The Chicago Financial Planner

OCTOBER 21, 2021

Many of you have the option to enroll in high-deductible insurance plans that allow the use of a health savings account via your employer. This is up from $285,000 in 2019, from $275,000 in 2017 and from $220,000 in 2014. High deductible health insurance plans . The estimate was $190,000 in their 2005 survey.

Retirement Planning 193

Retirement Planning Accounting Retirement Planning 193

Carson Wealth

DECEMBER 8, 2023

Petersen, CPA, CFP ® , CP, Affluent Wealth Planning The holidays are upon us! That must mean it’s time to roll up my sleeves and get to work on year-end financial planning – with an emphasis on 2023 income tax. One consideration this year is that we’re two years from the expiration of the Tax Cuts and Jobs Act of 2017 (TJCA).

Planning 143

Planning Retirement Planning Taxes Retirement 143

Abnormal Returns

JUNE 9, 2024

wsj.com) Policy What happens if the 2017 tax cuts lapse. wsj.com) A plan to invest and accelerate agricultural productivity. (nytimes.com) Russia's population has been shrinking for decades. wsj.com) Investing in ports has positive spillover economic effects. ifp.org) Calls to restrict access to birth control are on the rise.

Financial Advising 278

Financial Advising Budgeting Economics Media 278

Nerd's Eye View

OCTOBER 1, 2022

A new bill would make many parts of the Tax Cuts and Jobs Act of 2017 permanent, including its changes to tax brackets, the higher standard deduction, and the cap on state and local tax deductions. What advisory firms can do to make the most out of client testimonials and avoid negative reviews on third-party websites.

Financial Planner 245

Financial Planner Retirement Planning Advertising Taxes 245

The Big Picture

APRIL 11, 2024

And even still, fund fees and taxes remained a major cost element. In 1978, Congress enacted Internal Revenue Code Section 401(k), which allowed tax-deferred savings through a company-administered plan. Lower trading costs, a rampaging bull market, and tax-deferred investing led to millions of new entrants into markets.

Commission 351

Commission Taxes Management Electronics 351

Darrow Wealth Management

JULY 1, 2024

The 2017 Tax Cuts and Jobs Act (TCJA) brought sweeping changes to the tax code, impacting every taxpayer and business owner. At that point, many provisions will revert to 2017 levels, adjusted for inflation. For example, in 2017, the marginal tax brackets were 10%, 15%, 25%, 28%, 33%, 25%, and 39.6%.

Taxes 101

Taxes Tax Planning Planning Estate Planning 101

Cordant Wealth Partners

NOVEMBER 18, 2024

We also get you up to speed on the tax benefits of using a DAF. If you've heard of a DAF and are curious about incorporating it into your giving and tax planning strategy, this article is for you. Key Takeaways: Contributions to a donor-advised fund reduce your tax bill in the year your contribution is made.

Taxes 52

Taxes Tax Planning Nonprofit Accounting 52

Harness Wealth

JANUARY 10, 2025

Tax advice is a common topic on social media platforms like TikTok. Influencers promise easy ways to secure tax deductions, simplifying complex ideas into bite-sized claims that gloss over important details in the process. Can Hiring Your Children Help You Save on Taxes? Can You Claim Your Pet as a Tax Write-Off?

Taxes 52

Taxes Assets Media Education 52

Zajac Group

NOVEMBER 7, 2024

Creating wealth that can provide financial security for generations to come is an incredible feat, and it requires careful planning, consideration, and communication among family members. Let’s take a look at the tax impact and other considerations of each. million before triggering federal estate taxes).

Planning 52

Planning Estate Planning Taxes Assets 52

Carson Wealth

FEBRUARY 29, 2024

It’s a simple, human act – one that seems like it shouldn’t take too much planning to do it correctly. But when does gifting become a tax issue? What do you need to consider about gifting as it relates to your overall estate plan? Taxes on Giving??? Why do you have to pay taxes on money you’re giving away?

Taxes 96

Taxes Financial Planning Planning Estate Planning 96

The Big Picture

JULY 27, 2022

Consider these columns going back to 2013 pointing out the foolishness of tax-payer subsidized corporate welfare queens (2013), and why median wages were rising ( 2016 , 2017 , 2018 , 2018 , 2019 ). The 2010s monetary rescue plan benefitted anybody who owned capital assets: Stocks, Bonds, and Real Estate.

Medicine 331

Medicine Numbers Food Insurance 331

The Big Picture

FEBRUARY 27, 2023

equity valuations: “Baby-boomers’ huge flow of 401K plan contributions helped to drive equities higher; now that ~70 million Boomers are retiring, when do demographics flip this from a huge positive to a net drag?” This demographic cohort is simply not a seller due to retirement – the tax expenses would be too great.

