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Strategies to Help Reduce Your 2019 Tax Bill

Your holiday season might be full of social plans, shopping, and traveling, but it’s important to take time to make important financial decisions before the end of year. Even though April 15th seems far away, the decisions you make now can potentially affect your 2019 tax situation. There are strategies to help reduce your 2019 [...]

2019-12-02T22:23:12+00:00December 2nd, 2019|Tax Strategies|

4 Things to Understand About Taxes in Retirement

4 Things to Understand About Taxes in Retirement There are probably a few surprises in store for you in retirement, but your tax burden shouldn’t be one of them. Even if you don’t receive a paycheck anymore, it doesn’t mean you can’t have a plan to help minimize taxes in retirement. By understanding how different [...]

2019-10-28T17:03:38+00:00October 28th, 2019|Tax Strategies|

Will Your Tax Burden Decrease in Retirement?

Most people don’t expect their taxes to disappear in retirement, but they may assume they’ll decrease substantially. However, this may not be the case. Between collecting Social Security, interest, dividends, and Required Minimum Distributions, your retirement income could be substantial. All of these types of income can be subject to tax, and there are strategies [...]

2019-09-23T23:29:13+00:00September 23rd, 2019|Retirement, Tax Strategies|

When it Comes to Taxes, Plan for Your Future Self

Retirement is a major event that can drastically change your day-to-day life, your financial strategies, and even your tax burden. Retirees may no longer receive taxable income from an employer, but they will likely receive income from other sources which can be taxed. This is why when it comes to taxes, it’s important to help [...]

2019-08-19T15:24:52+00:00August 19th, 2019|Tax Strategies|

A Plan to Help Minimize Your Taxes in Retirement

Your steady source of income might disappear in retirement, but unfortunately your taxes probably won’t. Did you know that up to 85% of your Social Security benefit could be taxed? And, retirement account distributions are taxed differently than investment income. If you’ll have multiple income sources, you should know how each is taxed so that [...]

2019-06-24T23:36:25+00:00June 24th, 2019|Tax Strategies|

Do You Need to File a Tax Extension?

Doing your taxes might be complicated, but thankfully filing for an extension can help give you some more time to prepare. There are many decisions to be made when preparing your taxes, such as whether you should itemize or take the standard deduction, and finding out how new changes to the tax code affect you. [...]

2019-04-09T01:56:31+00:00April 9th, 2019|Lifestyle, Tax Strategies|

Saving for Retirement While Reducing Your Taxes

This tax season will be the first time Americans are filing under the new tax code, adding complexity, and possibly stress, to the already complex and stressful filing process. But, like with most things in life, a little preparation goes a long way. As you prepare for retirement, you’ll want to think about ways to [...]

2019-04-02T01:57:22+00:00April 2nd, 2019|Retirement Planning, Tax Strategies|

Your Tax Burden in Retirement

Even in retirement, taxes are a guarantee. Your Social Security benefit, capital gains, and retirement account distributions can all be taxed, leaving you with less retirement income than you planned on receiving. Your tax burden is important to consider when planning for retirement, and can be your most significant expense. Here is how common retirement [...]

2019-02-26T02:16:15+00:00February 26th, 2019|Retirement, Tax Strategies|

Wrapping Up 2018

While it’s easy to get caught up in the holiday spirit, running out to grab last minute gifts, baking dozens of gingerbread men and trimming your tree, don’t forget about your retirement plan. The end of the year is an important time for retires, and there’s a few things you should wrap up before it [...]

2018-12-17T23:59:07+00:00December 17th, 2018|Financial Planning, Retirement, Tax Strategies|

Tax Efficient Strategies for Charitable Giving

As the seasons start to change and the holidays approach, we are reminded of how fortunate we are and how much we have to be grateful for. We are also reminded that the season of giving is upon us. But, if you’re retired, you may be worried about where extra income will come from and [...]

2018-11-27T00:43:13+00:00November 27th, 2018|Financial Planning, Tax Strategies|