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One of the best tax deductions for a small business owner is funding a retirementplan. Beyond any tax deduction you are saving for your own retirement. You deserve a comfortable retirement. If you don’t plan for your own retirement who will? You need to start a retirementplan today.
Mason, who ran Rubicon Wealth Management, a registered investment advisor in Gladwyne, Pa., Mason, a former advisor who was barred from the industry, was sentenced to 97 months in prison and three years of supervised release for defrauding at least 13 advisory clients out of more than $17 million, according to the Department of Justice.
Financial motivators – such as solving a specific issue or seeking better investment performance – were cited less frequently, but remain important, especially when a prospect has a clearly defined financial pain point. These included trust, communication quality, and a general discomfort managing finances alone.
Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that following the change of administration (and a new incoming chair of the SEC), the Investment Adviser Association is seeking to find ways to help RIAs (particularly smaller firms) manage the compliance responsibilities they (..)
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
The money goes into the account on a pre-tax basis much like a traditional 401(k) or IRA. This is a great opportunity for those who earn too much to make pre-tax contributions to a traditional IRA. Those who have made the maximum contributions to their 401(k) have another pre-tax savings option available to them as well.
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.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that SIFMA, which represents broker-dealers, investment banks, and asset managers, released a white paper that argues that CFP Board "increasingly functions as a de facto private regulator for CFP certificants" and proposes that CFP (..)
Also in industry news this week: A recent survey indicates that younger "DIY" investors are more likely to be interested in working with a human advisor than their older counterparts, suggesting an opportunity for advisors to tap into this demographic (perhaps by setting minimum planning fees that ensure these clients can be served profitably today (..)
Many of us are covered by one or more types of defined contribution retirementplans, such as a 401(k), 403(b), 457, or any of a number of other plans. What many of these plans have in common is that they are referred to as Cash Or Deferred Arrangements (CODA), as designated by the IRS. How, you might ask?
Podcasts Christine Benz and Jeff Ptak talks with Jamie Hopkins of Carson Wealth about some common retirementplanning 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?
As a result, financial advisors should start honing the services Gen X members will likely benefit from the most, including retirementplanning, estate and taxplanning and mortgage refinancing. trillion annually over the next decade as part of the great wealth transfer, a new report finds. trillion annually.
citywire.com) The biz Joe Duran's Rise Growth Partners made another investment. thinkadvisor.com) Cutting IRS workers is going to make life more difficult for tax preparers (and payers). advisorperspectives.com) Retirementplanning models are just uncertainty piled on uncertainty. How to do better for clients.
Retirementplanning 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.
Having a retirementplanning checklist can help make this final commute the time of reflection and joy it should be. While you simply cant plan for everything, having the essentials in place can give you the confidence and clarity you need to enjoy the freedom retirement can provide.
Unlike most types of retirementplans, 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?
This guide consolidates what we’ve learned to help you refine, update, or pressure-test your current retirement and estate strategy with confidence. Getting Started: What First-Time Planners Should Know Even for seasoned investors, key decisions around taxes, estate structure, and long-term income planning can carry significant implications.
Also in industry news this week: A House committee has advanced a bill that would extend several expired business-related tax measures from the Tax Cuts and Jobs Act and would increase the value of the Child Tax Credit The SEC released its examination priorities for 2024, which include a focus on advisers' adherence to their duty of care and duty of (..)
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.
Seasoned financial advisors have likely worked with clients with a wide variety of workplace retirement accounts, which can vary in terms of their investment offerings, fees, and other characteristics. But given that the U.S. While many features of the TSP (e.g.,
Tax deductions can save you thousands annually by reducing your taxable income through legitimate business expenses. Understanding these deductions is more critical than ever as tax laws evolve, presenting new opportunities for savings. Understanding this distinction is crucial for maximizing your tax benefits effectively.
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.
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.,
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.
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.
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.
With the complexity of modern financial decisions and the abundance of online resources, you might wonder if speaking with a financial planner is truly worth the investment. Investment Management Is talking to a financial planner worth it for investment guidance?
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.
Among the several different types of retirementplans 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.
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.
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.
From there, we have several articles on investmentplanning: While I Bonds have received significant attention during the past year, TIPS could be an attractive alternative for many client situations. ” to pass by the end of the year, while passage of other proposed tax measures appears to be less likely.
Interest rates remain a significant factor in financial planning, affecting everything from mortgage rates to investment returns. The Foundation: Emergency Funds and Debt Management The cornerstone of any solid financial plan is having a robust emergency fund. This can significantly impact your retirement savings trajectory.
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!).
In today’s dynamic economy, millions have embraced a diverse portfolio of income streamsfrom traditional employment to creative side hustles, equity compensation, and investment ventures. What is an RSU? But that is where the simplicity ends for many modern workers. But that is where the simplicity ends for many modern workers.
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.
This is before we get to the issue of capital gains taxes, which create a hurdle of (minimum) 20% on those pesky profits just to get to breakeven. 3 Imagine a private placement memorandum seeking to raise money based on “ decades of honed instincts ” as an investment model. When you get it wrong, it crushes your retirementplans.
This month's edition kicks off with the news that digital estate planning platform Wealth.com has raised a whopping $30 million in Series A funding, following on the heels of Vanilla's follow-on $20M capital round just a few months ago – which on the one hand reflects the anticipated enthusiasm for solutions that can help advisors efficiently (..)
equity valuations: “Baby-boomers’ huge flow of 401K plan contributions helped to drive equities higher; now that ~70 million Boomers are retiring, when do demographics flip this from a huge positive to a net drag?” This demographic cohort is simply not a seller due to retirement – the tax expenses would be too great.
The idea of living off dividends in retirement sounds nice, but investors often don’t realize how much money they’ll need invested to generate enough income from dividends to cover lifestyle expenses. So historically, every $1 million invested would yield annual dividend income of $19,800 on average… before tax.
Review Investment Allocations Markets evolve, and so should your portfolio. Remember: investing isnt about timing the market, its about time in the market. Optimize Tax Strategies Its not what you makeits what you keep. For 2025, the IRS has increased contribution limitsdont miss out. Consolidation might be a smart move too.
Get Help with TaxPlanningTaxplanning is a critical component of financial management. Proper taxplanning can save your business money and ensure compliance with regulations. More importantly, be prepared to pay the proper taxes throughout the year.
The post Investing for Retirement: Strategies for Long-Term Success appeared first on Yardley Wealth Management, LLC. Investing for Retirement: Strategies for Long-Term Success Introduction Investing for retirement is a journey that demands careful planning, patience, and discipline.
That must mean it’s time to roll up my sleeves and get to work on year-end financial planning – with an emphasis on 2023 income tax. One consideration this year is that we’re two years from the expiration of the Tax Cuts and Jobs Act of 2017 (TJCA). AGI impacts multiple other tax considerations.
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