Just south of ‘Sawmill Creek…..Hi Attorney Kevin Pritchett here Before I answer the question of “Will Social Security Run Out? I have to explain how Social Security is funded and hence how you are taxed for it. How Much Social Security Tax Will You Pay? Social Security taxes are paid on amount of all wages […]
Just south of ‘Sawmill Creek…..Hi Attorney Kevin Pritchett here Business Structure Part 2“Which Business Entity Structure Is Right For You?” Today, I’ll cover the ‘Sub Chapter S’ Corporation structure. Let’s dive in.Sub Chapter S Corporation The most simple corporation structure is the Sub Chapter S Corporation. Like all corporations, the Sub […]
Just south of Saw Mill Creek… Hey Kevin Pritchett here: Recent stock market gyrations got you worried? Don’t lie…you KNOW you’re worried…and you SHOULD BE!! Can you…–afford to lose 10%…20% or more of your retirement portfolio? –devote the time it would take to recover any losses (aka postpone retirement…aka WORK LONGER???? I KNOW you can’t…NOBODY […]
Just south of ‘Sawmill Creek…..Hi Attorney Kevin Pritchett here “Social Security Survivor Benefits: How Much Do I Get?” As I’ve shared with you previously Social Security is a convoluted and complicated benefit maze. You CANnavigate it but you’ll need to know the lay of the land. Today I’ll go over SURVIVOR BENEFITS. […]
Just south of ‘Sawmill Creek…..Hi Attorney Kevin Pritchett hereBusiness Structure Part I”Which Business Entity Structure Is Right For You?” As you can see from the chart above the answer to the “which entity structure’ should I use?” question is REALLY about….. TAXES More specifically, saving taxes. Also PERSONAL LIABILITY Starting with this newsletter, I […]
Just south of ‘Sawmill Creek…..Hi Attorney Kevin Pritchett here“What Is A Roth IRA?” There are two basic types of IRA retirement accounts. ==The Regular IRA ==The Roth IRA A Regular IRA: ==$6,000 annual deposit limit ($1,000 catch up if over age 50) ==money grows tax deferred during your working years ==at retirement you get […]
Just south of ‘Sawmill Creek…..Hi Attorney Kevin Pritchett here: “What Is A Power of Attorney For Health Care?” A Power of Attorney For Heath Care is a document you sign that gives the person you designate the power to make medical decisions for you in the event you are unable to make decisions for […]
Just south of ‘Sawmill Creek…..Hi Attorney Kevin Pritchett hereQualified Business Income Deduction The new tax bill, The Tax Cut And Jobs Act Bill contains a brand new business deduction:the Qualified Business Income Deduction. Eligible taxpayers may be entitled to a deductionof up to 20 percent of qualified business income(QBI) from a domestic business operated […]
Just south of ‘Sawmill Creek…..Hi Attorney Kevin Pritchett here“Are My Social Security Benefits Taxed?” There’s good news and bad news…. The good news: If you don’t have any other income other than your Social Security, chances are you won’t pay much tax. The bad news: If you’re like MOST peopleand you’re receiving other income […]
just south of ‘Sawmill Creek…..Hi Attorney Kevin Pritchett here 2019 Qualified Retirement Plan Contribution Limits A ‘Qualified’ Retirement Plan is a plan==savings program just for retirement==money placed in grows tax deferred==special tax rules apply to each type of qualified plan 2019 Qualified Plan Contribution LimitsThe saying ‘there’s no free lunch ‘applies equally to Qualified Retirement […]