Executive Summary Enjoy the current installment of “weekend reading for financial planners” – this week’s edition kicks off with the news of a new show to debut this weekend on CNBC that will feature not stock-picking entertainment but actual financial planning advice from real financial advisors (featuring advisor and media personality Josh Brown) in what may be […]
What Is Earned Income?
When you own or work for a business, you receive earned income. But, not all income is earned income. Both business owners and employees should understand what is earned income to determine tax liability and tax credit eligibility. So, what is it? What is earned income? Earned income is the total taxable compensation (e.g., wages […]
Kitces & Carl Ep 33: Triaging Clients Efficiently Through Critical Financial Care
Executive Summary As the Coronavirus pandemic has caused significant economic disruption around the world, financial advisors have been faced not only with the daunting challenge of not only how best to stay abreast of the rapidly evolving legislative landscape offering assistance to individuals and businesses in need of financial relief but also in how best […]
Out of constraints comes creativity, out of chaos comes growth: Ashton McGill share their silver linings during Covid-19
In the face of crisis, we all have to find ways to adapt and come out the other side stronger. “The main thing we’ve had to pivot is how we maintain our culture remotely and keep providing the same level of service to our clients,” says Andy McGill co-founder of Xero award-winning practice, Ashton McGill. […]
Key EOFY dates for Australians to watch in the wake of COVID-19 and bushfires
As we enter the end of the financial year in Australia, it’s worth noting changes that the coronavirus and the summer bushfires have had on key deadlines for EOFY. The ATO has extended some lodgement and payment dates. Here are some notable deadlines for the 2019-20 tax year: Key dates to watch 15 May – […]
Tech Outreach moves online
How do you continue to engage youth and educators, showcasing opportunities in tech while under lockdown? In the Tech Outreach space, the large majority of initiatives have been event based. I’m a big believer in introducing students to the environment we work in and people (in person) who work in the sector. After watching how […]
Using Coronavirus-Related Distributions To Reduce The Tax Impact Of Distributions From Retirement Accounts
Executive Summary In response to the COVID-19 global pandemic, the US Senate passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act last month. A more than $2 trillion emergency fiscal stimulus package, the CARES Act was enacted to help ease the effects of the resulting economic damage caused by the pandemic by providing a […]
How Popcorn Shed has managed to keep business sweet in lockdown
During difficult times, it’s important to treat yourself, and that’s the philosophy that’s keeping Popcorn Shed running. The award winning, UK-based Popcorn Shed produces delicious gourmet popcorn (in inventive flavours like goat’s cheese and cherry Bakewell) and was founded by cousins Sam and Laura. The founders are no strangers to adversity, having started the business […]
How Popcorn Shed has managed to keep business sweet in lockdown
During difficult times, it’s important to treat yourself, and that’s the philosophy that’s keeping Popcorn Shed running. The award winning, UK-based Popcorn Shed produces delicious gourmet popcorn (in inventive flavours like goat’s cheese and cherry Bakewell) and was founded by cousins Sam and Laura. The founders are no strangers to adversity, having started the business […]
‘Pay now or pay later,’ but don’t forget it’s a debt
Accountants are being forced to remind clients that HMRC’s VAT deferral will end and payments will need to be made. “The VAT deferral scheme is one of the things that will help some of those businesses stay alive along with several the other government support measures, but it’s just a deferral. It’s a situation that […]