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IRA Tag

 

CPA Firm Tax Tip

24 Apr, by Jschultz in Tax

    CPA Firm Tax Tip Recently I ran into a mess when our CPA firm was called to assist with a trust issue. It was in regards to a decedents grantor trust. The beneficiaries of the trust were mostly minor children and according to…

MyRA

31 Jan, by Jschultz in Tax, Tax-Preparation

President Obama signed an executive order of January 29, 2014 creating the MyRA. It appears that its intention is to provide a low risk saving opportunity for those who do not participate in company run retirement plan.  The annual limits on the contribution will be…

Canton Accountant

02 Jan, by Jschultz in Tax

Schultz & Associates, CPA understand that there are not many choices if you are looking for a Canton accountant. Many of the firms you will find are small practices that are not available year round. Perhaps this is only one preparer which makes them very…

Can I make a Traditional IRA Contribution

31 Dec, by Jschultz in Business, Tax

Making a Traditional IRA contribution is the best way to reduce your income tax liability.  All other deductions result in a decrease in tax. But most deductions result in a net out flow of cash.  Traditional IRA contributions are not available for withdrawal without penalty…