MainStreet Financial Planning

NOVEMBER 25, 2024

The maximum amount of earnings subject to Social Security tax (taxable maximum) will increase to $176,100 from $168,600. The individual tax brackets for ordinary income have been adjusted by inflation. On average, tax parameters that are adjusted for inflation will increase about 2.80%.

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Taxes Planning Retirement Planning Accounting 98

Nerd's Eye View

DECEMBER 27, 2024

Also in industry news this week: According to a recent survey, advisors are putting an increasing share of client assets into model portfolios, allowing for customization and time savings that advisors appear to be using to provide more comprehensive planning services RIA M&A deal volume saw an annual record in 2024 as a lower cost of capital, (..)

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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 97

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

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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

The Chicago Financial Planner

FEBRUARY 8, 2023

You’ve paid Social Security taxes over the course of your working life and you’ve earned these benefits. Many retirees and others collecting Social Security wonder about the tax treatment of their benefit. The answer to the question in the title is that your Social Security benefits may be subject to taxes.

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Nerd's Eye View

NOVEMBER 29, 2024

Which could prove to be a boon for the financial advice industry as more consumers are willing to entrust their assets to an advisor (while at the same time possibly making it tougher for some advisors to differentiate themselves primarily by how they put their clients' interests first?).

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Financial Planner Financial Advice Retirement Financial Advisor 246

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?

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Retirement Planning Retirement Planning Risk Tolerance 143

Nerd's Eye View

MAY 17, 2023

Like native-born workers, foreign workers need to think about saving for retirement, planning for their children’s college, managing healthcare costs, and all manner of other financial goals. For example, the tax benefits of certain accounts can sometimes work in the other direction if a non-U.S.-born

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Taxes Investing Investments Accounting 246

Carson Wealth

MARCH 28, 2024

Retirement planning is a journey that generally takes decades to complete and most of us start out along the do-it-yourself path. More than likely, your first step was to enroll in an employer-provided plan such as a 401(k) or setting up an individual retirement account, also known as an IRA.

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Retirement Planning Retirement Planning Taxes 141

Wealth Management

FEBRUARY 21, 2024

The intellectual case for getting rid of tax-advantaged retirement plans is strong, and the political case is catching up.

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Retirement Planning Retirement Taxes Planning 272

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

MARCH 13, 2024

Most of the time, people are subject to state taxes in the states where they live and/or earn their income. So when moving to a lower-tax state or another, their income tax burden likewise shifts to the new state along with them.

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Taxes Compensation Planning Retirement Retirement Planning 189

A Wealth of Common Sense

FEBRUARY 6, 2025

Bill Sweet joined me on the show this week to discuss questions about the tax benefits of owning rental properties, the tax implications of an inheritance, retirement planning for military service members and how tariffs work. Further Reading: The U.S. Housing Market vs. The Canadian Housing Market The post The U.S.

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Marketing Marketing Retirement Planning Taxes 118

Darrow Wealth Management

NOVEMBER 11, 2024

Because many taxpayers earn too much to make pre-tax IRA contributions as they have a 401(k) at work. Although any investor with earned income can make a non-deductible contribution to an IRA (up to $7,000 in 2024-2025 if under age 50) and still take advantage of tax-deferred growth, it still may not be advisable. Yes and no.

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Distribution Taxes Retirement Retirement Planning 95

Abnormal Returns

FEBRUARY 24, 2025

thinkadvisor.com) Cutting IRS workers is going to make life more difficult for tax preparers (and payers). advisorperspectives.com) Retirement planning models are just uncertainty piled on uncertainty. (citywire.com) How Jacob Turner turned a professional baseball career into a wealth management business. crr.bc.edu)

Wealth Management 147

Wealth Management Retirement Planning Financial Advice Clients 147

Abnormal Returns

APRIL 10, 2024

(humbledollar.com) The golden rules of retirement travel including 'Don’t overschedule.' cntraveller.com) How Social Security fits within your retirement plan. bestinterest.blog) Taxes How retirees can (legally) reduce their tax bills. humbledollar.com) Don't take tax advice from TikTok.

Estate Planning 262

Estate Planning Retirement Planning Retirement Taxes 262

Abnormal Returns

JANUARY 15, 2024

citywire.com) Taxes There simply aren't enough tax preparers to go around. obliviousinvestor.com) It's hard to say you are a holistic financial adviser without tax management. thinkadvisor.com) Retirement Baby Boomers were supposed to retire in penury. (riabiz.com) Avise is a cooperative platform for advisers.

Financial Planner 278

Financial Planner Wealth Management Retirement Planning Financial Advising 278

Darrow Wealth Management

SEPTEMBER 19, 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. What is a SEP IRA?

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Retirement Planning Retirement Taxes Planning 90

Abnormal Returns

FEBRUARY 28, 2024

(morningstar.com) Rick Ferri talks all things taxes with Kaye Thoma of Fairmark.com (bogleheads.podbean.com) Housing What's the bear case for housing prices? wsj.com) Retirement How rising interest rates affect retirement planning. morningstar.com) An over-reliance on traditional IRA can be a tax problem in retirement.

