--- title: Machen McChesney Blog | Don G. Chastain, CPA --- [Family of Services](http://machenmcchesney.com/about-us/family-of-companies/)  |  [CPA & Business Advisory](http://machenmcchesney.com)  |  [Payroll, HR & Benefits](http://focuspaysolutions.com/)  |  [Wealth Management](http://machenmcchesney.com/services/financial-planning-and-wealth-mangement-services/) Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900 [![mm-cobrand-fd-blues](https://info.machen.cpa/hs-fs/hubfs/mm-cobrand-fd-blues.png?width=279&height=100&name=mm-cobrand-fd-blues.png)](http://machenmcchesney.com) Search this site on Google Search Google Search this site on Google Search Google - [Client Portal](https://machenmcchesney.sharefile.com/Authentication/Login) - [1040 Electronic Organizer](https://www.my1040data.com/account/login/HT7902990) - [LinkedIn](https://www.linkedin.com/company/675439?trk=tyah&trkInfo=idx%3A1-1-1%2CtarId%3A1424436970395%2Ctas%3Amachen+mcchesney) - [Facebook](https://www.facebook.com/machenmcchesney) - [Google](https://plus.google.com/101356546927388458481) - [Twitter](https://twitter.com/machenmcchesney) - About Us - [Welcome](http://machenmcchesney.com/about-us/welcome/) - [Affiliations and Associations](http://machenmcchesney.com/about-us/affiliations-and-associations/) - [Community Events](http://machenmcchesney.com/about-us/community-events/) - [Family of Companies](http://machenmcchesney.com/about-us/family-of-companies/) - [History](http://machenmcchesney.com/about-us/firm-profile-history/) - [Mission and Values](http://machenmcchesney.com/about-us/mission-and-values/) - [Team Directory](http://machenmcchesney.com/about-us/team-directory/) - Services - [Accounting & Outsourcing](http://machenmcchesney.com/services/accounting-outsourcing/) - [Audit and Assurance Services](http://machenmcchesney.com/services/audit-assurance/) - [Business Advisory Services](http://machenmcchesney.com/services/business-advisory/) - [Business Valuation Services](http://machenmcchesney.com/services/business-valuation-services/) - [Family Office Services](http://machenmcchesney.com/services/family-care/) - [Financial Planning & Wealth Mangement Services](http://machenmcchesney.com/services/financial-planning-and-wealth-mangement-services/) - [Individual Services](http://machenmcchesney.com/services/individuals/) - [Taxation](http://machenmcchesney.com/services/taxation/) - Who We Serve - [Construction & Real Estate](http://machenmcchesney.com/industries/construction-real-estate/) - [Credit Unions](http://machenmcchesney.com/industries/credit-unions/) - [Government & Not-For-Profits](http://machenmcchesney.com/industries/governmental-not-for-profit/) - [Healthcare & Professional Services](http://machenmcchesney.com/industries/healthcare-and-professional-services/) - [Hospitality, Restaurant & Retail](http://machenmcchesney.com/industries/hospitality-restaurant-retail/) - [Manufacturing, Distribution & Automotive](http://machenmcchesney.com/industries/manufacturing-distribution-automotive/) - [Success Stories](http://machenmcchesney.com/success-stories) - Resources - [Blog](https://info.machenmcchesney.com/blog) - [E-Newsletter Archive](http://machenmcchesney.com/resources/e-newsletter-archive/) - [Financial Calculators](http://machenmcchesney.com/resources/financial-calculators/) - [Financial Terms Glossary](http://machenmcchesney.com/resources/financial-terms-glossary/) - [Helpful Articles](http://machenmcchesney.com/resources/newsletter/) - [Tax Calendar](http://machenmcchesney.com/resources/tax-calendar/) - [Tax Links](http://machenmcchesney.com/resources/tax-links/) - [Track Your Refund](http://machenmcchesney.com/resources/track-your-refund/) - [Sign Up for Our E-Newsletter](http://machenmcchesney.com/resources/e-newsletter/) - [Subscribe to Our Blog](http://machenmcchesney.com/resources/subscribe-to-the-machen-mcchesney-blog/) - News & Events - [Press Releases](http://machenmcchesney.com/news-events/press-releases/) - [Upcoming Events](http://machenmcchesney.com/news-events/upcoming-events/) - Careers - [Our Culture](http://machenmcchesney.com/careers/culture/) - [Benefits](http://machenmcchesney.com/careers/benefits/) - [Our Stories](http://machenmcchesney.com/careers/our-stories/) - [Current Openings](http://machenmcchesney.com/careers/current-openings-send-resume/) - [Accounting Internship