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. You can access the webinar recording here.

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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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Ballast Advisors

NOVEMBER 21, 2022

What are appropriate checklists for year-end tax planning? Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Certain tax benefits may be available if you can claim an individual as a dependent. Family tax planning. Financial investments.

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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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Carson Wealth

JUNE 28, 2023

Your retirement income plan may be sending up bubbles, too, whether around Social Security, retirement account distributions, taxes or somewhere else – and these holes need to be patched up right away. So, to help your retirement plan be more airtight, let’s look at a few of the common leaks.

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Cornerstone Financial Advisory

MARCH 14, 2025

Planning for Contingencies: Prepare for unforeseen circumstances, like disability or illness. End-of-Life Care: Specify medical directives consistent with Christian principles. Beneficiary Designations: Ensure the beneficiaries of life insurance and retirement accounts are responsible and prepared to manage the assets given to them.

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Carson Wealth

JANUARY 25, 2023

Mike Valenti, CPA, CFP ® , Director of Tax Planning Tom Fridrich, JD, CLU, ChFC ® , Senior Wealth Planner It’s January, so it’s officially tax season! One of the most common client questions heard by tax preparers is, “So, what do you need from me?” This can result in additional tax owed, plus penalties and interest.

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WiserAdvisor

DECEMBER 15, 2023

According to a survey, a significant majority of Americans, approximately 80%, share the common notion that the point of working hard in your adult life is so you can enjoy a nice retirement. After years of dedicated labor and hard work, the prospect of a peaceful retirement appeals to everyone.

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WiserAdvisor

FEBRUARY 29, 2024

Navigating the complex world of personal finance, especially with retirement looming on the horizon, can be daunting. Working with a financial advisor can significantly enhance your chances of retiring with more wealth. Hiring the best financial advisors for retirement can lead to better savings and investment outcomes.

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Random Roger's Retirement Planning

SEPTEMBER 22, 2022

A couple of different posts related to retirement from Humble Dollar to look at today. We talk about padding retirement budgets for unbudgetable expenses by $1000/mo or some other number relevant to your circumstance and history with unexpected one-offs. Quick sidebar, we ran a medical call the other day for an 81 year old male.

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Park Place Financial

MARCH 10, 2022

Distributing tax-smart assets into the different tax categories (taxable, tax-deferred, and tax-free) to limit liability . Increasing tax-deferred savings, such as an employer-sponsored retirement plan, to lower your taxable income . Switching income tax to capital gains .

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Truemind Capital

SEPTEMBER 23, 2024

Or maybe you’ve got big goals like buying a home, paying off debt, or saving for retirement, but you’re not sure where to start? A financial coach helps you understand your financial situation, set realistic goals, and create a plan to reach financial stability. Are you feeling lost when it comes to managing your finances?

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Integrity Financial Planning

FEBRUARY 3, 2023

Itemizing your deductions may be the right choice if you had large, uninsured medical or dental expenses, paid sizable amounts in mortgage interest or property taxes, had extensive business losses, or made significant contributions to certain charities. [5] 5] Avoid Early Retirement Account Withdrawals if You Can!

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WiserAdvisor

DECEMBER 1, 2023

Financial advisors for medical professionals can offer a tailored approach to managing unique financial landscapes. However, physicians are often consumed by the demands of a rigorous medical career, and as a result, they can easily overlook this essential step. Most physicians carry debt in the form of student loans.

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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.

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WiserAdvisor

NOVEMBER 4, 2022

Retirement planning is a must, so start with maximizing your 401k and Individual Retirement Accounts (IRAs). Plan your finances for when you have kids: If you plan to have children, your expenses will drastically increase. The medical costs alone can be high. To conclude.

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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.

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International College of Financial Planning

MAY 1, 2023

Financial planning ensures you have adequate financial resources to achieve your life goals, such as purchasing a home, beginning a family, or retiring comfortably. Starting financial planning early in one’s career is essential, as it allows more time for savings and investments to grow.

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MainStreet Financial Planning

DECEMBER 13, 2022

Maximizing your retirement contributions in your employee or self-employed retirement account should be a priority since one or two pay periods are all that are left this year. Some tax-deductible transactions can be made after December 31 st and still count on your tax return, but not many. Happy Tax Planning!

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Workable Wealth

OCTOBER 14, 2020

A financial plan looks at your assets and liabilities, short-term and long-term needs, as well as your goals to structure your finances in a way that suits you. Want to retire early? Financial planning shatters many allusions you might have about how money works. Tax Planning. Emotional Investment Choices.

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Harness Wealth

JANUARY 10, 2025

The key benefits Reduced tax liability: So long as youre paying reasonable wages to your child, you can lower overall tax liability. For instance, children can earn a gross income up to $14,000 (2024) tax-free under the standard deduction, shifting income to a lower tax bracket.

