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 263

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

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 109

Retirement Planning Wealth Management Taxes Retirement 109

Talon Wealth

NOVEMBER 12, 2024

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. If their income is over $44,000, up to 85% could be taxed! Planning ahead helps make the transition to retirement smoother and keeps finances on track!

Taxes 52

Taxes Planning Retirement Planning Tax Planning 52

Harness Wealth

APRIL 16, 2025

Let us face ittech startups encounter a unique set of tax challenges that can make or break their financial future. The complex interplay between traditional tax regulations and the innovative nature of tech businesses demands smart planning from day one. This generous limit, with phase-out beginning at $3.05

Startup 52

Startup Taxes Tax Planning Transportation 52

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. 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.

Retirement 103

Retirement Retirement Planning Distribution Taxes 103

Darrow Wealth Management

NOVEMBER 20, 2023

If you think retirement planning moves stop at retirement, think again. Although it won’t make sense in every situation, retirement can be a unique opportunity for Roth conversions for some investors. For high earners, converting an IRA to a Roth IRA while you’re still working could be the worst time of all.

Retirement 101

Retirement Distribution Taxes Accounting 101

Tobias Financial

DECEMBER 20, 2023

As we begin our countdown to 2024, it is a great time to ensure your year-end tax plan is in place. Tax planning is a vital component of meeting your overall financial goals. Our team of professionals is here to assist with your financial and tax planning needs.

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Tax Planning Taxes Planning Distribution 52

Harness Wealth

JANUARY 29, 2025

In this article, well examine the most effective end-of-year tax strategies to help maximize your deductions and reduce your taxable income. These contributions not only provide immediate tax relief but help secure longer-term financial stability during retirement. Available to taxpayers aged 70.5

Taxes 52

Taxes Medical Distribution Tax Planning 52

Darrow Wealth Management

SEPTEMBER 26, 2024

Investing after maxing out a 401(k) is smart, especially since your retirement accounts may not be enough to fully fund the lifestyle you want. 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.

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Accounting Retirement Distribution Taxes 97

WiserAdvisor

FEBRUARY 19, 2024

Blind spots in retirement planning are those aspects that are often overlooked, either intentionally or subconsciously. From seemingly harmless low-interest debt to underestimating the emotional impact of transitioning out of the workforce, various factors can disrupt your peace of mind during your retirement years.

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Retirement Retirement Planning Healthcare Estate Planning 66

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

Darrow Wealth Management

JULY 1, 2024

Lowering the estate and gift tax limits The current exemption was raised dramatically in 2018. In 2024, a single taxpayer can claim a federal estate and lifetime gift tax exemption of $13.61 This tax benefit is scheduled to sunset at the end of 2026. Last reviewed June 2024 The post Major Tax Changes Are Coming in 2026.

Taxes 104

Taxes Tax Planning Planning Estate Planning 104

Integrity Financial Planning

NOVEMBER 14, 2023

We’re coming up on the end of the year, and while it’s a time to take a break and enjoy the holiday season, it’s also a good time to consider tax strategies that may benefit you. Gift Tax Exemptions Each year, you can give up to $17,000 to any number of people tax-free.

Taxes 96

Taxes Retirement Estate Planning Planning 96

Tobias Financial

JULY 5, 2024

However, a period of lower income in 2024 could present valuable tax planning opportunities. One potential benefit of a job layoff is a temporary drop in your federal income tax bracket, which can create opportunities for future tax savings.

Taxes 52

Taxes Tax Planning Wealth Advisor CFP 52

Harness Wealth

MARCH 11, 2024

By working with a tax professional, you can apply tax strategies to reduce your taxable income or defer paying taxes. 20 tax reduction strategies for high-income earners in 2024 Tax strategy is complex, and there are numerous ways of reducing taxable income depending on your situation.

Startup 59

Startup Taxes Medical Retirement 59

Harness Wealth

JANUARY 10, 2025

A brief guide to GVWR limits: Vehicles 6,00014,000 lbs GVWR: Deduction limit of $30,500 in 2024, with bonus depreciation options available. The key benefits Reduced tax liability: So long as youre paying reasonable wages to your child, you can lower overall tax liability. What qualifies as business vehicles for tax deductions?

Taxes 52

Taxes Assets Media Education 52

Darrow Wealth Management

JANUARY 9, 2023

Here are the top five Roth-related retirement changes following the passing of Secure Act 2.0. 529 plan to Roth IRA rollovers. The ability to do 529 plan to Roth IRA rollovers goes into effect January 2024. No required minimum distributions (RMDs) in Roth 401(k) plans. Prior to the passing of Secure Act 2.0,

Accounting 59

Accounting Taxes Tax Planning Distribution 59

Harness Wealth

OCTOBER 25, 2024

Employee Salaries and Benefits: Wages paid to employees, along with any benefits like health insurance or retirement contributions, can be deducted. Tax credits directly reduce your tax bill, so it’s beneficial to explore these options. This is a product of Harness Tax LLC.

Taxes 52

Taxes Distribution Insurance Consulting 52

Darrow Wealth Management

JULY 1, 2024

Lowering the estate and gift tax limits The current exemption was raised dramatically in 2018. In 2024, a single taxpayer can claim a federal estate and lifetime gift tax exemption of $13.61 This tax benefit is scheduled to sunset at the end of 2026. Last reviewed June 2024 The post Major Tax Changes Are Coming in 2026.

