EquivoraFinancial Tax and Bookkeeping

Tax Services

Businesses Tax Preparation

We Specialize in Business Tax Preparation

As a business owner, you’re busy developing new products or services and making sure your business runs smoothly. You probably don’t have time to reconcile your bank account or generate balance sheets to manage your cash flow, let alone read up on the latest tax laws to find out which tax breaks you can take advantage of.

When you first started out, and money was tight, the do-it-yourself method of accounting might have worked just fine. But now that you have employees, pay estimated taxes, and need to manage your cash flow better, it’s time to find a trusted advisor to partner with all year long--not just at tax time.

There’s no better time than now to discuss tax planning strategies that will help you build a foundation for future success.

Here is what we do for you:

State and federal income tax preparation and filing
Local and state sales tax compliance
State and federal payroll tax
Minimize tax liability through the use of proven tax planning strategies
Profit and loss statements
Mergers and Acquisitions
Entity selection and structure (S-Corp, C-Corp, LLC)

Make Sure You Never Miss a Deadline Again

The IRS, as well as state and local governments, imposes strict deadlines for business tax obligations. Missing these tax deadlines and failing to comply with payroll and sales taxes negatively impacts your bottom line and may result in fines for non-compliance.

As your trusted advisor, we make sure you stay on top of your tax obligations and avoid penalties and fees that reduce your profitability.

Experienced Tax and Accounting Professionals You Can Trust

To find out how our team of experienced tax and accounting professionals can help your small business achieve success call us today or use the contact form below.

Call (571) 484-2138

Tax Services

Tax Planning

Start Planning Your Financial Future Today

Many people feel like their tax bill is too high. Maybe you do too. The good news is that it doesn’t have to be. When you work with an accounting firm like ours, we make your financial success a priority.

If Financial Success Is Your Goal, We Are Here to Help!

There is more to preparing your taxes than simply filling out forms at tax time. It's also about understanding our clients’ needs and helping them plan for a secure future.

Here’s how we do it:

Based on careful analysis of your tax situation we make sure you take every tax credit and deduction you deserve on your tax return.
We help you set up a recordkeeping system that meets IRS requirements.
We work with you all year long--not just at tax time to develop tax planning strategies that lower your tax bill.
We review and adjust your paycheck withholding so that it accurately reflects your tax situation and lets you keep more of your money (why give the IRS a free loan?).
We help you understand how to defer tax liabilities through pension plans, retirement contributions, and similar plans.
We make sure you take advantage of certain investments to produce tax-exempt income (federal or state or both).

Ready to Take the Next Step?

If you feel like too much of your hard-earned money goes straight to the IRS instead of your bank account, then we can help.

Simply fill out the form below or give us a call. It's that easy!

Call (571) 484-2138

Tax Services

Estate & Trust Tax Services

Estate and Trust Tax Preparation Helps Preserve, Protect, and Enhance Your Financial Legacy

Estate and trust tax preparation and planning are an important part of managing your financial future -- and it’s not just for the one percent; it’s important for everyone -- especially if you have a spouse or children or own a business.

As your trusted advisor, we help you develop an estate and trust plan that protects wealth and minimizes the tax burden on you and your loved ones.

Protecting your assets is critical to ensure financial security for your loved ones and we know that estate planning and trust tax return preparation is not easy, often requiring specialized knowledge and expertise.

We Understand Fiduciary Tax Laws

Our tax and accounting professionals have many years of experience helping clients just like you. We work closely with investment advisors, attorneys, and other financial professionals so that we are able to develop a long-term estate plan that meets the individual needs of every client. We also stay current on tax law changes that affect estate and tax trust preparation.

Our Estate and Trust Tax Services Include:

Allocating assets to spouses, children, trusts, and charities
Reviewing your estate plan and trust tax situation to ensure financial goals are met
Gift tax returns and strategies
Business succession planning
Trust administration
Trust income tax returns
Estate tax returns

If You Need Assistance With Estate and Trust Tax Preparation We Are Here to Help.

Preparing income tax returns for trusts and estates can be complicated and if you haven’t developed an estate plan it’s not too late.

Contact us today by filling out the form below. You'll be glad you did.

Call (571) 484-2138

Newsletter & Resources

September 2026 Newsletter

Feature Articles

Could Bad Debts Lower Your 2026 Taxes?
4 Tax-Smart Investment Moves Before Year End
Make the Most of Your HSA Tax Benefits

Tax Tips

Ready Your Books for Tax Season
Could Accessibility Upgrades Lower Your Tax Bill?
When LTC Premiums Provide a Tax Break

Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.

Could Bad Debts Lower Your 2026 Taxes?

When customers or others don’t pay what they owe your business, you may be able to claim a bad debt deduction to help offset the financial loss. But it isn’t automatic. Businesses must satisfy specific federal tax rules and maintain adequate records to support the deduction.

Not Every Unpaid Debt Is Eligible

Whether an unpaid debt is deductible depends on several factors. First, the debt generally must be connected to your trade or business. Examples include unpaid customer invoices, certain loans to customers or suppliers and some business-related guarantees.

The debt also must be bona fide. This means there must have been a genuine expectation of repayment when the money was advanced or credit was extended. Documentation such as invoices, contracts, promissory notes and payment terms can show the transaction was a legitimate debt rather than a gift or capital contribution.

Additionally, not every business is eligible to deduct unpaid customer receivables. The purpose of the deduction is to offset a previous tax liability. So, you must have previously included the receivable in your income.

If your business uses the cash-basis method of accounting, you generally recognize income only when payment is received. Because unpaid invoices generally haven’t been included in taxable income, they’re typically not deductible as bad debts.

Accrual-basis businesses generally recognize income when it’s earned rather than when payment is received. As a result, they may be eligible for a bad debt deduction if an amount previously included in income later becomes partially or totally worthless. For partially worthless business debts, a charge-off for accounting purposes generally is required.

How Mixed-Purpose Debts Are Treated

Some debts may involve both business and personal motives. For example, suppose you guarantee a loan for one of your best customers, who also happens to be a close friend. If the borrower defaults, whether the loss is treated as a business or nonbusiness bad debt depends on whether your dominant motivation in making the guarantee was to help your business or your friend.

The distinction is important because nonbusiness bad debts are deductible only if they’re totally worthless. And they’re treated as short-term capital losses, which can generally offset capital gains and up to $3,000 of ordinary income annually, with any excess carried forward.

Document Your Collection Efforts

One of the most important requirements is showing that you’ve made reasonable efforts to collect the debt. Simply deciding that a customer probably won’t pay usually isn’t enough to conclude the debt is worthless.

It’s also critical to keep records of the actions you’ve taken. These may include invoices, reminder notices, collection letters, payment plans, correspondence with attorneys or collection agencies and information showing the debtor’s financial difficulties, bankruptcy or insolvency. Going to court isn’t necessary if you can demonstrate that obtaining a judgment would be futile.

If you haven’t consistently documented your collection efforts, there’s still time. Review overdue accounts and make sure your files reflect the steps you’ve taken to pursue payment. This can make a significant difference if the IRS questions your deduction.

Review Your Receivables Now

Do you have aging receivables or other potentially uncollectible business debts? Contact the office before year end for help evaluating your options, ensuring your documentation is complete and identifying the deductions you may be eligible to claim.

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4 Tax-Smart Investment Moves Before Year End

As the end of 2026 approaches, look beyond investment performance and consider how taxes may affect your overall returns. Although tax considerations generally shouldn’t drive investment decisions, a year-end portfolio review may identify opportunities to reduce your taxes. Here are four to consider.

1. Harvest losses (or gains)

Review the capital gains and losses you’ve realized so far this year. If you have a net capital gain, you may be able to offset some or all of it through tax-loss harvesting before year end. This means selling some investments that have declined in value compared to what you paid for them.

If you expect to end the year with a net capital loss, consider selling some appreciated investments. The resulting gains can be offset by your already-recognized capital losses, essentially making the sale tax-free. But don’t eliminate your entire net capital loss. Each year you generally can use up to $3,000 of net capital losses ($1,500 if married filing separately) to offset ordinary income (such as wages, business income and taxable retirement plan distributions). Any remaining losses can be carried forward indefinitely.

2. Avoid the wash sale rule

If you sell an investment at a loss for tax purposes, be mindful of the wash sale rule. Under this rule, if you sell a security at a loss and purchase the same or a substantially identical security within the 30-day period before or after the sale, the loss generally isn’t deductible in the current year. Instead, the disallowed loss is added to the basis of the replacement security, postponing the tax benefit until the replacement security is sold.

