Carson Wealth

FEBRUARY 27, 2025

Like gardening or working out, tax planning is one of those activities where you get out what you put in. Tax planning is similar in the sense that you can put work in on the front end that youll reap benefits from later. Many of us just do tax preparation, dropping off a shoebox of documents with a CPA for the weekend.

Taxes 98

Taxes Tax Planning Distribution Planning 98

Carson Wealth

MARCH 7, 2024

By Jake Anderson, CFP ® , Wealth Planner When helping clients begin retirement planning, the same questions often arise: What should my retirement plan look like? Your lifestyle, goals, family situation, and risk tolerance will give a unique signature to your retirement plan. How much should I be saving?

Retirement Planning 143

Retirement Planning Retirement Planning Risk Tolerance 143

Darrow Wealth Management

NOVEMBER 11, 2024

Updated for 2024 – 2025. Because many taxpayers earn too much to make pre-tax IRA contributions as they have a 401(k) at work. Many people end up paying taxes twice. There are income limits for contributions to a traditional IRA that qualify for a tax deduction. In the vast majority of cases the answer is no.

Distribution 95

Distribution Taxes Retirement Retirement Planning 95

Nerd's Eye View

AUGUST 2, 2023

Which means that financial advisors can play an important role in adoption planning – helping clients strategically plan for the costs involved in the process, including accessing tax credits that can significantly defray these expenses. Read More.

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Taxes Planning Financial Advisor Strategic Planning 246

Nerd's Eye View

JANUARY 26, 2024

Also in industry news this week: A House committee has advanced a bill that would extend several expired business-related tax measures from the Tax Cuts and Jobs Act and would increase the value of the Child Tax Credit The SEC released its examination priorities for 2024, which include a focus on advisers' adherence to their duty of care and duty of (..)

Financial Planner 246

Financial Planner Retirement Planning Financial Advisor Retirement 246

Abnormal Returns

NOVEMBER 6, 2023

(citywire.com) Creative Planning is expanding its reach in the retirement plan space. papers.ssrn.com) Taxes A 2023 year-end tax planning guide. thinkadvisor.com) The 10 best financial advisor conferences to attend in 2024. citywire.com) Choreo is buying the wealth management business of BDO USA.

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Wealth Management Retirement Planning Tax Planning Financial Advisor 264

Darrow Wealth Management

SEPTEMBER 19, 2024

Updated for 2024. Unlike most types of retirement plans, the SEP IRA is funded by the employer. Here’s more on what a SEP IRA is, tax benefits, contribution limits, and important deadlines. The SEP IRA is a straightforward and cost-effective way for small business owners to save for retirement.

Retirement Planning 90

Retirement Planning Retirement Taxes Planning 90

Nerd's Eye View

OCTOBER 7, 2024

Welcome to the October 2024 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!

Clients 246

Clients B2B Estate Planning Planning 246

MainStreet Financial Planning

MARCH 14, 2024

As April 15th approaches, taxpayers across the country are gearing up to fulfill their annual obligation – filing taxes. Whether you’ve already submitted your returns or are yet to tackle the paperwork, now is the perfect time for a tax check-up. Other Resources Should I do my own taxes?

Taxes 97

Taxes Retirement Planning Healthcare Retirement 97

WiserAdvisor

MARCH 13, 2024

Within this framework, the concept of the five pillars of retirement planning emerges as a valuable strategy. These pillars provide a comprehensive framework for building a resilient and sustainable plan. Another important aspect of investment planning is its role in combating inflation.

Retirement Planning 105

Retirement Planning Retirement Planning Estate Planning 105

MainStreet Financial Planning

JANUARY 3, 2024

The IRS and Social Security Administration recently announced changes for 2024. The maximum amount of earnings subject to Social Security tax (taxable maximum) will increase to $168,600 from $160,200. In 2024, eligible employees may contribute up to $3,200 to a FSA (Flexible Spending Account). per mile, up 1.5 cents from 2023.

Taxes 98

Taxes Retirement Planning Accounting Planning 98

Talon Wealth

NOVEMBER 12, 2024

Even though retirees have contributed throughout their careers, a portion of those benefits could still be taxed, depending on your total income. Here’s how it breaks down for 2023-2024: If a couple’s total retirement income is between $32,000 and $44,000, up to 50% of Social Security benefits could be taxable.

