by George Dimov | Sep 17, 2024 | NYC Accounting
Different Types of Retirement Accounts: The Best One for You Tax planning for retirement involves strategically managing your retirement accounts to minimize taxes and maximize savings. The best retirement account for you depends on factors like your income, tax...
by George Dimov | Sep 17, 2024 | NYC Accounting
Depreciation Life for Each Asset Class: A Simple Guide The depreciation life for each asset class outlines how long an asset can be depreciated for tax purposes. This is set by the IRS under the Modified Accelerated Cost Recovery System (MACRS). For instance,...
by George Dimov | Sep 16, 2024 | NYC Accounting
When and How to Take Your RMD: A Complete Guide for Retirees Introduction to Required Minimum Distributions (RMDs) As you approach retirement, Required Minimum Distributions (RMDs) become essential to your financial planning. An RMD is the minimum amount that retirees...