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diamondcpas


In the aftermath of the COVID-19 pandemic, small businesses can look to economic indicators to help guide their planning and decision making. Economic studies are indicating that with the health crisis beginning to subside in the United States, small businesses are reporting strong growth. According to responses in a recent Small Business Recovery Report, the[…]

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Deciding whether to loan money to a friend or family member can be a tricky road to navigate. It is important to understand the personal, legal and tax consequences of your decision. When someone asks for financial help, saying “no” can be hard. And, if it’s a family member, it can even be harder. To[…]

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The dream of running your own business began with certain expectations and desires, including making more money and finding more satisfaction in your work. But, sometimes, it may feel that neither of those things is true. Let’s take stock and see how you may have gotten sidetracked and map out a strategy to get you[…]

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If you’re not familiar with I-bonds, you may be missing out on a significant means of growing your savings, especially during these challenging economic times, with inflation taking a big bite out of everything, from fuel to groceries. I-bonds are a type of United States savings bond that are designed to protect the value of[…]

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Inheriting an IRA presents a number of choices for the beneficiary. Whether it’s a Roth or Traditional IRA, the rules surrounding the inheritance can be complicated and your decisions can have a significant impact on your financial planning. When the so-called “stretch IRA,” was virtually eliminated by passage of the 2019 SECURE Act, beneficiaries of[…]

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There is some good news for your retirement planning. If you have an employer-sponsored 401(k) retirement plan, or any of a number of similar plans, you’ll be able to increase your annual contribution this year by $1000, as part of the federal government’s scheduled inflation adjustment. The limit increase means work-based retirement plans can reach[…]

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