Your Richest Life

MARCH 26, 2024

Taking some intentional time to organize your financial life can have major benefits all year long. Check your credit report Spring is also tax season, which is when we tend to see a spike in identity theft. Create a better organizational system Nothing tests your financial organizational system quite like filing your taxes.

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Your Richest Life

APRIL 15, 2024

There are traditional and Roth 401(k)s, both differentiated by their tax benefits. Traditional 401(k) – Employee contributions reduce taxable income, but withdrawals in retirement are taxed. Like a 401(k), a 403(b) plan lets employees put some of their salary into an account, and it’s generally not taxed until it’s distributed.

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Walkner Condon Financial Advisors

FEBRUARY 21, 2023

You also may be able to make after-tax contributions into your 401k as well to get up to the limit. While they are not tax deductible, the gains in the account will be tax deferred. ABOUT THE AUTHOR Alicia Vande Ven FINANCIAL ADVISOR, CANDIDATE FOR CFP® CERT. Alicia Vande Ven , M.S.,

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Your Richest Life

SEPTEMBER 2, 2022

This Biden Administration’s Student Loan Debt Relief Plan also applies to parent loans and graduate school loans. 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.

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International College of Financial Planning

AUGUST 2, 2021

The simplest definition of the role of a financial advisor would of that of a person who helps individuals, families, and organizations make decisions related to their investments, taxes, insurance planning, retirement planning, estate planning, and money management. Accounting & Tax Planning Firms.

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Your Richest Life

SEPTEMBER 12, 2022

Bonus: Gifts to charity are tax deductible.) . Regardless of how things play out through the end of the year, it’s smart to go into the holidays with a plan in place to avoid overspending. . Here are some additional resources for helping you manage your budget and prepare for downtimes: Managing Investments During a Financial Crisis.

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Inside Information

JULY 31, 2022

If you’re as old as Methuselah, like I am, you might remember a pivotal moment in the evolution of the planning profession, when Forbes magazine noticed that brokers, life insurance and tax shelter salespeople were starting to call themselves ‘financial planners.’ Pandemonium!

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Your Richest Life

APRIL 19, 2022

Money books for financial literacy. You’re not limited to dry explanations about portfolio allocations and tax strategies. Mary Beth Storjohann, CFP®, is a speaker and writer who cuts through the fluff and gives clear, concise financial advice. . Financial Bloggers. Joe Saul-Sehy and his guests ( including me!

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Clever Girl Finance

JULY 16, 2023

Here’s an example of a financial plan to ensure you are on track. You’re looking for tax help Tax help should not be confused with financial advisory help. A Certified Public Accountant (CPA) is best equipped to support all your tax needs. Working with one can be a good idea in some cases.

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Clever Girl Finance

JULY 16, 2023

Here’s an example of a financial plan to ensure you are on track. You’re looking for tax help Tax help should not be confused with financial advisory help. A Certified Public Accountant (CPA) is best equipped to support all your tax needs. Working with one can be a good idea in some cases.

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Carson Wealth

AUGUST 28, 2022

CFP® , Director of Consumer Investment Research  . Financial advisors provide financial planning or investment guidance to clients. Financial advisors may work for themselves, with small firms or large organizations. They generally provide advice to help their clients pursue their financial goals. .

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Your Richest Life

JANUARY 31, 2022

EE bonds can be exempt from federal income taxes if they’re used for qualified education expenses. In both cases, your savings bonds are exempt from state and local income taxes, but not federal income taxes. About Your Richest Life. For more information on the services offered, contact Katie today.

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Your Richest Life

JULY 29, 2022

Players decide whether to go to college, pay taxes, choose a career and plan for retirement. Financial Literacy for Teens (ages 14+). You can read about more of my favorite resources and advice in my “How to Improve Your Financial Literacy” post. About Your Richest Life.

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Your Richest Life

JUNE 15, 2022

Tax-loss harvesting. You may want to think about converting retirement account money from pre-tax to Roth since the market is low. You will have to pay tax on the amount that you convert, but you get more bang for your buck since markets are lower. . Back door Roths. Save Smarter. You can learn more about savings bonds here.

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Sara Grillo

AUGUST 14, 2023

If you are a fiduciary financial advisor, be prepared to defend the fiduciary standard and explain why you uphold it, what it means, and how your practice is operationally different as a result. The Institute exists to preserve, protect and defend fiduciary principles in investment advice, wealth management and financial planning.

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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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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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Sara Grillo

MAY 23, 2022

This interview with Cody Garrett, CFP, of Measure Twice Financial was mind-blowing. It’s so clear to me what the future of financial advice is – what it should be – and what it will be. I am an irreverent and fun marketing consultant for financial advisors. What is an advice-only financial planner?

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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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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. The limit for 2023 is $6,500. About Your Richest Life.

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Walkner Condon Financial Advisors

FEBRUARY 28, 2023

Going beyond your emergency fund, you might have some cash set aside for other short term expenses like property taxes or an upcoming home remodeling project or maybe a wedding. These are a great option for funds you know you need on a specific date (like property taxes at the end of the year or a home remodel project next year).

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Your Richest Life

OCTOBER 15, 2022

Health insurance is often the focus of open enrollment, but don’t forget about the other important benefits offered, like: Health Savings Account (HSA) – HSAs are savings accounts funded with pre-tax contributions. They also have tax-free earnings and tax-free withdrawals for qualified medical expenses.

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Sara Grillo

NOVEMBER 14, 2022

Financial advisors have many options at their hands to solve it, from financial planning and investment management services to fixed products such as annuities. With annuities now being able to be offered in 401k plans, the playing field has changed. They told him to read the FAQs (lol)! About Gary Mettler.

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Sara Grillo

SEPTEMBER 26, 2022

In Part Two of our two part series on the CFP Board, the heated debate continues. We’ll discuss these questions: The CFP Board has specifically stated that it wants the CFP® mark to be a requirement for anyone who practices financial planning. What do you believe the CFP Board’s role should be in the future?

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Sara Grillo

APRIL 11, 2022

An hourly financial advisor is someone who provides financial advisor for a set hourly rate. These services often include recommendations on investments, financial planning, retirement, Social Security, Medicare, tax planning, and other wealth-related topics. Hourly financial advisors are not common.

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Good Financial Cents

APRIL 10, 2023

Fortunes Lost Dennis Rodman Excessive spending, back child support, and legal problems $27+ million Evander Holyfield Excessive spending and tax problems $200+ million Johnny Unitas Excessive spending $3.5+ I could have bought 1,400 shares of $VOO , but decided my backyard paradise was a better investment. Ads by Money.

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