Blog
Millennials: Are you living within your means?
Here at N & Co. we have a number of “millennial” clients, business owners, children, and interns. We enjoy their unique perspective on the world, and as accountants, we are especially interested in their ideas about money. The millennials we know are discerning...
Considering a Roth IRA Conversion: Why it could make sense to pay taxes on retirement savings sooner versus later
Our clients are savvy consumers, and we encourage them to plan carefully for retirement. That means we welcome the opportunity to help take a long view on tax planning and map out long-term tax saving strategies. Roth conversions are one such strategy. Rob Williams,...
Thinking ahead to tax season: Do you know what’s taxable?
The tax laws have changed. Take Kiplinger’s Personal Finance Quiz to find out if you know what IS and what IS NOT taxable. If your results show you need more help with determining what is taxable, please feel free to give our office a call. Your accountant will be...
529 Plans: 2018 Tax Law Changes
For parents or grandparents, 529 plans can be a smart way to save for schooling. Here are recent legislative changes: Saving-- Annual contribution limits double in 2018 from $2,000 to $4,000 per beneficiary. Paying for expenses-- Beginning in 2018, 529 funds can be...
Storytelling: Why Some Business Ideas Catch On–And Others Don’t
Sometimes the success of a business idea and gathering support for it is accomplished through great storytelling, says Carmine Gallo, author of The Storyteller's Secret: From TED Speakers to Business Legends, Why Some Ideas Catch On and Others Don't. According to...
Lessons from Horses: Equines Inspire Business Leadership
Neurosurgeon, professor and horseman Allan J. Hamilton elaborates in his new book, Lead With Your Heart: Lessons From a Life with Horses, on the leadership lessons he's learned through his work with horses. Hamilton makes five important points: Agendas hurt...
Debt and taxes (and scams)
Chances are you or someone you know has received a phone call from someone claiming to be with the IRS. If you haven't first received an actual letter in the mail from the IRS, these calls are fraudulent and should be reported. (Taxpayers can register a complaint at...
Lean Six Sigma at Your Firm: Extra/Over-Processing
According to Debbie Foster, a partner with Affinity Consulting Group in Tampa, businesses need to implement a policy of Continuous Improvement. This means periodically re-evaluating processes to ensure that they are not extraneous or outdated. Foster says value is...
First-Time Abatement: An IRS Hidden Treasure
Have you received a notice from the IRS, stating you owe money and/or have had penalties and interest applied? The IRS sends thousands of these letters to taxpayers every year. At Nichols & Company, we always recommend you send a copy of your notice to us and let...