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New Location for Marion Office

May 1, 2024 by Admin

We’ve moved! Rikard & Neal is excited to announce that we have relocated to a brand-new Marion office space.  Our Memphis office location remains unchanged but our Marion office has moved to its new location at 210 Manor St., which is just south of the Marion School Administration Building.  This move signifies our commitment to growth and our dedication to serving you better.  We look forward to continuing to serve you from this larger, easy accessible office space.

Filed Under: Uncategorized

Bong for Sale: Your Ultimate Guide to Bongb

November 25, 2023 by 4hXVTV

If you’re in the market for a new bong, you’ve probably stumbled upon the term “Bong for sale” more times than you can count. But among all the options out there, what makes the Bongb series stand out? Let’s dive into the world of Dankstop’s dry herb vaporizers and explore why these products are worth your attention.

The Allure of Dankstop’s Dry Herb Vaporizers

When it comes to purchasing a bong, the first thing that comes to mind is often the quality of the smoke. That’s where Dankstop’s dry herb vaporizers come into play. These vaporizers are designed to provide an unparalleled smoking experience, ensuring that every puff is smooth and potent. The advanced heating technology used in these devices ensures that your herbs are vaporized at the optimal temperature, preserving the full flavor and potency of your favorite blends.

The materials used in the construction of these bongs are another key factor. Dankstop uses only the highest quality glass, which not only ensures durability but also adds a touch of elegance to your setup. Whether you’re looking for a sleek and modern design or something with a bit more flair, you’ll find a variety of styles within the Bongb series to suit your tastes.

Choosing the Right Bong for You

With so many different models available under the Bongb series, choosing the right one can seem daunting. Here are some tips to help you narrow down your options:

  1. Consider Your Budget: Bongs can range from affordable options to luxury pieces. Determine how much you’re willing to spend upfront, keeping in mind the value you get for your money in terms of build quality and longevity.
  2. Material Preference: Glass is the most common material for bongs, but there are also silicone and acrylic options available. Each material has its own pros and cons. For instance, glass bongs offer superior heat resistance and durability, while silicone bongs are lightweight and portable.
  3. Design and Style: Think about what you want your bong to look like. Some prefer simple designs, while others might be drawn to intricate carvings or colorful accents. The design should resonate with your personal style and the space where you plan to use it.
  4. Functionality: Consider what features are important to you. Do you need a water filtration system to cool down the smoke? How about percolators to enhance the filtration process and ensure smoother hits? Understanding your needs will help you choose a bong that meets both your functional and aesthetic requirements.

Final Thoughts

Navigating through the vast selection of bongs on the market can be overwhelming, but with the right information, you can make an informed decision that suits your preferences and needs. The Bong for sale under the Bongb series by Dankstop offers a range of high-quality vaporizers that cater to different tastes and budgets. Whether you’re a seasoned smoker or just starting out, there’s a Bongb model waiting to enhance your smoking experience. So, go ahead, browse through the collection, and find the perfect fit for you. Happy vaping!

Filed Under: Uncategorized

Social Security benefits: Do you have to pay tax on them?

June 7, 2022 by Rikard Neal

Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on the amounts they receive. If you’re wondering whether you’ll be taxed on your Social Security benefits, the answer is: It depends.

The taxation of Social Security benefits depends on your other income. If your income is high enough, between 50% and 85% of your benefits could be taxed. (This doesn’t mean you pay 85% of your benefits back to the federal government in taxes. It merely means that you’d include 85% of them in your income subject to your regular tax rates.)

Figuring your income

To determine how much of your benefits are taxed, first determine your other income, including certain items otherwise excluded for tax purposes (for example, tax-exempt interest). Add to that the income of your spouse if you file a joint tax return. To this, add half of the Social Security benefits you and your spouse received during the year. The figure you come up with is your total income plus half of your benefits. Now apply the following rules:

  1. If your income plus half your benefits isn’t above $32,000 ($25,000 for single taxpayers), none of your benefits are taxed.
  2. If your income plus half your benefits exceeds $32,000 but isn’t more than $44,000, you will be taxed on one half of the excess over $32,000, or one half of the benefits, whichever is lower.

