It is the taxpayer’s responsibility to keep records of distributions made to charity and contributions to their IRA and account for those on their tax return.
In the investing world, how can it be possible to win even when you lose? That is precisely what occurs when utilizing a tax loss harvesting strategy. Let's take a look!
In this special edition of Financial Perspectives, Kent Kramer is joined by Foster Group advisors Marcus Iwig and Caleb Brown as they share essential year-end tax planning tips. Discover how to make tax-efficient charitable donations from your IRA, maximize deductions by combining multiple years of giving, and convert pre-tax retirement accounts to Roth IRAs.
It's that time of year – what's left on your list for 2022? This week, Kent Kramer discusses three possible ways to save on taxes, one possible way to increase the return on your cash, and one cautionary tale as a reminder as we think about investing in 2023.
While this year has had its share of negative financial news, there might be one opportunity to pay some taxes now in order to save some money on taxes later. This week, Kent Kramer walks us through Roth IRA conversions.
Many business owners are looking for more tax-friendly ways to save for retirement. A cash balance plan could be the answer.
I used to laugh at the TV commercial years ago that stated, “Most people spend more time planning their vacation than their retirement.” It’s funny how your perspective can change with time. Now, I gladly note all details of a personal trip, perhaps as a parallel of my work.
I start getting anxious this time of year when I am forced to collect all the necessary information for my tax advisor. In preparation for the upcoming tax deadline, Monday, April 18, 2022, I wanted to summarize what to expect in the way of relevant tax information related to your investments.
Once the proverbial game clock expires on December 31st, our financial decisions are, for the most part, locked in. There’s no going back. Here are some suggestions to consider for your savings and/or to mitigate the tax bite for 2021.
Personal financial planning is critical to help ensure that, in both good times and bad, emotions do not lead to irrational money management decisions and costly mistakes.
You can’t have a championship team without a deep bench at your disposal. Foster Group takes the same approach, while we have a dedicated advisory team for every client we also have advisors with various skill sets that we can pull out of the bullpen and into a meeting at the right time.
Raising kids costs money. But what if I told you that raising kids also lowers taxes? Here are a few areas of tax relief available to parents.
Selling a business involves numerous considerations, particularly the tax implications for key shareholders. There are potential tax advantages available to business owners and key employees that can help mitigate these costs. Let's take a look.
