Lou Haskel, CPA

Charitable giving strategies, including qualified charitable distributions (QCDs), may provide tax benefits for eligible retirees.

Life Changes Can Affect Your Taxes: Major events like marriage, having a child, buying a home, changing jobs, or retiring may affect your tax situation. It's a good idea to review your tax strategy after significant life changes.

Don't Overlook Tax Credits: Tax credits can directly reduce the amount of tax you owe. Depending on your situation, you may qualify for education, child, energy-efficiency, or other valuable credits.

Your adjusted gross income (AGI) is your taxable income minus certain deductions. It’s a key number because the IRS uses your AGI to determine whether you qualify for other tax credits or deductions.

Your choice of entity—such as sole proprietorship, LLC, partnership, or S corporation—can affect how you pay taxes. As your business grows, it may be worth reviewing whether your current structure is still the most tax-efficient.

"Rest and self-care are so important. When you take time to replenish your spirit, it allows you to serve others from the overflow."

Starting a Business 101: Track startup costs carefully. Many expenses incurred before you officially “open” can still be deducted—things like website development, legal setup, branding, and early marketing. In many cases, you can deduct up to $5,000 of startup costs in the first year (with the rest amortized), so good recordkeeping early on matters.