Topics
Topic:
Tax Planning
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The Pros and Cons of 529 ABLE Plans
529 ABLE plans are accounts that can be used to provide for a disabled beneficiary and can be a low-cost alternative to a special needs trust. A 529 ABLE plan is similar to an education 529 plan in that earnings on the contributions are tax deferred and tax free when withdrawn to pay for qualified…
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Why Tax Planning Matters
While often overlooked, robust tax planning is one of the most valuable pieces of a complete financial plan. Here are a few key questions we are frequently asked on this subject: WHAT IS TAX PLANNING? Tax planning refers to our review of your tax return to identify potential planning opportunities – both now and in…
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Capital Gains Tax Brackets: More Complicated Than You Think
For a long time, capital gains taxes were pretty straightforward. If you purchased property for investment and held it for more than a year, the government taxed any gain at a lower rate than they would ordinary income. In recent years, however, changes to the tax code have introduced three capital gains tax brackets (0%, 15%…
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My First Big Paycheck is Finally in the Bank – Now What?
Recently I have been talking to clients’ children or grandchildren who have just graduated from college and are starting their first jobs as professionals. Some starting salaries can easily be in the low six figures depending on the profession, so a road map that covers how and where to start saving can be beneficial in…
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I Just Got Married, What’s Next?
Congratulations! For many people, getting married is a major life milestone. Did you know that there are some legal and financial changes that are required after marriage? While there is no one-size-fits-all approach, we have created a list of items for you and your spouse to discuss so you don’t have any unexpected surprises. Property…
