4 Steps to Save Money with Year-End Tax Planning

SJG Tax Consulting

Think back over the past year. Were you surprised by a large 2014 tax bill or items you didn’t expect to see? Chances are, if you’re the owner of a small or medium sized business, you were. According to former IRS revenue officer Michael Raanan, “Numerous businesses overpay their taxes every year by overlooking various tax deductions.” The good news is, with proper early planning, you can take steps to keep more of the money that you’ve earned by reducing your tax burden – whether that’s through deductions or other proven tax strategies.  … [Read more...]

Step-by-Step Accounting for Successful Business Expansion

Tax Accounting Business Expansion SJ Gorowitz

If you’re planning for business expansion into another state or country, the nature of your business will dictate reporting requirements, regulations, and best practices. Customizing your accounting processes is a vital part of the planning process. … [Read more...]

What financial records should I keep?

SJG Tax Alpharetta

Good financial records lay the foundation for mapping business progress, preparing statements, identifying key income sources, tracking deductible expenses, keeping track of property, preparing your tax returns, and supporting the items you report on tax returns. One of the questions we get most often is how long to keep financial documents. Generally, the length of time you should keep a document depends on the action, expense or event the document records.  … [Read more...]

Enrolling for Medicare: A Primer

SJ Gorowitz Morgan Stanley Medicare Primer

The complexity of Medicare and the myriad options enrollees face can be daunting. Here are some pointers on how to go about enrolling for Medicare, and suggestions on different alternatives such as working with a Medicare advisor. As any American over 65 knows, signing up for Medicare is not simple. There are four different parts, each with different options that can have widely divergent effects on costs and coverage. Enrollees may also wish to supplement their Medicare with private coverage. If you are approaching that landmark birthday, consider the following pointers to guide you through the enrollment process. Start by determining whether you’ll continue to have group coverage through an employer or association. This is an especially important first step for anyone who continues to work past age 65 or who can be covered by a spouse who continues to work. While not all private group plans allow people to keep their coverage after age 65, those that do could help give you … [Read more...]