A retirement plan needs regular care to keep it operating properly. You never too young to begin planning for your retirement!
At Bennett & Brkovich, LLC we strive to be your trusted partner in planning for all of your financial success. Call today to talk with Nancy and Miles a call to schedule your review: 724-537-5431 www.bennettandbrkovichcpas.com
Here are few simple things you can do to make planning for your future easier:https://www.questionsanswered.net/article/how-make-retirement-plan?ad=dirN&qo=serpIndex&o=740012
Are you a teacher, principal, counselor, or classroom aide? Did you know that you may qualify for the Educator Expense Deduction? This IRS rule allows you to deduct up to $250 on your tax forms ($500 for joint filers who are both educators, but not more than $250 each) for classroom supplies that you purchase at your own expense.
Bennett & Brkovich, LLC are qualified tax advisor that can help you determine which of your expenses qualify for this deduction. Call Nancy and Miles for REAL help - they are LOCAL 724-537-5431 | www.bennettandbrkovichcpas.com
During this hectic back-to-school period when classroom expenses are most likely to occur, it is important to remember to save your receipts!
Now more than ever you need the advice from a REAL tax expert. Especially in these uncertain times. What use to be...is not same for 2020.
Bennett & Brkovich, LLC will be there to answer your questions, support and guide you through the hurdles and uncertainties of 2020.
REAL help is waiting for you give us a call 724-537-5431
wwwobennettandbrkovichcpas.com
BIZJOURNALS.COM
Covid spikes interest in home office deductions - Washington Business Journal
Working from home has it benefits! Like you many employees are now working remotely. Does that mean you can take a tax write-off for your new home office? The answer is both YES and No!
Make sure to talk with the tax experts at Bennett & Brkovich, LLC for REAL help and answers for all of your business and personal tax questions. We are Reliable * Effective * Accountable * LOCAL
www.bennettandbrkovichcpas.com | 724-537-5431
DOUGHROLLER.NET
Tax Deductions for Employees who Work from Home
Happy Labor Day from Bennett & Brkovich, LLC
Thank you to all who have served our country and to all of the essential workers. Know that you are appreciated today and everyday!
An Important Message from Bennett & Brkovich, LLC The IRS will NEVER call you to tell that you owe money or back taxes - this is a SCAM !https://www.facebook.com/IRS/videos/784626255700608/
For REAL help on all of your tax questions and planning you need to talk with Nancy and Miles -they are Reliable * Effective * Accountable * LOCAL Call US for REAL Help: 724-37-5431 www.bennettandbrkovichcpas.com
This is a long but important post from Bennett & Brkovich about substantial tax savings and the Lifetime Learning Credit (LLC). For parents or adult students...and especially for students who have previously completed four years of higher education take a few minuetes to read this!
If you paid tuition and school fees in 2020 for yourself, your spouse or a dependent, you may be able to claim an LLC of up to $2,000 on your 2020 tax return. Generally, you may only claim the credit for one member of your household per year.
Students currently taking post-secondary education classes at eligible higher learning institutions may qualify for this credit by meeting BOTH of the following criteria:
* Students are or were enrolled in higher (post-secondary)
education classes for at least one 2020 academic period.
* The student is taking these higher education classes in pursuit of
a degree or other recognized certification, or to acquire or to
improve job skills.
In addition, the taxpayer claiming the credit (usually the student or the student's parent or guardian) must meet the program's income restrictions. Taxpayers with a modified adjusted gross income (MAGI) of $58,000 or less ($116,000 or less for joint filers) generally qualify to claim the full credit.
Although the LLC may only be claimed once per tax return, there is no limit to how many times students can qualify for the credit during their lifetimes.
Before claiming the LLC for a student in your household, check whether the student qualifies for the American Opportunity Tax Credit (AOTC). The AOTC has higher income limits and a higher maximum credit amount ($2,500). In addition, unlike the LLC, the AOTC may be partially refundable if your tax is reduced to less than zero.
Learn more at: https://www.thebalance.com/lifetime-learning-tax-credit-3192L
THEBALANCE.COM
How to Claim the Lifetime Learning Tax Credit
Important update from Bennett & Brkovich - For REAL Help on all of your personal and business tax and financial needs give US a call: 724-537-5431
PA announced that an additional $96 million in state grants have been approved for Pennsylvania small businesses that were impacted by the business closure order due to COVID-19.
Learn more:
https://dced.pa.gov/programs/covid-19-relief-statewide-small-business-assistance/?fbclid=IwAR30OG07UZcl_5GVqmonL2Vu3QtMkXHzBECs76byfFM5jaIhKYE_KE1qrzQ
October is National Security Month - A perfect time to assess your retirement goals.