An example to illustrate

Let’s say you and your spouse have $20,000 in taxable dividends, $2,400 of tax-exempt interest and combined Social Security benefits of $21,000. So, your income plus half your benefits is $32,900 ($20,000 + $2,400 +½ of $21,000). You must include $450 of the benefits in gross income (½ ($32,900 − $32,000)). (If your combined Social Security benefits were $5,000, and your income plus half your benefits were $40,000, you would include $2,500 of the benefits in income: ½ ($40,000 − $32,000) equals $4,000, but half the $5,000 of benefits ($2,500) is lower, and the lower figure is used.)

Note: If you aren’t paying tax on your Social Security benefits now because your income is below the floor, or you’re paying tax on only 50% of those benefits, an unplanned increase in your income can have a triple tax cost. You’ll have to pay tax on the additional income, you’ll have to pay tax on (or on more of) your Social Security benefits (since the higher your income the more of your Social Security benefits are taxed), and you may get pushed into a higher marginal tax bracket.

For example, this situation might arise if you receive a large distribution from an IRA during the year or you have large capital gains. Careful planning might avoid this negative tax result. You might be able to spread the additional income over more than one year, or liquidate assets other than an IRA account, such as stock showing only a small gain or stock with gain that can be offset by a capital loss on other shares.

If you know your Social Security benefits will be taxed, you can voluntarily arrange to have the tax withheld from the payments by filing a Form W-4V. Otherwise, you may have to make quarterly estimated tax payments. Keep in mind that most states do not tax Social Security benefits, but 12 states do tax them. Contact us for assistance or more information.

© 2022

Filed Under: Individual Tax, Uncategorized

Choosing a Business Entity

November 8, 2021 by Rikard Neal

Many factors are involved when choosing a business entity

Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will work best for you — a C corporation or a pass-through entity such as a sole-proprietorship, partnership, limited liability company (LLC) or S corporation. There are many factors to consider and proposed federal tax law changes being considered by Congress may affect your decision.

The corporate federal income tax is currently imposed at a flat 21% rate, while the current individual federal income tax rates begin at 10% and go up to 37%. The difference in rates can be mitigated by the qualified business income (QBI) deduction that’s available to eligible pass-through entity owners that are individuals, estates and trusts.

Note that non-corporate taxpayers with modified adjusted gross income above certain levels are subject to an additional 3.8% tax on net investment income.

Organizing a business as a C corporation instead of as a pass-through entity can reduce the current federal income tax on the business’s income. The corporation can still pay reasonable compensation to the shareholders and pay interest on loans from the shareholders. That income will be taxed at higher individual rates, but the overall rate on the corporation’s income can be lower than if the business was operated as a pass-through entity.

Other considerations
Other tax-related factors should also be considered. For example:

  • If substantially all the business profits will be distributed to the owners, it may be preferable that the business be operated as a pass-through entity rather than as a C corporation, since the shareholders will be taxed on dividend distributions from the corporation (double taxation). In contrast, owners of a pass-through entity will only be taxed once, at the personal level, on business income. However, the impact of double taxation must be evaluated based on projected income levels for both the business and its owners.
  • If the value of the business’s assets is likely to appreciate, it’s generally preferable to conduct it as a pass-through entity to avoid a corporate tax if the assets are sold or the business is liquidated. Although corporate level tax will be avoided if the corporation’s shares, rather than its assets, are sold, the buyer may insist on a lower price because the tax basis of appreciated business assets cannot be stepped up to reflect the purchase price. That can result in much lower post-purchase depreciation and amortization deductions for the buyer.
  • If the entity is a pass-through entity, the owners’ bases in their interests in the entity are stepped-up by the entity income that’s allocated to them. That can result in less taxable gain for the owners when their interests in the entity are sold.
  • If the business is expected to incur tax losses for a while, consideration should be given to structuring it as a pass-through entity so the owners can deduct the losses against their other income. Conversely, if the owners of the business have insufficient other income or the losses aren’t usable (for example, because they’re limited by the passive loss rules), it may be preferable for the business to be a C corporation, since it’ll be able to offset future income with the losses.
  • If the owners of the business are subject to the alternative minimum tax (AMT), it may be preferable to organize as a C corporation, since corporations aren’t subject to the AMT. Affected individuals are subject to the AMT at 26% or 28% rates.

