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Topic:
Tax Planning
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US House of Representatives Releases Tax Proposals
Ever since President Biden released his spending and tax proposals in April of this year, taxpayers have been waiting for Congress to act by beginning to propose legislation. On Monday, September 13, the Ways and Means Committee of the House of Representatives released its plan to pay for a $3.5 trillion spending package designed to…
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Untangling Your Finances When You Divorce: Don’t Forget These Important Details
Whose name is on the title to the house? Is the person paying child support covered by a life insurance policy? Have you changed your tax withholding now that you won’t be filing as married? These are all important but often forgotten details. Divorce is an emotional time for everyone involved, but neglecting diligent follow-up…
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Is Your Child Heading Off to College? Avoid these 529 Plan Distribution Mistakes
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Evensky & Katz / Foldes
Your kid(s) is(are) headed off to college – congrats Mom and Dad! Before they even meet their professors, you will receive the first of many tuition bills from the university. Thankfully, you’ve been a responsible adult and have accumulated ample savings for this exact expense in a 529 plan. But now, you’re done accumulating and…
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Beyond Traditional Diversification: Tax Diversification
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Evensky & Katz / Foldes
Diversification is an important strategy to reduce idiosyncratic risk in investment portfolios. Most investors are familiar with the concept of diversification and you have probably heard the phrase “Do not put all your eggs in one basket.” However, oftentimes investors overlook the tax ramifications that are embedded when investing in the markets. Investors want to…
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IRS Announces Increased Auditing for Solo 401(k) Retirement Plans
The benefits of self-employment are plenty, but there’s at least one significant drawback: the lack of an employer-sponsored retirement plan. Enter the solo 401(k). Designed for self-employed workers, a solo 401(k) mimics many of the features of an employer-sponsored plan, without the drag of the administrative burdens a traditional 401(k) is known for. A solo…
