Here’s what you need to know about 2024 retirement plan contribution...
Updates – Income Tax
Donor Advised Funds can increase gifts to your favorite charity and reduce taxes all without it costing anything more!
Is my social security taxable? How much will I pay? Is there anything I can do? These are very common questions when thinking about your retirement income plan. Here's what you need to know.
Paying for college isn’t cheap and it’s not getting cheaper, whether you’re planning for kids or grandkids. Here's why a 529 plan is a great first step toward making sure your children or grandchildren can achieve their educational aspirations.
Planning for a child with special needs carries a range of complexities. There is no single best strategy – your situation needs a customized approach, but these strategies should help make an informed decision for your child and family.
A discussion of giving too much away might initially seem strange. But, if you’re not careful, you might inadvertently end up with a tax bill on funds you give away. This is called the gift tax and the IRS expects you to know it. After all, they’ve generously listed it on their website for you to read! So, how does it work?
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!
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 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.
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?
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?
It's one of the most frequent discussions we have with new dental...