Your Richest Life

FEBRUARY 27, 2024

Tax time is here again, and if you’re not one of the 25 million Americans who have already filed , then you’re probably going through the process of gathering what you need and preparing to file. The Child Tax Credit and Potential Changes The 2023 child tax credit is capped at a refundable amount of $1,600 – for now.

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Taxes Fee Only CFP Financial Planning 52

MainStreet Financial Planning

JANUARY 18, 2023

In 2022, the average American paid between about $100,000 – $200,000 for a four-year college education. This type of account allows your savings to grow tax-free and when you use the money to pay for college costs, withdrawals are tax-free too. Some states offer a tax deduction for contributions.

Education 52

Education CFP Retirement Planning 52

Nerd's Eye View

JULY 17, 2023

Our newest course on Life Insurance Policies adds to our existing programs on reviewing Tax Returns and navigating Estate Documents as well, and we're committed to continue to expand our financial advicer curriculum in the years to come!

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Ethics Financial Advice CFP Financial Advisor 200

Nerd's Eye View

JULY 25, 2022

2022 was a year that began with high hopes as households were slowly re-emerging from pandemic shutdowns, markets were reaching new highs, and most advisory firms had growing momentum. A gap our Kitces Courses aim to fill!

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Education Financial Planning Estate Planning CFP 198

Zoe Financial

FEBRUARY 16, 2023

To implement these strategies successfully, we must first understand the difference between claiming the standard tax deduction and itemizing deductions. In this blog post, we will explore three charitable giving strategies intended for a tax deduction, minimizing record keeping, and increasing donations to charity.

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Taxes Distribution CFP Accounting 52

MainStreet Financial Planning

JUNE 27, 2022

Acts, what that means to you and your Tax Planning in Retirement. Hosted by: Cynthia Flannigan , CFP®. CPA/PFS, CFP, EA, USTCP, AEP. also known as Securing a Strong Retirement Act of 2022 (HR2954), builds on the SECURE Act and its significant changes to retirement. The latest on the RISE & SHINE/SECURE 2.0

Tax Planning 52

Tax Planning Certified Financial Planner Retirement Taxes 52

Abnormal Returns

JANUARY 23, 2023

Podcasts Christine Benz and Jeff Ptak talk taxes with Jeffrey Levine, chief planning officer for Buckingham Strategic Wealth. thereformedbroker.com) FutureProof 2022 was a resounding success. kitces.com) CFP candidates are becoming more diverse. Sign up for the next go-round.

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Wealth Management Financial Advising CFP Communication 130

Your Richest Life

SEPTEMBER 12, 2022

2022 Fall and Winter Travel Prep. 2022 Holiday Spending and Inflation. Bonus: Gifts to charity are tax deductible.) . At Your Richest Life, Katie Brewer, CFP®, believes you too should have access to financial resources and fee-only financial planning. But this year, things are a little different. A looming recession?

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Budgeting Fee Only Financial Planning Planning 59

eMoney Advisor

JANUARY 12, 2023

Best for: All financial professionals, though most of the pro bono counseling opportunities are for CFP® professionals. E&O insurance: Yes, for CFP® pros in good standing who have completed training. Best for: Professionals with CFP®, CPA, ChFC®, CLU®, EA, CSLP®, or CDFA® credentials who want to help women.

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Financial Planning Planning Financial Planner CFP 107

Zoe Financial

APRIL 17, 2023

Implementing these strategies can help reduce tax bills, save more, and achieve financial goals sooner. The deadline for tax filing is around the corner. Besides meeting all the requirements for this date, have you considered the impact of implementing long-term tax strategies on your wealth?

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Taxes Retirement Tax Planning Accounting 40

Nerd's Eye View

SEPTEMBER 19, 2022

2022 marks the 50 th anniversary of the enrollment of students into the first Certified Financial Planner (CFP) course, and in the years since then, financial planning (and the process of creating a financial plan) has changed extensively.

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Financial Planner Certified Financial Planner Financial Planning CFP 200

Your Richest Life

OCTOBER 15, 2022

Health insurance is often the focus of open enrollment, but don’t forget about the other important benefits offered, like: Health Savings Account (HSA) – HSAs are savings accounts funded with pre-tax contributions. They also have tax-free earnings and tax-free withdrawals for qualified medical expenses.

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Insurance Medical Accounting Taxes 52

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.

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Taxes CFP Wealth Management Valuation 83

Walkner Condon Financial Advisors

FEBRUARY 21, 2023

This is an increase from the $20,500 you could contribute in 2022. This is an increase from the $6,500 catch-up contribution for 2022. This is an increase from the 2022 limit of $61,000 ($67,500 including catch-up contributions). You also may be able to make after-tax contributions into your 401k as well to get up to the limit.

