Taxes

• Tax Planning
  Rhonda is the Chief Executive Officer and co-founder of Keystone Financial Group. As an accounting and finance professional, Rhonda has over 30 years of experience. She has spoken at numerous associations and corporate functions regarding topics such as strategic financial planning for business owners, business succession, risk management strategies, and tax planning strategies.
• Charitable Giving
  Depending on the situation, you may have some left over cash after addressing each of the areas mentioned above. If this occurs you might choose to give some or all of the remaining money away. This can be done through charitable donations to various people or organizations such as your local church, philanthropic center, animal shelter, alma mater or orphanage. This is a great way for individuals to have a positive impact on something they’re passionate about and potentially lower their tax bill! Just be sure to consult with your CPA to learn more about claiming deductions for those charitable contributions.
• Avoiding Probate
  Over the years, we have seen clients do numerous things, and one common mistake we see is individuals changing the title to an asset or financial account simply out of convenience and allowing another individual to access this asset(s) without understanding that these decisions can have legal and/or potential tax ramifications. This is very common with bank accounts, brokerage investment accounts, and property deeds when an individual wants to grant someone else (typically a non-spouse) access to the account to help monitor the asset, pay bills, or simply avoid probate in the event of death. It’s important to understand that upon changing the title or adding a joint party to an account or deed, that person assumes legal ownership over a portion of the asset or account. In the event that person ran into an issue with a potential creditor or something similar, then the entire asset could potentially be put at risk in the event of a negative judgment or garnishment. In addition to potential liability issues, simply adding non-spouses as a joint party on a financial account or deed without any other consideration is also deemed a gift and may require that a gift tax return be filed if the amount exceeds the annual gift exclusion amount set by the IRS (currently at $16,000 / individual in 2022).
• Roth IRA
  The limit on annual contributions and the additional 50 or older “catch-up contribution” will remain unchanged for the fourth year in a row at $6,000 and $1,000, respectively. However, the phase-out income limits for making deductible IRA contributions and Roth IRA contributions will increase slightly.
• Tax Deductions
  Receive an immediate tax deduction in the year contributions are made to your DAF rather than waiting until funds are distributed to a charity.
• Capital Gains Taxes
  Donor-Advised Funds (DAFs) have become increasingly popular among charitably inclined businesses and individuals looking for a way to maximize donations to their favorite charities. Known for their flexibility and simplicity, DAFs allow account owners to make a charitable contribution, receive an immediate tax deduction, and then recommend grants to virtually any 50l(c)(3) charity over time. Donating appreciated assets can also be very tax efficient as capital gains taxes potentially can be avoided while deductions are also taken at fair market value of the asset(s) donated.

Investment

• Investment Management
  Historical performance results for investment indexes and/or categories generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have [the] effect of decreasing historical performance results.
• Mutual Funds
• Bonds
• Wealth Management
  For over 20 years, our firm has helped local business owners achieve their personal financial goals and those of their business. Our wealth management process for entrepreneurs focuses on maximizing the value of ALL your assets, including your business, and building a long-term financial plan around them. After all, approximately 80% of small business owners’ net worth is directly tied to their business.
• Money Market Funds
  Finally, we recommend that you keep two months’ worth of operating expenses in a business savings account. These non-volatile expenses could include basic utilities, rent, debt payments, employee payroll and liabilities, insurance premiums, and so forth. Traditionally, if you have two months’ worth of necessary expenses set aside and you have a fairly stable income, then you can weather the storms that will inevitably come. Once you determine the optimal amount of cash to hold in your accounts, you can then shift your focus to finding the best vehicle to park your savings in. However, there are an overwhelming amount of options to choose from like high-yield savings accounts, CD’s, money market funds, treasury bills or cash management accounts and each comes with their own benefits and drawbacks. Which one is right for you will depend on what factors are most important to you such as yield, FDIC coverage or liquidity. Therefore, we recommend speaking with a financial professional who can help you determine the best solution for your needs.

Accounting

• Accounting Services

Planning

• Financial Planning
  Aside from closely monitoring client investments, Andrew also assists clients with retirement plan design and implementation for small business owners, investment taxation strategies, and general financial planning strategies.
• Retirement Planning
  Tom is co-founder and serves as the Chief Financial Officer of Keystone Financial Group. Tom has over 25 years of accounting and finance experience and often works with clients to help them with financial issues such as retirement planning, risk management strategies, and strategic planning for business owners.
• Long Term Care
• Asset Management
  Indices mentioned are not managed and cannot be invested into directly. Past performance does not guarantee future results. Diversification and asset allocation strategies do not assure profit or protect against loss.
• College Funding
• Asset Protection
  Ryan is a CERTIFIED FINANCIAL PLANNERâ„¢ professional and Financial Advisor for Keystone Financial Group. His primary focus is assisting individuals and small/medium size business owners in the areas of portfolio management, personal financial planning, life insurance, and estate planning. In addition, Ryan helps several of our corporate clients with retirement plan design and implementation, asset protection strategies, and exit planning.Â