Taxes 52

Taxes Planning Retirement Planning Tax Planning 52

Darrow Wealth Management

NOVEMBER 2, 2023

The IRS has released the 2024 contribution limits for retirement plans and other cost-of-living adjustments.

Retirement Planning 105

Retirement Planning Wealth Management Taxes Retirement 105

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

Harness Wealth

JANUARY 29, 2025

April 15 marks the IRS tax return filing deadline for 2025. Although this is the traditional tax filing deadline, given the spate of recent natural disasters (such as the California wildfires and Hurricane Milton), the IRS is granting certain filing and payment extensions beyond this date.

Taxes 52

Taxes Medical Distribution Tax Planning 52

Nerd's Eye View

DECEMBER 25, 2023

And as 2023 draws to a close, we wanted to highlight 25 of the most popular and insightful articles that were featured throughout the year (that you might have missed!). Read More.

Financial Advisor 246

Financial Advisor Insurance Financial Planner Clients 246

MainStreet Financial Planning

APRIL 4, 2024

To be eligible for financial aid (grants & student loans) for college your child will need to submit your tax return as part of their FAFSA application when applying to colleges in their senior year. So…if your child is a sophomore in high school right now…2024 is the tax year that will be used for financial aid eligibility.

Taxes 95

Taxes Retirement Planning Financial Planning Planning 95

Carson Wealth

DECEMBER 8, 2023

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). AGI impacts multiple other tax considerations.

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Planning Retirement Planning Taxes Retirement 142

Nerd's Eye View

OCTOBER 2, 2024

To start, while the state of Social Security's trust fund reserves often receives significant media attention, in reality, the bulk of funding for paying out Social Security benefits comes from Federal Insurance Contributions Act (FICA) taxes, more commonly known as payroll taxes (with workers and their employers each paying 6.2%

Retirement 246

Retirement Clients Financial Planning Financial Advisor 246

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. Here’s a summary of the major tax law changes coming in 2026 and some steps individuals and business owners can take to prepare. For some, this may lead to more taxes paid on capital gains.

Taxes 101

Taxes Tax Planning Planning Estate Planning 101

Harness Wealth

JANUARY 9, 2025

Backdoor strategies are retirement contribution methods that allow individuals to bypass income limits and contribute to tax-advantaged retirement accounts. The strategies typically involve making after-tax contributions to a traditional IRA or 401(k), then converting those funds into a Roth IRA or Roth 401(k).

Taxes 52

Taxes Planning Retirement Retirement Planning 52

Your Richest Life

APRIL 15, 2024

Do you have a plan in place for your retirement? For many people, the extent of their retirement planning includes signing up for the plan at work – which is often more of a starting point than a comprehensive retirement plan. Some 457 plans can allow for Roth contributions and in-plan rollovers.

Retirement Planning 52

Retirement Planning Retirement Planning Taxes 52

Dear Mr. Market

DECEMBER 31, 2024

Optimize Tax Strategies Its not what you makeits what you keep. Meet with your tax advisor to discuss harvesting tax losses, Roth conversions, and charitable contributions that might save you money. Ready to Tackle 2024? Whether youre fine-tuning your budget or planning your retirement roadmap, dont go it alone.

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Budgeting Financial Planning Estate Planning Planning 97

Carson Wealth

AUGUST 1, 2024

As such, one of the most important retirement income resources is Social Security, which provides retirees inflation-adjusted income for life. Making the right decisions around claiming Social Security — based on your spending needs, longevity and tax planning — could mean the difference between meeting your retirement goals or not.

Retirement 142

Retirement Taxes Distribution Tax Planning 142

Your Richest Life

JANUARY 20, 2023

Student Loan and Roth Account Matching Employers will be able to match employees’ student loan payments to a workplace retirement account beginning in 2024. Before this change, matches on employer plans were pre-tax. Now, you can make these contributions after taxes, which means the earnings can grow tax-free.

