Accounting, Retirement Planning and Tax Planning

The 5 Pillars of Retirement Planning You Should Be Aware of

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. In addition to traditional health insurance, you can also explore the Health Savings Account (HSA).

Retirement Planning

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Retirement Planning Tips for Women

Talon Wealth

OCTOBER 26, 2023

Retirement planning is a critical part of financial security that many women still overlook. However, remember that as a woman, you have a longer life expectancy than a man, which means retirement planning is even more important. Consider early retirement tax planning.

Retirement Planning

Retirement Planning Retirement Planning Medical

Using A Testamentary Charitable Remainder Unitrust (T-CRUT) To Give Twice To Both Loved Ones And Charitable Organizations

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.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

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Effective Implementation Of A Backdoor Roth Strategy: Detailed Nuances, IRS Form 8606 (And When It’s Even Worth Doing)

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

Taxes Accounting Clients Retirement Planning

The Battle of Advice: ChatGPT vs. a Financial Advisor on Retirement Planning

WiserAdvisor

JULY 27, 2023

This advanced language processing technology has also greatly impacted the financial advisory sector, prompting a critical question: Can ChatGPT replace human financial advisors in retirement planning? Personalized guidance, empathy, and a deep contextual understanding are integral to effective retirement planning.

Retirement Planning

Retirement Planning Financial Advisor Retirement Planning

Important Retirement Options for Small Business Owners

Integrity Financial Planning

AUGUST 21, 2023

One of those options might be to set up a defined contribution plan such as a 401(k). [1] 1] A 401(k) will allow you to set aside some of your assets into a tax-advantaged account that can have market exposure and the potential to grow over time. [2] 4] This is a tax-advantaged account, much like a 401(k). [5]

Retirement

Retirement Retirement Planning Taxes Accounting

Checklists for Year-End Tax Planning

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. Employee matters.

Tax Planning

Tax Planning Taxes Planning Retirement Planning

Unclaimed 401(k) Recovery: Securing Your Retirement and Family’s Future

Fortune Financial

APRIL 11, 2024

The reality for those with various employers is that untracked retirement savings might lead to missed financial growth opportunities and instability. Diligent oversight and management of these retirement accounts is essential for anyone aiming to build a solid financial foundation for a comfortable and secure retirement.

Retirement

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The Best Of Weekend Reading 2023: Top 25 Articles You Might Have Missed

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!).

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RMDs on Inherited Retirement Accounts in the Age of the SECURE Act

Carson Wealth

JULY 7, 2022

Once upon a time, people would put money in their 401(k) or IRA accounts and know that – should their retirement savings outlive them – their loved ones would inherit the rest and all would essentially be well. . How Did the SECURE Act Affect Inherited Retirement Accounts? Convert the Accounts to a Roth IRA.

Accounting

Accounting Retirement Distribution Taxes

Net Unrealized Appreciation (NUA):Maximizing Retirement Savings

Fortune Financial

FEBRUARY 4, 2024

With our deep expertise and qualifications in NUA strategies, our experts are adept at navigating the complexities of tax-efficient retirement planning. Explore the Fortune Financial advantage in transforming how you manage your retirement assets and bringing you closer to achieving your financial dreams.

Retirement

Retirement Retirement Planning Distribution Taxes

5 Big Changes to Roth Accounts in Secure Act 2.0

Darrow Wealth Management

JANUARY 9, 2023

Among the most notable changes include a significant step towards ‘Rothification’ through expanded use, new requirements, and even a way to move money from college savings accounts to a Roth IRA. Here are the top five Roth-related retirement changes following the passing of Secure Act 2.0. 529 plan to Roth IRA rollovers.

Accounting

Accounting Taxes Tax Planning Distribution

Planning Details for NUA: A Tax-Saving Strategy

Fortune Financial

JULY 28, 2022

When you are presented with the option to distribute your assets, you will have the choice to roll them into an IRA or place the stock into a taxable account and then roll the remaining assets into an IRA or 401(k). In addition, shares of employer securities for the NUA must be moved in-kind to a taxable brokerage account.

Taxes

Taxes Planning Retirement Planning Distribution

Part 1: The Tools of the Tax-Planning Trade

Yardley Wealth Management

FEBRUARY 1, 2022

The post Part 1: The Tools of the Tax-Planning Trade appeared first on Yardley Wealth Management, LLC. Part 1: The Tools of the Tax-Planning Trade Whether you’re saving, investing, spending, bequeathing, or receiving wealth, there’s scarcely a move you can make without considering how taxes might influence the outcome.