We know this year is different and your future retirement plans might be on hold or you’ve been putting off even thinking about them.
It’s important to understand how those decisions might affect your future. At Bennett & Brkovich we encourage you to talk with us about developing a plan that fits your life and your retirement goals.
Here are a few important facts to remember:
* Don’t view your retirement plan as a piggy bank. Work on creating “mattress money” (emergency savings) for times such as this.
* An emergency savings of 3-6 months of your salary is known to reduce anxiety.
* Stay the course – don’t let the uproar in the markets sway your financial decisions in the short term.
* Call Nancy and Miles for REAL help : 724-537-5431 www.bennettandbrkovichcpas.com
October is National Retirement Security Month
Take control of future! Saving for retirement is alot like planting a garden. It takes time to plant the seeds - regular fertilization and attention and then when the time is right, harvesting the fruits of your labor.
Schedula a conversation with Nancy and Miles at Bennett & Brkovich, LLC - they can provide REAL help for all ot your financial needs. 724-537-5431 |www.bennettandbrkovichcpas.com
2020 National Retirement Security Month - Take Control of Your Future
Do something today that your future self will thank you for.
As we begin the final months of 2020, let's take a moment to refocus on your goals. There are still two months left in this crazy year- what can you accomplish before 2021?
At Bennett & Brkovich we want to help you with REAL solutions for all of your tax and financial planning. Do something....give us a call today 724-537-5431 | www.bennettandbrkovichcpas.com
Relaible * Effective * Accountable * LOCAL
Life Happens!
For many Americans, the pandemic has exposed the importance of having a solid financial plan in place. While you can't plan for everything, you can better position yourself to handle life's mishaps. Meeting with your tax professional can help identify areas in your planning that may need some work and help set you up for long-term success!
Good News - At Bennett & Brkovich, LLC we offer REAL help for ALL of your business and personal accounting and financial needs.Give us a call today: 724-537-5431 | www.bennettandbrkovichcpas.com
'Tis the Season for Important Tax Paperwork!
At Bennett & Brkovich we provide REAL help for ALL of your personal and business needs.
Keeping your records organized will help make sure you don't miss out on valuable deductions when it is time to file. Here are some documents to be on the lookout for:
- Wage and income statements (like W-2 or 1099-MISC)
- Health Insurance statements (like Form 1095)
- Proof of qualifying educational expenses (like Form 1098-T)
- Mortgage interest statements
- Retirement distribution statements
- Investment account statements
- Charity donation receipts
Let's talk 724-537-5431
www.bennettandbrkovichcpas.com
Happy New Year! We have GOOD NEWS for You!
We have been hearing from many of you about the stimulus checks and if they are taxable income. No Worries! You WILL NOT have to pay taxes on them. They are a one-time payment — called an "economic impact payment" by the IRS — is technically a refundable tax credit meant to offset your 2020 federal income taxes.
For REAL help on getting organized and ready for TAX TIME this year call Bennett & Brkovich LLC for REAL help! 724-537-5431 www.bennettandbrkovichcpas.com
Important End of Year Message From Bennett & Brkovich, LLC:
Nothing about 2020 has been predictable or routine, so you might as well shake up your year-end tax preparations! There’s still time left in 2020 to take stock of your financial situation and make some tax-savvy moves!
If you are over 50, you can make catch-up contributions of an additional $6,500 to 401(k)s and other qualified workplace retirement plans until December 31.
Schedule a call TODAY to talk with Nancy and Miles for REAL help
724-537-5431 |www.bennettandbrkovichcpas.com
Always remember - Tax planning is not a one-and-done exercise!
From all of us at Bennett & Brkovich, LLC ~
Sending wishes for a very Merry Christmas to you and your family.
Stay Safe> Stay Healthy!
Happy Holidays!
At Bennett & Brkovich, LLC we love sharing great information with you! There is still time to earn big tax deductions this year!
By opening or contributing to a PA 529 Guaranteed Savings Plan for a child's education you can keep pace with the rising cost of college tuition.
Parents * Grandparents * Aunts & Uncles - this is a gift that they will not outgrow!
Have questions? Give Nancy and Miles a call today: 724-537-5431
ASCENSUS-1.WISTIA.COM
Ugift
Happy Holidays!
While Americans are brainstorming ways to have a cheerful holiday despite the pandemic, we might not be thinking about the pleasures of saving money on taxes.
With a little planning, your tax savings might help pay for the extra shopping you did on Black Friday and throughout the holiday season. Here are 9 suggestive tax moves to make befoe the end of the year.
#9 - Connect with Bennett & Brkovich for REAL help on ALL of your personal and business tax and financial planning.
www.bennettandbrkovichcpas.com
8 Smart Tax Moves to Make Before the End of the Year