To avoid this result, consider waiting at least 31 days before repurchasing the investment or replacing it with a similar — but not substantially identical — security. Purchases by a spouse or certain related entities can also trigger the wash sale rule.

3. Time the sale of appreciated investments

Before selling investments that have increased in value, consider whether you should wait until next year. If you expect your taxable income to be lower in 2027 — perhaps you’re retiring or anticipating lower business income — delaying the sale could reduce the tax rate you pay on it.

However, if you expect to be in a higher tax bracket next year, selling in 2026 may be advantageous. Consider your expected income, cash needs and tax situation.

4. Donate appreciated securities

If you’re planning charitable gifts, consider donating long-term appreciated securities instead of cash. Donating them will allow you to avoid the capital gains tax you’d have to pay on the appreciation if you sold the securities. Plus, if you itemize, you generally can claim a charitable deduction for the fair market value of the securities.

Don’t donate stock that’s worth less than what you paid for it. Instead, sell the stock so you can deduct the loss and then donate the cash proceeds to charity.

Moving Forward

Before making significant investment moves, contact the office to discuss how to coordinate your investment decisions with your overall tax strategy.

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Make the Most of Your HSA Tax Benefits

If you’re eligible to contribute to a Health Savings Account (HSA), consider taking a closer look at your contribution strategy. You may be able to reduce your 2026 taxes while strengthening your long-term financial security. Although many people use HSAs to pay current medical expenses, they can also help fund retirement.

Maximize Tax Savings

HSAs offer valuable tax advantages. Generally, contributions are pretax if made through payroll deductions or tax-deductible (without itemizing) if made directly to an HSA you establish yourself. Investment earnings grow tax-deferred, and withdrawals used for qualified medical expenses are tax-free.

If you haven’t reached the 2026 contribution limit, there’s still time before year end. For 2026, you can contribute up to $4,400 for self-only coverage or $8,750 for family coverage, plus an additional $1,000 catch-up contribution if you’re age 55 or older.

To be eligible to contribute, you generally must be covered by a qualifying high-deductible health plan (HDHP) and not be enrolled in Medicare or covered by certain other health plans. For 2026, an HDHP generally must have a minimum deductible of $1,700 for self-only coverage ($3,400 for family coverage) and maximum annual out-of-pocket expenses of $8,500 ($17,000 for family coverage). Beginning in 2026, HSA eligibility has expanded by generally treating bronze and catastrophic plans as HDHPs.

Think Beyond Medical Expenses

An HSA can do more than help pay today’s health care costs. If your financial situation allows, consider paying current qualified medical expenses out of pocket and leaving your HSA balance invested. Unused funds carry forward indefinitely and can continue growing on a tax-advantaged basis.

This strategy may also help build additional tax-deferred retirement savings. After age 65, you may withdraw HSA funds for nonmedical expenses without the 20% penalty that generally applies to earlier nonqualified withdrawals, though you’ll owe regular income tax on those distributions. Withdrawals used for qualified medical expenses remain tax-free, so tax-free HSA funds may be used to pay certain Medicare premiums and other eligible health care expenses during retirement.

Don’t Wait

Now is a good time to review whether you’re making the most of your HSA. Contact the office for assistance.

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Ready Your Books for Tax Season

One of the most common bookkeeping mistakes business owners make is mixing business and personal finances. Addressing this issue before year end can simplify tax preparation, improve the accuracy of your financial records and help reduce the risk of IRS questions.

Business expenses generally must be “ordinary and necessary” to qualify for a tax deduction. If personal purchases are recorded as business expenses, you could overstate deductions. On the other hand, if legitimate business expenses are paid with personal funds but never recorded, you could miss valuable deductions.

Mixing business and personal transactions also can distort your financial statements, making it harder to measure profitability, manage cash flow and make informed business decisions. For corporations and limited liability companies, maintaining separate finances helps reinforce the legal distinction between the business and its owners. If you need guidance, contact the office.

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Could Accessibility Upgrades Lower Your Tax Bill?

Improving accessibility at your business may come with a valuable tax break: Eligible small businesses can claim the Disabled Access Credit for certain costs related to improving accessibility for individuals with disabilities. A business may qualify if, in the prior tax year, it had gross receipts of $1 million or less or no more than 30 full-time employees.

The credit equals 50% of eligible expenses above $250 but not above $10,250. Examples of potentially eligible costs include providing interpreters for people with hearing impairments, providing readers for people with visual impairments, and acquiring or modifying equipment or devices. Contact the office if you need guidance on the credit.

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When LTC Premiums Provide a Tax Break

Are long-term care (LTC) insurance premiums tax-deductible? It depends. Qualified LTC policies are considered health insurance under federal income tax rules. So if you buy a policy, your premiums are treated as medical expenses for itemized deduction purposes.

But your total eligible medical expenses for the year must meet the 7.5% of adjusted gross income threshold before you can start deducting LTC premiums. And there are age limits on how much you can deduct — for example, $500 for individuals age 40 and under and $6,200 for those 70 and over. Other age groups’ 2026 maximums fall between these two. Contact the office for more information.

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Newsletter Archive

Previous Newsletters

Miss last month's newsletter? No problem. We keep the last 8 months of newsletters here for you to read.

Tax Center

Track Your Refund

When will you receive your refund?

The answer depends on how you filed your return. The IRS should issue your refund check within six to eight weeks of filing a paper return. If you chose to receive your refund through direct deposit, you should receive it within a week. If you use e-file, your refund should be issued between two and three weeks.

You can check on the status of your refund by clicking on the links or selections below:

Check your Federal Refund

Click here to check IRS Refund Status

Check your State Refund

Select State to visit the official department of revenue website:

Personal Financial Planning

If Your Goal Is Financial Independence, We Will Help You Get There

Most people have clear financial goals, whether it’s having enough money to retire comfortably, saving enough for your children’s education, or passing accumulated wealth to future generations. Less clear is how to get there, and you may have questions such as:

How much risk should I take to reach those goals?
Will I have enough money to retire?
How can I save for my children’s education and save for retirement too?
Are there ways to minimize taxes on accumulated wealth?
Should I convert to a Roth IRA?
What impact does social security have on my tax situation?

These are valid concerns. Financial planning is complicated, and you’re busy enough with everyday life. The good news is that we have answers. As a premier financial services firm, we know what it takes to make sure our clients achieve the financial independence they deserve after a lifetime of hard work.

What we do for you:

Develop a comprehensive personal financial plan to achieve your goals
Periodically review your personal financial plan as your life situation changes
Integrate your financial plan with your tax planning (individual and business)
Evaluate estate, gift tax, and trust tax strategies to preserve wealth
Review investment strategies (are you paying too much in fees?)
Evaluate investment and retirement portfolio risk (more aggressive, less aggressive)
Help you understand Required Mandatory Distributions (RMDs) from IRAs
Analyze your current budget versus your retirement budget
Create a retirement income distribution plan that meets your goals

Your Partner in Achieving Financial Freedom

If you're ready to take the next step, please fill out the contact form below, and one of our financial planning advisors will be in touch soon. It’s that simple.

Contact Form

Sunlight Filtering Through Dense Green Forest

Retirement Planning

It's Never Too Early To Start Planning For Retirement

The key to successful retirement planning is developing a plan that while based on your current financial situation, also meets your projected financial goals down the road.

That's no easy task, however. Tax rules regarding retirement plans are complex. Each benefit plan has specific requirements as outlined by the IRS and it's important to understand the tax implications of your retirement planning choices.

If you've already started saving for retirement, are you confident that you're saving enough to live the comfortable lifestyle you deserve or that you have your money in the right retirement plan for you?

If you haven't started saving for retirement, we'll help you figure out a plan that works for you and your family.

Retirement Planning Services:

When you use our retirement planning services, you benefit from our in-depth knowledge and years of retirement planning experience. Here's what we do for you:

Evaluate your current financial situation, including assets and liabilities.
Create a budget that meets your retirement goals, including how much you need to contribute to your current retirement plan to meet those goals.
Review your Social Security account to determine the best time to begin taking your benefits.
Make sure that you understand how other sources of retirement income affect the retirement planning process.
Determine whether taking a lump-sum distribution or opting to take monthly payments is better for your particular financial situation.

Isn't It Time You Started Planning for a More Secure Financial Future?

Whether you're already retired, close to it, or just getting started in your career, it’s never too early to start thinking about retirement planning.

