The Mega Backdoor Roth 401(k) has typically been reserved for select Fortune 500 companies. Here's how you - the Solopreneur - can access this little known strategy!
If you are like most business owners, the bulk of your wealth is the value of your business, and at some point you want retire and harvest the value you have built. The majority of small to medium sized business owners only sell once, so the odds say this will be your first time selling a business. So what should you pay attention to? Here are six things with the biggest impact on the value and salability of your business.
You might be an early employee at Microsoft, a successful real estate investor, or the owner of a small business that has taken off. In each case, you own something worth a lot more than when you first acquired it. Now you’re staring down a large capital gain tax bill if you sell. Are you just stuck or is there anything you can do? We have a few ideas!
You might be an early Microsoft employee, tech company executive, or have been gifted shares of stock as a kid. You’d like to diversify, but the resulting tax bill seems almost as big as the portfolio itself! In Taxes & Highly Appreciated Stock, we’ll look at a case study and strategies to consider if you find yourself in this situation.
You own a few rentals, maybe an apartment building or two, and you’re looking at simplifying your life by selling them and retiring, but the tax bill is daunting. In this Real Estate Edition of our Strategic Guide to Highly Appreciated Assets, we’ll look at a case study and strategies you might consider if you find yourself in this situation.
What started as a dream in your garage is now a thriving business! You’ve worked hard and now see a sale in your future…and a sizable tax bill. In this Business Owners Edition of our Strategic Guide to Highly Appreciated Assets, we’ll look at a case study and strategies to consider if you find yourself in this situation.
When should I start Social Security? Should I take it now or wait until I’m 70? We hear this question in almost every retirement planning meeting. The right choice depends on your specific needs, but this guide will help you weigh your options and pick the best one for you!
Turning 65? Medicare can be a daunting topic, but this guide should help understand your options and build your plan to successfully enroll!
“Why are you throwing away money on rent when you could own?” Have you ever heard this? Its core assertion is that renting a home is an expense while owning a home is an investment. For most homeowners, however, this is unlikely to be the case.
Microsoft led the way in a rarely utilized benefit within their 401(k) plan – the after-tax Roth conversion. And, slowly but surely, other companies are adopting this plan feature. So, how does it work, what other companies offer it and is it worth it?
The recently passed CARES Act allows you to skip your Required Minimum...
No one likes a seeing their investments lose value. But opportunities exist in any situation, including market downturns. One such opportunity is called tax-loss harvesting. We discuss what it is, how it can help and when you might consider using it.
What would you do if you didn’t have to work? At first, you’d probably celebrate your newfound freedom – sleep in late, go out more, travel. You’d partake of the pleasures you didn’t have time for before. Maybe you’d even tackle all those home projects you’ve been putting off for years. But after the excitement wears off, what then?
Roth IRAs are one of the few ways to build tax-free retirement income. And with a long retirement time frame, they can build quite the snowball. But, if you make too much income, the IRS won’t let you contribute. Fortunately, for many, the Backdoor Roth IRA can help...so is it worth the extra effort?
In days, weeks and months of sharp declines, the first thought is often to sell stocks and “wait for things to stabilize”. Unfortunately, this usually means watching the market rebound and missing the upswing. Why do many advisors say you should ride it out? Because sharp market declines are usually followed by equally sharp recoveries.