The Invisible Tax
Category: Financial Planning
One of the things married couples often do not consider in their planning is what I like to call the “Invisible Tax.”
Important Updates on IRA Tax Reporting
Category: Financial Planning
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.
What Can You Do Before the 2021 Tax Deadline?
Category: Financial Planning
Even though the 2020 calendar year ended, it doesn't mean the tax year has completely ended. There are a handful of items to consider before the April, 15th tax filing deadline.
Don’t Leave Your Last Round to Chance
Category: Financial Planning
I certainly would argue that building a business is more than just a dice game, but both involve risk. How you fill out your scoresheet in Yahtzee is a good example of what business owners might decide to do with their business profits.
Water Cooler Advice May Be All Watered Down
Category: Financial Planning
While executive benefits such as stock options, other equity compensation, and deferred compensation can be powerful accumulation tools, knowing how they fit into your overall financial picture can be challenging.
Spending That Can Wreck Retirement
Category: Financial Planning
In more than a decade of working with clients, I’ve discovered that one thing tends to do more damage to financial plans than any other.
Three Commonly Missed Opportunities by Executives
Category: Financial Planning
I’ve had the opportunity to work with a number of executives over the years and have found some commonly missed financial opportunities.
How to Use Your Deferred Compensation Plan
Category: Financial Planning
For most of us, it’s that time of the year when we make benefits elections for next year. These are important decisions.
An Executive’s Financial Guide
Category: Financial Planning » Estate & Transfer Planning
Our eBook, An Executive's Financial Guide, can help with your road map to retirement, as we show you new ways to make use of your wealth for purposes important to you.
3 Options to Help Keep Your Ducks in a Row
Category: Financial Planning
Proactively working off a budget is challenging, both emotionally and practically. Here are some of the tools members of our team use that have helped them successfully manage their cashflow.
Estate Planning Opportunities in a Low Interest Rate Environment
Category: Financial Planning
Many estate planning techniques are based on the Internal Revenue Code Section 7520 interest rate, which is at an all-time low of 0.6% as of June 2020.
Permanent Life Insurance Policies Need Reviews Too!
Category: Financial Planning
Is your life insurance policy performing as well as it could be? Guest blogger Eryka Morehead explains some factors that could be undermining your policy’s performance.
Preparing Your Own Tax Return: Is It Worth It?
Category: Financial Planning
Guest Blogger Eric Wahlstrom, CPA. With easy access to online or off-the-shelf software, preparing your own tax return is often appealing as an affordable, logical option.
Analyzing the American Families Plan Tax Proposal
Category: Financial Planning
After months of speculation, on September 13th, the House Ways and Means Committee released a proposal for tax reform effective in 2022 (and possibly in 2021 for selected provisions). The proposal contains a number of provisions that were expected, and a few surprises that we did not expect.
2022 Year-End Financial Checklist – Have You Reviewed Your Tax Situation?
Category: Financial Planning
Since we are close to flipping the calendar to 2023, this is a great time to sit down and reflect on the past financial year and anticipate what might be ahead.
A Family Friend’s Close Call with a Cyber Scam
Category: Financial Planning
Tech support scams and phishing attacks are becoming increasingly sophisticated, making it crucial to stay vigilant. A recent incident involving a family friend highlights how easily fraudsters can gain remote access to a victim’s computer, install malware, and steal sensitive information. Read more to learn what to do if someone you know is compromised and discover actions to take to help stay secure online.
The IRS Punted on 2023
Category: Financial Planning
The IRS is allowing some people to skip their Required Minimum Distributions (RMDs) from inherited IRAs. If you inherited an IRA in 2020 or later, you may not need to make a distribution this year. Read for some background.
Maximize Your Limits
Category: Financial Planning
As many people are receiving their first paycheck of 2020, it is important to review your pay stub in order to maximize income. There are several changes you may want to make as we head into 2020.