To get started simply fill out the contact form below or give us a call. We're happy to help!

Ready to Secure Your Retirement?

Fill out our contact form or give us a call to get started on your customized retirement plan today.

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Bookkeeping Services

When You Leave the Bookkeeping to Us, You Can Focus on Growing Your Business

Accurate bookkeeping is essential to your company’s long-term viability. Experienced, affordable, and reliable, we serve a variety of industries and clients from self-employed home-based business owners to small and medium-sized businesses with employees. When you outsource your bookkeeping services to us you get one on one personalized service and state of the art technology and payroll software.

If you’re just starting a business, we’ll set up reporting and recordkeeping systems that make it easy for you to keep track of where your money is going. If you’ve been in business for a while, but need help cleaning up your books, we’ll work with you to streamline your bookkeeping systems and set up a system of checks and balances.

But the best reason to use our bookkeeping services? You’ll have more time to focus on running your business and generating more profits.

Bookkeeping Services for Small Businesses

Accounts payable (entry, bill paying)
Accounts receivable (entry, invoicing, deposits, collection)
Bank Reconciliations
Inventory management
Bookkeeping clean up
General ledger
Tax forms (1099s, 1096)
Payroll processing
Outsourced bookkeeping

There's No Better Time Than Now to Take Advantage of Our Bookkeeping Expertise.

Call today and let us put our bookkeeping services to work for you!

Ready to Put Our Bookkeeping Services to Work?

Fill out our contact form or give us a call to schedule a consultation with our bookkeeping experts.

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Small Business Accounting

We Help You Take Control of Your Finances so You Can Focus on Your Business

We’re accountants and we enjoy crunching numbers, but chances are good that as a small business owner, you don’t. In fact, you probably started your business because you had a great product or service to offer and not because you were excited about cash flow analysis, profit and loss statements, budget forecasting, and strategic tax planning.

That’s why we’re here.

Leave the Accounting to Us.

When you use our team of experienced tax and accounting professionals, you get all of the benefits of hiring an experienced financial executive without the added expense.

Whether we meet with you monthly, quarterly, or once a year, we help you take financial control of your business, enabling you to focus on your core business tasks and make informed decisions about your financial future.

What we do for you:

Generate reports and analyze financial data
Evaluate cash flow and improve profitability
Prepare budgets
Strategic tax planning and financial forecasting
Accounting systems set-up, Chart of Accounts and General Ledger
Internal controls for fraud prevention
Quarterly, monthly, and annual financial statements
Use and sales tax processing
Profit statements and balance sheets
Custom financial reports
Business tax returns
Outsourced CFO services

We're Here to Help You Succeed in Reaching Your Business Goals.

As your trusted financial advisor, our job is to help you succeed. If you’re ready to take your business to the next level, improve cash flow, increase the profitability of your company, and focus on growing your business, we are here for you.

Contact us today using the form below if you have any questions. We're happy to help!

Ready to Take Control of Your Finances?

Fill out our contact form or give us a call to schedule a consultation with our small business accounting experts.

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Payroll

Cost-Effective Payroll Services for Your Business

On average, small business owners spend eight hours per month on payroll-related tasks. While it may not seem like a lot of time, it does add up--and it takes time away from running your business.

If you own a small to medium-sized business with more than a few employees, you already know that payroll is complicated. It seems like every year a new piece of federal, state, or local legislation related to payroll is passed that you need to comply with.

If you’re just starting out, you may only have a few employees to worry about. You might be able to handle payroll on your own, but wouldn’t your time be better spent on developing new products or services for your business?

Outsourcing Your Payroll Is More Affordable Than You Think.

When you outsource your payroll responsibilities to us you get a dedicated payroll specialist who works with you throughout the entire payroll process. There’s no need for you to hire an in-house specialist or maintain a payroll system. We also stay on top of legislation affecting payroll compliance, so you don’t need to.

Here’s what we do for you:

Direct Deposit and Electronic Fund Transfer (EFT)
Payroll checks printing
Payroll tax compliance, e-filing, tax payments
Payroll reporting by employee or department
W-2, W-3, and 1099 processing
User-friendly, and easy to understand monthly, quarterly, and annual payroll tax reports
Payment of third-party withholdings such as insurance

There's No Need to Go It Alone.

If dealing with payroll leaves you stressed out and overwhelmed; we can help.

Give us a call today or submit the form below.

Ready to Simplify Your Payroll?

Fill out our contact form or give us a call to schedule a consultation with our payroll experts.

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Part-Time CFO Services

CFO Services: A Cost-Effective Solution for Your Business

Businesses of all sizes benefit from hiring a Chief Financial Officer (CFO) or controller. But many small business owners worry that they can’t afford it. Maybe you’ve been trying to take care of your business financials in your spare time (or ignoring them altogether), but quickly realized it’s a losing battle because unless you’re an accounting professional yourself, your expertise lies elsewhere.

Fortunately, there is a cost-effective solution: part-time, outsourced CFO services.

Experienced, Knowledgeable and Trustworthy, We're in Your Corner.

When you take advantage of our outsourced CFO services, you get a dedicated, experienced financial professional who helps you make the tough business decisions you need to guide your business to future success.

You’ll also have a better understanding of the financial side of your business based on hard numbers. No more guessing about whether you’ll qualify for that loan to buy more equipment or wondering why you’re always short of cash.

When you use our CFO services, here’s what we do for you:

Prepare monthly, quarterly, or annual financial statements
Financial forecasting
Accounts payable and receivable
Provide guidance for increasing cash flow and improving profitability in support of future financial goals
Strategic tax planning
Tax compliance (sales use and payroll taxes)
Set up an accounting system and controls

Dedicated CFO Services

Fill out our contact form or give us a call to schedule a consultation with our CFO experts.

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Calm Ocean Horizon with Gentle Blue Water

Forensic Accounting

You've Got Questions - We Have Answers

If you’re considering our forensic accounting services, there’s probably a reason. You could be a victim of fraud, and we can help you find out if your suspicions are true. Consider the following:

Do you feel like your business is making plenty of money, but you can barely pay your bills?
Have you ever had a nagging suspicion that a trusted member of your team has committed fraud, but you can’t prove it?
Is your soon-to-be ex-spouse claiming there are no matrimonial assets, but you know there are?
Do you suspect some of your employees are taking kickbacks?
Have you discovered missing inventory that can’t be accounted for?

A Fraud Investigation Team You Can Count On

Forensic accountants are more than just number crunchers. It takes a unique combination of skill, intuition, perseverance, diligence, and integrity to do what we do and to do it successfully. We’ll help you get to the bottom of complex financial matters no matter how long it takes.

Our forensic services include:

Quantifying losses due to fraud
Records examination and reconstruction
Analyzing bookkeeping and accounting systems
Investigation of financial reporting irregularities
Analyzing insurance claims
Searching for unreported income and assets
Investigating bribery and kickback schemes
Identifying weaknesses in your accounting processes
Developing procedures that enable you to detect -- and deter -- fraud better

Isn't It Time You Uncovered the Truth?

If you believe that you’ve been a victim of fraud including embezzlement or any other white-collar crime, we can help.

Call or email a member of our forensic accounting team today to schedule a consultation. You won’t be sorry.

Schedule A Consultation

Fill out our contact form or give us a call to connect with our forensic accounting team.

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Cash Flow Management

Many Businesses Fail Because of Poor Cash Flow Management - Don’t Be One of Them

Cash flow refers to the movement of money flowing into and out of a business. Positive cash flow is when you bring in more money than you spend. It is what every business owner strives for because it enables you to pay your liabilities and invest in your business.

Conversely, if you are spending more money than you are bringing in, it is called negative cash flow. While there will be times when every business experiences temporary periods of negative cash flow, too many months of negative cash flow can - and will - cause a business to fail.

Managing Cash Flow Is the Key to Operating Any Successful Business.

As tax and accounting professionals for small and medium-sized businesses, our expertise lies in helping business owners manage their cash flow better with the goal of increased profitability.

Here’s what we do for you:

Develop short and long-term cash projections
Analyze prior years cash flow statements to help you understand where the money goes
Prepare monthly, quarterly, and annual cash flow statements
Provide you with tools to accelerate the collection process
Develop updated billing and payment policies
Assist with obtaining a line of credit
Help you get the maximum rate of return on surplus cash

Avoid a Cash Crisis, Call Us First.

If your business is suffering because you operate in cash crisis mode more often than not, give us a call today.

