News & Tips - Augustedge, PLLC

Does Your Employer Offer Emergency Savings Accounts?

Article Highlights: Understanding Emergency Savings Accounts Plan Contributions Automatic Enrollment Opting Out of Automatic Enrollment Roth-Like Basis and Employer Matching Contributions Withdrawals and Transition Options In a significant move to enhance the financial resilience of American workers, a delayed provision of the SECURE 2.0 Act, enacted in December of 2022, introduced a novel feature, the Pension-Linked Emergency Savings Account (PLESA) which became effective in [...]

By Augustedge Staff|2024-06-04T15:31:15+00:00June 4, 2024|Financial Planning|Comments Off

Navigating the Complex World of Your Child’s Tax Return

Article Highlights: Why Kiddie Tax Unearned Income Exceptions Understanding Kiddie Tax Rules Strategies for Children with Earned Income Parental Election to Include Child's Unearned Income Strategies to Avoid the Kiddie Tax In an effort to prevent high-income parents from exploiting tax benefits by shifting their investment income to their children, who typically fall into lower tax brackets, the U.S. Congress introduced the "Kiddie Tax" [...]

By Augustedge Staff|2024-06-04T15:25:42+00:00June 3, 2024|Taxes|Comments Off

5 Steps You Should Take Every Time You Open QuickBooks

When it comes to managing your small business finances, establishing a consistent routine is important. This is especially true when using QuickBooks, a powerful accounting software system that can help you stay organized and make informed decisions about your finances daily. Here are five key steps you should take every time you open QuickBooks: 1. Look at the Income Tracker Start each QuickBooks session [...]

By Augustedge Staff|2024-05-02T22:48:09+00:00May 11, 2024|Tools|Comments Off

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