MainStreet Financial Planning

NOVEMBER 8, 2024

As December unfolds, it’s easy to overlook year-end tax planning amid the holiday hustle. However, dedicating a few moments now can lead to significant savings come tax season. To help you retain more of your hard-earned money and reduce your tax liability, consider these five strategic moves before the year concludes.

Taxes 97

Taxes Medical Education Retirement 97

The Big Picture

DECEMBER 4, 2024

Would you like to diversify but also defer paying big capital gains taxes? I’m Barry Ritholtz and on today’s edition of at the money we’re going to discuss how to manage concentrated equity positions with an eye towards diversification and managing big capital gains taxes. None of these solutions are optimal.

Taxes 130

Taxes Portfolio Accounting Management 130

Million Dollar Round Table (MDRT)

APRIL 1, 2025

Would you rather give that amount directly to the organization or withdraw $100,000, pay $40,000 in taxes and have only $60,000 of your contribution left to donate? Obviously, youd choose to avoid taxes and give the full amount, especially if that approach brought additional tax benefits with it. Note: This only applies to U.S.-based

Distribution 52

Distribution Taxes Clients Retirement 52

Carson Wealth

DECEMBER 20, 2024

Strategic charitable giving not only benefits the recipient but can also create significant tax advantages for the giver. You can deposit money into the account now, receive the tax benefit, and then make the donation in your own time. Theres no time limit on when you need to make the donation.

Financial Planning 116

Financial Planning Planning Estate Planning Taxes 116

Nerd's Eye View

JUNE 26, 2024

And so the conundrum of people with "too much" savings in their 529 plan – either because they overestimated how much they needed to save, or because they chose a different path entirely that didn't involve going to college – has been how to get funds out of the plan without sacrificing a large part of their value to taxes and penalties.

Education 189

Education Retirement Taxes Distribution 189

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. The costs of adopting a child can vary significantly depending on the method of adoption.

Taxes 246

Taxes Planning Financial Advisor Strategic Planning 246

The Chicago Financial Planner

OCTOBER 21, 2021

Saving for retirement is a major undertaking for most of us. Health savings accounts (HSA) provide another vehicle to save for retirement. An HSA can serve as an additional retirement savings vehicle on top of your IRA or 401(k) to help cover healthcare and other retirement expenses. Prescription drugs and insulin.

Retirement Planning 193

Retirement Planning Accounting Retirement Planning 193

Advisor Perspectives

NOVEMBER 13, 2023

Research on tax-efficient retirement distribution strategies aims to sequence withdrawals from taxable, tax-deferred, and tax-exempt accounts to maximize after-tax spending.

Taxes 126

Taxes Retirement Management Distribution 126

The Big Picture

FEBRUARY 27, 2023

Recall last week , we were discussing thinking about the impact of retiring Baby Boomers on the equity markets and of rising rates on housing. The demographic question touches on a big issue: $6 trillion dollars in 650,000 (401k) retirement plans held by 10s of millions of Americans.

Distribution 324

Distribution Retirement Retirement Planning Taxes 324

Getting Your Financial Ducks In A Row

APRIL 3, 2023

We’ve covered a lot of ground with regard to how various tax laws impact your retirement plans: pensions, IRAs, 403(b) and 401(k) plans. But we’ve primarily focused on the US income tax laws (the IRS) affect your plans – and there are many nuances that you need to take into account with regard to state tax laws.

Retirement Planning 143

Retirement Planning Retirement Planning Taxes 143

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.

Taxes 52

Taxes Medical Distribution Accounting 52

Yardley Wealth Management

FEBRUARY 4, 2025

The post Tax Strategies for High-Income Earners 2025 appeared first on Yardley Wealth Management, LLC. Tax Strategies for High-Income Earners in 2025. In this comprehensive guide, we’ll explore proven strategies to help you minimize tax liability while staying compliant with current regulations.