Opportunities](http://machenmcchesney.com/careers/students/) - Contact Us - [Auburn-Opelika Office](http://machenmcchesney.com/contact-us/contact-us-auburn-office/) - [Montgomery Office](http://machenmcchesney.com/contact-us/contact-us-montgomery-office/) # Returning Value Blog ## Don G. Chastain, CPA ### Recent Posts ## [Tools To Help You Reach Major Financial Goals](https://info.machen.cpa/blog/tools-to-help-you-reach-major-financial-goals) ![](https://info.machen.cpa/hs-fs/hub/471263/file-2626477966.jpg) Posted by [Don G. Chastain, CPA](https://info.machen.cpa/blog/author/don-g-chastain-cpa) on Jun 21, 2018 [![](https://info.machen.cpa/hubfs/Midyear%20financial%20small.jpg)](https://info.machen.cpa/blog/tools-to-help-you-reach-major-financial-goals) It's midyear, time to check your progress toward financial goals. [Full Story](https://info.machen.cpa/blog/tools-to-help-you-reach-major-financial-goals) Posted in [Retirement & Wealth Management Planning](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) ## [2 Tax Law Changes That May Affect Your Business's 401(k) Plan](https://info.machen.cpa/blog/2-tax-law-changes-that-may-affect-your-businesss-401k-plan) ![](https://info.machen.cpa/hs-fs/hub/471263/file-2626477966.jpg) Posted by [Don G. Chastain, CPA](https://info.machen.cpa/blog/author/don-g-chastain-cpa) on Jun 12, 2018 [![](https://info.machen.cpa/hubfs/06_11_18-645752726_SBTB_560x292-074214-edited.jpg)](https://info.machen.cpa/blog/2-tax-law-changes-that-may-affect-your-businesss-401k-plan) When you think about recent tax law changes and your business, you’re probably thinking about the new 20% pass-through deduction for qualified business income or the enhancements to depreciation-related breaks. Or you may be contemplating the reduction or elimination of certain business expense deductions. But there are also a couple of recent tax law changes that you need to be aware of if your business sponsors a 401(k) plan. [Full Story](https://info.machen.cpa/blog/2-tax-law-changes-that-may-affect-your-businesss-401k-plan) Posted in [Business Advisory](https://info.machen.cpa/blog/topic/business-advisory) ## [Is Your Not-for-Profit Financially Fit?](https://info.machen.cpa/blog/is-your-not-for-profit-financially-fit) ![](https://info.machen.cpa/hs-fs/hub/471263/file-2626477966.jpg) Posted by [Don G. Chastain, CPA](https://info.machen.cpa/blog/author/don-g-chastain-cpa) on May 24, 2018 [![](https://info.machen.cpa/hubfs/iStock-500073478-098628-edited.jpg)](https://info.machen.cpa/blog/is-your-not-for-profit-financially-fit) Being financially fit and stable is critical to any business, including a not-for-profit (NFP). If an NFP has a weak financial position, it may not be able to sustain its operations. While the perception by many in today’s society is that most NFPs are generally financially healthy, this is not always the case. For example, a recently published report noted that 41 percent of charities do not expect to make a profit over the next three years. An NFP’s liquidity is an important story to convey to the users of its financial statements. [Full Story](https://info.machen.cpa/blog/is-your-not-for-profit-financially-fit) Posted in [Not For Profit](https://info.machen.cpa/blog/topic/not-for-profit) ## [Can You Afford To Retire Early?](https://info.machen.cpa/blog/can-you-afford-to-retire-early) ![](https://info.machen.cpa/hs-fs/hub/471263/file-2626477966.jpg) Posted by [Don G. Chastain, CPA](https://info.machen.cpa/blog/author/don-g-chastain-cpa) on Apr 06, 2018 [![](https://info.machen.cpa/hubfs/iStock-652225612-141594-edited.jpg)](https://info.machen.cpa/blog/can-you-afford-to-retire-early) **Answer the key questions below:** If you are like many Americans, you may have visions of an early retirement. Although there are usually hurdles to overcome, the dream may become a reality, depending on your answers to the following questions. [Full Story](https://info.machen.cpa/blog/can-you-afford-to-retire-early) Posted in [Retirement & Wealth Management Planning](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) ## [Compare the Two Types of IRAs](https://info.machen.cpa/blog/compare-the-two-types-of-iras) ![](https://info.machen.cpa/hs-fs/hub/471263/file-2626477966.jpg) Posted by [Don G. Chastain, CPA](https://info.machen.cpa/blog/author/don-g-chastain-cpa) on Mar 12, 