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RSS Personal Finance – Retirement Planning & Wealth Management

  • Have a Plan, Not Just a Stock Portfolio April 25, 2017
    Diversification still matters. One day, this bull market will end. Provided by Dane A. Wilson, Wealth Management Advisor In the first quarter of 2017, the bull market seemed unstoppable. The Dow Jones Industrial Average soared past 20,000 and closed at all-time highs on 12 consecutive trading days. The Nasdaq Composite gained almost 10% in three […] The post
  • 2016 IRA Contributions — It’s Not Too Late! March 24, 2017
    Yes, there’s still time to make 2016 contributions to your IRA. The deadline for such contributions is April 18, 2017. If the contribution is deductible, it will lower your 2016 tax bill. But even if it isn’t, making a 2016 contribution is likely a good idea. Benefits beyond a deduction Tax-advantaged retirement plans like IRAs […] The post 2016 IRA Contribu
  • October Is National Financial Planning Month October 4, 2016
    Saving is a great start, but planning to reach your financial goals is even better. Provided by Dane A. Wilson, Wealth Management Advisor Are you saving for retirement? Great. Are you planning for retirement? That is even better. Planning for your retirement and other long-range financial goals is an essential step – one that could […] The post October Is Na
  • The Brexit Shakes Global Markets June 28, 2016
     A worldwide selloff occurs after the United Kingdom votes to leave the European Union. Provided by Dane A. Wilson, Wealth Management Advisor A wave of anxiety hit Wall Street Friday morning. Thursday night, the United Kingdom elected to become the first nation state to leave the European Union. The “Brexit” can potentially be finalized as […] The post The B
  • Don’t Neglect Your Own Financial Plan March 18, 2016
    Financial Planning Takes Work If you’re responsible for the financial health of a company, it’s easy to neglect your personal wealth management goals. Finding the time to create a personal financial plan, however, is critical. A good plan documents your current financial picture and enables you to make the best spending, saving and investing decisions […] Th
  • When Will Stocks Stabilize? January 22, 2016
    How deep will this correction ultimately be? Provided by Dane A. Wilson, Wealth Management Advisor January may prove to be the worst month for stocks in eight years. The S&P 500 just corrected for the second time in five months, and some investors think the bull market may be ending.(1,2) Bull markets do end, and […] The post When Will Stocks Stabilize?
  • Social Security Update: The End of File and Suspend November 16, 2015
    A great claiming strategy to try and optimize Social Security benefits disappears. Provided by Dane A. Wilson, Wealth Management Advisor Congress just changed the Social Security benefit rules. On October 30, Capitol Hill lawmakers approved a two-year federal budget deal. As part of that agreement, they authorized the most significant change to Social Securi
  • Protecting Yourself Against Email and Internet Fraud? January 12, 2015
    Do more to prevent fraud. Internet fraud is one of the most popular and widespread forms of cybercrime, with the Internet used increasingly to steal the identities and financial information of unsuspecting users.  Fraudsters use unsolicited email messages, as well as websites, social networks, chat rooms and message boards, in order to get access to […] The
  • Pay Professional Fees Now and Reduce Your Tax Bill September 17, 2014
    Want to Pay Fewer Taxes? At Ciuni & Panichi, Inc. our tax professionals are always looking for ways to help you reduce your tax burden.  Here is another idea you can implement today. Expenses that may qualify as miscellaneous itemized deductions are deductible for regular tax purposes only if they exceed (in aggregate) two percent of your […] The post Pa
  • Changing Jobs: What About My Old Retirement Plan? August 25, 2014
    What do you do with your old retirement plan when you change jobs?  First and foremost, don’t take a lump-sum distribution from your old employer’s retirement plan.  It generally will be taxable and, if you’re under age 59½, subject to a 10% early-withdrawal penalty. 3 Alternatives to Cashing Out Your Old Retirement Plan: 1. Stay Put: […] The post Changing J