Taxes 52

Taxes Wealth Management Healthcare Retirement 52

Carson Wealth

MAY 29, 2025

Imagine yourself on your last ride home from work on the day you retire. It probably depends on whether you have a strong plan in place for income during your retirement years. Having a retirement planning checklist can help make this final commute the time of reflection and joy it should be. Theres also no steady paycheck.

Retirement Planning 52

Retirement Planning Retirement Planning Taxes 52

Getting Your Financial Ducks In A Row

FEBRUARY 10, 2025

Did you know that there is a specific order for distributions from your Roth IRA? The Internal Revenue Service has set up a group of rules to determine the order of money, by source, as it is distributed from your account. This holds for any distribution from a Roth IRA account.

Distribution 52

Distribution Accounting Taxes Retirement Planning 52

Financial Symmetry

APRIL 9, 2025

Tax planning might not top everyone’s list of leisure activities, but in the middle of tax season, theres a hidden opportunity. In this episode, we talk about five strategies you can use during tax season to create opportunities to help you reach your financial goals.

Taxes 62

Taxes Tax Planning Retirement Planning 62

Nerd's Eye View

DECEMBER 15, 2023

Also in industry news this week: Most businesses that operate in the U.S., Also in industry news this week: Most businesses that operate in the U.S., Also in industry news this week: Most businesses that operate in the U.S.,

Financial Planner 246

Financial Planner Retirement Taxes Insurance 246

Harness Wealth

NOVEMBER 12, 2024

As the year comes to a close, now is the time to review potential financial moves to help minimize your tax burden heading into 2025. Proactive year-end tax planning can lead to significant savings and set you up for financial success in the new year. Find your next tax advisor at Harness today. Starting at $2,500.

Tax Planning 52

Tax Planning Taxes Planning Estate Planning 52

Getting Your Financial Ducks In A Row

OCTOBER 17, 2022

In 1974, Congress passed the Employee Retirement Income Security Act (ERISA) that, among many other provisions, provided for the implementation of the Individual Retirement Arrangement. Non-deductible contributions were also allowed, for those individuals above the income limits, providing tax-deferred growth within the account.

Retirement 111

Retirement Distribution Taxes Retirement Planning 111

Harness Wealth

APRIL 17, 2025

Donor-advised funds (DAFs) have emerged as powerful tools that deliver this exact combination, providing immediate tax advantages while offering flexibility to recommend grants to qualified organizations over time. Table of Contents What Are Donor-Advised Funds, and How Do They Work?

Taxes 52

Taxes Tax Planning Distribution Assets 52

Nerd's Eye View

NOVEMBER 18, 2022

A potential compromise during the lame-duck Congressional session could see a boost to the child tax credit and extended tax breaks for businesses. From there, we have several articles on tax planning: How advisors can add value for their clients by managing their exposure to mutual fund capital gains distributions.

Financial Planner 246

Financial Planner Tax Planning CFP Taxes 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. Maybe you have a growing family.

Retirement Planning 142

Retirement Planning Retirement Planning Taxes 142

Nerd's Eye View

MAY 1, 2023

This month's edition kicks off with the news that robo-advisor Betterment entered into a $9M settlement with the SEC for misrepresenting its tax-loss harvesting practices in its client agreements and marketing materials compared with its actual practices (e.g.,

Taxes 245

Taxes Retirement Planning Advertising Retirement 245

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?

Retirement Planning 98

Retirement Planning Retirement Taxes Planning 98

Darrow Wealth Management

APRIL 21, 2025

While a Roth conversion may never make sense for some individuals, for others, early retirement years may be the best time to convert pre-tax accounts to tax-free Roth. Your current and projected future tax rate is often a main component of the decision, but there are other considerations and benefits as well.

Retirement 56

Retirement Retirement Planning Taxes Accounting 56

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

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. For high earners, converting an IRA to a Roth IRA while you’re still working could be the worst time of all.

