Bott & Associates, Ltd.

The Foreign Account Tax Compliance Act (FATCA) generally requires that foreign financial institutions and certain other non-financial foreign entities report on the foreign assets held by their U.S. account holders or be subject to withholding on relevant payments. Taxpayers must…

Do you dream of getting out of your area once the kids have moved out and you don’t need to commute? When you’re retired, you have fewer obligations, meaning you can move to any location you can afford. Maybe what…

According to the Social Security Administration, approximately 70 million Americans will see an 8.7% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2023. On average, according to the SSA, Social Security benefits will increase by…

Most states have a state income tax in addition to the federal income tax, and in some cases, certain localities have their own income taxes on top of those. Now is a good time to check to make sure you’re…

Umbrella insurance is a type of personal liability insurance that applies to a broader range of situations than conventional business insurance. It’s for those who may find themselves liable for a claim larger than what their homeowners or auto insurance…

Defined benefit plans are retirement plans that are largely funded by employers, with payouts based on a set formula that considers employees’ salary, age and tenure with the company. Also known as pension plans, they historically were offered to entice…

One reason people look forward to retirement is because they’ll finally have the time to travel. If you’ve only had enough vacation time for a few long weekends a year, then it’s no wonder you may be excited to plan…