Schedule A Consultation

Fill out our contact form or give us a call to connect with our cash flow management team.

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Business Advisory Services

Business Planning Is the Foundation of Future Success

In today’s fast-paced, competitive world, many businesses face unprecedented challenges.

Maybe yours does too. If you agree, then chances are you’re spending more and more time on human resource issues, payroll tax compliance, and sales and use tax than you are on revenue-generating opportunities and planning for future growth.

If You Feel Like You're Spinning Your Wheels, We Can Help.

With years of proven expertise in business planning, we make sure that business owners like you have the information - and insights - they need to remain competitive and ensure financial stability for you and your loved ones for years to come.

We combine industry experience with time-tested solutions to develop a framework upon which to build your company’s success. Even better, when you leave the business planning to us, you can get back to doing what you enjoy and do best--running your business.

Our business planning and advisory services include:

Planning for strategic growth
Performance metrics
Review and evaluation of internal controls
SAS 112 compliance
Business valuations and due diligence
Budget and cash flow analysis and management
Business entity selection and restructuring
Financial projections and forecasts
Assistance with debt and financing
Business expansion and acquisition analysis
Evaluation and implementation of accounting software

Start Planning for Future Success Today

It’s more important than ever to have a trusted business advisor like us by your side to help you plan for the future success of your business. If you’re ready to turn today’s challenges into tomorrow’s opportunities, don’t wait a minute longer to contact us.

To find out how we can help your business succeed submit the form below or give us a call. What have you got to lose?

Start Planning for Future Success Today

Fill out our contact form or give us a call to schedule a consultation with our business advisory experts.

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Financial Planning for Businesses

We’re Experts at Financial Planning & Analysis

The goal of business financial planning at any company is to advise company decision-makers on how to achieve revenue and growth goals through strategic planning. We do this by analyzing, synthesizing and translating data and using this information to help CEO, CFO, COO, and other C-suite management make better decisions about your company’s future.

If you've been in business for a while, you could be coasting along, stuck in the routine of payroll, taxes, and worrying about cash flow. Sure, you're probably earning a good living, but maybe you’ve been wondering if there's any way you could become even more profitable--without making too many changes to your business practices.

The good news is that you can, and we are here to help you do just that.

An Accounting Firm That Understands Your Business.

If you run a successful business, you already understand how important it is to work with an accounting firm that understands how your company operates. What you might not realize is that when you add an accountant with expertise in financial planning and analysis to the team it allows you to take your business to another level.

Here’s what we do for you:

Financial reporting and analysis
Identify company-wide trends and variations in your business financials
Use historical performance data to forecast future performance
Profitability analysis
Develop and maintain strategic plans in support of growth
Business modeling
Budgeting and financial forecasting
Sales, marketing and economic analysis
Company performance management (developing key performance metrics and benchmarking)

The Best Business Decision You’ll Ever Make

If you're ready to take the next step and regain your competitive edge, we can help.

Simply fill out the contact form below and one of our financial analysts will be in touch soon.

Schedule A Consultation

Fill out our contact form or give us a call to connect with our financial planning team.

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New Business Formation

Helping You Build the Foundation for a Successful Business

The decision to start a new business is an exciting one, but as every experienced business owner knows, there’s more to it than developing a product and hoping it sells. As an entrepreneur, you’re probably a "big picture" person with a vision. You'd rather not deal with nitty-gritty details like choosing a business entity, sales and payroll tax, or accounting systems that help you manage cash flow. The good news is that we're here to help you figure it out.

What We Do for You:

Determine which business entity best meets your goals and minimizes tax liability
Partnership agreements
Prepare a cash flow budget
Create a business plan to help you secure financing (if needed)
Set up an accounting system using software that works for you
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Prepare annual tax returns and quarterly estimated taxes as needed
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Assess your business insurance needs

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Resources

Financial Calculators

Please try our wide variety of interactive financial problem solvers. Simply enter your criteria and you'll get your questions answered with dynamic graphs and personalized reports.

Cash Flow Calculators

How Does Inflation Impact My Standard Of Living?

Use this calculator to determine the impact inflation may have on your standard of living.

What Is My Projected Cash Flow?

A projected cash flow statement can help you evaluate your personal income and expenses and see if you potentially may run 'in the red or the black' at a future date.

What Is The Value Of Reducing, Postponing Or Foregoing Expenses?

Use this calculator to help determine what you could accumulate by reducing or eliminating discretionary monthly expenses.

Historical Inflation - Compare Purchasing Power

If your income does not keep pace with increasing consumer prices then your standard of living can be reduced.

How Much Am I Spending?

Where does all the money go? An itemization of your living expenses may help you budget better and plan for future expenses.

How Much Do I Need For Emergencies?

It is prudent planning to have at least three to six months of liquid/cash assets set aside in the event of a loss of job, medical emergency, short-term disability, etc.

Should I Pay Down Debt Or Invest My Monthly Surplus?

When you receive some extra money it may be difficult to determine whether you should invest the funds or use them to retire debt. Financial theory recommends that if your after-tax return on investments is greater than your after-tax cost of debt then you should invest.

How Long Will My Money Last With Systematic Withdrawals?

You have worked hard to accumulate your savings. Use this calculator to determine how long those funds will last given regular withdrawals.

Should My Spouse Enter The Work Force?

A working spouse can provide additional needed household income. However, when making your decision, you need to look at the net income generated by a working spouse not simply the gross income. Factors such as health insurance savings, increased daycare expenses, additional transportation costs, etc. need to be considered.

What Is My Current Net Worth?

In order to get where you want to go, you need to know where you are. You can get a view of your financial position by generating a personal net worth statement.

What Is My Projected Net Worth?

Over time your net worth will change as your assets earn interest or are depleted and your liabilities increase or decrease. Use this calculator to estimate what your net worth could be in the future based on specified growth rates.

What Is My Current Cash Flow?

Businesses generate a sources and uses of cash statement to evaluate their income and expenses and to check profitability. Similarly, a cash flow statement can help you evaluate your personal income and expenses and see if you are running 'in the red or the black' each month.

Calculators > College

College Financial Calculators

How Much Should I Be Saving For College?

With college costs increasing at twice the rate of inflation, it is important to start saving early. Interest working for you now in a regular savings program is much better than having interest work against you in the future in the form of education loans.

Feasibility Of Student Loan Repayment

When you borrow money for college you might not be thinking about your ability to repay the loan once you graduate. Outstanding student loan balances may infringe upon your ability to qualify for a home, auto and other personal loans.

What Are The Advantages Of A Coverdell ESA?

Tax-deferral can have a dramatic effect on the growth of an investment. With the new Coverdell ESA (formerly known as the Education IRA) your contributions can grow tax-deferred and distributed income tax-free as long as distributions are used for qualified education expenses. These costs can include school uniforms, computers, and transportation for elementary or secondary school, public, private or religious.

What Are The Advantages Of A 529 College Savings Plan?

Tax-deferral can have a dramatic effect on the growth of an investment. With a state-sponsored 529 College Savings Plan your contributions can grow tax-deferred (some states allow contributions to be partially or completely deductible) and distributed income tax-free as long as distributions are used for qualified education expenses such as tuition, fees, room and board at higher education institutions.

What Is The Value Of A College Education?

It may surprise you that, on average, an individual with a bachelor's degree earns more than fifty percent more than a worker with a high school diploma. Use this calculator to see the value of a college education.

What Are The Payments On A Parental (PLUS) Loan?

PLUS loans are low-interest federally insured loans for parents of undergraduate students to help pay a dependent student's college cost. PLUS loans are also available to graduate and professional students.

Should I Live At Home, On Campus, Or Off Campus?

Before deciding on room and board options when attending college, it may help to itemize and project expenses. These expenses will vary depending on whether you will commute from home, stay on campus or rent an apartment off campus.

When Should I Begin Saving For A Child's College?

When saving for college, compound interest can be your friend. However, the longer you wait to start saving the less interest you will accumulate and the more you will have to save.

Calculators > Credit

Credit & Debt Calculators

How Long Will It Take To Pay Off My Credit Card?

Americans today owe more money than ever before. The fact that 'interest never sleeps' means that the situation will continue to worsen unless steps are taken at the individual level to reduce or eliminate debt.

Should I Pay Off Debt Or Invest?

When you receive some extra money it may be difficult to determine whether you should invest the funds or use them to pay towards liabilities. Financial theory recommends that if your after-tax return on investments is greater than your after-tax cost of debt then you should invest.

