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.
We all fear uncertainty, but in volatile times, many Big Givers are particularly nervous. When primarily using wealth to support causes you care about, it’s natural to wonder “Are we going to be ok?” “What if we need those funds?” “Can we continue with these large gifts?” First, we should first acknowledge that these concerns are normal. Then, we can ask two key questions back.
Turn on the TV or scroll through a news feed in uncertain times and you’re sure to see that nasty “R” word - Recession. “How bad will this be?” “How long will this last?” It’s not uncommon to hear, “This one is different!” or “We’ve never seen this problem before!” So, what does history have to tell us about this topic?
“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.
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.
Can taxes really be turned into opportunities? We discuss a few strategies!
Whether you're retired and living on portfolio income or just starting...
Parents have a lot to deal with. You’re feeding, clothing, cleaning,...
Job loss, unexpected trip to the hospital, a tree falls on the house –...