Roth contributions are made with money that’s already been taxed, so you won’t have to pay taxes on qualified withdrawals, including earnings. You can choose to allocate part of your salary deferral to the Roth or a traditional 457(b) or 401(k) pre-tax account.
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Roth Contributions Predictions For The Future
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Busted! Don’t Believe These Accounting Myths!
Accounting can be an intimidating and dreaded part of a business as it often gets confusing. Moreover, understanding the ins and outs of your company’s financial affairs can be taxing at times. It is a term that can bring up a lot of questions and myths. The many false facts about professional accounting services can make it hard to distinguish what’s true, and incorrect information could cost you new growth opportunities.
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Maximizing Your Tax Savings: The Benefits of Hiring Professional Accounting Services
As you approach retirement or have already retired, maximizing your tax savings becomes critical. Hiring professional accounting services, such as Cooley & Martin ensures you receive expert tax planning guidance tailored to your specific needs. Our experienced accountants in Charlottesville and across Virginia understand the unique challenges and opportunities faced by individuals in this stage of life. We provide comprehensive tax planning strategies that align with your retirement and estate planning goals.
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The Importance of Proper Accounting for Small Business Tax Planning
Proper accounting forms the foundation of effective tax planning for small businesses. Accurate financial records are essential for understanding the financial health of your business, identifying tax-saving opportunities, and complying with tax regulations. By partnering with Cooley & Martin,a reputable accounting firm in Charlottesville, you can ensure meticulous accounting practices that lay the groundwork for successful tax planning.
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Estate Tax Return For DSUE Election By Cooley & Martin
Under the DSUE election, the estate of a surviving spouse can benefit from the unused portion of the decedent’s exemption by increasing their exemption. This maximizes the benefits for families that otherwise may have to contend with a top estate tax rate of 40%.
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How This New Accounting Rule Could Affect You
The Internal Revenue Service (IRS) Notice 2022-53 has cleared up the Required Minimum Distributions (RMDs) rule. The latest legislation requires people to be more aware of their tax obligations when they inherit certain retirement accounts. Please click here to read IRS Notice 2022-53.
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Stay In Touch With Cooley & Martin!
Our email newsletter is a one-stop resource for relevant news and content about Cooley & Martin, a full-service tax and accounting firm in Charlottesville, VA.
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Season’s Greetings from Cooley & Martin
The Cooley & Martin team hopes you and your family have a wonderful Holiday Season. We appreciate your business and wish you all the best in the new year.
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What Makes Cooley & Martin Stand Out
Thanks for stopping by our blog. If you’re looking for more information about Cooley & Martin, you’ve come to the right place.
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Announcing The New Website
We are delighted to announce the launch of our new website!
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New website under construction
New Website Coming Soon!
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