RSS Employee Benefit Plans – Retirement and Group Insurance

  • What if You Find a Mistake in Your Retirement Plan? March 16, 2017
    How common is this? How can you try to correct it if it occurs? Provided by Dane A. Wilson, Wealth Management Advisor Your latest retirement plan account statement arrives in your email inbox. You take a look at it – and something seems amiss. “That can’t be right,” you say to yourself. There must be […] The post What if You Find a Mistake in Your Retirement
  • IRS Extends Affordable Care Act Reporting Deadlines January 12, 2016
    Welcome Relief for Employers By Jeffrey R. Spencer, CPA, Principal, Ciuni & Panichi, Inc. The Internal Revenue Service (“IRS”) has issued Notice 2016-4 which automatically extends the due dates of the new Affordable Care Act (“ACA”) reporting forms for the 2015 calendar year.  The extension applies to IRS Forms 1094/1095-B (Issuer of Minimum Essential Co
  • Now’s the Time to make Changes to your Retirement Plan August 7, 2015
    Start the Process Now By Jeffrey R. Spencer, CPA, Principal, Ciuni & Panichi, Inc. Most defined contribution retirement plans, such as 401(k), profit sharing, and money purchase plans will need to be restated by April 30, 2016 to incorporate the provisions of the Pension Protection Act of 2006 (“PPA”) and various other changes that took […] The post Now’
  • Affordable Care Act New Reporting Requirements April 10, 2015
    Action Required Now By:  Jeffrey R. Spencer, CPA, Principal, Ciuni & Panichi, Inc. The Affordable Care Act (ACA) imposes significant new reporting requirements on large employers beginning with the 2015 calendar year.  The ACA defines “large” as those employers with 50 full-time or full-time equivalent employees.  For this purpose, “full-time” is defined
  • Affordable Care Act Fee Deadline Approaching October 10, 2014
    Affordable Care Act – Action required by November 15th By Jeffrey R. Spencer, CPA, Principal, Ciuni & Panichi, Inc. The Affordable Care Act imposes a $63 fee per enrollee on insured and self-insured health plans.  Employers with self-insured health plans must report certain information to the Department of Health and Human Services by November 15, […] Th
  • FSA Plans: Employers, Have You Amended Your Plans to Allow Rollover? July 27, 2014
    Health care Flexible Spending Accounts (FSAs) allow employees to redirect pretax income to an employer-sponsored benefit plan that pays, or reimburses them for, qualified medical expenses not covered by health insurance. A maximum employee contribution limit of $2,500 went into effect in 2013. (Employers can set a lower limit, however, and there will continu
  • Flexible Spending Accounts Must Be Amended by Year-End July 5, 2014
    Update Your Flexible Spending Account Now Health care Flexible Spending Accounts (FSAs) allow employees to redirect pretax income to an employer-sponsored plan that reimburses them for qualified medical expenses not covered by their insurance.  The most an employee can contribute is $2,500.  This amount went into effect in 2013.  Employers can set a lower li
  • Affordable Care Act – Play-or-Pay? Are You Prepared? June 9, 2014
    The Affordable Care Act – Offer sufficient coverage or pay the penalty Are you a “large” employer?  Your time is running out to get prepared for the Affordable Care Act’s shared responsibility provision.  Also called the “play-or-pay” provision that is scheduled to go into effect in 2015.  Under transitional relief the IRS issued earlier this year, for […] T
  • Short-term ACA Relief Now Available for Midsize and Large Employers May 15, 2014
    Recently released IRS final regulations for the Affordable Care Act’s (ACA’s) employer shared-responsibility provision provide some short-term relief for midsize and large employers. Under the ACA, the shared-responsibility provision (commonly referred to as “play-or-pay”) applies to “large” employers — those with the equivalent of 50 or more full-time emplo
  • Retirement Planning: When to Increase Contributions May 6, 2014
    Should you Increase your Retirement Plan Contributions in 2014? It’s time to start thinking about 2014 retirement plan contributions. Contributing the maximum you’re allowed into an employer-sponsored defined contribution plan is likely a smart move. Retirement Planning: Contributing the Maximum When planning for retirement, you can reap major benefits from