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Part 1: The Tools of the Tax-Planning Trade

Yardley Wealth Management

FEBRUARY 1, 2022

The post Part 1: The Tools of the Tax-Planning Trade appeared first on Yardley Wealth Management, LLC. Part 1: The Tools of the Tax-Planning Trade. Whether you’re saving, investing, spending, bequeathing, or receiving wealth, there’s scarcely a move you can make without considering how taxes might influence the outcome.

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You Shouldn’t Always Delay IRA Distributions

Darrow Wealth Management

JANUARY 30, 2023

just upended retirement planning…again. The age when retirees must begin drawing from non-Roth retirement accounts increases to 73 in 2023, then 75 in 2033. Raising the age when withdrawals must begin is great as it gives investors more planning opportunities. The Secure Act 2.0

Distribution

Distribution Tax Planning Retirement Taxes

Accountant vs. Financial Advisor: What Are Your Goals & Who Will Help You Get There?

Zoe Financial

FEBRUARY 21, 2023

Depending on your situation, you may need the help of a financial advisor or an accountant. Dear Zoe Experts, I’ve been looking for tax planning guidance and am deciding whether to hire a financial advisor or an accountant. Depending on your situation, you may need the help of a financial advisor or an accountant.

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A good time for a risk check-up

Nationwide Financial

JANUARY 25, 2023

Last year’s considerable losses and market fluctuations underscore the need for clients to assess their retirement plans to ensure it aligns with their objectives, financial situations, timelines, and attitudes toward market volatility. You can help them start the year right by conducting a retirement checkup.

Risk Tolerance

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What’s a Fiduciary & Fee-Only Advisor?

Yardley Wealth Management

MAY 30, 2023

Here are a few examples of how they can help with your financial planning: Create a Comprehensive Financial Plan: A fiduciary and fee-only advisor can work with you to create a comprehensive financial plan that takes into account your goals, assets, and risk tolerance.

Fee Only

Fee Only Risk Tolerance Ethics Retirement Planning

Does the 4% Rule Really Work?

Integrity Financial Planning

NOVEMBER 1, 2022

The 4% Rule is a general rule of thumb that is meant to guide your decisions on how much you can and should withdraw from your retirement savings each year. The purpose of adopting the rule is to keep a steady income stream while maintaining an adequate overall account balance for future years. The post Does the 4% Rule Really Work?

Retirement Planning

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Retirement Tax Strategies to Consider

Integrity Financial Planning

JULY 17, 2023

How you handle taxes and when you are taxed are two of the most important factors when it comes to retirement planning. There are also Roth 401(k)s that have a similar tax treatment but are subject to some different rules.

Retirement

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How to Choose the Right Wealth Management Firm in Kansas City

Fortune Financial

SEPTEMBER 25, 2023

Long-term goals typically encompass retirement planning, wealth preservation and estate planning. They are well-versed in various aspects of financial planning, including investments, retirement planning, estate planning and tax management.

Wealth Management

Wealth Management Management Risk Tolerance Retirement Planning

How to Choose the Right Wealth Management Firm in Kansas City

Fortune Financial

SEPTEMBER 25, 2023

Long-term goals typically encompass retirement planning, wealth preservation and estate planning. They are well-versed in various aspects of financial planning, including investments, retirement planning, estate planning and tax management.

Wealth Management

Wealth Management Management Risk Tolerance Retirement Planning

4 Pitfalls of Not Having a Financial Plan

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.

Financial Planning

Financial Planning Planning Retirement Insurance Coverage

Secure Act 2.0 to Bring Sweeping Changes to Retirement Rules

Darrow Wealth Management

DECEMBER 23, 2022

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. would permit employers to make matching contributions to an employee’s 401(k) and 403(b) retirement plan, even if the worker isn’t saving themselves.

Retirement

Retirement Retirement Planning Distribution Taxes

Required Minimum Distribution (RMD) Reminder

MainStreet Financial Planning

DECEMBER 8, 2022

As you may know, the Internal Revenue Service (IRS) requires that you take an annual distribution from your retirement accounts starting with the year in which you turn 72 years old and every year thereafter. Note: If this retirement account is a Qualified Retirement Plan (QRP), such as 401k, TSP, 403b, etc.,

Distribution

Distribution Retirement Taxes Retirement Planning

Introduction to NUA: A Tax-Saving Strategy

Fortune Financial

JULY 5, 2022

When you are presented with the option to distribute your assets, you will have the choice to roll them into an IRA or place the stock into a taxable account and then roll the remaining assets into an IRA or 401(k). The employer stock is distributed in-kind and is usually moved to a brokerage account. NUA Requirements. Disability.

