The Chicago Financial Planner

NOVEMBER 27, 2022

One of the best tax deductions for a small business owner is funding a retirement plan. Beyond any tax deduction you are saving for your own retirement. The maximum for 2022 is $61,000, this has been increased to $66,000 for 2023. Employee contribution limits are $20,500 for 2022 and $22,500 for 2023. Eligibility.

Retirement Planning 263

Retirement Planning Retirement Planning Financial Planner 263

The Big Picture

APRIL 19, 2023

( The Atlantic ) • How 2022 Became a Record Year for US Income Taxes : An asset-price boom, a progressive tax code and inflation interacted to drive effective rates higher than ever. Bloomberg ) • Tax season is getting longer. Now the process is working in reverse. Blame climate change.

Taxes 272

Taxes Assets Management Marketing 272

Abnormal Returns

FEBRUARY 13, 2023

citywire.com) Taxes Five tax mistakes to avoid when it comes to stock options, RSUs, etc. tonyisola.com) Advisers RIAs continue to take share of IRA assets. riabiz.com) The number of CFPs grew some 5% in 2022. (fa-mag.com) (mattreiner.com) SEC The SEC is going to focus on the new marketing rule in 2023.

Clients 245

Clients Retirement Financial Services Taxes 245

Wealth Management

FEBRUARY 22, 2023

During the fourth quarter of 2022, 66 independent financial professionals affiliated with the tax-centric broker/dealer.

Recruitment 98

Recruitment Assets Taxes 98

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. I wrote a book about this).

Medicine 331

Medicine Numbers Food Insurance 331

Nerd's Eye View

APRIL 19, 2024

Also in industry news this week: The Office of Management and Budget (OMB) has completed its review of the Department of Labor's new "fiduciary rule ", indicating that it could be released in the coming days or weeks (though, like its predecessors, its ultimate disposition is likely to be determined in the courts) The IRS announced this week that it (..)

Financial Planner 246

Financial Planner CFP Financial Advisor Retirement Planning 246

Nerd's Eye View

OCTOBER 4, 2023

Furthermore, inflation, though down from its peak in early 2022, remains above the Federal Reserve's long-term target of 2% despite the bank's attempts to tamp it down. What's driving many of the economic conditions today are higher interest rates resulting from the Fed's efforts to fight inflation. And even though U.S.

Valuation 246

Valuation Economics Economy Marketing 246

The Big Picture

AUGUST 30, 2023

Whatever phrase you select, the persistent gap between investors’ performance and the assets they hold is a substantial drag on returns. In this report, we dig into these nuances and explore how differences in the timing of cash flows, sequence of returns, and asset size can impact this gap.

Assets 243

Assets Investing Investments Taxes 243

Nationwide Financial

AUGUST 29, 2022

Key Takeaways: Even without new legislation, the prospect of higher taxes in the future is still looming. The impact of higher taxes on retirees could be substantial, so staying up to date on the current tax landscape is vital. But even without new legislation, the prospect of higher taxes in the future is still looming.

Taxes 98

Taxes Retirement Accounting Budgeting 98

Nerd's Eye View

JULY 24, 2024

When the original SECURE Act was passed in December 2019, it brought sweeping changes to the post-death tax treatment of qualified retirement accounts. Act passed in late 2022. Act passed in late 2022.

Distribution 190

Distribution Retirement Accounting Tax Planning 190

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. Low Stakes : The most successful market timers are often those people who do not have actual assets at risk. It’s utterly laughable. 4 Newsletter writers are notorious for making big calls.

Marketing 304

Marketing Marketing Math Retirement Planning 304

Nerd's Eye View

AUGUST 12, 2022

As RIA firms’ challenges in attracting and retaining talent have continued, firms have needed to reduce their business development activities to stay within their existing staff's capacity (compounding the challenges of growing firm revenue during a bear market that has reduced most firms’ assets under management).

Financial Planner 245

Financial Planner Retirement Healthcare Numbers 245

Darrow Wealth Management

NOVEMBER 17, 2022

In November 2022, proponents of the Massachusetts ‘millionaires’ tax (question 1) won their bid to nearly double the income tax rate on individuals with taxable income over $1M a year. As proposed, the new legislation would increase these tax rates to 9% and perhaps even 16% , respectively, starting in 2023.

Taxes 96

Taxes Wealth Management Tax Planning Planning 96

Fortune Financial

NOVEMBER 22, 2022

The clock is ticking for taxpayers who wish to minimize the taxes they will owe in the spring. The IRS does not tax what you divert directly from your paycheck into your retirement or health savings accounts. In 2022, the limit for a 401(k) plan is $20,500 or $27,000 if you are age 50 or above.

