Your Richest Life

FEBRUARY 27, 2023

Whether you’re preparing to file , waiting on a refund , or have already paid your tax bill, you might notice some differences this year. First of all, many taxpayers are noticing smaller refunds or higher tax bills this year than in the previous two years. This credit is up to $7,500, and is set to expire in 2032 unless renewed.

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Taxes Fee Only CFP Financial Planning 105

Yardley Wealth Management

MAY 30, 2023

The post What’s a Fiduciary & Fee-Only Advisor? What’s a Fiduciary & Fee-Only Advisor? A fiduciary and fee-only advisor is an expert who acts in your best interest and only charges a fee for their services. What is a Fee-Only Advisor? What is a Fiduciary?

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Fee Only Risk Tolerance Ethics Retirement Planning 52

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.

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Taxes Wealth Management Tax Planning Planning 111

The Chicago Financial Planner

FEBRUARY 2, 2024

Fee-only advisors receive no compensation from the sale of investment or insurance products. Photo credit: Flickr Related Posts: Will my Social Security be Taxed? A part of this process might include hiring a financial advisor or hiring a new financial advisor if you have decided to move on from your current advisor.

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Financial Advisor Financial Planner Fee Only Clients 249

Abnormal Returns

SEPTEMBER 30, 2024

riabiz.com) Taxes How pre-tax retirement contributions provide flexibility down the road. kitces.com) Tax strategies if the TCJA expires in 2026. wealthmanagement.com) Advisers 7 more lessons from building an fee-only RIA from scratch.

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Financial Advice Fee Only Estate Planning Taxes 130

Nerd's Eye View

JANUARY 12, 2023

And while providing fee-only advice or highlighting service as a fiduciary may have once been a fair differentiator, these services are now often considered table stakes, necessitating financial advisors to find more creative solutions that show current and prospective clients that they provide more value than other advisors.

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Clients Communication Fee Only Financial Advisor 244

XY Planning Network

JANUARY 29, 2024

Here at XYPN Books , we have a slightly modified version of Benjamin Franklin’s timeless declaration: “In this world, nothing can be said to be certain, except taxes and questions about 1099s.”

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Fee Only Taxes Financial Advisor 101

XY Planning Network

JULY 7, 2023

Get a sneak peek at content reserved for XYPN members with XY Tax Solutions Office Hours program! Available exclusively to XYPN members, each month one of XYTS's tax experts hosts an office hours session where tax-specific topics are discussed and attendees can ask any top-of-mind questions. Enjoy the recording!

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Tax Planning Taxes Planning CFP 79

XY Planning Network

JANUARY 6, 2023

While we can wish for a magic eight-ball that gives us all the answers to the burning questions we have about the future, at the very least, we on the tax team can support you by shedding light on some of the tax-related issues to look out for as we head into the new year.

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Taxes Clients Fee Only Tax Planning 90

Nerd's Eye View

JUNE 4, 2024

We also talk about how Freeman has been able to turbocharge growth in his RIA, going from $7 million to now approaching $50 million in AUM in under 4 years, by using a local SEO strategy that emphasizes their status as one of the only fee-only fiduciary firms in their geographic area, why Freeman created 3 different websites targeted at the separate (..)

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Fee Only Financial Advisor Clients Estate Planning 130

Nerd's Eye View

JUNE 4, 2024

We also talk about how Freeman has been able to turbocharge growth in his RIA, going from $7 million to now approaching $50 million in AUM in under 4 years, by using a local SEO strategy that emphasizes their status as one of the only fee-only fiduciary firms in their geographic area, why Freeman created 3 different websites targeted at the separate (..)

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Fee Only Financial Advisor Clients Estate Planning 130

XY Planning Network

FEBRUARY 6, 2023

MIN READ Admit it: Do you have a shoebox full of “important” papers that you *think* might be needed for your taxes? Preparing” for tax preparation can be daunting. This helps your tax professional get your taxes filed correctly, prepares you in the event there are any questions on your return, and allows for efficient tax planning.