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CFP Financial Advisor Fee Only Certification 59

eMoney Advisor

JUNE 8, 2023

I have been sharing my pronouns professionally for some time now on social media, during video meetings, and in discussions,” Laura LaTourette, CFP®, said in an editorial for Financial Planning magazine. For advisor and LGBTQ+ ally Woody Derricks, CFP®, ADPA®, this is a commonsense approach. “It’s

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CFP Financial Planning Clients Financial Planner 85

eMoney Advisor

MAY 1, 2023

John Eing, MBA, CPA, CFP® “Understanding cultural values can make you a better financial planner. James Lee, CFP® “Financial planning services are wanted and needed, and I feel that my service to FPA is my way of scaling financial planning to more people throughout society.” Here are eight of their stories to enjoy.

Financial Planning 101

Financial Planning Planning Financial Planner CFP 101

eMoney Advisor

APRIL 6, 2023

In a 2022 advisor technology study, 56 percent said they chose each tool on an individual basis, with an average of five tech vendors per practice. In a 2022 advisor technology study, 56 percent said they chose each tool on an individual basis, with an average of five tech vendors per practice. Sources: 1. The Cerulli Report.

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CFP Financial Planning Clients Planning 76

Darrow Wealth Management

AUGUST 8, 2022

In early 2022, the IRS proposed new changes, and if enacted, some inherited IRA beneficiaries will need to take RMDs again and could face big penalties. It’s probable that the IRS would waive penalties as the announcement only came in February 2022 and still isn’t law. What the IRS proposal wouldn’t change.

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Distribution Taxes Retirement Accounting 79

Indigo Marketing Agency

JANUARY 17, 2022

Here are 36 financial advisor influencers who will likely have a big impact on the industry in 2022. Steve Sanduski Steve Sanduski is a CFP® professional and personal coach to financial professionals. Jim Blankenship Jim Blankenship is a CFP® professional who specializes in Social Security, income tax, and personal finance.

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Financial Advisor CFP Financial Services Education 52

eMoney Advisor

NOVEMBER 10, 2022

Londell McMillan said in a 2022 hearing. With proactive legal and financial advice, the conflict over his name and likeness, large tax bill, and lengthy settlement process wouldn’t have been a foregone conclusion. Experts say an eight-figure estate tax bill is the likely result. It turns out, plenty.

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Estate Planning Clients Planning Financial Planner 78

Walkner Condon Financial Advisors

SEPTEMBER 2, 2022

And while ABLE accounts can be a bit more complex for Wisconsin residents, they offer significant tax benefits for individuals with disabilities and their families. The money in the account grows tax-deferred and income from the account is tax-free when used for qualified expenses. candidate for cfp® certification.

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Accounting Financial Advisor Certification CFP 98

Darrow Wealth Management

NOVEMBER 5, 2024

If eligible, you may be able to exclude up to 100% of the gain from federal taxes when you sell your shares through the capital gains tax exclusion. The potential tax savings simply cannot be understated. Using IRS Section 1202, taxpayers can sell stock potentially free of federal capital gains taxes if the requirements are met.

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Taxes Wealth Management Tax Planning Assets 65

eMoney Advisor

JANUARY 20, 2023

Act, signed into law December 29, 2022, is designed to help strengthen the retirement system and Americans’ preparedness for retirement. We’ll be taking an in-depth look at recent tax law updates for 2023, focusing on SECURE 2.0 Register now for the 2023 Tax Legislation Insights, Secure 2.0 The SECURE 2.0

Financial Advisor 89

Financial Advisor Retirement CFP Financial Planning 89

Darrow Wealth Management

NOVEMBER 20, 2023

Considering Roth conversions in retirement When you convert pre-tax money from an IRA to an after-tax Roth IRA, the amount converted is included in your taxable income. But in retirement, without a paycheck, it can be a great opportunity to control your tax situation for the year and fill up the lower tax brackets.

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Retirement Distribution Taxes Accounting 82

Darrow Wealth Management

OCTOBER 24, 2022

For example, what’s the best time of year to take required minimum distributions, how to reinvest it, or if you can avoid paying tax on RMDs. All else equal, (though it rarely is), it’s often best to stay invested as long as possible to prolong tax-deferred growth. How to take RMDs and avoid any taxes (legally of course).

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Distribution Taxes Retirement Accounting 64

Investing Caffeine

JANUARY 2, 2024

Although 2023 closed with a festive explosion, 2022 ended with a bearish growl. Effectively, 2023 was a reverse mirror image of 2022. In 2022, the stock market fell -19% (S&P) due to a spike in inflation. For the year just ended, much of the year felt like a party, but 2022 felt more like a funeral.