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Retirement Planning Retirement Financial Planning Taxes 289

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

Harness Wealth

MARCH 7, 2025

This weeks Tax Advisor news roundup covers key updates for financial professionals. Last but not least, we have a rundown of the IRSs ‘Dirty Dozen’ tax scams for 2025. Wealth Taxes in Europe, 2025 ( Cristina Enache , Tax Foundation) Net wealth taxes are recurrent taxes on an individuals wealth, net of debt.

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Taxes Retirement Financial Advisor Retirement Planning 52

Nerd's Eye View

JANUARY 26, 2024

The survey also suggests that a firm's tech stack can affect its ability to attract and retain clients, with 93% of advisors who said they work with state-of-the-art technology reporting that they have added new clients as a result of another firm's bad technology, and 58% of all advisors surveyed reporting they had lost new business due to bad technology. (..)

Financial Planner 246

Financial Planner Retirement Planning Financial Advisor Retirement 246

Harness Wealth

MARCH 6, 2025

Freelancers and contractors may enjoy greater flexibility and independence than full-time employees, however, this autonomy brings increased tax responsibility. Unlike W-2 employees, freelancers and independent contractors are responsible for managing their own tax obligations, which can be a complex process.

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Taxes Consulting Professional Services Tax Planning 52

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. citywire.com) Choreo is buying the wealth management business of BDO USA. investmentnews.com) M&A The RIA model continues to take share.

Wealth Management 264

Wealth Management Retirement Planning Tax Planning Financial Advisor 264

Carson Wealth

DECEMBER 20, 2024

Strategic charitable giving not only benefits the recipient but can also create significant tax advantages for the giver. While many people approach their financial planning with careful strategy, its easy to overlook the same level of intention when it comes to charitable giving. It just needs to be given to a qualified 501(c)(3).

Financial Planning 108

Financial Planning Planning Estate Planning Taxes 108

Abnormal Returns

FEBRUARY 21, 2024

Rowe Price about non-financial considerations in retirement. morningstar.com) People work in retirement for any number of reasons. wsj.com) Dan Haylett talks retirement planning with Bec Wilson, author of "How to Have an Epic Retirement." (humbledollar.com) Christine Benz and Amy Arnott talk with Roger Young of T.

Retirement 275

Retirement Retirement Planning Portfolio Management Financial Advisor 275

Abnormal Returns

APRIL 1, 2024

(youtube.com) Christine Benz and Amy Arnott talk with Peter Mallouk, President and CEO of Creative Planning, about the 'messy' business of financial advice. morningstar.com) Thomas Kopelman and Jacob Turner talk with Ankur Nagpal about tax considerations when selling a business.

Wealth Management 258

Wealth Management Math Retirement Retirement Planning 258

Nerd's Eye View

NOVEMBER 1, 2023

There are many tax planning strategies that allow financial advisors to demonstrate the ongoing value they provide to clients in exchange for the fees they charge. Advisors also can support the backdoor Roth process by communicating with clients' tax preparers about the strategy and why they are recommending it for their mutual client.

Taxes 246

Taxes Accounting Clients Retirement Planning 246

Abnormal Returns

MARCH 15, 2023

wsj.com) Retirement Retirement planning is a moving target. humbledollar.com) Retirement is, in part, about declaring career victory. kindnessfp.com) When does it make sense to get help with your taxes? (thisisthetop.substack.com) Consumers are piling into CDs.

Retirement Planning 246

Retirement Planning Retirement Financial Services Financial Advisor 246

Nerd's Eye View

OCTOBER 1, 2022

A new bill would make many parts of the Tax Cuts and Jobs Act of 2017 permanent, including its changes to tax brackets, the higher standard deduction, and the cap on state and local tax deductions. What advisory firms can do to make the most out of client testimonials and avoid negative reviews on third-party websites.

Financial Planner 245

Financial Planner Retirement Planning Advertising Taxes 245

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?

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Taxes Retirement Planning Healthcare Retirement 97

Nerd's Eye View

FEBRUARY 8, 2023

For instance, because income earned while deployed in a combat zone is tax-free, any pre-tax TSP contributions can result in a commingling of tax-free combat pay and taxable earnings (though this can be prevented by making Roth contributions during periods where income is untaxed).

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Planning Retirement Retirement Planning Government 246

Nerd's Eye View

JANUARY 31, 2024

In late 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act, introducing several significant changes to retirement planning. This shift has led financial advisors to explore new strategies for mitigating the resulting tax-planning challenges.

Financial Advisor 246

Financial Advisor Estate Planning Nonprofit Financial Planner 246

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.

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Taxes Planning Retirement Planning Tax Planning 52

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.

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Taxes Medical Distribution Tax Planning 52

Abnormal Returns

DECEMBER 14, 2022

Podcasts Christine Benz and Jeff Ptak talks with Jamie Hopkins of Carson Wealth about some common retirement planning questions. peterlazaroff.com) Dan Kemp and Ollie Smith talk with Joe Wiggins author of the new book "The Intelligent Fund Investor." (ft.com) Who really benefits from 529 plans?

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Investing Investments Retirement Planning Banking 245