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Category: Tax Planning

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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Leveraging Qualified Charitable Distributions
Leveraging Qualified Charitable Distributions
Navigating the tax code to identify tax planning opportunities is tricky for the average joe. Even Albert Einstein said, “The hardest thing to understand in the world is the income tax.” With tax season wrapping […]
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Navigating Mutual Fund Capital Gains Distributions: Unraveling the Phantom Income Tax
Navigating Mutual Fund Capital Gains Distributions: Unraveling the Phantom Income Tax
30 Nov 2023
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As an investor, you most likely have a clear goal in mind: to grow your wealth over time while minimizing risk. Mutual funds have long been a popular choice for investors in pursuit of this […]
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How RMDs Work
How RMDs Work
A Required Minimum Distribution (RMD) from a retirement account is exactly what it says – required, mandated, a “must-do”.  It’s a specific, calculated amount that must be distributed from the account each year you live […]
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The Roth Conversion Window
The Roth Conversion Window
Retirement planning can be a complex and often daunting task, with numerous strategies and options to consider. One powerful tool that often goes underutilized is the Roth conversion. This financial maneuver allows you to optimize […]
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