Eckhoff Accounting News & Resources

The Tax Benefits of Staying Single

The Tax Benefits of Staying Single


Have you ever heard of the marriage penalty? It means you could be taxed more as a married couple than you would as single people making the same amount of money. This is because single filers almost always have higher income thresholds when moving to higher tax brackets.

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You’re getting audited – here’s what to do

You’re getting audited – here’s what to do


Most of us will never be audited.  But when it does happen, it might feel a little scary.  The truth of the matter is IRS auditors do audits every day.  They know what to look for and can ask questions that you may easily answer incorrectly.

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Don’t let “founder’s syndrome” impede your succession plan

Don’t let “founder’s syndrome” impede your succession plan


Are you the founder of your company? If so, congratulations — you’ve created something truly amazing! And it’s more than understandable that you’d want to protect your legacy: the company you created.  But, as time goes on, it becomes increasingly important that you give serious thought to a succession plan.

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Why you should boost your 401(k) contribution rate between now and year end?

Why you should boost your 401(k) contribution rate between now and year end?


One important step to both reducing taxes and saving for retirement is to contribute to a tax-advantaged retirement plan.  If your employer offers a 401(k) plan, contributing to that is likely your best first step.

If you’re not already contributing the maximum allowed, consider increasing your contribution rate between now and year end.  

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Getting beaten up by your small business? We’ll give you sound advice. Learn more.

Getting beaten up by your small business? We’ll give you sound advice. Learn more.


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