RSS Tax Planning – Tax Consulting, Audits and International Tax

  • The Trump Tax Plan May 1, 2017
    Tax Plan The Trump Administration served its opening volley on tax reform.  Although short on details and sure to be extensively debated and modified by Congress, it does offer us some insights on where the debate may be headed.  Of special importance is the omission of some key campaign proposals.  These include the border tax, […] The post The Trump Tax Pl
  • When to File a Gift Tax Return March 1, 2017
    Do you need to file a 2016 gift tax return by April 18? Generally, you’ll need to file gift tax return if you made gifts that exceeded the $14,000-per-recipient gift tax annual exclusion (unless to your U.S. citizen spouse) and in certain other situations. If you transferred hard-to-value property, such as artwork or interests in […] The post When to File a
  • December Tax Tips December 8, 2015
    Avoid a 50% penalty:  Take retirement plan RMDs by December 31 After you reach age 70½, you must take annual required minimum distributions (RMDs) from your IRAs (except Roth IRAs) and, generally, from your defined contribution plans (such as 401(k) plans). You also could be required to take RMDs if you inherited a retirement plan […] The post December Tax T
  • Plan for a Better Tax Year November 9, 2015
    With the holidays just around the corner, it is time, once again, to start your year-end tax planning. And like so many years in the recent past, we are once again waiting on Congress to pass the tax extenders bill to know what many of the most common 2015 tax provisions will be. What we […] The post Plan for a Better Tax Year appeared first on CP Advisors B
  • 2015 Year-End Tax Planning Tips October 28, 2015
    Review your tax situation before year-end to avoid unpleasant surprises, take advantage of tax-reduction opportunities, and budget for a possible tax bill. Here are a few strategies to consider before December 31 from the tax experts at Ciuni & Panichi, Inc. Pay Deductible Expenses Early Consider accelerating some deductible expenses to produce higher 20
  • 2015 Year-End Tax Planning Tips for Individuals October 22, 2015
    Review your tax situation before year-end to avoid unpleasant surprises, take advantage of tax-reduction opportunities, and budget for a possible tax bill. Here are a few strategies to consider before December 31 from the tax experts at Ciuni & Panichi, Inc. Pay Deductible Expenses Early Consider accelerating some deductible expenses to produce higher 20
  • Expiring Tax Breaks November 17, 2014
    Any chance they will be extended? It may feel like a recurring nightmare but here we are again near the end of the year and we still do not know what the key tax provisions will be.  Will the lame-duck Congress tackle the issue?   Find out what you need to do to be prepared. With […] The post Expiring Tax Breaks appeared first on CP Advisors Blog.
  • Tax Advantage for Business Income October 27, 2014
    Timing business income and expenses to your tax advantage.   Typically, it’s better to defer tax. Here are two timing strategies that can help businesses do this: Defer income to next year. If your business uses the cash method of accounting, you can defer billing for your products or services. Or, if you use the […] The post Tax Advantage for Business Incom
  • Short-term ACA Relief Now Available for Midsize and Large Employers May 15, 2014
    Recently released IRS final regulations for the Affordable Care Act’s (ACA’s) employer shared-responsibility provision provide some short-term relief for midsize and large employers. Under the ACA, the shared-responsibility provision (commonly referred to as “play-or-pay”) applies to “large” employers — those with the equivalent of 50 or more full-time emplo
  • Deadline Coming Up to Report Foreign Account Holdings April 27, 2014
    The deadline is approaching for US taxpayers to report accounts they hold in foreign banks and other financial institutions (foreign account holdings). You also may be required to report foreign account holdings over which you have signature authority, such as an account that you maintain on behalf of a relative or employer — or if you […] The post Deadline