Taxes

Taxes Distribution Retirement Planning Retirement

Is Retirement a Good Time for Roth Conversions?

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. But there are other ways to go about tax planning. This can be done through Roth conversions.

Retirement

Retirement Distribution Taxes Accounting

What to Do If You Are 50+ With Over $2 Million in Your 401(k)

WiserAdvisor

SEPTEMBER 27, 2023

The 401(k) retirement plan is one of the most powerful tools. This tax-advantaged savings vehicle allows you to accumulate wealth steadily over a lifetime of diligent saving and investing. Consult with a financial advisor to understand the benefits of having a 401(k) and managing a sum as large as over $2 million in the account.

Risk Tolerance

Risk Tolerance Retirement Taxes Retirement Planning

How do Financial Advisors Help in the Accumulation of Retirement Income?

WiserAdvisor

DECEMBER 15, 2023

For instance, they can guide you on leveraging employer-sponsored retirement plans, such as a 401(k) with employer matches, to optimize your contributions and harness the full benefits of the accounts. By helping you lower your tax The impact of proper tax planning on your eventual retirement balance cannot be overstated.

Financial Advisor

Financial Advisor Retirement Risk Tolerance Retirement Planning

3 Tax Optimization Strategies to Remember for Retirement

Integrity Financial Planning

JUNE 12, 2023

Assessing the tax structure of your state and constructing your retirement plan and financial strategy around your state’s tax system can help you stay a step ahead in retirement. Utilize a Smart Retirement Account Withdrawal Strategy Choose a withdrawal strategy that works for you. [2]

Taxes

Taxes Retirement Consulting Financial Planning

Massachusetts ‘Millionaires’ Tax Applies to Sudden Wealth Events

Darrow Wealth Management

NOVEMBER 17, 2022

The simple examples above only illustrate the state tax impact, but federal tax implications will also apply. Further, both examples ignore other sources of income, such as wages, pre-tax retirement account distributions, dividends, etc., that could increase the tax due from the surtax.

Taxes

Taxes Wealth Management Tax Planning Compensation Planning

4 Areas Your Financial Planner Should Cover as a High-Net-Worth Individual

Park Place Financial

MARCH 16, 2022

The most effective financial plan is the one that puts your needs and desires at the forefront. To help you achieve your goals, knowledgeable advisors take multiple aspects of financial planning into account. The following areas are among the most vital to discuss with high-net-worth clients: Estate Planning. 0 Comments.

Financial Planner

Financial Planner Estate Planning Certified Financial Planner Retirement Planning

Creating a Legacy of Change through Charitable Giving

James Hendries

JULY 13, 2023

How it works There are numerous instruments someone can choose from, for example: A Donor-Advised Fund (DAF) – A separately identified fund or account is maintained and operated by a “sponsoring organization.” The accounts are composed of contributions made by individual donors. A CRT may be partially tax-deductible right away.

Distribution

Distribution Taxes Assets Accounting

4 Financial Strategies to Leverage if your Portfolio is Worth Millions

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 . March 14, 2022. |.

Portfolio

Portfolio Certified Financial Planner Financial Planner Healthcare

Motel 6 or Four Seasons? Preparing, Not Panicking, for Retirement

Investing Caffeine

MAY 3, 2023

If you are close to retirement, and you have too much exposure to equities, a retrenchment in the stock market could delay your retirement plans by years. This concept highlights the importance of rebalancing your portfolio as you get closer to retirement. . · Risk Tolerance: What is your asset allocation?

Retirement

Retirement Retirement Planning Financial Advisor Planning

5 Tell Tale Signs You Might Need a Financial Advisor

Gen Y Planning

APRIL 3, 2023

Your advisor can help you create a comprehensive retirement savings plan tailored to your needs and includes a combination of tools, including 401(k)s or 403(b)s, IRAs, Roth IRAs, HSAs, brokerage accounts, and more. That being said, any solid financial plan should include a tax plan.

Financial Advisor

Financial Advisor Tax Planning Retirement Taxes

Delay These 7 Actions Until Your Retirement Is Finalized

WiserAdvisor

SEPTEMBER 8, 2023

Delaying specific actions until your retirement is finalized can help you better prepare for this significant life transition. You may consult with a financial advisor to understand how to prepare for retirement and the importance of adopting a prudent approach to retirement planning.

Retirement

Retirement Retirement Planning Financial Advisor Budgeting

Is It Worth Paying a Financial Advisor 1%?

WiserAdvisor

AUGUST 3, 2023

A reputable financial advisor should provide a comprehensive range of services, including budgeting, debt management, insurance optimization, tax planning, retirement planning, estate planning, and investment management.

