October marked our 40th anniversary of serving the Louisville area community. In addition to honoring the event with a DMLO Day of Service, we shared a wonderful evening of dinner, dancing and celebration at the Olmsted with many of the people that have poured their heart, soul and talents into creating the successful firm we have today. Here are a few highlights from the evening. Continue reading
Monthly Archives: November 2015
Did you know that the Bipartisan Budget Act of 2015 contains a provision that can significantly affect the retirement planning of many Americans, likely costing them thousands of dollars in Social Security benefits? The provision eliminates two strategies that many … Continue reading
Year-end tax planning this year will be just as complicated as it was last year because of uncertainty surrounding many expired tax breaks for individuals and businesses. Tax legislation signed into law last December extended several expired breaks, but only … Continue reading
The IRS has issued its cost-of-living adjustments for 2016. Inflation remains low, so many amounts are the same as last year, and those that did increase did so only modestly. Nonetheless, it’s helpful to know the 2016 amounts as you … Continue reading
The rules for required minimum distributions (RMDs) can be confusing, frustrating and potentially expensive for retirement savers and their beneficiaries. Taking — or not taking — RMDs can have a substantial impact on your tax liability. Distributions generally are taxable … Continue reading
The Ky Small Business Tax Credit (KSBTC) program allows eligible small businesses to apply for a non-refundable Kentucky state income tax credit ranging from $3,500 to $25,000. Eligible small businesses include for-profit entities that have 50 or fewer full-time employees, and have created and sustained (for 12 months) at least one new full-time job (at $10.88/hr or more), and purchased at least $5,000 of qualifying equipment or technology.
If you apply by November 20, 2015, you can be approved in time to claim the credit on your 2015 taxes. Before applying, you should review the KSBTC Guidelines to confirm eligibility. Continue reading