Should I Transfer My Credit Card Balances?

You might realize significant monthly interest savings by transferring your higher rate credit card balances to a lower rate credit card.

What Is My Credit Score?

Although credit scores are calculated differently by the various credit bureaus, you can get an estimate of what your score may be by using this calculator. The three main things that help you have a good credit score are first, having a long history of making all debt payments on time, second using the proper mix of credit, and third not maxing out on available credit.

How Long Until My Loan Is Paid Off?

By making consistent regular payments toward debt service you will eventually pay off your loan.

What Would My Loan Payments Be?

The loan amount, the interest rate, and the term of the loan can have a dramatic effect on the total amount you will eventually pay on a loan.

Do I Have Too Much Debt?

How much debt is too much?

What Is The Balance On My Loan?

If you know your current payment, the interest rate and the term remaining, you can calculate your outstanding loan balance.

Should I Consolidate My Personal Debt Into A New Loan?

With interest rates at historical lows, it may make sense to consolidate some of your credit card and other personal debt into a new consolidated loan, typically a home-equity loan. Consolidation loans can significantly reduce your required monthly payment because they are generally amortized over 10 or 15 years.

Restructuring Debts For Accelerated Payoff

Over the last couple of years with interest rates at a 40-year low, many people refinanced their mortgages. Use this calculator to find out if refinancing makes sense for you.

Which Is Better: Cash Up Front Or Payments Over Time?

Use this calculator to help determine whether you are better off receiving a lump sum payment and investing it yourself or receiving equal payments over time from a third party.

What Is The Impact Of Making Extra Payments On My Debt?

Over the course of a loan amortization you will spend hundreds, thousands, and maybe even hundreds of thousands in interest. By making a small additional monthly payment toward principal, you can greatly accelerate the term of the loan and, thereby, realize tremendous savings in interest payments.

Tools & Resources

Financial Calculators

Interactive tools to help you plan your mortgage, debt payoff, and financial future

Calculators > Home and Mortgage

How Much Home Can I Afford?

When you're buying a home, mortgage lenders don't look just at your income, assets, and the down payment you have. They look at all of your liabilities and obligations as well, including auto loans, credit card debt, child support, potential property taxes and insurance, and your overall credit rating.

Which Is Better: Fixed Or Adjustable-Rate Mortgage?

It is a difficult decision to decide between a fixed and an adjustable-rate mortgage. Factors such as loan duration, the index used by the lender, the number and timing of rate adjustments, and your assumption about the increase/decrease of future interest rates all have an impact.

Adjustable Rate Mortgage Calculator

Unlike fixed rate mortgages, the payments on an adjustable rate mortgage will vary as interest rates change.

How Do Closing Costs Impact The Interest Rate?

If you choose to finance your closing costs, the monthly loan payments will be higher than if you had paid the closing costs out-of-pocket. In order to help borrowers compare loans, lenders use a standard calculation called annual percentage rates (APR) which takes into account the closing costs.

Compare An Interest-Only Versus Traditional Mortgage

An interest-only mortgage may be enticing due to lower initial payments than a traditional mortgage. However, when the interest-only loan begins to amortize after 5, 10 or 20 years then your monthly payments will be higher.

How Much Can I Borrow From My Home Equity (HELOC)?

Depending upon the market value of your home, outstanding mortgage balance, credit history and other factors, you may qualify for a home equity line of credit. Monthly payments on a HELOC are variable as they fluctuate with interest rate changes.

Restructuring Debts For Accelerated Payoff

Over the last couple of years with interest rates at a 40-year low, many people refinanced their mortgages. Even though rates have crept up over the last couple of months, refinancing may make sense for you.

Comprehensive Mortgage Calculator

The loan amount, the interest rate, and the term of the mortgage can have a dramatic effect on the total amount you will eventually pay for the property. Further, mortgage payments typically will include monthly allocations of property taxes, hazard insurance, and (if applicable) private mortgage insurance (PMI).

Comparing Mortgage Terms (i.e. 15, 20, 30 Year)

Different mortgage terms and rates can make the loan selection process confusing, especially if you don't plan on keeping the loan for the full term.

Should I Pay Discount Points For A Lower Interest Rate?

In some cases, it may benefit you to 'buy down the interest rate' by paying extra money up front in the form of discount points.

Should I Rent Or Buy A Home?

With interest rates near 40-year lows, the decision to rent versus buy becomes difficult.

Should I Convert To A Bi-Weekly Payment Schedule?

It may surprise you that most banks and mortgage companies collect two to three dollars for every dollar that you borrow! However, there is a way to accelerate mortgage payoff using a method called Bi-Weekly Mortgage Payments.

Compare A 'No-Cost' Versus Traditional Mortgage

Many lenders will offer a 'no-cost' loan in lieu of a traditional mortgage. 'No-cost' loans are generally priced at a higher interest rate than a traditional mortgage. The higher rate allows the lender to make enough money on the interest rate spread from the underwriter to pay for all your closing costs and provide them with their profit.

What Are The Tax Savings Generated By My Mortgage?

With the interest on a mortgage being deductible when you itemize deductions, it may surprise you how much you can save in taxes.

Calculators > Insurance

Financial Calculators

Please try our wide variety of interactive financial problem solvers. Simply enter your criteria and you'll get your questions answered with dynamic graphs and personalized reports.

How Much Life Insurance Do I Need?

Planning to meet the financial needs of your survivors is one of the most important and fundamental steps in creating a sound financial plan for you and your family.

What Is The Future Value Of An Annuity?

Unlike a taxable account, a fixed annuity enjoys the benefits of tax deferral. In addition, many annuity companies offer a higher first year bonus rate. To be able to offer these higher rates companies typically require you to keep the funds invested for a period of time or suffer a surrender penalty for early withdrawal.

Which Is Better, Comprehensive Plan Or High-Deductible Plan With HSA?

Health Savings Accounts (HSAs) are a form of medical savings account that must be accompanied by a high-deductible health insurance plan. HSAs allow individuals/employers to set aside money on a pre-tax or tax-deductible basis and then withdraw the money tax-free to pay qualifying medical expenses.

What Is My Life Expectancy?

With medical advances and improved lifestyles, life expectancies in the United States are on the rise.

What Are My Needs For Burial And Final Expenses?

Long gone are the days of being buried in a pinewood box. Funeral expenses can vary from several thousand dollars up to $15,000 and more depending on which services you select. Funeral homes and crematoriums provide a list of expenses some of which have been enumerated here.

How Much Disability Income Do I Need?

Your chances of becoming disabled are far greater than your chances of dying. It may surprise you that one out of three individuals will suffer a disability that lasts at least 90 days. One out of ten will be permanently disabled prior to age 65.

What Are My Chances Of Becoming Disabled?

It may surprise you that 33.7 million non-institutionalized Americans (or 12.2 percent of the population) experience limitations in usual activities due to chronic conditions.

What Are My Long-Term Care Needs?

There are basically three ways to fund your long-term care needs: self-insure, qualify for Medicaid, or obtain long-term care insurance.

How Much Will I Earn In My Lifetime?

Most people earn a small fortune during their lifetime. Yet many of them are unaware of how their annual income adds up over the years.

What Are The Tax Advantages Of An Annuity?

Deposits into an annuity are not tax-deductible, however you don't have to pay taxes on the interest earned until you begin making withdrawals. This tax-deferral period can have a dramatic affect on the growth of an investment.

How Long Will My Current Life Insurance Proceeds Last?

You may think that you are adequately insured in the event of your death. It may surprise how quickly the tax-free insurance proceeds may be depleted by your survivor income needs.

Calculators > Investment

Investment Calculators

Please try our wide variety of interactive financial problem solvers. Simply enter your criteria and you'll get your questions answered with dynamic graphs and personalized reports.

How Should I Allocate My Assets?

Over 90 percent of investment returns are determined by how investors allocate their assets versus security selection, market timing and other factors.

Certificate Of Deposit (CD) Analyzer

Use this calculator to help determine the potential interest growth and tax liability on your Certificate of Deposit.

What Is The Dividend Yield On A Stock?

Dividends paid by a corporation can make up a significant portion of the cash flow generated by a stock purchase.

How Do Expenses Impact Mutual Fund Returns?

It may surprise you how sales charges, management fees and lost opportunity cost can erode the total return on your mutual fund.

