Tick, tock. It is Friday; the weekend is upon us! And so is Tax Day, April 15th. The deadline is less than 72 hours away, and this Monday may feel like a countdown to doomsday for taxpayers who need an extension and owe taxes. The stroke of midnight on April 15 doesn’t have to spell... The post The Clock’s Ticking: Your Last-Minute Guide to Tax Extensions and Payments appeared first on Tannery Company ..read more

How much is needed for healthcare costs in retirement? It’s a question that looms large for anyone planning their financial future. According to the Fidelity Retiree Health Care Cost Estimate, a staggering figure emerges: a single person aged 65 in 2023 may need to save approximately $157,500 (after tax) to cover health care expenses in... The post Unlocking the Power of Your HSA: More Than Just a Savings Account appeared first on Tannery Company ..read more

I recently had an eye-opening experience returning from a quick weekend getaway with Tina. The Wi-Fi was not working during our flight back, and I rediscovered an old game I hadn’t played in several decades.  (the book I had with me was completed on the previous flight) Solitaire Boredom solved! I struggled to recall the... The post Does Your Business Have An “Ashley”? appeared first on Tannery Company ..read more

Client – “I owe $15,000 in Income Tax!!  Should I use my credit card to pay the tax?” Savvy CPA Says………Maybe With the April 15 deadline, you may wonder if charging your taxes to a rewards credit card to earn cash back or points toward travel is worth it. Yes, you can use your Credit Card to... The post Should I Use my Credit Card to pay my IRS TAX? appeared first on Tannery Company ..read more

Fear not if you’ve found yourself hitting the income limits for direct Roth IRA contributions. The Backdoor Roth IRA might be your ticket to tax-advantaged growth. In this step-by-step guide, we’ll walk you through the process, from laying the groundwork with a traditional IRA to navigating the conversion to a Roth. Plus, we’ll highlight key... The post Mastering the Backdoor Roth IRA: A Comprehensive Guide appeared first on Tannery Company ..read more

What about a Backdoor Roth??  First, let’s clear up the misconception about a ROTH IRA.  You can make a ROTH IRA contribution even if you make too much money! HOW? Many people make too much money to contribute to Roth IRAs, but here’s a way to sneak in the back door anyway. How about a Backdoor... The post What about a Backdoor Roth?? appeared first on Tannery Company ..read more

Are you a first-time investor and/or a new business owner? Have you circled March 15, 2024, on your calendar? That’s the deadline for filing your business tax return if you’re running an S Corporation or Partnership. You might be used to the April 15th deadline for personal taxes, but this one’s different, and it’s crucial... The post Don’t Miss the March 15th Deadline: A Must-Read for S Corps and Partnerships appeared first on Tannery Company ..read more

Have you ever felt like your financial worries don’t match your bank statement? You’re not alone. It’s called “money dysmorphia,” and it’s more common than you think, especially among millennials and Gen Z. But here’s the deal: there’s a way out, starting with looking at your money in a new light. Step 1: Get Real... The post Kickstart Your Financial Journey: A Fresh Approach to Beating Money Dysmorphia appeared first on Tannery Company ..read more

Are you carrying debts that feel like a heavy backpack you can’t take off? Let’s talk about a cool trick called the Snowball Method. It’s super simple and works, especially if you’re in your 20s or 30s and trying to get your money right. Think of your debt like snowballs. Some are big; some are... The post How to Knock Out Your Debt with the Snowball Method appeared first on Tannery Company ..read more

In his escapades and adventures, James Bond may have used many tricks to escape death. However, even James Bond would have needed documentation to deduct the cost of his Aston Martin. Court nixes most auto deductions:  In the summary judgment issued by a Tax Court Judge, he ruled that the owner of a Long Beach, California-based `... The post Even James Bond Needs Documentation appeared first on Tannery Company ..read more