We here at Michael J. Clark, CPA feel that an informed client is our best customer. We know that there is a lot of information on the Internet and it can be tough to determine what is valuable. That is why we have selected the following article(s) for you to view.

Why Develop a Business Succession Plan? Like most people, business owners are usually concerned about their own financial security, providing for their loved ones, and keeping their family happy. However, closely held business owners may have the additional concern of keeping the business successful after they are no longer running it, since they (or their family members) could depend on the business to provide continuing financial resources.   New IRS Guidelines for Vehicle Deductions Following changes made by the 2004 American Jobs Creation Act (2004 Act), the allowable charitable contribution deduction for a vehicle valued at more than $500 depends on the charity's use of the vehicle   Roth IRA Option for 401(k) Accounts The 2001 Tax Act contained a provision allowing elective deferrals (contributions) to Section 401(k) plans to be placed in a Roth IRA beginning in 2006. Congress felt the tax-favored savings choices that some individuals prefer, such as Roth IRAs, should be available to 401(k) participants.