Retirement Planning 105

Retirement Planning Retirement Accounting Planning 105

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. retirement changes. In the new bill, the age when retirees must begin drawing from non-Roth tax-deferred retirement accounts would increase to 73 in 2023 and 75 in 2033. The Secure Act 2.0

Retirement 99

Retirement Retirement Planning Distribution Taxes 99

Darrow Wealth Management

MARCH 3, 2025

Stocks vs bonds historical returns by calendar year (1997 – 2024) Top takeaways: Between 1997 and 2024, the S&P 500 returned 9.7% Taxes, fees, expenses, trading costs, etc. Returns shown are based on calendar year returns from 1950 to 2024. Between 2015 and Q3 2024, the correlation between stocks and bonds was.32

Risk Tolerance 60

Risk Tolerance Asset Allocation Assets Portfolio 60

Carson Wealth

JUNE 2, 2023

by Jake Anderson, Paraplanner Retirement accounts like 401(k)s and IRAs allow individuals to save for their future in a tax advantaged manner. IRA and 401(k) contributions are often tax deductible and gains are tax deferred – meaning you may only pay taxes when you withdraw money from your account.

Distribution 98

Distribution Accounting Retirement Retirement Planning 98

Darrow Wealth Management

FEBRUARY 9, 2025

So historically, every $1 million invested would yield annual dividend income of $19,800 on average… before tax. If you own 10,000 shares, you receive $40,000 in dividend income (before taxes) and have a portfolio currently worth $2M. If qualified, the IRS uses more favorable long-term capital gains tax rates.

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Retirement Asset Allocation Taxes Portfolio 67

Fortune Financial

FEBRUARY 28, 2023

When we look at projected healthcare costs for an average retired couple in 2022, the amount needed to cover healthcare expenses approaches approximately $315,000 after tax. In other words, it could cost over a quarter of a million dollars of our retirement funds to cover out-of-pocket healthcare expenses.

Retirement Planning 52

Retirement Planning Retirement Planning Healthcare 52

Carson Wealth

DECEMBER 27, 2022

As 55% of Americans say they don’t have enough saved for retirement, this bipartisan legislation primarily seeks to make it easier to contribute to retirement plans and use those funds appropriately for their needs in retirement. Act reduces the penalty for missing an RMD from a 50% penalty tax to 25%.

Retirement 98

Retirement Retirement Planning Distribution Accounting 98

Darrow Wealth Management

APRIL 15, 2024

It goes by many different names: semi-retirement, partial or phased retirement, second career, and so on. But typically, it means the same thing: working in some capacity after retiring early. A partial retirement helps with the emotional transition There are two phases of retirement planning: time and money.

Retirement 102

Retirement Retirement Planning Insurance Medical 102

Harness Wealth

MARCH 11, 2024

As a company founder, early startup employee, or small business owner, you may find yourself in a higher tax bracket as your business grows or you realize gains from equity compensation. But that doesn’t mean you simply have to accept a higher tax bill. Here are 20 tax-efficient actions to consider when filing your taxes in 2024.

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Startup Taxes Medical Retirement 59

Darrow Wealth Management

SEPTEMBER 26, 2024

If you have time to dig into the details, here’s a primer on what you can do after maxing out a 401(k) including the tax advantages of each account type. If you have time to dig into the details, here’s a primer on what you can do after maxing out a 401(k) including the tax advantages of each account type.

Accounting 94

Accounting Retirement Distribution Taxes 94

Carson Wealth

JANUARY 5, 2023

Qualified retirement plans – such as 401(k)s, 403(b)s and IRAs – offer clear tax advantages. Traditional 401(k)s, 403(b)s, and IRAs offer a tax deferral on contributions and growth until distribution. To prevent individuals from taking advantage of the tax-deferred growth in perpetuity, there are certain rules in place.

Distribution 98

Distribution Retirement Planning Taxes 98

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. In some cases, those payments are tax-free. Check into your employer’s short- and long-term disability plans, as they are usually the most affordable options.

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Planning Retirement Planning Insurance Taxes 86

Indigo Marketing Agency

JULY 23, 2024

Solution Offering It offers a solution: “Achieving your goals requires seasoned, thoughtful investment advice and comprehensive tax and financial planning.” The imagery also suggests the luxury of boat ownership, a common retirement dream, painting an appealing picture without making specific claims about future returns.

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Financial Advisor Certified Financial Planner Retirement Clients 98