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Taxes Tax Planning Clients Accounting 98

XY Planning Network

FEBRUARY 20, 2023

Surprisingly (ahem), tax filings tend … not to be top of mind for most business owners. This is your friendly reminder that tax filings are probably buried somewhere toward the bottom of your to-do list, and now is the time to kick things into gear if you’ve been putting it off. the tax code can be absolute - except when it’s not.

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Taxes Financial Advisor Compliance Numbers 88

XY Planning Network

JANUARY 23, 2023

3 MIN READ Are taxes too taxing? No one likes taxes. Even though I do taxes for a living, I’ll be the first to admit it’s not always easy or simple. Taxes are a hassle at least and a complete nightmare at worst. While not everyone avoids taxes, there are a significant number of people who do.

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Taxes Clients Numbers Fee Only 84

Truemind Capital

JANUARY 24, 2025

Complex Structures: Many PMSs and AIFs underperform MFs (in respective categories) after costs and taxes but many still exist in the portfolios. The best way to avoid such a situation is to deal with fee-only SEBI RegisteredInvestment Advisors who cannot earn commissions by regulation.

Commission 59

Commission Wealth Management Portfolio Fee Only 59

Your Richest Life

NOVEMBER 1, 2024

Consumers are typically more affected by factors like changes in the job market, tax laws and interest rates, so those factors could be more important to pay attention to in an election year. Managing Presidential Elections as an Investor As an investor, elections can be difficult to navigate.

Financial Market 52

Financial Market Marketing Marketing Fee Only 52

Sara Grillo

OCTOBER 21, 2022

Fee-only advisor – This is an advisor that does not charge commissions and hence is believed to be more aligned with the client’s best interests. Fee-only advisors are bound to the fiduciary standard. He knew before graduating fee-only was the path for him, his conscience, and his personality.

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Insurance Financial Planner Fee Only Financial Advisor 98

Your Richest Life

OCTOBER 31, 2022

Your 401(k) is a valuable part of your retirement plan, but it’s only one piece of the puzzle. . There are many benefits that come along with a 401(k,) including pretax or Roth 401(k) salary contributions (or both,) company matching, and tax-deferred accruals. A traditional IRA allows you to contribute pre-tax or after-tax dollars.

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Retirement Accounting Taxes Retirement Planning 110

XY Planning Network

JULY 7, 2023

Get a sneak peek at content reserved for XYPN members with XY Tax Solutions Office Hours program! Available exclusively to XYPN members, each month one of XYTS's tax experts hosts an office hours session where tax-specific topics are discussed and attendees can ask any top-of-mind questions. Enjoy the recording!

Tax Planning 52

Tax Planning Taxes Planning CFP 52

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

Your Richest Life

APRIL 5, 2022

If you’ve already filed your taxes and received your refund, you might already be thinking of ways to use that refund. Here are some tips for putting that money to the best possible use in 2022: Avoid impulse tax refund spending. If you received a tax refund, then you might already be imagining different ways to spend it.

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Taxes Accounting Budgeting Fee Only 52

Your Richest Life

JANUARY 27, 2025

Another problem is that there are fees associated with buying and selling in the markets. Transaction fees, management fees, and capital gains taxes can eat into your returns. Actively managed mutual funds also have more expensive internal fees, which take away from your overall returns.

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Investing Investments Risk Tolerance Portfolio 52

Walkner Condon Financial Advisors

AUGUST 18, 2022

Stock grants also come with significant tax consequences that, depending on the situation, can leave you with large tax bills. However, you do have some control over when those tax bills are paid and, in the right circumstances, you can lower your total tax bill significantly if you elect to pay taxes upfront.

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Planning Taxes Certification Financial Advisor 98

Darrow Wealth Management

JUNE 14, 2023

For example, the tax laws and distribution terms for an inheritance is quite different to the tax and liquidity considerations during an IPO. 4 key steps for managing sudden wealth Engage a sudden wealth advisor to start building your professional team (tax, legal, etc.) Athletes need to be aware of state tax issues.

