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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๐๐ผ๐ ๐ฐ๐ฎ๐ป ๐ ๐ฎ๐ฐ๐๐๐ฎ๐น๐น๐ ๐๐๐ฒ ๐๐ ๐ถ๐ป ๐บ๐ ๐ฏ๐๐๐ถ๐ป๐ฒ๐๐ ๐๐ถ๐๐ต๐ผ๐๐ ๐ฟ๐ถ๐๐ธ๐ถ๐ป๐ด ๐บ๐ ๐ฐ๐ฎ๐๐ต ๐ณ๐น๐ผ๐?
First, know where AI's capabilities end and where human oversight needs to take over. AI can be a great tool for improving efficiency, but it's best used to generate ideas.
Here are some other practical ways to safely use AI in your business:
โข Brainstorm service offerings, campaign ideas, and meeting agendas
โข Outline processes and identify operational inefficiencies
โข Draft marketing content, emails, and client communications
โข Streamline routine administrative tasks
๐๐ฉ๐ข๐ต ๐ฃ๐ถ๐ด๐ช๐ฏ๐ฆ๐ด๐ด ๐ต๐ข๐ด๐ฌ ๐ฉ๐ข๐ด ๐๐ ๐ด๐ข๐ท๐ฆ๐ฅ ๐บ๐ฐ๐ถ ๐ต๐ฉ๐ฆ ๐ฎ๐ฐ๐ด๐ต ๐ต๐ช๐ฎ๐ฆ ๐ฐ๐ฏ?
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๐ ๐น๐ผ๐ ๐ฐ๐ฎ๐ป ๐ฐ๐ต๐ฎ๐ป๐ด๐ฒ ๐ฏ๐ฒ๐๐๐ฒ๐ฒ๐ป ๐๐ฎ๐
๐๐ฒ๐ฎ๐๐ผ๐ป๐. ๐๐ฎ๐ ๐ฎ๐ป๐๐๐ต๐ถ๐ป๐ด ๐ฐ๐ต๐ฎ๐ป๐ด๐ฒ๐ฑ ๐ณ๐ผ๐ฟ ๐๐ผ๐?
If you've had a major life or financial change since we last talked, let's reconnect. We want to make sure you're still on track and help you prepare for any new tax changes before it catches you off guard.
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๐ช๐ต๐ฎ๐ ๐ต๐ฎ๐ฝ๐ฝ๐ฒ๐ป๐ ๐๐ผ ๐บ๐ ๐ฑ๐ฎ๐ต ๐ฝ๐น๐ฎ๐ป ๐ถ๐ณ ๐บ๐ ๐ฐ๐ต๐ถ๐น๐ฑ ๐ฑ๐ผ๐ฒ๐ ๐ป๐ผ๐ ๐ด๐ผ ๐๐ผ ๐ฐ๐ผ๐น๐น๐ฒ๐ด๐ฒ?
You can roll over up to $35,000 of unused 529 funds directly into a Roth IRA for your child without paying federal taxes or penalties.
To qualify, the rollover has to meet several IRS rules:
โข The 529 account must be open for at least 15 years
โข The total lifetime rollover cap is $35,000 per beneficiary
โข The annual rollover is limited by the yearly IRA contribution cap, which is $7,500 in 2026 for someone under age 50
โข The beneficiary must have taxable compensation at least equal to the amount rolled over
โข Contributions made during the previous five years, along with the earnings on them, canโt be rolled over
We get it, tax rules are a lot to digest when you're trying to plan for your childโs future. Every familyโs picture is a little different, and Iโd love to help you figure out if a 529 plan actually makes sense for your specific goals.
๐๐ฉ๐ข๐ต ๐ฆ๐ญ๐ด๐ฆ ๐ธ๐ฐ๐ถ๐ญ๐ฅ ๐บ๐ฐ๐ถ ๐ธ๐ข๐ฏ๐ต ๐ต๐ฐ ๐ฌ๐ฏ๐ฐ๐ธ ๐ข๐ฃ๐ฐ๐ถ๐ต ๐ด๐ฆ๐ต๐ต๐ช๐ฏ๐จ ๐ถ๐ฑ ๐ข 529 ๐ฑ๐ญ๐ข๐ฏ? Ask your questions in the comments below.
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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 |