News & Tips - Augustedge, PLLC

How Coverdell and 529 Education Savings Plans Differ

Article Highlights Coverdell Education Savings Accounts Qualified State Tuition Programs (Sec 529 plans) Savings Contribution Limits Gift Tax Issues The tax code provides two primary advantageous ways of saving for your children's education. We frequently get questions about the differences between the programs and about which program is best suited for a family's particular needs. The Coverdell Education Savings Account and the Qualified Tuition [...]

By Augustedge Staff|2024-05-02T22:43:34+00:00May 10, 2024|Taxes|Comments Off

Drug & Alcohol Addiction Treatments May Be Tax Deductible

Article Highlights: Potential medical deductions Medical dependents Divorced parents Medical AGI limitations A taxpayer is allowed an itemized deduction for medical expenses paid during the taxable year and not compensated by insurance or otherwise for medical care of the taxpayer or the taxpayer’s spouse, dependent, or medical dependent. Alcoholism and drug addiction are treated as medical ailments for tax purposes. People with addictions often [...]

By Augustedge Staff|2024-05-02T22:38:24+00:00May 9, 2024|Taxes|Comments Off

Unlocking the Secrets of the SMB Business Life Cycle

Understanding your company's journey from inception to maturity is not optional if you want to have a successful career as a business owner. The business life cycle, a concept thoroughly explored by experts in corporate finance, serves as an essential roadmap for entrepreneurs and owners of small to medium-sized businesses (SMBs). This guide walks you through the stages of launch, growth, shake-out, maturity, and [...]

By Augustedge Staff|2024-05-02T22:31:50+00:00May 7, 2024|Business|Comments Off

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