Taxes 98

Taxes Education Retirement Financial Advisor 98

Good Financial Cents

SEPTEMBER 29, 2022

In this guide, we’re going to present the 10 best long-term investment strategies for 2022. The table below provides a quick summary of each of the 10 best long-term investment strategies for 2022, along with the main features and benefits of each. Below is our list of the 10 best long-term investment strategies for 2022.

Investing 109

Investing Investments Retirement Planning Risk Tolerance 109

The Big Picture

SEPTEMBER 19, 2023

The transcript from this week’s, MiB: Elizabeth Burton, Goldman Sachs Asset Management , is below. Elizabeth Burton is Goldman Sachs asset management’s client investment strategist. In fact, state revenues were often at all time highs from taxes when this happened. It depends on your asset allocation.

Assets 147

Assets Management Investing Investments 147

MainStreet Financial Planning

MARCH 7, 2023

It is March…that means you have just about 5 weeks left to get organized and submit your tax return. The tax deadline is April 18, 2023 (some taxpayers in disaster areas in California, Georgia and Alabama have an extended deadline). Gathering all your documents is crucial to complete a tax return free of mistakes.

Taxes 85

Taxes Retirement Planning Distribution Planning 85

Carson Wealth

DECEMBER 5, 2024

High net worth households gave nearly $35,000, on average, in 2022. In 2022, Americans contributed $85.53 The Tax Impact of Charitable Giving The personal financial and income tax impact from charitable giving can affect the size of the gift and the timing of giving. There are more than 1.8

Taxes 119

Taxes Nonprofit Accounting Assets 119

Random Roger's Retirement Planning

JUNE 27, 2024

If someone can build a portfolio robust enough to have at least a couple of things that go up in a terrible year like 2022, I could see a sort of mental accounting where someone thought they were lucky in a periods that was broadly unlucky.

Assets 95

Assets Portfolio Clients Taxes 95

Nationwide Financial

MARCH 6, 2023

Key Takeaways: Because the 2022 and 2023 standard deductions are relatively high ($27,700 in 2023 and $25,900 in 2022 for married couples filing jointly), it isn’t worthwhile for many taxpayers to itemize deductions. Tax season has begun, and it’s not too early to think about planning for the 2023 tax year.

Tax Planning 78

Tax Planning Taxes Planning Distribution 78

Good Financial Cents

JANUARY 16, 2023

We all witnessed the stock market’s volatility in 2022, as soaring inflation led to aggressive rate hikes over the course of the year. Access to wide array of alternative asset classes Access to ultra-wealthy investments Can invest for income or growth Learn More Now. Unique Asset Classes. Key Features of Yieldstreet.

Assets 94

Assets Investing Investments Accounting 94

Abnormal Returns

NOVEMBER 21, 2022

riabiz.com) Retirement Why retirees should include Social Security into their asset allocation. morningstar.com) Delaying taxes in retirement isn't always the best strategy. thinkadvisor.com) How Notice 2022-53 has affected the tax code. (riabiz.com) CI Financial ($CIXX) is planning to spin-off its U.S.

Financial Planner 148

Financial Planner Asset Allocation Recruitment Financial Advising 148

The Big Picture

NOVEMBER 20, 2023

Previously : Tax Alpha (April 14, 2022) Accessing Losses via Direct Indexing (April 14, 2021) The Cutting Edge (September 30, 2021) USA Is Smashing Its Clean Energy Targets (October 17, 2017) Sources : Wall Street’s ESG Craze Is Fading By Shane Shifflett WSJ, Nov. This is true whether you are pro-life or pro-environment.

Taxes 195

Taxes Portfolio Investments Investing 195

Abnormal Returns

SEPTEMBER 26, 2022

Podcasts Christine Benz and Jeff Ptak talk with Tim Steffen, director of tax planning for Baird. riabiz.com) Three positives, and three negatives, from the 2022 Future Proof festival. linkedin.com) Fintech Most people don't need asset management, they need paycheck management. Budge looks to solve this.

Tax Planning 130

Tax Planning Compliance Startup Financial Planning 130

Nerd's Eye View

AUGUST 12, 2022

As RIA firms’ challenges in attracting and retaining talent have continued, firms have needed to reduce their business development activities to stay within their existing staff's capacity (compounding the challenges of growing firm revenue during a bear market that has reduced most firms’ assets under management).