Certificate Of Deposit (CD) Laddering Strategy

Typically you can receive higher crediting rates on a CD if you commit to leaving your money with the bank for a longer period of time. This lack of liquidity causes many people to choose shorter-term CDs at the expense of receiving the higher interest rates. CD laddering is a strategy that gives you the benefit of receiving the higher-interest crediting rates of longer term CDs but still provide you with some liquidity.

Share Certificate Analyzer

Use this calculator to help determine the potential interest growth and tax liability on your Share Certificate.

Share Certificate Laddering Strategy

Typically you can receive higher crediting rates on a Share Certificate if you commit to leaving your money with the bank for a longer period of time. This lack of liquidity causes many people to choose shorter-term Share Certificates at the expense of receiving the higher interest rates. Share Certificate laddering is a strategy that gives you the benefit of receiving the higher-interest crediting rates of longer term Share Certificates but still provide you with some liquidity.

Compare Taxable Versus Tax-Free Investment Return

Many investments are taxed differently. For example with bonds, some may be taxed federally only, some may be taxed at the state level only, and some may be taxed both at the state and federal level.

What Is The Value Of A Bond?

Bond values are very sensitive to market interest rates. For example, if you purchased bond with a stated/coupon rate of 10% and market rates had declined to 8% since you purchased the bond, then the value of your 10% bond in a market crediting 8% would be higher.

What Is The Return On My Real Estate Investment?

Purchase price, loan terms, appreciation rate, taxes, expenses and other factors must be considered when you evaluate a real estate investment.

What Is The Value Of Compound Interest?

Compound interest can have a dramatic effect on the growth of an investment.

What Is The Value Of A Call Or Put Option?

A Call option represents the right (but not the requirement) to purchase a set number of shares of stock at a pre-determined 'strike price' before the option reaches its expiration date. A call option is purchased in hopes that the underlying stock price will rise well above the strike price, at which point you may choose to exercise the option. Exercising a call option is the financial equivalent of simultaneously purchasing the shares at the strike price and immediately selling them at the now higher market price.

Taxable Versus Tax-Deferred Savings?

Tax-deferral can have a dramatic effect on the growth of an investment.

What Is My Risk Tolerance?

On your way home from work, do you drive in the slow lane or the fast lane? Each person has a different propensity for risk. When investing, this risk propensity can be used to determine the percentage of your portfolio that is exposed to equities.

What Is The Long-Term Impact Of Increased Investment Return?

It may surprise you how much more you could accumulate in savings simply by repositioning assets to achieve potentially a slightly higher return.

Paycheck and Benefits

Please try our wide variety of interactive financial problem solvers. Simply enter your criteria and you'll get your questions answered with dynamic graphs and personalized reports.

How Much Will My Company Bonus Net After Taxes?

A bonus from your employer is always a good, however, you may want to estimate what you will actually take-home after federal withholding taxes, social security taxes and other deductions are taken out.

What Is The Impact Of Increasing My 457 Plan Contribution?

It may surprise you how significant your retirement accumulation may be simply by increasing the percent of your salary that you save each month in your 457 Plan.

What May My 403(b) Plan Be Worth?

It may surprise you how significant your retirement accumulation may become simply by saving a small percentage of your salary each month in your 403(b) Plan.

What Is The Impact Of Increasing My 403(b) Contribution?

It may surprise you how significant your retirement accumulation may be simply by increasing the percent of your salary that you save each month in your 403(b).

How Will Payroll Adjustments Affect My Take-Home Pay?

Many factors can affect your eligibility and contribution limits to either the Traditional IRA or Roth IRA - tax filing status, your current earned income level and whether or not you participate in a retirement plan at work.

Convert My Salary To An Equivalent Hourly Wage

Use this calculator to determine what your hourly wage equates to when given your annual salary - it may surprise you what you make on an hourly basis.

Convert My Hourly Wage To An Equivalent Annual Salary

Use this calculator to determine your equivalent annual salary when given what you get paid per hour - it may surprise you what you make on a yearly basis.

What Is The Future Value Of My Employee Stock Options?

Your company-issued employee stock options may not be 'in-the-money' today but assuming an investment growth rate may be worth some money in the future.

Should I Exercise My 'In-The-Money' Stock Options?

When your employee stock options become 'in-the-money', where the current price is greater than the strike price, you can choose from one of three basic sell strategies.

What May My 401(k) Be Worth?

It may surprise you how significant your retirement accumulation may become simply by saving a small percentage of your salary each month in your 401(k) plan.

What Is The Impact Of Increasing My 401(k) Contribution?

It may surprise you how significant your retirement accumulation may be simply by increasing the percent of your salary that you save each month in your 401(k).

What May My 457 Plan Be Worth?

It may surprise you how significant your retirement accumulation may become simply by saving a small percentage of your salary each month in your 457 Plan. Use this calculator to estimate how much your plan may accumulate for retirement.

Interactive Tools

Financial Calculators

Please try our wide variety of interactive financial problem solvers. Simply enter your criteria and you'll get your questions answered with dynamic graphs and personalized reports.

Calculators > Qualified Plans

Evaluate My Company Pension Payout Options

When you reach retirement, and if your company provides a pension program, you will be offered a number of payout options. Typically, they will be the Single Life and the Joint Survivor payout options.

What Is The Impact Of Borrowing From My 401(k) Plan?

Some qualified retirement plans include the option for qualifying participants to a take a loan against their retirement account balance. Many people borrow from their retirement plan to pay off high-interest debt or to make a major purchase.

What Is The Impact Of Early Withdrawal From My 401(k)?

Many people feel the need to withdraw funds from their 401(k) plan due to hardship or other emergency.

Self-Employed Retirement Plan Maximum Contribution Calculator

Compensation for a self-employed individual (sole proprietor or partner) is that person's earned income. The starting point to determine the individual's earned income is the net profit amount from the Schedule C (or Schedule K-1 for a partnership).

Net Unrealized Appreciation (NUA) Versus IRA Rollover

Consideration of NUA strategy is important if you are distributing highly appreciated employer securities from your prior employer's qualified plan, such as 401(k). Cost basis, the value of the employer contribution on your behalf is subject to ordinary income tax upon distribution.

What Are My Stretch IRA Distributions?

By naming a beneficiary on your IRA account it will provide the beneficiary the opportunity to "stretch" out the IRA proceeds over his/her life expectancy. This gives the beneficiary more time to take advantage of tax-deferral status of the IRA assets.

How Much Can I Contribute To An IRA?

Many factors can affect your eligibility and contribution limits to either the Traditional IRA or Roth IRA - tax filing status, your current earned income level and whether or not you participate in a retirement plan at work.

How Much Retirement Income May My IRA Provide?

Your retirement income can vary widely depending on what type of IRA holds your savings and what assumptions you make about return and tax rates during the accumulation and withdrawal periods.

Should I Convert To A Roth IRA?

Roth IRA is a great way for clients to create tax-free income from their retirement assets. Yet, keep in mind that when you convert your taxable retirement assets into a Roth IRA you will generally pay ordinary income tax on the taxable amount that is converted.

What Will My Qualified Plan(s) Be Worth At Retirement?

It may surprise you how significant your retirement accumulation may be simply by contributing regularly to a qualified plan.

What Is My Current Year Required Minimum Distribution?

Current tax law specifies that once you reach a certain age, you must begin taking RMDs annually from your IRAs and other retirement plans. Generally, the RMD amount is determined based on your prior year's IRA balance of all of your IRA assets divided by your life expectancy.

What Is My Projected Required Minimum Distribution?

Current tax law specifies that once you reach a certain age, you must begin making taxable withdrawals from your Traditional IRAs and many other retirement plans. These minimum distributions are calculated annually based on your age, account balance at the end of the previous year, marital status and spouse's age.

What Are My Lump Sum Distribution Options?

You've spent a long time accumulating funds in your retirement account. When you retire and take distribution of your funds you have many options to consider.

How Do I Maximize My Employer 401(k) Match?

Many employees are not taking full advantage of their employer's matching contributions. Use this calculator to figure out how.

Calculators

Calculators > Retirement

Please try our wide variety of interactive financial problem solvers. Simply enter your criteria and you'll get your questions answered with dynamic graphs and personalized reports.

How Will Retirement Impact My Living Expenses?

Your living expenses may increase or decrease at retirement but will likely not stay the same. You may travel more, reduce business expenses such as eating out and transportation costs, perhaps your house will be paid off.

Compare The Roth 401(k) To A Traditional 401(k)

Your retirement income can vary widely depending on what type of account holds your savings and what assumptions you make about return and tax rates during the accumulation and withdrawal periods.

