Macomb: 586-468-0200 - Novi: 248-380-1811
College education is oftentimes something that parents worry about as their children grow older. Most feel that they should be saving already, but haven’t because they are not sure where to put those saved funds. In this article we compare the different vehicles of college savings.
Learn about Roth IRA distributions and how your contributions to a Roth IRA can be tax free. Generally, Roth IRA distributions of earnings are not taxable if made no sooner than five years from the first day of the first tax year for which a regular contribution was made and such distributions qualify within one of four different conditions.
Defer a portion of the income tax due on a gain from the sale of property with the installment method. Under the installment method, a portion of each payment is recognized as gain to the seller when received. Significant tax deferral can be achieved using this method, but there are several restrictions and limitations.