Taxes 52

Taxes Tax Planning Planning Estate Planning 52

Nerd's Eye View

DECEMBER 30, 2024

Each week in Weekend Reading For Financial Planners, we seek to bring you synopses and commentaries on 12 articles covering news for financial advisors including topics covering technical planning, practice management, advisor marketing, career development, and more.

Financial Advisor 240

Financial Advisor Insurance Tax Planning Taxes 240

Harness Wealth

JUNE 9, 2023

Crafting Your Personalized Financial Plan: A Step-by-Step Guide The Role of a Wealth Manager or Financial Planner Harness Wealth Can Help What is a Financial Plan? While it may seem like a luxury that is only available to the wealthy, anyone is capable of building an effective financial plan and putting it into action.

Financial Planning 52

Financial Planning Planning Financial Planner Wealth Management 52

Nerd's Eye View

DECEMBER 28, 2022

The Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in December 2019, brought a wide range of changes to the retirement planning landscape, from the death of the ‘stretch’ IRA to raising the age for Required Minimum Distributions (RMDs) to 72. In addition, SECURE 2.0

Tax Planning 246

Tax Planning Planning Taxes Retirement Planning 246

Nerd's Eye View

DECEMBER 28, 2022

The Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in December 2019, brought a wide range of changes to the retirement planning landscape, from the death of the ‘stretch’ IRA to raising the age for Required Minimum Distributions (RMDs) to 72. In addition, SECURE 2.0

Tax Planning 246

Tax Planning Planning Taxes Retirement Planning 246

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.

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Taxes Tax Planning Distribution Planning 100

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.

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Distribution Taxes Retirement Retirement Planning 97

WiserAdvisor

MARCH 13, 2024

Achieving financial freedom in retirement requires meticulous planning, dedicated effort, and strategic management. Without a solid plan, you risk drifting without direction. Within this framework, the concept of the five pillars of retirement planning emerges as a valuable strategy.

Retirement Planning 105

Retirement Planning Retirement Planning Estate Planning 105

Carson Wealth

AUGUST 1, 2024

As you move toward retirement, you can’t be content just to accumulate assets. You need to develop a retirement income plan that can help guide you when it comes time to turn savings into sustainable retirement income. of Social Security benefits are paid to retired workers and their dependents.

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Retirement Taxes Distribution Tax Planning 142

Nerd's Eye View

MARCH 15, 2024

While the final submitted text has not been released, some experts suggest that the DoL likely made few changes to its initial proposal, despite significant opposition from broker-dealers that could lead to the judicial system deciding the rule’s ultimate fate.

Financial Planner 246

Financial Planner CFP Taxes Tax Planning 246

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.

Distribution 190

Distribution Accounting Retirement Tax Planning 190

Darrow Wealth Management

SEPTEMBER 11, 2024

If you’ve just inherited a retirement account like an IRA or 401(k) from a parent, sibling, or relative, you may be unsure about what your options are and what to do next. Most non-spouse beneficiaries inheriting an IRA, 401(k), or retirement account from the original account owner must take the money in 10 years.

Accounting 97

Accounting Retirement Distribution Taxes 97

Carson Wealth

APRIL 25, 2024

Retirement planning: Calculate retirement needs and contribute regularly to retirement accounts. Tax Planning: Optimize tax efficiency through strategies such as retirement contributions, tax-deferred accounts, and deductions and credits. Why most of us retire earlier.”

Financial Planning 97

Financial Planning Planning Retirement Insurance Coverage 97

Nerd's Eye View

MARCH 15, 2024

While the final submitted text has not been released, some experts suggest that the DoL likely made few changes to its initial proposal, despite significant opposition from broker-dealers that could lead to the judicial system deciding the rule’s ultimate fate.

Financial Planner 130

Financial Planner CFP Taxes Tax Planning 130

Discipline Funds

DECEMBER 20, 2023

Calculate your 2023 after tax income and expected after tax 2024 income. Compare this to your 2023 expenses and expected 2024 expenses. Are you saving or contributing 10-20% of your income to a dedicated savings plan? Retirement Planning Review your retirement goals and objectives.

Financial Planning 74

Financial Planning Planning Asset Allocation Retirement Planning 74

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. contained a number of changes relevant to estate planning. However, awareness is key, both for clients and advisors.

Estate Planning 59

Estate Planning Taxes Planning Tax Planning 59

Darrow Wealth Management

OCTOBER 1, 2024

A retirement account won’t go through probate unless you didn’t name any (living) beneficiaries. Limiting access can provide estate tax planning benefits for some). But some states , like Massachusetts, have their own estate tax and a much smaller exemption amount.

Assets 98

Assets Estate Planning Distribution Fiduciary Duty 98

Darrow Wealth Management

JANUARY 29, 2024

Common types of assets that will pass via beneficiary designation include retirement accounts, life insurance, and some pensions and annuities. Limiting access can provide estate tax planning benefits for some). Other living trust benefits State estate tax planning. States have their own estate tax laws.

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Estate Planning Distribution Taxes Assets 99