2018 [![](https://info.machen.cpa/hubfs/iStock-490129404-041826-edited.jpg)](https://info.machen.cpa/blog/compare-the-two-types-of-iras) **Distinguishing traditional IRAs from Roths** There are two basic types of IRAs: the traditional IRA and the Roth IRA. With either one, the deadline for contributions for the 2017 tax year is April 17, 2018. There are no extensions for making IRA contributions for 2017, even if you obtain an extension for filing your return. [Full Story](https://info.machen.cpa/blog/compare-the-two-types-of-iras) Posted in [Retirement & Wealth Management Planning](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) ## [A Joint Home Purchase Can Ease Estate Tax Liability](https://info.machen.cpa/blog/a-joint-home-purchase-can-ease-estate-tax-liability) ![](https://info.machen.cpa/hs-fs/hub/471263/file-2626477966.jpg) Posted by [Don G. Chastain, CPA](https://info.machen.cpa/blog/author/don-g-chastain-cpa) on Feb 26, 2018 [![](https://info.machen.cpa/hubfs/iStock-474711954-706021-edited.jpg)](https://info.machen.cpa/blog/a-joint-home-purchase-can-ease-estate-tax-liability) If you’re planning on buying a home that you one day wish to pass on to your adult children, a joint purchase can reduce estate tax liability, provided the children have sufficient funds to finance their portion of the purchase. With the gift and estate tax exemption now set at an inflation-adjusted $10 million thanks to the Tax Cuts and Jobs Act, federal estate taxes are less of a concern for most families. However, the high exemption amount is only temporary, and there’s state estate tax risk to consider. [Full Story](https://info.machen.cpa/blog/a-joint-home-purchase-can-ease-estate-tax-liability) Posted in [Estate Planning](https://info.machen.cpa/blog/topic/estate-planning) ## [Small Business Owners: A SEP May Give You One Last 2017 Tax and Retirement Saving Opportunity](https://info.machen.cpa/blog/small-business-owners-a-sep-may-give-you-one-last-2017-tax-and-retirement-saving-opportunity) ![](https://info.machen.cpa/hs-fs/hub/471263/file-2626477966.jpg) Posted by [Don G. Chastain, CPA](https://info.machen.cpa/blog/author/don-g-chastain-cpa) on Feb 12, 2018 [![](https://info.machen.cpa/hubfs/02_12_18_810794590_SBTB_560x292-438199-edited.jpg)](https://info.machen.cpa/blog/small-business-owners-a-sep-may-give-you-one-last-2017-tax-and-retirement-saving-opportunity) Are you a high-income small-business owner who doesn’t currently have a tax-advantaged retirement plan set up for yourself? A Simplified Employee Pension (SEP) may be just what you need, and now may be a great time to establish one. A SEP has high contribution limits and is simple to set up. Best of all, there’s still time to establish a SEP for 2017 and make contributions to it that you can deduct on your 2017 income tax return. [Full Story](https://info.machen.cpa/blog/small-business-owners-a-sep-may-give-you-one-last-2017-tax-and-retirement-saving-opportunity) Posted in [Retirement & Wealth Management Planning](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) ## [Seven Time Tested Year-end Tax Tactics](https://info.machen.cpa/blog/seven-time-tested-year-end-tax-tactics) ![](https://info.machen.cpa/hs-fs/hub/471263/file-2626477966.jpg) Posted by [Don G. Chastain, CPA](https://info.machen.cpa/blog/author/don-g-chastain-cpa) on Nov 06, 2017 [![](https://info.machen.cpa/hubfs/iStock-859293124-727223-edited.jpg)](https://info.machen.cpa/blog/seven-time-tested-year-end-tax-tactics) 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:  [Full Story](https://info.machen.cpa/blog/seven-time-tested-year-end-tax-tactics) Posted in [Individual Tax](https://info.machen.cpa/blog/topic/individual-tax) ## [Pension Plans Aren't Yet A Relic Of The Past](https://info.machen.cpa/blog/pension-plans-arent-yet-a-relic-of-the-past) ![](https://info.machen.cpa/hs-fs/hub/471263/file-2626477966.jpg) Posted by [Don G. Chastain, CPA](https://info.machen.cpa/blog/author/don-g-chastain-cpa) on Oct 06, 2017 [![](https://info.machen.cpa/hubfs/IFF_Pensions_SNIPPET_560x292.jpg)](https://info.machen.cpa/blog/pension-plans-arent-yet-a-relic-of-the-past)   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. [Full Story](https://info.machen.cpa/blog/pension-plans-arent-yet-a-relic-of-the-past) Posted in [Retirement & Wealth Management