Serving the Tax Preparation, Accounting, and Financial Planning needs of Franklin, Berkshire and Hampshire, and Worcester Counties.

Tax Preparation and Financial Planning Articles

1. Planning Can Trim Taxes On Your Investments

Maximize your tax savings this year by reviewing your investment tax planning before year-end.  Here are a few strategies that might reduce your 2007 taxes and prepare you for what's coming in 2008.  Read entire article...

2. What You Need To Know About Required Retirement Withdrawals

Do you own a traditional IRA, SEP-IRA, SIMPLE IRA. Keogh plan, 401(k) plan, or 403(b) plan?  If so, you'll have to start taking distributions when you reach age 70 1/2.  If you don't, you'll forfeit 50% of the amount you should have taken but did not.  For example, if your minimum required distribution (RMD) in 2007 was $10,000, but you only withdrew $4,000, your penalty would be 50% of the $6,000 you did not withdraw, or $3,000.

The RMD rules apply to the plans mentioned above, but not to Roth IRAs.  Read entire article...

3. Should You Save For Your Children's Education Or Your Retirement?

In a perfect world, everyone could save enough to fund their children's higher education, as well as provide for their own retirement.  But in the real world, many people struggle to do both, to the point one often takes a back seat to the other.  If this describes your situation, here are some ideas that might help.  Read entire article...