These are only some of the many factors involved in operating a business as a certain type of legal entity. For details about how to proceed in your situation, consult with us.

© 2021

Filed Under: Uncategorized

2021 Q4 tax calendar: Key deadlines for businesses and other employers

October 5, 2021 by Rikard Neal

2021 Q4 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.

Note: Certain tax-filing and tax-payment deadlines may be postponed for taxpayers who reside in or have a business in federally declared disaster areas.

Friday, October 15

If a calendar-year C corporation that filed an automatic six-month extension:

  • File a 2020 income tax return (Form 1120) and pay any tax, interest and penalties due.
  • Make contributions for 2020 to certain employer-sponsored retirement plans.

Monday, November 1

Report income tax withholding and FICA taxes for third quarter 2021 (Form 941) and pay any tax due. (See exception below under “November 10.”)

Wednesday, November 10

Report income tax withholding and FICA taxes for third quarter 2021 (Form 941), if you deposited on time (and in full) all of the associated taxes due.

Wednesday, December 15

If a calendar-year C corporation, pay the fourth installment of 2021 estimated income taxes.

Friday, December 31

Establish a retirement plan for 2021 (generally other than a SIMPLE, a Safe-Harbor 401(k) or a SEP).

Contact us if you’d like more information about the filing requirements and to ensure you’re meeting all applicable deadlines.
© 2021

Filed Under: Business Tax, Small Business Taxes, Uncategorized

A Comprehensive Guide to Buying Fake Rolex for Sale: Discovering Replica Watches

April 19, 2021 by 4hXVTV

Understanding the Appeal of Replica Watches

When it comes to luxury timepieces, the allure of owning a Rolex is undeniable. However, the high price tag often puts these coveted pieces out of reach for many enthusiasts. This is where fake rolex for sale come into play. Replica watches offer an attractive alternative, blending the iconic design and craftsmanship of the original with more accessible pricing.

These replicas are meticulously crafted to mirror the genuine articles in both aesthetics and functionality. They are not just about the look; they also provide a sense of satisfaction for those who appreciate the artistry behind these timepieces. Whether you’re looking for a daily companion or a piece to complement your formal wear, replica watches can be a fantastic choice.

Key Considerations When Shopping for Fake Rolex for Sale

Purchasing a fake Rolex for sale involves more than just finding an affordable price point. Here are some key factors to consider:

  1. Quality and Craftsmanship: Look for sellers who provide detailed images and information about their products. High-quality photos can give you a good idea of how close the replica is to the real thing. Pay attention to the materials used, such as stainless steel for the case and sapphire crystal for the dial. These elements contribute significantly to the overall feel and durability of the watch.
  2. Movement: The movement inside the watch is crucial. While quartz movements are reliable and cost-effective, mechanical movements add a touch of authenticity that enthusiasts often prefer. Ensure the seller specifies whether the watch has a quartz or automatic movement.
  3. Brand Reputation: While you may be purchasing a fake Rolex for sale, the reputation of the seller is still important. Read reviews and ask for recommendations from other buyers. Reliable sellers will often provide a warranty or return policy, which can offer peace of mind when making your purchase.
  4. Price: Be wary of prices that seem too good to be true. While replica watches are meant to be more affordable, extremely low prices could indicate poor quality. On the other hand, a slightly higher price might mean better materials and workmanship.

Making Your Decision

Choosing the right fake Rolex for sale can be an exciting process. It’s important to weigh all the factors mentioned above to ensure you’re getting a product that meets your expectations. Whether you’re a collector, a fashion enthusiast, or someone who simply appreciates fine timepieces, there’s a replica Rolex out there that will fit your style and budget.

Remember, while these watches are not the genuine article, they can offer a taste of luxury at a fraction of the cost. By doing your research and choosing wisely, you can enjoy a timepiece that looks, feels, and functions like a top-tier luxury watch without breaking the bank.

In conclusion, shopping for fake Rolex for sale can be a rewarding experience if approached with care and consideration. Take the time to review the details, understand what you’re buying, and select a reputable seller to ensure you get the best possible product. Happy hunting!

Filed Under: Uncategorized

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