Financial Planner 179

Financial Planner Retirement Healthcare Numbers 179

WiserAdvisor

OCTOBER 11, 2022

While these can be avoided, there is another cash outflow that can considerably lower your savings and returns and is also hard to avoid – tax. Tax planning is essential. Tax is charged on every penny you earn. Tax evasion is a crime, and missing tax payments can lead to legal hassles that can be hard to get out of.

Financial Planning 80

Financial Planning Accounting Taxes Planning 80

Abnormal Returns

FEBRUARY 16, 2023

bloomberg.com) Bitcoin is at its highest level since June 2022. howardlindzon.com) Private assets Why private equity needs much better valuations. axios.com) Funds Tax efficiency is the secret sauce of ETFs. Markets The FTSE 100 Index has risen above 8,000 points for the first time ever. pragcap.com) Fidelity is hiring!

Financial Advising 148

Financial Advising Engineering Valuation Retail 148

Nationwide Financial

JANUARY 25, 2023

Review risk tolerance and current asset allocation strategy It’s important to ensure your clients’ portfolios align with their risk tolerance because taking too much risk can negatively impact their ability to navigate market fluctuations. Suppose they made emotional investment decisions during the market volatility of 2022.

Risk Tolerance 102

Risk Tolerance Retirement Planning Asset Allocation Retirement 102

Good Financial Cents

NOVEMBER 9, 2022

Having enough income-producing assets working in your favor can make it possible to “live rich” – or at least get by – without ever having to clock in for an employer again. These people have income-producing assets spinning off profits or dividends, and they use those funds to pay for their bills and lifestyle.

Assets 93

Assets Accounting Investments Investing 93

The Big Picture

MAY 9, 2023

He is the Chief Investment Officer of Asset and Wealth Management at Goldman Sachs. He co-chairs a number of the asset management investment committees. trillion in assets under supervision. JULIAN SALISBURY, CHIEF INVESTMENT OFFICER OF ASSET AND WEALTH MANAGEMENT, GOLDMAN SACHS: Thanks, Barry. And I think you will also.

Assets 299

Assets Clients Investments Investing 299

Walkner Condon Financial Advisors

NOVEMBER 11, 2022

2022 has been a difficult and trying year for stock and bond indexes in both emerging and developed markets. Bear in mind that IRA accounts do have income restrictions so it is important to work with your financial advisor or tax preparer to determine if you are eligible to contribute in 2022. The gift limit for 2022 is $16,000.

Insurance Coverage 98

Insurance Coverage Retirement Planning Financial Advisor Taxes 98

The Big Picture

APRIL 13, 2023

Corvette is already planning one. ( New York Times ) see also A Classic American Car Is Having an Identity Crisis : Ford’s electric Mustang, the Mach-E, is attracting an unusual bunch of drivers—including me. ( Now the process is working in reverse.

Medical 130

Medical Engineering Taxes Media 130

Integrity Financial Planning

OCTOBER 17, 2022

There are rules and regulations that can help you avoid higher taxes and penalty fees and help you structure your income to minimize taxes. In 2022, you can contribute up to $6,000 to an IRA if you are under 50 and an additional $1,000 if you are 50 or older. 1] Smart Asset. Take Catch-up Contributions at 50. 3] IRS.gov.

Retirement 95

Retirement Accounting Retirement Planning Distribution 95

James Hendries

JULY 13, 2023

But the donor or a representative of the donor has advisory privileges regarding the distribution of the funds or the investment of assets in the accounts. [i] i] Private Foundation – A private foundation is created when someone sets up a tax-exempt organization but does not file to be recognized as a public charity.

Distribution 98

Distribution Taxes Assets Accounting 98

The Big Picture

NOVEMBER 29, 2022

Get Big Tax Breaks for 2022 by Acting Now : From the timing of charitable donations to the unloading of money-losing investments, there’s still plenty you can do to reduce your taxes for this year. DCG, Genesis, and Grayscale Leave More Questions Than Answers : The digital assets market is reeling right now.

Retail 147

Retail Advertising Startup Taxes 147

Darrow Wealth Management

DECEMBER 5, 2022

Donating appreciated stock to charity can be a great way to give back and reduce your tax bill. Taxpayers who itemize get a tax deduction for the market value of the stock. If you want to make a gift for the 2022 tax year – act now. These two steps don’t need to happen in the same tax year. Give wisely.

Taxes 83

Taxes Wealth Management CFP Valuation 83

Random Roger's Retirement Planning

JUNE 1, 2024

One complicating factor is that tax is owed annually on the amount of the par value adjustment so qualified accounts might be better for individual TIPS. That sounds good of course but in reality, being immunized isn't exactly how it played out in 2022. The worst year for all three was of course 2022.

Taxes 94

Taxes Management Accounting Numbers 94