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Management Wealth Management Wealth Advisor Taxes 104

Your Richest Life

JUNE 3, 2024

Find some tax savings While your taxes are fresh on your mind, you can use this time to organize your paperwork, checking your withholdings and evaluating your tax-savings strategies. One of the simplest ways to cut down on your tax liability is to save for retirement.

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Budgeting Taxes CFP Retirement 97

Walkner Condon Financial Advisors

NOVEMBER 11, 2022

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. Assuming you are eligible, these accounts can be quite tax advantageous for your overall financial situation. TAX AND ESTATE PLANNING.

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Insurance Coverage Retirement Planning Financial Advisor Taxes 98

Your Richest Life

SEPTEMBER 2, 2022

Do I have to pay taxes on the canceled debt? You do not have to pay federal taxes on the canceled debt. Check your state’s laws so you’re not surprised at tax time. At Your Richest Life, Katie Brewer, CFP®, believes you too should have access to financial resources and fee-only financial planning.

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Planning Fee Only Taxes CFP 102

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. It b ecame law on Dec. SSI, SSDI, Medicaid).

Accounting 98

Accounting Financial Advisor Certification CFP 98

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 40

XY Planning Network

SEPTEMBER 5, 2022

Please note that I’ve excluded high-yield municipal bonds, mainly because there are so many variables that help determine the attractiveness of muni bonds to an individual investor, including their personal tax bracket, state tax regimes, and many other idiosyncratic factors.

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Taxes Portfolio Investing Investments 97

WiserAdvisor

JULY 22, 2022

Consult with a professional financial advisor and receive expert guidance on how to achieve your financial goals like building a significant retirement corpus, lowering your taxes, or creating an investment strategy suited to your needs. . Based on the kind of advisor you choose to hire, it can be an expensive proposition for you.

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Financial Advisor Portfolio Budgeting Commission 105

XY Planning Network

MARCH 11, 2024

As tax season approaches, you may find yourself scrambling for the best and safest way to exchange critical documents with your clients securely.

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Clients Taxes Fee Only Financial Advisor 102

Darrow Wealth Management

MARCH 17, 2025

Even though interest rates have risen in the last few years, over time, holding cash will yield a real negative return after inflation and taxes. Even in periods of higher interest rates, the real return on cash after taxes and inflation can be negative. For long-term investors, only stocks have reliably outpaced inflation.

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XY Planning Network

SEPTEMBER 16, 2024

Keeping up with bookkeeping is mandatory for tax & regulatory compliance, informed decision-making, and accurate financial tracking. Your business could be audited at any point in the year, and having up-to-date books is essential to passing that audit. And remember, the earlier, the better to avoid the last-minute frenzy.

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Compliance Taxes Fee Only 90

Sara Grillo

MAY 9, 2022

Wall Street has engineered this term “direct indexing” to capture the attention of fee only advisors who are obsessed with John Bogle. 2 Tax harvesting benefits are exaggerated. All the direct indexing providers advertise the benefits of tax loss harvesting. 1 Direct indexing is not really indexing.

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Portfolio Clients Financial Advisor Taxes 72

eMoney Advisor

MARCH 16, 2023

When I started Vincere Wealth as a fee-only practice, the vision was to become the go-to place for Millennials who need help with their money. Tax and insurance advice was also somewhat constrained. Then we do the financial plan and tax planning around that—it’s been a lot of fun.

Financial Planning 88

Financial Planning Planning Clients Retirement 88

Indigo Marketing Agency

JANUARY 4, 2022

Fee-Only Web Page Financial advisors know a lot of jargon. Even simple terms like “fee-only” may leave them scratching their heads. Having a web page that explains what “fee-only” means and why it’s important helps show potential clients that you know how to break things down into simple language they can understand.

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Financial Advisor Fee Only Financial Planning Clients 59