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Returning Value Blog

Don G. Chastain, CPA

Recent Posts

Seven Time Tested Year-end Tax Tactics

Posted by Don G. Chastain, CPA on Nov 06, 2017

At this point, it is still uncertain whether any significant tax reform will be enacted this year. Keeping that in mind, individual taxpayers may stick with “tried-and-true” methods to reduce taxes owed at year-end. Here are seven prime examples: 

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Posted in Individual Tax

Pension Plans Aren't Yet A Relic Of The Past

Posted by Don G. Chastain, CPA on Oct 06, 2017

 

Only 20% of Fortune 500 companies are offering new employees pension plans, but plenty of workers and retirees still count on them for retirement income.

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Posted in Retirement & Wealth Management Planning

4 Reasons Not To Borrow From Your 401(k)

Posted by Don G. Chastain, CPA on Sep 01, 2017

401(k) loans are easy to get but should only be considered as a last resort.

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Posted in Retirement & Wealth Management Planning

Top Retirement Locations Aren't All In the Sunbelt

Posted by Don G. Chastain, CPA on Aug 10, 2017

Looking to retire? You may be surprised where some of the top retirement locations are.

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Posted in Retirement Planning

Entering a Roth Through the Back Door

Posted by Don G. Chastain, CPA on Aug 07, 2017

Is this retirement strategy right for you?

The door to Roth IRAs is closed to some high-income taxpayers because of annual limits imposed on contributions. But you may be able to use a “back-door” method that is perfectly legal. This technique may help you preserve more assets for your eventual retirement.

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Posted in Individual Tax

3 Breaks For Business Charitable Donations You May Not Know About

Posted by Don G. Chastain, CPA on Jun 27, 2017

Donating to charity is more than good business citizenship; it can also save tax. Here are three lesser-known federal income tax breaks for charitable donations by businesses.

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Posted in Business Tax

What You Need to Know About Section 529 Plans

Posted by Don G. Chastain, CPA on May 22, 2017

How will you ever save enough money to pay for your children’s college educations? There are no absolute guarantees, but Section 529 plans may help you set aside funds, up to generous limits. Here are the answers to several common questions on this subject.

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Posted in Individual Tax

This Retirement Planning Move Avoids Tax

Posted by Don G. Chastain, CPA on Apr 19, 2017

Benefit from a rollover to an IRA

If you receive a distribution from an employer’s retirement plan, such as a 401(k), you are generally required to pay ordinary income tax on the payout. However, with a timely maneuver, you can continue to postpone paying the tax until you are ready to make withdrawals.

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Posted in Retirement & Wealth Management Planning

The 4 Most Common Estate Planning Mistakes

Posted by Don G. Chastain, CPA on Feb 23, 2017

The most common components of a basic estate plan: a will, living will, life insurance, and maybe even a trust. Most adults know the importance of these estate planning elements, and may even have some or all of them implemented – which, overall, is great. But like everything in life, change happens, and updates will be necessary to some, if not all, of these documents. Here we have laid out the most common mistakes found in estate planning:

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Posted in Tax Planning

Did You Know that Machen McChesney Has an Estate & Trust Tax Service Group? ...

Posted by Don G. Chastain, CPA on Dec 19, 2016

Machen McChesney has been assisting executors and trustees in managing administrative duties for over 60 years.  We understand that leaving an estate or trust to chance can result in significant tax consequences or even frozen assets. The complexity of it all is very confusing, which is why we can work together to help you achieve the future you seek for yourself and your family. 

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Posted in Individual Tax

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