Distribution 325

Distribution Retirement Retirement Planning Taxes 325

Zoe Financial

JANUARY 28, 2025

Looking at the same 1950-2017 period, but looking through the lens of five-year investment horizons, returns for the S&P 500 ranged from down 3% to up 28%. Zoe Financial is not an accounting firm – clients and prospective clients should consult with their tax professional regarding their specific tax situation.

Marketing 98

Marketing Marketing Financial Advisor Taxes 98

Nationwide Financial

MARCH 6, 2023

For example, they could make most of their charitable contributions and medical expenditures in a year they plan to itemize. Even if a client believes they would not be subject to estate or gift tax under current law, you may want to re-examine the value of their assets to determine whether they exceed a lower exemption amount.

Tax Planning 78

Tax Planning Taxes Planning Distribution 78

Brown Advisory

DECEMBER 4, 2017

2017 Year-End Planning Letter. Mon, 12/04/2017 - 13:10. presidential election, we have grappled with the lack of clarity regarding the details of new tax legislation. The outcome of the tax reform debate is likely to impact how we advise clients on tax planning, estate planning and a host of other topics.

Planning 52

Planning Taxes Clients Tax Planning 52

MainStreet Financial Planning

JANUARY 3, 2024

The maximum amount of earnings subject to Social Security tax (taxable maximum) will increase to $168,600 from $160,200. More Information If you would like to read more about the 2024 changes from the IRS here is the IRS Publication and summary at the Tax Foundation website.

Taxes 95

Taxes Retirement Planning Accounting Planning 95

The Big Picture

NOVEMBER 27, 2023

This is before we get to the issue of capital gains taxes, which create a hurdle of (minimum) 20% on those pesky profits just to get to breakeven. When you get it wrong, it crushes your retirement plans. Let’s add some color to the discussion on timing itself and add a little nuance.1

Marketing 304

Marketing Marketing Math Retirement Planning 304

Harness Wealth

MARCH 27, 2025

Pass-Through Entity Tax (PTET) is a state-level tax mechanism designed to sidestep the federal State and Local Tax (SALT) deduction limit. Allowing a pass-through entity to pay state income taxes directly, PTET effectively shifts the tax burden from individual owners to the business itself.

Taxes 52

Taxes Compliance Consulting Financial Planning 52

Harness Wealth

DECEMBER 30, 2024

However, as appealing as these forms of compensation may be, they can result in sizable and unexpected tax bills. Along with the 83(b) election, there is a less well-known provisionthe 83(i) election that offers other tax advantages to certain types of employees. Table of Contents What is an 83(i) election?

Taxes 52

Taxes Compliance Compensation Planning Financial Advisor 52

Harness Wealth

JULY 29, 2024

In this guest post, Harness Tax Advisory Council member, Griffin Bridgers, J.D., covers some of the top estate planning trends that tax advisors should be tracking during the second half of 2024. However, awareness is key, both for clients and advisors. citizens and residents. The SECURE Act 1.0

Estate Planning 59

Estate Planning Taxes Planning Tax Planning 59

Yardley Wealth Management

MARCH 1, 2022

The post Part 3: Tax-Wise Financial Planning appeared first on Yardley Wealth Management, LLC. Part 3: Tax-Wise Financial Planning In our last two pieces, we covered some tools of the tax-planning trade, as well as how to deploy them for tax-efficient investing. Life happens. You buy a business.

Financial Planning 52

Financial Planning Taxes Planning Tax Planning 52

Yardley Wealth Management

MARCH 1, 2022

The post Part 3: Tax-Wise Financial Planning appeared first on Yardley Wealth Management, LLC. Part 3: Tax-Wise Financial Planning. In our last two pieces, we covered some tools of the tax-planning trade, as well as how to deploy them for tax-efficient investing. . Tax-Planning Possibilities.

Financial Planning 52

Financial Planning Taxes Planning Tax Planning 52

Carson Wealth

DECEMBER 27, 2023

By Ryan Egolf, EA, Senior Tax Planner As the New Year quickly approaches, it’s time to put a bow on your 2023 financial plan. While this is by no means an exhaustive or comprehensive list of financial planning tools, these three broad areas will get you headed in the right direction. In some cases, those payments are tax-free.

Planning 89

Planning Retirement Planning Insurance Taxes 89

Park Place Financial

JANUARY 9, 2023

FINANCIAL PLANNING Tax and Financial Planning Ideas For 2023 Schedule a Complimentary Financial Review CLICK HERE TO SCHEDULE. Additionally, the government has made changes to tax rules, further prompting Americans to reevaluate their tax and financial strategies. Tax Deductions . Health Savings Accounts .

Financial Planning 52

Financial Planning Taxes Planning Certified Financial Planner 52

NAIFA Advisor Today

AUGUST 16, 2023

Brought to you exclusively by NAIFA and the Society of FSP, this essential webinar delves deep into the time-sensitive implications of provisions in the Tax Cuts and Jobs Act (TCJA) of 2017 that are scheduled to sunset by 2025.

