Unless you’ve been living under a rock (and if you have, please stop, that sounds very uncomfortable), you’re aware of the banking crisis kicked off by the Silicon Valley Bank collapse and its ripple effects on the financial markets. You may be thinking, “Well, that’s an understatement. I’m downright worried.” Yes, this story is developing
Welcome to March, where tax season is in full swing, and we’re gathering all the documentation needed to prepare for The Big Event: April 15th. While tax season weighs on all of us, it’s particularly challenging this year, given significant changes to the tax code. Don’t worry. We’re not going to delve into that right
In our prior blog we talked about the idea of “New Year, New Me!” and how the season of renewal inspires us to live better lives. Maybe for you, 2023 marks a “New Year, New Job,” and you’ve moved on to a chapter of your career at a new company. Or your 2023 bucket list
The New Year is here, and the battle cry of “New Year, New Me!” can be heard from all corners. Folks are back at the gym, eating their veggies, participating in Dry January, and hitting the pillow at 9 p.m. sharp. The renewed energy and mindset this time of year are contagious and inspire us
Liquefy Illiquid assets (real estate) and produce more net income to you and more inheritance to your heirs There are ways to be able to take advantage of opportunities in the tax code, including but not limited to: income tax law, estate tax law, insurance law, pension law, and lending laws that you need to
Establishing a retirement plan for your company is a decision that could make a great difference in the retirement preparedness of your employees, and yourself. The Federal Reserve’s 2015 Report on the Economic Well-Being of U.S. Households in 2014 found that only 31 percent of non-retired survey respondents had no retirement savings whatsoever. Only 46
When we think of retirement, we imagine enjoying a home-cooked meal with family, vacationing in sunny locations, and losing ourselves in our favorite hobbies. We look forward to relaxing and enjoying our golden years, and we save our money to pay for those expected costs. But our imagined retirement betrays us by ignoring the realities
Would you like to learn how to increase your net after-tax distribution, while reducing your taxes and increasing the deductible contribution to your retirement plan? MAXIMIZING YOUR RETIREMENT BENEFITS There are provisions in the IRS tax code that allow for incidental benefits to be provided by your business sponsored retirement plan. These benefits could include
What is your exit plan for your large IRA balance? Converting your IRA to a Roth IRA with minimal or zero taxes As you may or may not be aware, all of the assets in your IRA and pension or profit sharing plan will be subject to income taxes and possibly estate taxes and probate
The answer may shock you When asked to identify their biggest expense, most people, no matter how successful or savvy, struggle to provide the correct answer. We receive answers like, “my home mortgage,” or, “my child’s tuition bill,” and while those are considered as some of the largest of all expenses, they don’t come even