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Category: Tax Planning

Avoid These Common Tax-Loss Harvesting Mistakes
Avoid These Common Tax-Loss Harvesting Mistakes
Tax-loss harvesting is a valuable strategy for optimizing your investment portfolio and reducing taxes. While it may seem straightforward, even seasoned investors can stumble into costly pitfalls. Whether you’re a novice or an experienced investor, […]
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Should I Use a Donor Advised Fund When Giving to Public Charities?
Should I Use a Donor Advised Fund When Giving to Public Charities?
If you want to give money to your favorite charity, how should you do that? The obvious option is to write them a check (though these days, it’s more likely to be done electronically). Quick, […]
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Trump vs. Harris: How the Upcoming Election Impacts Financial Plans
Trump vs. Harris: How the Upcoming Election Impacts Financial Plans
As the presidential election on November 5 approaches, the financial landscape is filled with questions about how this election impacts financial plans. Recent polls indicate a competitive race between former President Donald Trump and Vice […]
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Do I Need to Hire a CERTIFIED FINANCIAL PLANNER® Professional?
Do I Need to Hire a CERTIFIED FINANCIAL PLANNER® Professional?
Financial advice and planning are unique to each individual’s situation—and so is the decision to hire a CERTIFIED FINANCIAL PLANNER® professional. For instance, a business owner may need guidance structuring their first deal, while a […]
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Tax Policy, the Stock Market, and Tax Planning
Tax Policy, the Stock Market, and Tax Planning
As Benjamin Franklin famously said, “in this world, nothing is certain except death and taxes.” Taxes are no one’s favorite topic but their importance cannot be overstated. Tax policy affects every aspect of our financial […]
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Understanding the Step-Up in Tax Basis
Understanding the Step-Up in Tax Basis
15 Aug 2024
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When it comes to estate planning and inheritance, one term you might have heard is the “step-up in tax basis.” While it may sound like financial jargon, understanding this concept can have significant benefits for […]
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Looking Ahead at the Tax Cuts and Jobs Act Sunset
Looking Ahead at the Tax Cuts and Jobs Act Sunset
26 Jun 2024
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“If you fail to plan, you are planning to fail” – Benjamin Franklin  The Tax Cuts and Jobs Act of 2017 (TCJA) will expire on December 31, 2025, unless Congress intervenes. Now, there’s a reason […]
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529 to Roth IRA Rollovers: What to Know
529 to Roth IRA Rollovers: What to Know
Beginning in 2024, 529 plan holders can roll their accounts into Roth IRAs without paying taxes or penalties. Having unused or leftover funds in a 529 plan account has been welcome news for many families. […]
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Changes in Marginal Tax Bracket, Deductions, Credits and Exclusions from 2023 to 2024
Changes in Marginal Tax Bracket, Deductions, Credits and Exclusions from 2023 to 2024
31 Jan 2024
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Tax season is upon us, and we are here to provide you with the essential updates that have been released by the IRS regarding the 2024 tax year. The main updates are inflation adjustments to […]
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What is IRMAA?
What is IRMAA?
Ah, retirement. The golden years, where you’re supposed to sit back and relax on a beach without a care in the world, right? But wait, what’s this? The Income-Related Monthly Adjustment Amount (IRMAA)!? Okay, so […]
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