How Much Will I Need To Save For Retirement?

Retirement can be the saddest or happiest day of your life. This pre-retirement calculator will help you determine how well you have prepared and what you can do to improve your retirement outlook. It is important that you re-evaluate your preparedness on an ongoing basis.

Are My Current Retirement Savings Sufficient?

One method of retirement planning is to project what you are currently saving and have accumulated to date and see if you will have enough to meet your retirement objectives.

Social Security Retirement Income Estimator

Depending upon your current earnings, Social Security can be a significant part of your retirement income. However, many factors will impact the benefit you may receive. Use this calculator to approximate your Social Security benefit.

How Does Inflation Impact My Retirement Income Needs?

It may surprise you how the much inflation can erode purchasing power.

I'm Retired, How Long Will My Savings Last?

Due to increasing life expectancies, many are running into the problem of outlasting their savings. Use this calculator to help determine when your retirement savings account may be depleted given a specified monthly income target.

When Should I Begin Saving For Retirement?

A penny saved is a penny earned, but a penny saved today is a penny potentially earning more.

Should I Convert Discretionary Expenses To Savings?

It may surprise you how much you can accumulate for retirement simply by foregoing a few luxuries such as a one-time purchase of a boat or cabin, or trimming back recurring monthly expenses such as eating out, movies, magazine subscriptions, cable tv programming, video rentals, vending machines, etc.

How Much Retirement Income May My 401(k) Provide?

It may surprise you how significant your retirement accumulation may become simply by saving a small percentage of your salary each month in your 401(k) plan.

Interactive Tools

Financial Calculators

Please try our wide variety of interactive financial problem solvers. Simply enter your criteria and you'll get your questions answered with dynamic graphs and personalized reports.

Calculators > Saving

Becoming A Millionaire

It may surprise you how quickly you can accumulate a million dollars.

What Is The Effective Annual Yield On My Investment?

The number of compounding periods per year will affect the total interest earned on an investment. For example, if an investment compounds daily it will earn more than the same investment with the same stated/nominal rate compounding monthly.

Income Generated By A Savings Plan

Saving regularly can help you achieve your future income goals.

How Long Will It Take To Double My Savings?

Compound interest can have a dramatic affect on the growth of a single deposit. By dividing 72 by your investment return you can determine the amount of time required for your money to be worth about twice as much as it is today.

How Long Until My Savings Reach My Goal?

Compound interest can have a dramatic affect on the growth of a single deposit.

Save Now Versus Save Later

A penny saved is a penny earned, but a penny saved today is a penny earning more. It is important to start saving as soon as possible for events such as retirement due to the impact of compounding. If you start saving now you will need to save considerably less than if you wait a few years.

How Much Should I Save To Reach My Goal?

What are you saving for: a computer, car, boat, summer home, down payment?

What Will My Current Savings Grow To?

Compound interest can have a dramatic effect on the growth of series of regular savings and initial lump sum deposits.

Calculate Rate Of Return

The rate of return (ROR), sometimes called return on investment (ROI), is the ratio of the yearly income from an investment to the original investment. The initial amount received (or payment), the amount of subsequent receipts (or payments), and any final receipt (or payment), all play a factor in determining the return.

How Do Taxes And Inflation Impact My Investment Return?

Taxes and inflation can have a dramatic effect on the growth of an investment.

Interactive Tools

Financial Calculators

Calculators > Taxation

Please try our wide variety of interactive financial problem solvers. Simply enter your criteria and you'll get your questions answered with dynamic graphs and personalized reports.

What Is My Potential Estate Tax Liability?

Use this federal estate tax calculator to estimate your tax liability.

Should I Itemize Or Take The Standard Deduction?

If you have numerous itemized deductions such as mortgage interest, charitable contributions, etc., it may make sense for you to itemize your deductions instead of using the standard deduction for your tax filing status.

What Is My Tax-Equivalent Yield?

Tax-free investments such as municipal bonds have lower yields due to their tax-exempt status.

Tax Refund Estimator

Did you withhold enough in taxes this past year?

Tax Freedom Day

It might surprise you how many days you would have to work to pay your estimated federal tax liability (including Social Security tax withholdings).

Federal Income Tax Estimator

Taxes are unavoidable and without planning, the annual tax liability can be very uncertain.

Should I Adjust My Payroll Withholdings?

Each April many taxpayers are surprised as they realize that they have either over withheld or under withheld on their taxes. Use this calculator each year to help determine whether you are likely to be on target based on your current withholding status.

Will My Investment Interest Be Deductible?

Interest paid on debts incurred in order to invest (such as 'margin accounts') is generally deductible to the extent that it offsets investment income (such as interest, dividends and short term capital gains). Interest payments in excess of investment income can be carried forward in hopes of offsetting future investment income.

How Much Self-Employment Tax Will I Pay?

Self-employment taxes are comprised of two parts: Social Security and Medicare. You will pay 6.2 percent and your employer will pay Social Security taxes of 6.2 percent up to the annual limit. This limit changes each year with changes in the national average wage index. You each also pay Medicare taxes of 1.45 percent on all your wages - no limit. If you are self-employed, your Social Security tax rate is 12.4 percent and your Medicare tax is 2.9 percent on those same amounts of earnings but you are able to deduct the employer portion. You will pay an additional 0.9% Medicare tax on the amount that your annual income exceeds $200,000 for single filers, $250,000 for married filing jointly, and $125,000 married filing separate. Use this calculator to estimate your self-employment taxes.

Capital Gains (Losses) Tax Estimator

Federal taxes on your net capital gain(s) will vary depending on your marginal income tax bracket and holding period of the asset.

Compare Taxable, Tax-Deferred And Tax-Free Investment Growth

Investment vehicles are taxed differently. This calculator is intended to help compare a fully taxable investment to two tax advantaged situations.

How Much Of My Social Security Benefit May Be Taxed?

Did you know that up to 85% of your Social Security Benefits may be subject to income tax? If this is the case you may want to consider repositioning some of your other income to minimize how much of your Social Security Benefit may be taxed and thereby, maximize your retirement income sources.

What Are The Tax Implications Of Paying Interest?

Interest paid may or may not be tax-deductible depending on the type of interest paid.

Tools

Financial Calculators

Interactive tools to help you plan your loans, budgets, and investments

Calculators > Auto

Should I Lease Or Purchase An Auto?

Leasing has become a very popular method of acquiring a new auto. Although the payments may seem attractive, it may not always be the best financial decision versus purchasing the vehicle outright and financing it with a low interest loan.

Auto Purchase: Loan Versus 0% Dealer Financing?

At first glance, 0% financing appears to be the best option when purchasing an auto. However, if you choose to finance through a bank or credit union you may be eligible for a dealer rebate.

What Would My Auto Payments Be?

Many factors go into determining the final loan amount for the purchase of a new or used vehicle. These factors include any manufacturer's rebate, the trade-in value of your old vehicle less any outstanding balance, your down payment, etc.

Should I Upgrade To A More Fuel Efficient Vehicle?

It may make financial sense for you to sell your current vehicle and purchase one with better gas mileage. Taking into account the monthly savings at the pump, the financial question is how many months will it take you to recover the out-of-pocket costs you incur with the purchase of a new vehicle.

Auto Loan: Accelerated Payoff

By making a small additional monthly payment toward principal, you can greatly accelerate the term of your auto loan and, thereby, realize tremendous savings in interest payments.

How Much Vehicle Can I Afford?

Experts suggest that you should not allocate more than 20% of your take-home pay towards monthly auto payments. The down payment, interest rate, and term of your loan will also determine how much you can afford to buy.

Should I Refinance My Auto Loan At A Lower Rate?

Without increasing the term remaining on your existing loan, you will be able to save interest with a new loan at a lower rate.

How Much Can I Lower My Monthly Payment With A New Auto Loan?

With interest rates at record lows, it may make sense for you to investigate whether or not refinancing your auto loan could save you some money. Adjusting the term of your existing auto loan may also make a big difference in your monthly loan payment.

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Financial Calculators

Please try our wide variety of interactive financial problem solvers. Simply enter your criteria and you'll get your questions answered with dynamic graphs and personalized reports.

Calculators > Business

What Are The Tax Savings Of A Qualified Retirement/Cafeteria Plan?

Implementation of a Qualified Plan and/or Section 125 Cafeteria Plan can result in significant tax savings and benefits to both the employer and employee.

What Are My New Business Startup Costs?

