Category: General Business/Management Strategies

2019 Year-End Tax Planning Letter

Dear Clients and Friends, Although it has been almost two years since we have seen any major tax changes, there are a few changes for 2019 and some prior year changes we are still getting used to that you may want to consider you as you plan for the end of the year.  Some of … Continued

Annuity Option for Pension Plan Payouts

The following is a summary of an important tax development that has occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize … Continued

Simplified Per-diem Increase for Business Travel

The following is a summary of an important tax development that has occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize … Continued

60-day Rollover Deadline

The following is a summary of an important tax development that has occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize … Continued

Residence Interest Limits Separate for Unmarried Co-Owners

The following is a summary of an important tax development that has occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize … Continued

Research Credit for Internal Use Software

The following is a summary of an important tax development that has occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize … Continued

Tax Cuts and Job Act (TCJA): Impact on IC-DISC Effectiveness

Tax Cuts and Job Act (TCJA): Impact on IC-DISC Effectiveness Let’s explore the use and effectiveness of the Interest-Charge Domestic International Sales Corporation (IC-DISC) in the new tax environment. For those new to an IC-DISC, the IC-DISC converts what would normally be ordinary business income into qualified dividends, thus generating a tax savings due to … Continued

Last Minute Plan to Reduce Estate Taxes

In April, my mom was diagnosed with Stage 4 cancer and told she might not be alive to celebrate the Christmas Holidays. My sister took over the medical advocacy role and I became the financial point person.  It gave us a place to focus our attention in this time of grief. I want to share … Continued

New beginnings for HKP partner Don Kurth

He is set to retire in October after 42 years with the firm. It’s been a while in coming, according to Don Kurth, owner and partner of HAGEN, KURTH, PERMAN & Co., P.S. (HKP), when talking about his upcoming retirement after 42 years with the firm. The path to becoming an accountant had a few … Continued

Mom asked me to be her Medical Advocate – Now What?

When my mom received her diagnosis of Multiple Myeloma (a type of blood cancer), I was with her in the doctor’s office. Although at that time I could not grasp the enormity of the decision to accompany her that day, I had stepped into the role of being my mom’s medical advocate as she began … Continued