With the year coming to a close, Kiplinger offers last-minute tips for retirees to enhance their tax savings this year. Clients nearing retirement will need to revise their tax-saving strategies, as some tax breaks are no longer available and replaced by new ones, thanks to the new tax law, according to Kiplinger. For example, these clients should consider running the numbers based on standard deduction and itemized deduction and choose the option that will generate the bigger savings. To read the full article in Financial Planning, click: Trim Tax Tabs with These Year-End Moves: Tax Strategy Scan.
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Be a Trusted Advisor Valuation analysts are in a unique position to help their clients. Most business owners have never looked at their business the way a valuation professional does. If the valuation analyst does a yearly check-up or checks in with their clients but does not include a discussion or a strategy to build value in their business, perhaps it should. This is an opportunity to expand the work base with existing clients and establish good or better relationships. Coming into this year-end, now may be the perfect time to discuss the steps to take today.
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Startup Gives Employees a Way to Trade in Unused Time Off Many employees do not use all of their vacation time, which can create liabilities for the companies they work for. A startup called PTO Exchange is trying to address that problem by allowing employees to exchange unused time off for perks, such as 401(k) contributions or help with college tuition. Jena McGregor introduces us to this fresh concept. To read the full article in The Washington Post, click: You May Soon be Able to Exchange Your Extra Vacation Days for Other Perks.