We specialize in bookkeeping, payroll, income tax return preparation, and retirement planning, and serve a nationwide clientele consisting of individuals and businesses of all types and sizes (LLC, partnerships, C & S Corporations), as well as trusts and estates. As financial problem solvers, we provide practical advice and proactive solutions with personalized service. We are affordable, experienced, and friendly, and we tirelessly study and research the ever-changing world of tax law and regulation so that we can help every client realize the greatest possible savings and return on investments. Our office is conveniently located in Dover, Delaware. Please contact us today to find out more about how we can make YOUR life less taxing!Tax
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๐๐ฟ๐ฒ ๐๐ฅ๐ ๐ฐ๐ผ๐ป๐๐ฟ๐ถ๐ฏ๐๐๐ถ๐ผ๐ป๐ ๐ฑ๐ฒ๐ฑ๐๐ฐ๐๐ถ๐ฏ๐น๐ฒ ๐ณ๐ผ๐ฟ ๐บ๐ ๐๐ฟ๐ฎ๐ฑ๐ถ๐๐ถ๐ผ๐ป๐ฎ๐น ๐๐ฅ๐?
Potentially, yes. If your contribution is deductible, the amount you put in reduces your taxable income for the year, dollar for dollar.
But whether you get that deduction depends on a few factors:
โข Whether you or your spouse is covered by a workplace retirement plan
โข Your modified adjusted gross income (MAGI)
โข Your filing status
โข Your marginal tax bracket
โข Your age (those 50+ can contribute more)
(Also, if your IRA contributions drop you into a lower tax bracket, you can see even more tax savings.)
So, make all the contributions you can before April 15. That way, you lock in all the tax savings you can for this year AND secure valuable time for your contributions to grow tax-deferred.
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โ๐๐๐๐ฉ ๐๐ง๐ ๐ฉ๐๐ ๐๐๐๐๐๐ฃ ๐๐ค๐จ๐ฉ๐จ ๐ค๐ ๐๐๐ค๐ฅ๐ฉ๐๐ฃ๐ ๐ผ๐ ๐ฉ๐ค๐ค๐ก๐จ?โ
The price of the software is only part of the cost of adopting AI tools.
You also have to account for the time it takes to research the right tools, train your team, and work through the productivity dip that often happens when you move away from old habits and processes.
Those indirect costs add up quickly, and they are easy to overlook when you are budgeting for a new tool.
A good rule of thumb is to build in a 20% contingency buffer to help cover the extra time, training, and transition costs.
AI tools can be a smart investment, but only if you plan for the full cost of implementation, not just the monthly fee.
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Saving for retirement is not easy in 2026... though, apparently, Gen Z has it sort of figured out.
Where do you fall on that spectrum?
Everyone but Gen Z is saving less for retirement. What's happening?
www.usatoday.com
Americans are saving less and borrowing more from retirement funds, but Gen Z is bucking the trend, a new report shows.0 CommentsComment on Facebook
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First State CPAs & Associates |
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18 S. State St, Dover, DE 19901 |
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| (302) 736-6657 | |
| Business Hours | |
| January 1st January 31st | |
| MondayโFriday: | 8amโ5pm |
| Saturday & Sunday: | closed |
| February 1st April 15th | |
| MondayโThursday: | 8amโ6pm |
| Friday: | 8amโ5pm |
| Saturday: | By appointment |
| Sunday: | closed |
| April 16th December 31st | |
| MondayโThursday: | 8amโ5pm |
| Friday, Saturday & Sunday: | closed |