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“Millions of Americans could be stunned as their tax refunds shrink” – Thank the withholding table adjustments’.” Statements like this have been harped upon by Suze Orman and others for years. However, if the Government does a better job saving your money for you then you would otherwise it’s a small price to pay (The chart however says it all, even since the early 2000’s interest rates have ben on the steady decline for decades) “Getting a tax refund means that you gave the government an interest-free loan because you overpaid your taxes,” said Nicole Kaeding, director of federal projects at the Tax Foundation, a right-leaning think thank. Many Americans prefer refunds, even though personal finance experts say it’s not a wise idea to get one. “It’s a mystery why taxpayers seem to be comfortable — and even happy — with getting refund checks,” Rosenberg said. If you're in need of assistance with your taxes, tax planning, tax resolution please contact us at ramlcpa.com #ramlcpa #taxprofesional #taxadvisor #taxplanning #growthprofitswealth #taxreform #withholdingtax #IRS #taxassistance #taxprofessional #taxpreparer #taxwriteoff #taxdeduction #SALT #taxtip #taxtips #taxpayments #TaxRefund #CPA #MarylandCPA #HowardCoCPA #ColumbiaMDCPA https://goo.gl/ZExf1v

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The Average 401(k) Balance by Age & Need for a Commitment Here is some vital information that is rarely seen or even talked about online when you read about 401k advice or tax planning. Regardless of where you stand in comparison it’s important to remember this is an OPPORTUNITY......a point in TIME TO DO SOMETHING vs. just something else to get depressed about. Whether you’re behind the curve or ahead of it, this should be a wakeup call to take some action. While your initial reaction is likely to do something this minute, the reality is your better off making a COMMITMENT to establish a plan, and something you can stick with rather than a knee jerk response that can easily do more harm than good. Information like this is exactly why we've integrated investment/retirement advice in with our tax planning services, that way they can work hand and hand with all your personal finances. For some clients it’s a second look/opinion at what your current advisor is doing and if it makes sense based on your age and needs, for others it’s developing a full strategy along with year around planning, to get your investment & retirement plans documented, growing, and under control. We offer a basic level of investment/retirement advice free of charge to all our individual tax clients while also offering a range of services depending on each client’s needs. These include more advanced and comprehensive services & strategies to help our clients sleep better at night. To learn more contact us at https://www.ramlcpa.com/contact.html #ramlcpa #taxadvisor #401k #investmentadvice #retirementadvice #taxplanning #taxpreparation #investmentadvisor #retirementadvisor #taxprofessional #taxstrategy https://goo.gl/pqubJb

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2019 Alternative Minimum Tax Quick Information Report Specifically, the Tax Cuts and Jobs Act significantly increase the AMT exemption amounts beginning with the 2018 tax year. In other words, the amount of income that can be excluded when determining your alternative minimum taxable income has increased. And, the exemption amounts will be indexed for inflation each year going forward. This is the key change that prevents the AMT from affecting middle-income households. The exemptions are reduced by $1 for every $4 in alternative minimum taxable income above the thresholds. Based on the 2017 figures, a married couple filing a joint tax return would start to lose their AMT exemption with AMT taxable income (AMTI) above $160,900 and would lose their entire AMT exemption with AMTI greater than $498,900. Households with incomes in this range can often be considered middle income, especially in higher-cost areas of the U.S. In contrast, for 2018, the full exemption can be used with AMTI of as much as $1 million, and the entire exemption isn’t lost until AMTI exceeds $1,437,600. This is fantatic news for so many taxpayers who use to incur $8K-$15K in AMT annually who are not likely to incurr AMT again, until the end of 2025 when the program terminates. Unless it or major aspects are renewed we could be headed back to the 2017 code for 2026. #ramlcpa, #AMT, #TAXES, #taxprepration, #taxplanning, #taxreform, #TCJA, #taxdeductions, #growthprofitswealth, #CFOAdvisory Contact us at www.RamlCPA.com/contact with any questions or if you need assistance.

