Countdown to Expiration: 10 Tax Changes to Watch as 2025 Approaches
The Tax Cuts and Jobs Act (TCJA), enacted at the end of 2017, represents the most significant overhaul of the federal tax code in more than three decades. However, many of its provisions for individual taxpayers are scheduled to expire after 2025. As this deadline approaches, it is crucial to understand the changes that will
Rebalancing Your Portfolio
Everyone loves a winner. If an investment is successful, most people naturally want to stick with it. But is that the best approach? It may sound counterintuitive, but it may be possible to have too much of a good thing. Over time, the performance of different investments can shift a portfolio’s intent – and its
How to Dramatically Reduce Your Tax Liability: Insights from My Conversation with TaxWise Partners Founder and CEO Mark Myers
As a financial advisor focused on helping clients keep more of their hard-earned money, I’m always on the lookout for innovative strategies to reduce tax liabilities. Recently, I had the pleasure of speaking with Mark Myers, the Founder and CEO of Taxwise Partners, and a self-proclaimed “Tax Savings Architect” who specializes in finding often-overlooked opportunities
Retirement Seen Through Your Eyes
How do you picture your future? Some see retirement as a time to start a new career. Others see it as a time to travel. Still others plan to spend more time with family and friends. With that in mind, here are some things to consider. What do you absolutely need to accomplish? If you
Roth IRA For Kids
Small business owners may find it challenging to find ways to provide additional benefits to their children who work for the company. One often overlooked choice is including a Roth individual retirement account (IRA) as part of their compensation, a strategy that offers the potential to benefit both the children and the business. Small businesses
Preparing for the Tax Cuts and Jobs Act Sunset at the End of 2025
Looking to prepare for possible tax cuts and the Jobs Act Sunset. It’s not too early to begin thinking about any tax changes that may be on the horizon. The Tax Cuts and Jobs Act (TCJA) of 2017 was designed to overhaul the federal tax code by reforming individual and business taxes. As a result,
Securing Your Financial Future After the Loss of a Spouse
Securing your financial future after the loss of a spouse is a journey that requires navigating through a complex array of survivor benefits. It’s a path marked by paperwork and policies, yet it’s also a passage that can lead to financial stability and independence. As you step into the role of both beneficiary and steward
So What Exactly IS a Roth Conversion?
The Basics and Benefits When it comes to retirement planning, the term “Roth conversion” often comes up, but its intricacies can be elusive. Simply put, a Roth conversion is a financial strategy where you move your retirement savings from a Traditional IRA or another qualified plan into a Roth IRA. This action changes your funds
Adapting to the New Stretch IRA Rules: A Simplified Guide for Savvy Investors
If you’ve been paying attention to the world of retirement planning, you’re likely aware of the changes to stretch IRAs due to the SECURE Act. While these alterations may seem complex, there are still ways to maximize your tax benefits. Here’s an easy-to-understand guide to help you adapt and make the most of your retirement
Texas Educators, Here’s How to Add $500,000 to Your Retirement
Retirement planning can often seem like a complex puzzle, but there’s a strategy that could significantly enhance your retirement income. It’s known as the ‘Last 60-Month Rule’, a part of the Government Pension Offset (GPO) provision. The GPO can reduce Social Security benefits for individuals who receive a pension from a federal, state, or local
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