Have You Considered a Cash-Balance Plan?
Category: Financial Planning » Taxes
Many business owners are looking for more tax-friendly ways to save for retirement. A cash balance plan could be the answer.
Iowa Income Tax Changes Have an Impact in 2022
Category: Financial Planning » Taxes
One of the significant changes in the tax reform bill signed by Governor Reynolds on March 1, is the eventual elimination of federal tax deductibility for determining taxable income. Iowa was one of the few remaining states that allowed taxpayers to deduct federal taxes to determine their state income taxes.
What Tax Documents Do Investors Need to File?
Category: Financial Planning » Taxes
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.
Game Saving Plays for 2021 Financial Planning
Category: Financial Planning » Taxes
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.
Analyzing the American Families Plan Tax Proposal
Category: Financial Planning » Taxes
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.
Are Those Happy Tears?
Category: Financial Planning » Taxes
Tears, bottles, diaper changes, onesies, little fingers, and strange sleep schedules – as many of you know, these are just a few of the things to expect when you bring home your newborn from the hospital. And here’s something else to expect: new tax credits! While I know good parents don’t have kids to lower their tax bill, it’s nice of the US Government to extend a bit of kindness to those taking on the heartache – and joy! – of becoming parents.
Raising Kids, Lowering Taxes
Category: Financial Planning » Taxes
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.
What Can You Do Before the 2021 Tax Deadline?
Category: Financial Planning » Taxes
As you wait for those semi-warm days of spring, there are a few things you can do between now and April 15th connected to your 2020 tax return.
Tips to Help Keep You on Track for Your Financial Goals
Category: Financial Planning » Taxes
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.
Game Saving Plays for 2021 Financial Planning
Category: Financial Planning » Taxes
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.
Analyzing the American Families Plan Tax Proposal
Category: Financial Planning » Taxes
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.
Are Those Happy Tears?
Category: Financial Planning » Taxes
Tears, bottles, diaper changes, onesies, little fingers, and strange sleep schedules – as many of you know, these are just a few of the things to expect when you bring home your newborn from the hospital. And here’s something else to expect: new tax credits! While I know good parents don’t have kids to lower their tax bill, it’s nice of the US Government to extend a bit of kindness to those taking on the heartache – and joy! – of becoming parents.
Raising Kids, Lowering Taxes
Category: Financial Planning » Taxes
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.
What Can You Do Before the 2021 Tax Deadline?
Category: Financial Planning » Taxes
As you wait for those semi-warm days of spring, there are a few things you can do between now and April 15th connected to your 2020 tax return.
Tips to Help Keep You on Track for Your Financial Goals
Category: Financial Planning » Taxes
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.
Important Updates on IRA Tax Reporting
Category: Financial Planning » Taxes
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.
Preparing Your Own Tax Return: Is It Worth It?
Category: Financial Planning » Taxes
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.
The Invisible Tax
Category: Financial Planning » Taxes
One of the things married couples often do not consider in their planning is what I like to call the “Invisible Tax.”
The Four Uses of Money
Category: Financial Planning » Taxes
Did you know that there are just four uses of money? They are Owe, Grow, Give, and Live.
Vaccine for Physician Pocketbooks
Category: Financial Planning » Taxes
While many in the healthcare profession are working tirelessly to meet the demands the COVID-19 virus has placed on the system, others have seen their hours cut and sources of income dwindle. Here are some options for those of you whose financial situation has changed dramatically in the past few months.
Who Is Your Team’s Financial General Manager
Category: Financial Planning » Taxes
No matter what the circumstances, during the good and the difficult times, it is in our best interest to seek guidance on the most important aspects of our lives. Consider hiring a "General Manager" to help you with your finances.