Taxes 52

Taxes Estate Planning Clients Planning 52

Darrow Wealth Management

JULY 1, 2024

The 2017 Tax Cuts and Jobs Act (TCJA) brought sweeping changes to the tax code, impacting every taxpayer and business owner. At that point, many provisions will revert to 2017 levels, adjusted for inflation. For example, in 2017, the marginal tax brackets were 10%, 15%, 25%, 28%, 33%, 25%, and 39.6%.

Taxes 52

Taxes Tax Planning Planning Estate Planning 52

eMoney Advisor

NOVEMBER 10, 2022

What can we learn from celebrity estate planning disasters like this? Such cautionary tales prove the value of proper planning. With 63 percent of Americans making $80,000-plus a year saying they “just haven’t gotten around” to estate planning, there’s plenty of room for improvement in that department.

Estate Planning 78

Estate Planning Clients Planning Financial Planner 78

Harness Wealth

DECEMBER 8, 2022

Not only was the stock market fairly volatile, but there were also atypical tax regulation changes. Tax-loss harvesting. Paying taxes on investment gains can be a financial burden, but tax loss harvesting can reduce your bill. You can claim as much capital loss as your realized capital gain plus $3,000.

Tax Planning 52

Tax Planning Taxes Planning Estate Planning 52

Darrow Wealth Management

MARCH 24, 2024

6 tax strategies for incentive stock options and AMT Triggering the alternative minimum tax isn’t the end of the world, but you don’t want to do it by accident. Exercise ISOs early in the year to manage or avoid AMT To get long-term capital gains tax treatment, you need to hold ISOs through the end of the year of exercise.

Taxes 59

Taxes Tax Planning Planning Financial Advisor 59

Integrity Financial Planning

SEPTEMBER 11, 2023

Most retirees take the standard deduction on their taxes as opposed to choosing to itemize. [1] 1] But, as of the 2017 Tax Cuts and Jobs Act, the only way to benefit tax-wise from donations is to opt to itemize. [1] You are encouraged to consult your personal tax advisor or attorney.

Retirement 98

Retirement Taxes Distribution Tax Planning 98

Random Roger's Retirement Planning

NOVEMBER 20, 2024

Where Sam writes about FIRE, he asked Bengen what a safe withdrawal rate would be for someone who retired, planning to need the money to last for 50 years instead of the typical 30 used for planning purposes. which Sam then worked through to come up with a path to people being able to retire much sooner than they typically plan on.

Retirement 52

Retirement Retirement Planning Clients Engineering 52

Brown Advisory

NOVEMBER 1, 2019

2019 Year-End Planning Letter. Each year, we send a letter to clients to help guide year-end planning discussions and to offer ideas for them to consider with their other advisors. Market conditions may be volatile, but our planning efforts are, as always, focused on stability and consistency. Fri, 11/01/2019 - 13:44.

Planning 52

Planning Taxes Clients Assets 52

Advisor Perspectives

OCTOBER 1, 2023

When those changes involve tax law, it is extremely important for clients to meet with their financial professional, tax advisor, and legal advisor to discuss any adjustments that may need to be made to their financial, retirement, or estate plan. My guests today are two members of the MassMutual team.

Taxes 52

Taxes Estate Planning Distribution Sales 52

Advisor Perspectives

SEPTEMBER 27, 2023

When those changes involve tax law, it is extremely important for clients to meet with their financial professional, tax advisor, and legal advisor to discuss any adjustments that may need to be made to their financial, retirement, or estate plan. My guests today are two members of the MassMutual team.

Taxes 52

Taxes Estate Planning Distribution Sales 52

Darrow Wealth Management

MARCH 29, 2024

If you have incentive stock options, you’ve probably heard of the alternative minimum tax (AMT). Essentially, the alternative minimum tax is a prepayment of taxes. The credit reduces your tax liability to reflect prepaid tax. Early sales of ISOs are taxed in the regular tax system.

Taxes 96

Taxes Tax Planning Planning Wealth Management 96

Darrow Wealth Management

MARCH 24, 2024

6 tax strategies for incentive stock options and AMT Triggering the alternative minimum tax isn’t the end of the world, but you don’t want to do it by accident. Exercise ISOs early in the year to manage or avoid AMT To get long-term capital gains tax treatment, you need to hold ISOs through the end of the year of exercise.

Taxes 52

Taxes Tax Planning Planning Financial Advisor 52

Brown Advisory

NOVEMBER 28, 2018

2018 Year-End Planning Letter. Each year, we send a letter to clients to help guide our year-end planning discussions with them and to offer ideas for them to consider with their other advisors. As we discuss below, the new tax law offers a number of opportunities for adjusting long-term plans. THE NEW TAX LAW.

Planning 52

Planning Taxes Clients Estate Planning 52