Ultimate Account Blog

Your Estate Plan Should Be No Secret

Many people are uncomfortable discussing with their loved ones how they plan to distribute their estates. Perhaps you don’t want your children to realize how much they may receive after your death. Or maybe you think your choice of heirs could change in the future. However, if you don’t…

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Considering Long-Term Care Insurance? Here’s What You Should Know

For some people, it’s easier to think about one’s eventual demise than to consider the possibility of needing the kind of personal assistance that long-term care (LTC) aides and facilities provide. Even so, ignoring the possibility of needing that care doesn’t make it go away. Today, around 7.5 million…

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Retirement Savings: Are You Currently On Track?

Employment disruptions caused by the COVID-19 economic slowdown have scrambled the retirement saving strategies of many Americans. According to a recent survey, nearly half of employed Americans either reduced or suspended their retirement savings during the pandemic. Moreover, around 30% of those surveyed reported being behind in saving for…

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How to Use QuickBooks Online More Efficiently

What if a few simple tips and tricks could reduce the amount of time you spend using QuickBooks Online? You’d want to learn, right? Here are six ways you can shave seconds off everyday tasks and become a more…

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Rx for Itemizing Medical Expenses

Medical expenses can be costly — and they’re not always covered by insurance. But there may be a silver lining: You may be able to claim an itemized deduction for the amounts you pay for medical, dental and vision care, if you incur enough costs to exceed the applicable…

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Tax Implications for Vacation Homes Classified as Personal Residences

Do you own a vacation home? If so and you rent it to third parties, you may be confused about the federal income tax rules that apply. Confusion is especially common if you changed your usage pattern during the pandemic. It may have caused your property to be classified…

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Age 50 or Older? Consider Extra Retirement Contributions

Here’s an important reminder for those who want to max out before-tax contributions to employer-sponsored salary retirement plans, which include 401(k), 403(b), 457 and SIMPLE plans, as well as traditional and Roth IRAs. If you are age 50 or older at the end of this year, you are generally…

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Decennial Report: 2021

We’ve been fielding questions from various clients regarding the Pennsylvania Decennial Filing/Report. Many of our clients have received a postcard from the state outlining the requirements. Walz Group is here to discuss compliance on this matter. The Pennsylvania Department of State has done a nice job explaining this filing/report…

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Limit Exposure When Signing a Lease

Prudent businesses often choose to lease rather than buy equipment, vehicles and facilities. Leasing can be advantageous but the type of agreement you sign is important. When presented with lease options, you’ll find the ones with the longest terms are generally the cheapest. But you may want to opt…

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Having trouble finding the right employee? You are not alone.

The Problem In all transparency I am not (nor do I profess to be) an economist nor human resources professional. With that made clear, I regularly interact with clients in industries where skilled labor workers are the backbone of the company. I am consistently hearing from these companies that…

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