Tax Planning for Self-Employed

Tax Planning for Self-Employed

How to Protect Your Assets in Estate Planning If you’ve worked hard to build your wealth, you’ll soon run into a major problem: protecting it from future potential creditors. We see clients more often than we’d like who neglected this problem and are hit out of nowhere with an accident, heavy healthcare costs, or missed […]

Tax Planning for Income

Tax Planning for Income

5 Ways to Lower Your Federal Income Tax Burden No one wants to pay more in federal taxes than they have to. It’s as simple as that. Here are five strategies you should consider to keep more of your income during tax time. 1.  Postpone Your Income to Minimize Your Current Income Tax Liability By […]

Strategies for Mutual Funds – Tax Strategies

Strategies for Mutual Funds – Tax Strategies

In our previous blogs, we’ve covered timing and selection strategies. The last series of strategies to consider when investing in mutual funds is tax strategies. After employing time on your side and carefully selecting the best funds for your portfolio’s strategy, you want to look at strategies to avoid taxes, as this can greatly impact […]

Strategies to Defer Taxes

Strategies to Defer Taxes

As Ben Franklin noted, the two inevitable forces of life are death and taxes. But just like you can use healthy habits to stave off the former, you can employ strategies to avoid the latter. One way to do this is to defer taxable income from one year to a later year to postpone payment […]

Early, Mid, and Late Retirement: The Guide to Planning and Taxes

Part 2 – Early, Mid, and Late Retirement: The Guide to Planning and Taxes

If you read our earlier guide on pre-retirement, you know that a lot of thought goes into planning for these later phases before you reach them. Now let’s get into what to expect and how to plan for your early, mid, and late retirement.   Early Retirement (Early 60s) During early retirement, your income should […]

Pre-Retirement: A Guide to Planning and Taxes

Part 1 – Pre-Retirement: A Guide to Planning and Taxes

So you’re ready to retire and enjoy your reward after years of work. Congratulations! The good news is if you’re like many people, you’ve prepared for this moment by funding retirement accounts over your career so you can supplement your Social Security payments. The bad news is taking money from those accounts in distributions is […]

7 Tax Investment Mistakes

7 Tax Investment Mistakes

The tax code is dense and complicated, and it’s easy to make mistakes. Even if you do everything else right, making only one or two tax mistakes can cost you a fortune. In this article, I’m going to show you a few simple solutions to help you avoid the most common tax mistakes people can […]

The Guide to Taxes and Your Retirement

The Guide to Taxes and Your Retirement

No matter how long you enjoy working, a day will come when you’ll have to retire. The good news is that many people are now entering retirement and are doing so with a significant amount of money in investments coupled with retirement accounts to supplement their social security. However, it is sad that many retirees […]

How Tax Planning Changes Through 4 Stages of Retirement

Every year, more clients are shocked by how much they have to pay in taxes. Whether it’s their IRA, 401(k), or another tax plan, they seem less prepared every year, and that’s understandable. Everyone knows the tax code is a convoluted mess, but few realize just how many hidden penalties lurk in the paperwork and […]

3 Mistakes to Avoid in Retirement Planning

It’s easy to get overwhelmed just thinking about preparing for retirement. With so many variables to consider, it’s hard to know what you should do about developing a strategy for retirement income. If you’re having trouble wrapping your hands around what you should do, you might want to begin by focusing on what you shouldn’t do. Here are three […]