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Personal, estate, and business tax planning strategies for 2023

Nationwide Financial

For example, they could make most of their charitable contributions and medical expenditures in a year they plan to itemize. Optimize retirement plan contributions The maximum allowable 401(k) contribution for 2023 is $22,500, with a $7,500 additional contribution, if the plan allows, for taxpayers who are 50 and over.

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20 Ways to Reduce Your Taxes in 2024: A Guide for Founders, Startup Employees, and Executives

Harness Wealth

Retirement contributions Individuals can take advantage of various tax-related retirement planning strategies to reduce their taxable income today and post-retirement. By working with a tax professional, you can apply tax strategies to reduce your taxable income or defer paying taxes.

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Does being a fiduciary financial advisor REALLY matter – or is it “meh?”

Sara Grillo

in Financial and Retirement Income Planning from The American College of Financial Services, where he was named the Sievert-Sternberg Doctoral Research Fellow, and is currently pursuing a Doctor of Criminal Justice degree from Northcentral University. 2017, January 18 th ). Lee holds a Ph.D. link] Schnase, Lorna A.