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Cordant Wealth Partners

AUGUST 16, 2024

So, if you separate from the company near the end of the year, earning a full year of salary plus severance payouts, you could be pushed into a higher tax bracket. Tax planning for a transition out of Intel is critical. This is in addition to the accelerated vesting provided by Intel retirement rules.

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WiserAdvisor

JULY 3, 2023

Below are 6 common financial planning mistakes physicians make: Even though financially well-off, physicians tend to make several financial mistakes. Not creating a comprehensive financial plan Financial planning for physicians and healthcare professionals is essential. Medical schools can be costly.

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Cordant Wealth Partners

DECEMBER 2, 2022

Severance (or layoff) packages at Intel have three main components: Income, Medical, and Stock. So, if you separate from the company near the end of the year, earning both a full year of salary plus severance payouts, you could be pushed into a higher tax bracket. Tax planning for a transition out of Intel is critical.

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Gen Y Planning

DECEMBER 5, 2022

By weaving in extra savings into your spending plan, you can have enough money to cover gifts, cook your fancy holiday dinner, and keep the lights on (literally). . Max Out Your Retirement Plans. Saving for retirement should be as commonplace as meal prepping for the week. Assess Your Debt. 19,400 for heads of households.

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WiserAdvisor

JULY 18, 2023

With its unique benefits and long-term growth potential, the Roth Individual Retirement Account (IRA) has become a popular choice among individuals seeking to build a retirement nest egg. The Roth IRA can be a reliable and tax-efficient way to save for your future. You do not pay taxes until you withdraw the money in retirement.

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Harness Wealth

OCTOBER 24, 2024

Trust Income: Reports income distributed from a trust to beneficiaries, which is typically taxable and must be reported on the recipient’s tax return. Medical Expenses: Keep records of any medical and dental expenses paid out-of-pocket, including prescriptions, treatments, and health insurance premiums.

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Brown Advisory

JUNE 2, 2016

You might think that after all that time, it gets easier to receive a call from a client with news of a grave medical condition. For various reasons, making lifetime gifts may be more efficient from an estate and gift tax standpoint than transferring assets through a last will and testament. It has not—it is a gut punch every time.

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Bell Investment Advisors

JUNE 16, 2022

Start by getting clear on gift and estate tax laws. In 2022, anyone can give any recipient up to $16,000 in assets per year without owing federal gift taxes. Exception: gifts to pay tuition or medical expenses are exempt if paid directly to the institution. million per recipient over a lifetime.

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Brown Advisory

DECEMBER 4, 2017

presidential election, we have grappled with the lack of clarity regarding the details of new tax legislation. The outcome of the tax reform debate is likely to impact how we advise clients on tax planning, estate planning and a host of other topics. Since last year’s U.S. Those conditions do not exist today.

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Cordant Wealth Partners

SEPTEMBER 9, 2022

Planning opportunities with RSUs: Use RSU income to maximize contributions to other benefits programs. Incorporate tax planning with your RSU vesting schedule to minimize taxes. This means that for those contributing the maximum of $19,500, Microsoft would contribute another $9,750 towards your retirement savings.

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WiserAdvisor

MAY 11, 2023

They can also help with tax planning, ensuring that the transfer of assets is done in a way that minimizes tax liability for both the estate and the beneficiaries. Invest in a retirement account Passing on assets as inheritance can be made easy by investing in a tax-free retirement plan.

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Cordant Wealth Partners

SEPTEMBER 27, 2021

Planning opportunities with RSUs: Use RSU income to maximize contributions to other benefits programs. Incorporate tax planning with your RSU vesting schedule to minimize taxes. This means that for those contributing the maximum of $19,500, Microsoft would contribute another $9,750 towards your retirement savings.

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WiserAdvisor

NOVEMBER 6, 2023

Alternatively, a 401(k) or an Individual Retirement Account (IRA) can be a prudent choice if your focus lies on securing your retirement. These retirement vehicles are crafted to build a substantial nest egg for your golden years. Tax planning can help you maximize your earnings effectively.

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Harness Wealth

DECEMBER 19, 2022

Whether you’re looking to get married , start a family , or planning for your estate , it makes good sense to take a closer look at your financial situation and how that might change after a big life event. An expert tax advisor can help answer questions about how to optimize your strategy.

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Sara Grillo

APRIL 11, 2022

These services often include recommendations on investments, financial planning, retirement, Social Security, Medicare, tax planning, and other wealth-related topics. RICK FERRI, CFA: I ended up retiring in 2000. An hourly financial advisor is someone who provides financial advisor for a set hourly rate.

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Harness Wealth

MARCH 25, 2025

The demanding work environment of modern healthcare professionals can leave little time to manage the often complex tax arenas that accompany it. This ensures you have sufficient funds for your quarterly estimated tax payments. Carefully classify your logs so your CPA can make sure you receive every deduction you are entitled to.

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