Section 530A accounts, also known as ''Trump Accounts,'' offer a new tax-advantaged way to save for a child's future. Learn who qualifies, how contributions work, the tax benefits available and what happens when the child turns 18. A sidebar compares these accounts with Section 529 plans.
Access to capital can help businesses manage cash flow, invest in growth and respond to unexpected challenges. Understanding the differences between lines of credit, term loans, government loan programs, equipment leases and alternative funding sources can help businesses choose the financing solution that best supports their goals.
Advance payments generally must be included in taxable income when received. However, eligible accrual-basis businesses may be able to defer recognizing a portion of that income until the following tax year. Understanding the rules now could help uncover valuable tax-planning opportunities before year end.
Estate planning isn't just for married couples and families. This article explains how single individuals can use wills, powers of attorney and other planning strategies to help ensure their wishes are carried out.