Is Your HSA a Retirement Tool?

Posted on 22. Aug, 2017 by in Bookkeeping Articles, Small Business Tips

The Good, the Bad and the Ugly Health Savings Accounts (HSAs) are a great way to pay for medical expenses, and since unused funds roll over from year to year, the account can also provide a source of retirement savings in addition to other plans like 401(k)s or IRAs. But be aware HSAs can also […]

Continue Reading →

The Most- and Least-Taxed States for Retirement

Posted on 15. Aug, 2017 by in Bookkeeping Articles, Small Business Tips

When it comes to choosing where to live during retirement, weather isn’t the only consideration. State and local tax laws have a big impact on your nest egg. The charts here show the highest and lowest state tax rates and costs of living, from data provided by nonprofit think tanks the Tax Foundation and the […]

Continue Reading →

How Much Do You Need to Retire?

Posted on 24. Jul, 2017 by in Bookkeeping Articles, Small Business Tips

Most Americans simply don’t save enough for retirement. Nearly half of working-age households don’t have any retirement assets, according to the National Institute on Retirement Security. Of those working-age households close to retirement (age 55 and above) nearly two-thirds have less than one year’s worth of their annual salary in retirement savings. The goal: a […]

Continue Reading →

What to Do With Your Social Security Statement

Posted on 18. Oct, 2016 by in Bookkeeping Articles, Services, Small Business Tips

The Social Security Administration is now doing a better job in sending out earnings reports by mailing paper statements to workers every five years beginning at age 25. The reports are also available online. These reports recap historic earnings and contain an estimate of potential benefits. When you receive your report, spend a few minutes […]

Continue Reading →

7 Tips for Early Retirement

Posted on 15. Sep, 2016 by in Bookkeeping Articles, Services, Small Business Tips

When would you like to retire? Even if the answer is later versus sooner, most of us would like the freedom to decide. To do this, consider what it would take to create financial independence in retirement. Here are some ideas to help plan for an early retirement. 1) Start early. Establish your desire to […]

Continue Reading →

Social Security Retirement Calculator

Posted on 08. Sep, 2016 by in Services, Small Business Tips, Tax Updates, Website Resource

If you are approaching retirement and are not sure what your benefits would be at retirement or perhaps waiting until you’re 70, check out the Social Security Administration’s website and use their Retirement Estimator: https://www.ssa.gov/retire/estimator.html. This tool pulls your earnings history and provides you with a customized estimate of your benefit at your retirement age.

Continue Reading →

Five Essential Components of an Entrepreneur’s Compensation

Posted on 14. May, 2014 by in Small Business Tips, VirtualConnections Newsletter

By Linda Siniscal The two major ways entrepreneurs can take money from their business is through draws or by receiving a paycheck.  The type of entity in which their business is set up will determine which method can be used. In either case, entrepreneurs need to be careful not to shortchange themselves. Especially if you’re […]

Continue Reading →

Making Succession Planning a More Thoughtful—and Effective–Process

Posted on 15. Oct, 2013 by in VirtualConnections Newsletter

By Tom Froehlich, Froehlich Financial Many of our clients are entrepreneurs who have invested years of time, money, and sweat equity to bring a dream to life through an enterprise. This dream has supported their families, provided a valuable service, and may have offered value to investors either privately or through the public markets. So […]

Continue Reading →