Before you launch a new venture, you should take the time to estimate the total capital that will be needed. Startup costs are divided into two main categories: one-time startup costs and recurring monthly expenses. Depending on when you expect to receive payments for your goods and services, it may be wise to begin with several months of working capital.

Should I Pay Or Charge Monthly, Quarterly Or Annually?

Use this APR calculator to help determine whether it makes sense financially for you to pay your creditors and/or bill your customers either monthly, quarterly or semi-annually.

What Is The Value Of My Business?

Similar to bond or real estate valuations, the value of a business can be expressed as the present value of expected future earnings.

How Many Units Do I Need To Sell To Break Even?

Given your profit margin, it is important to know how many units of a certain product that you will need to sell in order to cover your fixed/startup costs.

Should I Lease Or Buy Equipment?

Leasing is a popular method of acquiring new equipment for your business. Although the payments may seem attractive, it may not always be the best financial decision versus purchasing the equipment outright and financing it with a low interest loan.

What Are My Business Financial Ratios?

A regular review of your company's financial ratios can help you focus on areas that may need improvement. Liquidity, efficiency, and profitability ratios, compared with other businesses in your industry, can highlight any strengths and weaknesses you might have over your competition.

What Is My Employee Total Compensation Package Worth?

Your employees may be surprised to find out how much is paid out in other benefits in addition to their salaries. The employer has both required and discretionary payments that it makes on behalf of the employee.

What Are My Tax Savings With Section 179 Deduction?

Section 179 of the IRS tax code gives businesses the opportunity to deduct the FULL purchase price of qualifying new and used equipment, and software placed into service during the tax year they were purchased or financed. This tax break encourages small businesses to invest in themselves and to purchase equipment sooner rather than later. There are some limits, however, to the amount that can be written off. Use this calculator to help determine your Section 179 write off amount and the tax savings it might generate for you.

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State Tax Forms

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Record Retention Guide

Storing tax records: How long is long enough?

Retention Period	Business Records To Keep	Personal Records To Keep
1 Year	Correspondence, Deposit Slips, Purchase Orders, Receiving Sheets, Requisitions, Notebooks, Stockroom Forms	Bank Statements, Paycheck Stubs, Canceled checks, Monthly/quarterly contribution statements
3 Years	Employee Personnel Records, Applications, Expired Insurance, General Correspondence, Internal Audits/Reports, Petty Cash, Inventory Tags, Savings Bond Records, Time Cards	Credit Card Statements, Medical Bills, Utility Records, Expired Insurance Policies
6 Years*	Accident Reports, Payables/Receivables Ledgers, Bank Statements, Cancelled Checks, Employment Tax, Expense Analysis, Leases, Inventories, Invoices, Payroll, Time Books, Vouchers	Tax Return Support, Accident Reports, Medical Bills (tax-related), Property Records, Sales Receipts, Wage Garnishments
Forever	Audit Reports, Cancelled Checks (Important), Cash Books, Contracts, Corporate Documents, Deeds, Depreciation Schedules, Financial Statements, Ledgers, Minute Books, Mortgages, Tax Returns	CPA Audit Reports, Legal Records, Important Correspondence, Income Tax Returns, Payment Checks, Investment Trades, Retirement/Pension Records

*Records related to a bad debt deduction or a loss claimed for worthless securities should be kept for 7 years.

Create a Backup Set of Records and Store Them Electronically

Keeping a backup set of records -- including, for example, bank statements, tax returns, insurance policies, etc. -- is easier than ever now that many financial institutions provide statements and documents electronically, and much financial information is available on the Internet.

Even if the original records are provided only on paper, they can be scanned and converted to a digital format. Once the documents are in electronic form, taxpayers can download them to a backup storage device, such as an external hard drive, or burn them onto a CD or DVD (don't forget to label it).

You might also consider online backup, which is the only way to ensure that data is fully protected. With online backup, files are stored in another region of the country, so that if a hurricane or other natural disaster occurs, documents remain safe.

Caution: Identity Theft

Identity theft is a serious threat in today's world, and it is important to take every precaution to avoid it. After it is no longer necessary to retain your tax records, financial statements, or any other documents with your personal information, you should dispose of these records by shredding them and not disposing of them by merely throwing them away in the trash.

Detailed Business Retention Guidelines

Business Documents To Keep For One Year

Correspondence with Customers and Vendors
Duplicate Deposit Slips
Purchase Orders (other than Purchasing Department copy)
Receiving Sheets
Requisitions
Stenographer's Notebooks
Stockroom Withdrawal Forms

Business Documents To Keep For Three Years

Employee Personnel Records (after termination)
Employment Applications
Expired Insurance Policies
General Correspondence
Internal Audit Reports
Internal Reports
Petty Cash Vouchers
Physical Inventory Tags
Savings Bond Registration Records of Employees
Time Cards For Hourly Employees

Business Documents To Keep For Six* Years

Accident Reports, Claims
Accounts Payable Ledgers and Schedules
Accounts Receivable Ledgers and Schedules
Bank Statements and Reconciliations
Cancelled Checks
Cancelled Stock and Bond Certificates
Employment Tax Records
Expense Analysis and Expense Distribution Schedules
Expired Contracts, Leases
Expired Option Records
Inventories of Products, Materials, Supplies
Invoices to Customers
Notes Receivable Ledgers, Schedules
Payroll Records and Summaries, including payment to pensioners
Plant Cost Ledgers
Purchasing Department Copies of Purchase Orders
Sales Records
Subsidiary Ledgers
Time Books
Travel and Entertainment Records
Vouchers for Payments to Vendors, Employees, etc.
Voucher Register, Schedules

*Records related to a bad debt deduction or a loss claimed for worthless securities should be kept for 7 years.

Business Records To Keep Forever

While federal guidelines do not require you to keep tax records "forever," in many cases there will be other reasons you'll want to retain these documents indefinitely.

Audit Reports from CPAs/Accountants
Cancelled Checks for Important Payments (especially tax payments)
Cash Books, Charts of Accounts
Contracts, Leases Currently in Effect
Corporate Documents (incorporation, charter, by-laws, etc.)
Documents substantiating fixed asset additions
Deeds
Depreciation Schedules
Financial Statements (Year-End)
General and Private Ledgers, Year-End Trial Balances
Insurance Records, Current Accident Reports, Claims, Policies
Investment Trade Confirmations
IRS Revenue Agents' Reports
Journals
Legal Records, Correspondence and Other Important Matters
Minute Books of Directors and Stockholders
Mortgages, Bills of Sale
Property Appraisals by Outside Appraisers
Property Records
Retirement and Pension Records
Tax Returns and Worksheets
Trademark and Patent Registrations

Detailed Personal Retention Guidelines

Personal Documents To Keep For One Year

Bank Statements
Paycheck Stubs (reconcile with W-2)
Canceled checks
Monthly and quarterly mutual fund and retirement contribution statements (reconcile with year-end statement)

Personal Documents To Keep For Three Years

Credit Card Statements
Medical Bills (in case of insurance disputes)
Utility Records
Expired Insurance Policies

Personal Documents To Keep For Six* Years

Supporting Documents For Tax Returns
Accident Reports and Claims
Medical Bills (if tax-related)
Property Records / Improvement Receipts
Sales Receipts
Wage Garnishments
Other Tax-Related Bills

*Records related to a bad debt deduction or a loss claimed for worthless securities should be kept for 7 years.

Personal Records To Keep Forever

CPA Audit Reports
Legal Records
Important Correspondence
Income Tax Returns
Income Tax Payment Checks
Investment Trade Confirmations
Retirement and Pension Records

Special Circumstances

Car Records (keep until the car is sold)
Credit Card Receipts (keep with your credit card statement)
Insurance Policies (keep for the life of the policy)
Mortgages / Deeds / Leases (keep 6 years beyond the agreement)
Pay Stubs (keep until reconciled with your W-2)
Property Records / improvement receipts (keep until property sold)
Sales Receipts (keep for life of the warranty)
Stock and Bond Records (keep for 6 years beyond selling)
Warranties and Instructions (keep for the life of the product)
Other Bills (keep until payment is verified on the next bill)
Depreciation Schedules and Other Capital Asset Records (keep for 3 years after the tax life of the asset)

Tax Center

IRS Tax Forms and Publications

Find IRS Tax Forms. Enter keywords here:

View or Print State Tax Forms here.

The publications listed below are located on the IRS website and require Adobe Acrobat Reader to view. Visit the Adobe website to install the latest version of Acrobat Reader. Click a publication to view it online.

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