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There's been quite a bit of news in the past year about the rise of Ransomware along with the costs and effects on businesses. So much more so for small businesses that in many cases they don't even have the most basic protection implemented. This article provides a great infographic on Ransomware/cyber attacks and how devastating they can be to small businesses (look at the bottom left of the Infographic... "60% of businesses that suffer a cyber attack go out of business within six (6) months". If you think that's bad, just think how bad it can get if it affects your CLIENTS DATA, potentially putting them at the same risk. I can guarantee that if your business doesn't have even the most basic protections your business is not nearly insured enough of the liability domino effect that exists, which doesn't even take into account if its due to negligence vs. a mistake. If its negligence simply closing the business doors and filing for bankruptcy could still leave you on the hook for damages especially if you knew the risk and neglected to take action. The section "Protecting Your Small Business Network" outlines many very basic and inexpensive ways to help avoid such an event. There are no guarantees in business especially in the digital age, however, basic protections should be on every businesses list. Additionally, adding a few others protections that are specifically designed for your business can eliminate most of the risk entirely.....again not foolproof, but those committing these acts almost always go for the easiest victims and if you have various protections in place there is a very high chance the someone even attempting this would move on to an easier opportunity. While portals and secure links/emails are now commonplace especially in the accounting, tax, and consulting fields, I understood these risks very early on as the internet was quickly changing business (pre and post tech bubble in the early 200's) as two of my degrees are in information systems and my second accounting position was with one of the first company's to offer offsite data storage to 3rd parties, as these risks became topics I learned and dealt with day in and day out. This became a far greater risk as customers started to shift in at great speed from the dial-up providers that first brought us the internet to the quickly expanding high-speed systems that truly changed how we do business. Accordingly, from the earliest days of my firm, I appreciated the power and risks in the market and implemented one of the earliest business class client portals long before they came to the norm and can't recommend enough that clients use them for confidential information. These and related topics will be expanded upon in our upcoming training seminars. @ramlcpa #ramlcpa #taxprofessional #taxadvisor #taxpreparer #taxplanning, #growthprofitswealth #smallbusiness #smallbusinessowner #entrepreneur #businessowner #localbusiness #businesschallenges #businesstips #businessadvice,#ransomware,#cyberattacks,#cyberattack,#firewall,#cyberthreats,#riskmanagement https://goo.gl/6VqXWB Travis Raml, CPA & Associates, LLC - Columbia Maryland CPA

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Having read articles like this all my professional life and answering questions from clients about this, how is it done, or how is it allowed...……...the simple answer through proper planning. It should also be noted these situations like this are the exception as the upper middle class to ultra rich pay the vast majority of the income tax revenue. Do they tax advantage of tax deductions even many that are advantageous to the wealthy.....absolutely, are many of these and similar tax laws/deduction also available to all taxpayers......almost always yes. So everyone, yes everyone has the ability to lower they're tax rates, and even attain results similar or on par of this, even if its on a smaller scale. I can't say you can keep doing what your doing to achieve this...…but that's the point as when you better yourself and your finances opportunities are usually quick to follow. http://ow.ly/vxDZ30mgyiv @RamlCPA⠀ #ramlcpa #taxprofessional #taxadvisor #taxplanning #growthprofitswealth #taxreform #taxpayments #IRS #taxassistance #taxdeductions #taxprofessional #taxpreparer #taxwriteoff #taxdeduction #taxtip #taxtips #SALTdeduction #TCJA #taxreform #taxstrategies One reader calls our story on Jared Kushner’s taxes unfair, while other readers object that the tax system itself is unfair in favoring the rich. http://ow.ly/vxDZ30mgyiv Travis Raml, CPA & Associates, LLC - Columbia Maryland CPA

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Meals continue to be deductible under new IRS guidance...…………………………businesses finally get the news they were hoping for regarding business meals. Under the interim guidance, taxpayers may deduct 50% of an otherwise allowable business meal expense if: 1) The expense is an ordinary and necessary business expense under Sec. 162(a) paid or incurred during the tax year when carrying on any trade or business; 2) The expense is not lavish or extravagant under the circumstances; 3) The taxpayer, or an employee of the taxpayer, is present when the food or beverages are furnished; 4)The food and beverages are provided to a current or potential business customer, client, consultant, or similar business contact; and 5) For food and beverages provided during or at an entertainment activity, they are purchased separately from the entertainment, or the cost of the food and beverages is stated separately from the cost of the entertainment on one or more bills, invoices, or receipts. The IRS will not allow the entertainment disallowance rule to be circumvented through inflating the amount charged for food and beverages. The IRS plans to issue proposed regulations and is requesting comments by Dec. 2 on the notice. https://goo.gl/ryN6dV @ramlcpa⠀⠀⠀⠀⠀ #ramlcpa #taxprofessional #taxadvisor #taxpreparer #taxplanning #taxreform #growthprofitswealth ⠀ #smallbusiness #smallbusinessowner #entrepreneur #businessowner #localbusiness #CFOservice ⠀ #businesschallenges #businesstips #businessadvice #IRS #businessmeals #TCJA Travis Raml, CPA & Associates, LLC - Columbia Maryland CPA