Financial Advisor

Financial Advisor Retirement Planning Fee Only Retirement

SECURE Act 2.0: Later RMDs, 529-to-Roth Rollovers, And Other Tax Planning Opportunities

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

Tax Planning Taxes Planning Retirement Planning

SECURE Act 2.0: Later RMDs, 529-to-Roth-Rollovers, And Other Tax Planning Opportunities

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

Tax Planning Taxes Planning Retirement Planning

How Working with a Financial Advisor Helps You Retire with More Wealth

WiserAdvisor

FEBRUARY 29, 2024

Below are five benefits of working with a financial advisor and how they can help you retire with more wealth: 1. They help you optimize tax planning Tax planning is an important aspect of financial planning that can significantly impact your long-term wealth accumulation.

Financial Advisor

Financial Advisor Retirement Asset Allocation Risk Tolerance

What are the Different Types of Financial Advisors?

WiserAdvisor

JUNE 2, 2023

These professionals also hold expertise in various fields, such as retirement planning, tax management, estate planning, investment management, insurance, debt management, wealth management, and more. They help prepare a retirement plan based on a client’s financial needs and goals.

Financial Advisor

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Saving for Retirement and a Child’s Education at the Same Time

James Hendries

SEPTEMBER 27, 2022

Answering the following questions can help you get started: For retirement: How many years until you retire? Does your company offer an employer-sponsored retirement plan or a pension plan? Can you estimate what your balance will be when you retire? Can retirement accounts be used to save for college?

Education

Education Retirement Retirement Planning Financial Planner

The 5 Pillars of Retirement Planning You Should Be Aware of

Retirement Planning Tips for Women

Webinars

Trending Sources

Using A Testamentary Charitable Remainder Unitrust (T-CRUT) To Give Twice To Both Loved Ones And Charitable Organizations

Webinars

Effective Implementation Of A Backdoor Roth Strategy: Detailed Nuances, IRS Form 8606 (And When It’s Even Worth Doing)

The Battle of Advice: ChatGPT vs. a Financial Advisor on Retirement Planning

Important Retirement Options for Small Business Owners

Checklists for Year-End Tax Planning

Unclaimed 401(k) Recovery: Securing Your Retirement and Family’s Future

The Best Of Weekend Reading 2023: Top 25 Articles You Might Have Missed

RMDs on Inherited Retirement Accounts in the Age of the SECURE Act

Net Unrealized Appreciation (NUA):Maximizing Retirement Savings

5 Big Changes to Roth Accounts in Secure Act 2.0

Planning Details for NUA: A Tax-Saving Strategy

Part 1: The Tools of the Tax-Planning Trade

Part 1: The Tools of the Tax-Planning Trade

You Shouldn’t Always Delay IRA Distributions

Accountant vs. Financial Advisor: What Are Your Goals & Who Will Help You Get There?

A good time for a risk check-up

What’s a Fiduciary & Fee-Only Advisor?

Does the 4% Rule Really Work?

Retirement Tax Strategies to Consider

How to Choose the Right Wealth Management Firm in Kansas City

How to Choose the Right Wealth Management Firm in Kansas City

4 Pitfalls of Not Having a Financial Plan

Secure Act 2.0 to Bring Sweeping Changes to Retirement Rules

Required Minimum Distribution (RMD) Reminder

Introduction to NUA: A Tax-Saving Strategy

Is Retirement a Good Time for Roth Conversions?

What to Do If You Are 50+ With Over $2 Million in Your 401(k)

How do Financial Advisors Help in the Accumulation of Retirement Income?

3 Tax Optimization Strategies to Remember for Retirement

Massachusetts ‘Millionaires’ Tax Applies to Sudden Wealth Events

4 Areas Your Financial Planner Should Cover as a High-Net-Worth Individual

Creating a Legacy of Change through Charitable Giving

4 Financial Strategies to Leverage if your Portfolio is Worth Millions

Motel 6 or Four Seasons? Preparing, Not Panicking, for Retirement

5 Tell Tale Signs You Might Need a Financial Advisor

Delay These 7 Actions Until Your Retirement Is Finalized

Is It Worth Paying a Financial Advisor 1%?

SECURE Act 2.0: Later RMDs, 529-to-Roth Rollovers, And Other Tax Planning Opportunities

SECURE Act 2.0: Later RMDs, 529-to-Roth-Rollovers, And Other Tax Planning Opportunities

How Working with a Financial Advisor Helps You Retire with More Wealth

What are the Different Types of Financial Advisors?

Saving for Retirement and a Child’s Education at the Same Time

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