Retirement 105

Retirement Distribution Taxes Accounting 105

Getting Your Financial Ducks In A Row

NOVEMBER 7, 2022

When you have the bulk of your financial assets in retirement plans, you might accidentally expose yourself to some risks that you haven’t thought about… since retirement plan assets are much more likely to be impacted by changes to legislation – as we have seen in the past. No related posts.

Retirement Planning 107

Retirement Planning Retirement Planning Accounting 107

Carson Wealth

MAY 15, 2025

Act have affected millions of Americans inheriting or leaving behind a retirement account. While required minimum distributions (RMDs) for the account owner are delayed, there is now a 10-year window for many people who inherit these accounts to take their distributions. The SECURE Act and SECURE 2.0

Retirement Planning 64

Retirement Planning Distribution Retirement Accounting 64

Harness Wealth

APRIL 16, 2025

Let us face ittech startups encounter a unique set of tax challenges that can make or break their financial future. The complex interplay between traditional tax regulations and the innovative nature of tech businesses demands smart planning from day one.

Startup 52

Startup Taxes Tax Planning Transportation 52

Nerd's Eye View

NOVEMBER 23, 2022

Among the several different types of retirement plans that are available to self-employed workers, solo 401(k) plans can offer the most flexibility and the ability to contribute the highest amount of tax-advantaged savings.

Planning 246

Planning Distribution Assets Retirement Planning 246

Yardley Wealth Management

FEBRUARY 18, 2025

Traditional Investment Strategies The Role of Income Tiers and Priority Levels Case Studies Key Considerations Conclusion Introduction Waterfall Wealth Management is a financial strategy designed for high-net-worth individuals seeking a structured, prioritized approach to wealth distribution.

Wealth Management 52

Wealth Management Management Estate Planning Distribution 52

Darrow Wealth Management

DECEMBER 23, 2022

Congress is once again poised to make sweeping changes to the retirement and tax rules in the last two weeks of the year. retirement changes. retirement changes. Raise the required minimum distribution age. IRAs: the $1,000 catch-up limit will be indexed by inflation for tax years starting in 2024.

Retirement 105

Retirement Retirement Planning Distribution Taxes 105

Darrow Wealth Management

OCTOBER 24, 2022

Mandatory withdrawals from retirement accounts begin for most taxpayers at age 72. For example, what’s the best time of year to take required minimum distributions, how to reinvest it, or if you can avoid paying tax on RMDs. How to take RMDs and avoid any taxes (legally of course). At least this year.

Distribution 81

Distribution Taxes Retirement Accounting 81

Nerd's Eye View

NOVEMBER 4, 2022

A recent study shows that while many consumers have expressed an interest in ESG investing, such funds within retirement plans have received limited allocations from investors. ” to pass by the end of the year, while passage of other proposed tax measures appears to be less likely. Pundits continue to expect “SECURE 2.0”

Financial Planner 240

Financial Planner Financial Advisor Retirement Planning Medical 240

The Chicago Financial Planner

OCTOBER 20, 2021

In today’s world of early or semi-retirement, many people wonder when they should begin taking their Social Security benefits. Full retirement age. Your full retirement age or FRA is the age at which you become eligible for a full, unreduced retirement benefit. Social Security and income taxes . Click To Tweet.

Retirement 192

Retirement Financial Planner Taxes Distribution 192

MainStreet Financial Planning

FEBRUARY 22, 2024

Managing cash flow in retirement is a crucial aspect of financial planning that can feel daunting after decades of receiving regular paychecks. Consider new expenses like healthcare before Medicare coverage begins and subtract any expenses that will no longer apply in retirement, such as commuting or work-related clothing.

Retirement 96

Retirement Management Financial Planning Taxes 96

Harness Wealth

APRIL 30, 2025

Without proper planning, taxes can unexpectedly take a large bite out of the proceeds, potentially reducing financial security and the legacy. When you understand various exit strategies and their tax implications early, you position yourself to make informed decisions that maximize after-tax value while ensuring a smooth transition.

Taxes 52

Taxes Planning Tax Planning Sales 52