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Couples born many years apart need extra guidance as they prepare for their post-work lives. The age differences between spouses and its impact on retirement planning is not discussed nearly enough especially considering the rising divorce rates of the past 20-40 years and subsequent remarriages which often lead to larger age gaps between spouses. In marriages and remarriages where the age gaps is 5 years or less, there is often minimal planning differences for each spouse which is not already covered by most life expectancy assumptions. However, Women especially (occurs with Men as well though at lower %'s) can find themselves with significant planning risk and the potential for mistakes if they're much younger then their Male spouses. Per the enclosed data, 18% of first marriages, and 27% or remarriages result in Women being 6-10+ years younger than their males spouses. This can lead to a host of planning pitfalls and issues which can be easily be missed, or overlooked, while strategies such as smoothing or splitting the age differences to keep things simple being incredibly costly only to find out when its too late, especially in DIY situations. With topics such as the timing of RMDs, Social Security Distributions, risk tolerances by age groups, and the choice of the year(s) of target dated funds there is much to be considered, calculated, along with the necessary due diligence in assessing these and related subjects. This is something I've taken a keen interest in over the past several years and we're properly equipped to assist these and other taxpayers with these and other situations. Our tax preparation, tax planning, and retirement review services are becoming more and more aligned in their overall purpose of wealth growth, and we've already included annual (or more often if requested) retirement reviews as part of our tax service package. This will culminate with the addition of our RIA sister organization that is in the later planning phases with the planned opening in late 2018, or early 2019, and I'm already making plans to take the CFP exam. ⠀ @ramlcpa⠀⠀⠀⠀ #ramlcpa #taxprofessional #taxadvisor #taxpreparer #taxplanning #taxreform #growthprofitswealth #401k #retirementsavings #retirement #situations #retirementaccounts #IRA #ROTH #RIA #CFP #401k #IRA #retirementplanning #retirementsavings #definedbenefitplan #investing #wealthplanning #wealthmanagement #estateplanning #wealthtransfer #smallbusinesses #smallbusinessowners #entrepreneurs #localbusinesses ⠀ https://goo.gl/f8ZXr8 Travis Raml, CPA & Associates, LLC - Columbia Maryland CPA

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This article is strongly directed to Facebook as the social media marketing solution especially since they own Instagram (as your social media & marketing strategy should take into account multiple social media and marketing channels), but make no mistake other platforms can be better solutions for certain businesses and industries and business owners should be objective in researching and testing other social media channels as solutions. * Google PPC is still alive, doing well, and very effective......even Bing can be very effective and less costly add-on to bring down your cost, * there are a host of Marketing Solutions that can be utilized with LinkedIn which is a much more powerful marketing solution then its given credit for, * Twitter has faced its fair share of marketing challenges in the past several years, though they seem to be making greater inroads of late * Pinterest has been shown to be extremely high use and acceptance by women. That said this article does highlight that social media marketing is on many businesses minds, and while I believe some of these stats are probably overstated vs the reality is your competition, especially larger businesses, and the market leaders will be making a heavy/heavier push into social media marketing and to ignore this and not take advantage of these marketing avenues could be a critical mistake to the point where it costs you your business. Here are the stats: Small business marketing on social media: 85 percent of small business brands surveyed reported that social media has gotten them a new client or customer 66 percent reported that video received more engagement (likes, shares, comments) than any other form of content Instagram emerging as a marketing video hub: 73 percent said Instagram is important to their business 74 percent said they plan on creating more videos for Instagram in the next 6 months than they have in the last 6 months 29 percent have paid to advertise a video on Instagram 57 percent have posted on Instagram Stories in the last 30 days Facebook is still the video king: 50 percent of respondents said Facebook is their most important social media channel 91 percent said that they plan on creating a greater number of videos for Facebook in the next six months than they have in the last six months 63 percent have paid to advertise their video on Facebook 43 percent of them primarily use the Boost button 57 percent of them primarily use Facebook Ads Manager @ramlcpa⠀⠀⠀⠀⠀ #ramlcpa #taxprofessional #taxadvisor #taxpreparer #taxplanning #taxreform #growthprofitswealth ⠀ #smallbusiness #smallbusinessowner #entrepreneur #businessowner #localbusiness #socialmediamarketing #socialmediamarketingtip #smallbusinesssocialmedia #smallbusinessmarketingtips #entrepreneurmarketing Small businesses are embracing organic and paid video for their marketing on major social media platforms like Facebook, YouTube, and Instagram, according to new research from professional marketing video creation firm Animoto. According to the company’s https://goo.gl/oUkeDM Travis Raml, CPA & Associates, LLC - Columbia Maryland CPA