Few financial instruments carry as much significance as Inherited Individual Retirement Accounts (IRAs). These accounts passed down from generation to generation have long been essential for legacy planning. However, the SECURE Act has made changes that have reshaped the landscape for those inheriting IRAs after 12/31/2019. These changes affect how beneficiaries access and manage these […]
In the intricate landscape of executive retirement planning, few tools wield as much potential for financial empowerment as employee stock options (ESOs). For high-earning executives navigating non-traditional equity planning and tax strategies, understanding the nuances of Non-Qualified (NQ) and Incentive Stock Options (ISO) is paramount. This blog aims to unlock the latent power within these […]
In retirement planning, one thing is clear – when preparing for the future, there’s no one-size-fits-all solution. This especially applies to high-income earners, who often have more complex financial portfolios and other unique considerations to weigh. For those fortunate enough to enjoy a high income, the stakes are higher, and the choices are more significant. At […]
On the surface, you might not think investment losses play a pivotal role in your ongoing tax planning strategy. After all, you want to increase your returns, not minimize them. But making the most of your losses and turning them into strategic opportunities can actually help you if you know what to do. Let’s review […]
Charitable giving may be an essential part of your life and legacy. However writing checks here and there might not be the best way to optimize your giving. Here are some ways to bring intention and strategy to your charitable giving today and in your estate plan for the future. Four Tax-Friendly Ongoing Charitable Giving […]
The government is making a wide range of adjustments across the board for the coming year. Changes impactMedicare premiums, Social Security COLA, tax brackets, and retirement plan contribution limits. The changes could mean higher income and tax savings for some next year. Medicare Medicare Part B Premiums have decreased. The base monthly premium for […]
When you hear about taxes, you might think of filing your tax return in April. But there are numerous tax planning moves to strategically maximize your current and future tax liability outside the typical tax filing deadline. The catch? Most of those opportunities expire on December 31 for the current tax year. To help you […]
When you have a complex tax situation, there’s likely so much on your mind heading into tax season. Here are a few tips to keep in mind before filing your 2021 tax return. 1. Prep For An AMT Tax Bill Alternative Minimum Tax (or AMT) is a parallel tax filing system designed to ensure that […]
Roth conversions are here to stay (for now), so here’s what they are, how they work, and how high-earners can consider leveraging them throughout their careers. What Is A Roth Conversion? A Roth conversion is a strategy that allows you to convert all (or a portion) of your pre-tax retirement accounts (IRA, 401k, etc.) into […]
Are you one of the almost 30 million taxpayers that can no longer itemize deductions? “Bunching” your charitable contributions may help take it back. The Tax Cuts and Jobs Act of 2017 increased the standard deduction from $12,700 in 2017 to $24,400 in 2019 for Married Filing Jointly (MFJ). The number of filers who itemize […]