Planning](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) ## [4 Reasons Not To Borrow From Your 401(k)](https://info.machen.cpa/blog/4-reasons-not-to-borrow-from-your-401k) ![](https://info.machen.cpa/hs-fs/hub/471263/file-2626477966.jpg) Posted by [Don G. Chastain, CPA](https://info.machen.cpa/blog/author/don-g-chastain-cpa) on Sep 01, 2017 [![](https://info.machen.cpa/hubfs/IFF_401kLoans_IMAGE_560x292.jpg)](https://info.machen.cpa/blog/4-reasons-not-to-borrow-from-your-401k) 401(k) loans are easy to get but should only be considered as a last resort. [Full Story](https://info.machen.cpa/blog/4-reasons-not-to-borrow-from-your-401k) Posted in [Retirement & Wealth Management Planning](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) [Next](https://info.machen.cpa/blog/author/don-g-chastain-cpa/page/2) Search this site on Google Search Google ### Recent Posts ### Subscribe to Blog ### Posts by Category - [Business Tax (356)](https://info.machen.cpa/blog/topic/business-tax) - [Business Advisory (238)](https://info.machen.cpa/blog/topic/business-advisory) - [Payroll, HR & Benefits (124)](https://info.machen.cpa/blog/topic/payroll-hr-benefits) - [Audit & Assurance (113)](https://info.machen.cpa/blog/topic/audit-assurance) - [Accounting & Outsourcing (81)](https://info.machen.cpa/blog/topic/accounting-outsourcing) - [Individual Tax (75)](https://info.machen.cpa/blog/topic/individual-tax) - [Tax Planning (33)](https://info.machen.cpa/blog/topic/tax-planning) - [Tax Updates (25)](https://info.machen.cpa/blog/topic/tax-updates) - [Retirement & Wealth Management Planning (18)](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) - [Taxation (15)](https://info.machen.cpa/blog/topic/taxation) - [Alerts (13)](https://info.machen.cpa/blog/topic/alerts) - [Business Valuation (11)](https://info.machen.cpa/blog/topic/business-valuation) - [News & Events (11)](https://info.machen.cpa/blog/topic/news-events) - [Tax News (11)](https://info.machen.cpa/blog/topic/tax-news) - [Individual Tax Planning (10)](https://info.machen.cpa/blog/topic/individual-tax-planning) - [Not For Profit (10)](https://info.machen.cpa/blog/topic/not-for-profit) - [Retirement Planning (9)](https://info.machen.cpa/blog/topic/retirement-planning) - [Estate Planning (8)](https://info.machen.cpa/blog/topic/estate-planning) - [Manufacturing Industry Insights (7)](https://info.machen.cpa/blog/topic/manufacturing-industry-insights) - [Individuals (1)](https://info.machen.cpa/blog/topic/individuals) - [Insider (1)](https://info.machen.cpa/blog/topic/insider) - [Professional Standard News (1)](https://info.machen.cpa/blog/topic/professional-standard-news) see all [![Returning\_Value](https://info.machen.cpa/hs-fs/file-2504250850-jpg/Machen-Blog-Image/Returning_Value.jpg)](http://machenmcchesney.com/about-us/mission-and-values/) - [![AICPA](https://machenmcchesney.com/img/logos/aicpa.jpg)](https://www.aicpa-cima.com/) - [![NACVA](https://machenmcchesney.com/img/logos/nacva.jpg)](http://www.nacva.com/) - ![2026 INSIDE Public Accounting Top 400](https://machenmcchesney.com/img/2026-ipa-top-400.jpg) - ![2026 Best of Auburn-Opelika](https://machenmcchesney.com/img/2026-best-of-auburn-opelika.jpg) - [![2025 Best of OA](https://machenmcchesney.com/img/2025-best-of-oa.jpg)](https://oanow.com/exclusive/readerschoice/ballot-2025/) - ![2026 Best of OA Winner](https://machenmcchesney.com/img/2026-best-of-oa-winner.jpg) - [![2025 Accounting Today Regional Leaders](https://machenmcchesney.com/img/2025-accounting-today-regional-leaders.jpg)](https://www.accountingtoday.com/) - [![ClearlyRated Best of Accounting](https://machenmcchesney.com/img/2024-best-of-accounting.jpg)](https://www.clearlyrated.com/accounting) - [![ClearlyRated Best of Accounting Employee](https://machenmcchesney.com/img/2024-best-of-accounting-employee.jpg)](https://www.clearlyrated.com/accounting) 1820 East University Drive, Auburn, AL 36830 | Tel: (334) 887-7022 | Fax: (334) 887-7221 1761 Taliaferro Trail, Montgomery, AL 36117 | Tel: (334) 244-8900 | Fax: (334) 364-0927 † This is not a CPA firm. \* Assurance, attest, and audit services provided by Frazier & Deeter, LLC. “Frazier & Deeter” is the brand name under which Frazier & Deeter, LLC\* and Frazier & Deeter Advisory, LLC† and its subsidiary entities provide professional services. 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