, CPA, CFP® | Mar 16, 2020 | IRS, Tax Advice
What is an Enrolled Agent? Although no formal credentials are required to work as a tax preparer in the U.S., hiring one with a professional license protects your interests. Besides the obvious choice of hiring a CPA, an Enrolled Agent, or EA, is another option....
by Todd Schanel, CFA, CPA, CFP® | Jan 24, 2020 | IRAs, Tax Advice
On Friday, December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law. The broad intent of the legislation is to make it easier for families to save more for retirement, but it also includes several unfavorable...
by Todd Schanel, CFA, CPA, CFP® | Dec 10, 2019 | Bonds, Investing
Municipal bonds are very appealing to investors because of one important attribute: municipal bond interest is exempt from federal income tax. But while tax-free income sounds great, there is a catch! The interest an investor can earn on municipal bonds is...