Economy 98

Economy CFP Accounting Economics 98

Darrow Wealth Management

JULY 24, 2023

However, in early 2022, the IRS proposed changes that would require some beneficiaries to take RMDs and empty the account in 10 years. February 2022: IRS proposes changes to Secure Act inherited IRA RMD rules In early 2022, the IRS issued proposed guidance that stunned the financial community.

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Distribution Retirement Accounting Taxes 52

Your Richest Life

SEPTEMBER 2, 2022

2020 or 2021 income applies, but 2022 income does not. Your loans must have been disbursed as of June 30, 2022. Do I have to pay taxes on the canceled debt? You do not have to pay federal taxes on the canceled debt. You do not have to pay federal taxes on the canceled debt.

Planning 102

Planning Fee Only Taxes CFP 102

Walkner Condon Financial Advisors

JUNE 2, 2023

Unfortunately, we’re not quite there yet as a society, since as of 2022, the Bureau of Labor Statistics reports only a third of financial advisors are women. In 2022, nearly 42% of the externships participants were women. Once women achieve their CFP® certification, the rate of relinquishment is extremely low.

Financial Planning 98

Financial Planning Planning CFP Financial Advisor 98

Zoe Financial

DECEMBER 23, 2022

Published December 21st, 2022. Written by: Lea Ann Knight, CFP® Zoe Network Advisor. Published December 21st, 2022. Written by: Lea Ann Knight, CFP® Zoe Certified Advisor. As 2022 draws to a close, do you ever wonder what the wealthy do in times like these? Recognize the losses for your tax return.

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Insurance Coverage Taxes Insurance Financial Advisor 52

Your Richest Life

AUGUST 31, 2023

Here are some resources to help you assess your budget: Busting Top Budget Myths Budget Like a Pro in Six Steps – Part 1 Budget Like a Pro in Six Steps – Part 2 Prepare for holiday spending The average American family expected to spend $932 on holiday shopping in 2022, a number that has been steadily increasing over time.

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Budgeting Financial Planner Taxes CFP 52

Carson Wealth

DECEMBER 1, 2022

CFP ® , Director of Consumer Investment Research. LLM, CFP ® , ChFC ® , CLU ® , RICP ® ,? An individual who learns to manage $4,000 a month after taxes will be equipped to manage $14,000 or even $40,000 a month as their earnings increase over time. Craig Lemoine, Ph.D., and Jamie Hopkins,?Esq., Careers, work and responsibility.

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Retirement Planning Risk Tolerance Retirement Budgeting 64

Darrow Wealth Management

DECEMBER 23, 2022

Congress is once again poised to make sweeping changes to the retirement and tax rules in the last two weeks of the year. There are many components of the 2022 Act that will impact employers that aren’t outlined below. IRAs: the $1,000 catch-up limit will be indexed by inflation for tax years starting in 2024.

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Retirement Retirement Planning Distribution Taxes 86

Investing Caffeine

DECEMBER 1, 2023

Source: Ed Yardeni (Yardeni Takes) Santa did not show up for a rally last December in 2022. for the Christmas month last year and finished 2022 down -19%. Slome, CFA, CFP® Plan. The S&P 500 index fell -5.9% www.Sidoxia.com Wade W. Subscribe Here to view all monthly articles.

Economy 91

Economy CFP Economics Investments 91

Darrow Wealth Management

NOVEMBER 14, 2022

1 year total return 11/2021 – 10/2022. These charts also highlight the downside of tax loss harvesting. Harvesting losses only for tax purposes can have broader implications due to the wash sale rules. Article written by Darrow Advisor Kristin McKenna, CFP® and originally appeared on Forbes. Silver lining!

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Marketing Marketing Accounting Portfolio 88

Your Richest Life

JUNE 12, 2023

Those accounts aren’t subject to federal or state income taxes, and the earnings can be withdrawn tax-free as long as they are used for qualifying education expenses. Act became law in December 2022, it changed the 529 rules to allow beneficiaries to roll over up to $35,000 into a Roth IRA. After the SECURE 2.0

Education 59

Education Accounting Financial Planner Planning 59

Darrow Wealth Management

JANUARY 9, 2023

was signed into law December 29th, 2022, bringing more major changes to tax law. Amount rolled over is tax-free (not included in beneficiary’s income) and penalty-free. Currently, pre-tax or Roth contributions are allowed. Before the passing of the Act, employer funding could only be pre-tax. The Secure Act 2.0

Accounting 59

Accounting Taxes Tax Planning Distribution 59