Category: Tax Planning

Backdoor Roth IRA contributions are a commonly used planning technique to help high-income earners contribute to a Roth IRA, even when their income is higher than the maximum set by the IRS. While the strategy is commonplace, the logistics are often misunderstood. This can lead to misconceptions and potential errors on tax return filings. In [...]

Sometimes the markets take us on quite a ride over the course of a year. If you find yourself nearing the end of the year facing portfolio losses, use it as an opportunity to take advantage of some effective tax planning strategies. If you are the kind of person who finds checklists helpful, we’ve compiled [...]

When the hard part of filing your tax return is over, it often feels like cause for celebration, and a relief to put behind you until this time next year! But depending on your unique circumstances, you may have seen the result of your filing and found yourself wondering “How did I get here?”. Maybe [...]

Introduction As the dust settles on the 2024 elections, one of the most pressing questions for many families is how the Republican Party’s return to unified control of the White House and Congress will shape the future of tax policy. With the Tax Cuts and Jobs Act (TCJA) set to expire at the end of [...]

As we near the end of the year, it’s time to wrap up year-end charitable giving. To ensure that your gift donations are processed by year-end, please follow the deadline guidelines below for Schwab and Fidelity brokerage accounts. Schwab Deadlines Type of gift/contribution Deadline requirement for 2024 tax deduction Mutual fund Schwab must receive letter [...]

Amazon provides generous company benefits that can help you build wealth, manage risk, and secure your future. It’s important to consider how to best integrate the additional compensation, retirement, and health benefits into your financial plan. Equity Awards Your grants of Amazon restricted stock units (RSUs) can help increase your cash flow or meet long-term [...]

Microsoft (MSFT) offers a comprehensive suite of benefits that can help employees build wealth, manage risk, and secure their financial future. It’s important to optimize these benefits by integrating them into your overall financial plan. Open Enrollment in early November provides the perfect opportunity to review and make decisions about your health, retirement, and other [...]

Before we know it, kids will all be back at school, the leaves will start changing, and then the holidays will be in full swing. In other words, the year-end is approaching quickly. Ahead of this, there are a few tax planning items to look at before 2024 closes out. Review this list for tips [...]

The Tax Cuts and Jobs Act of 2017 (TCJA) ushered in numerous changes to U.S. tax law, many of which are set to expire or “sunset” on January 1, 2026. This impending shift presents both challenges and planning opportunities for taxpayers. Here’s a detailed look at the key changes and strategic planning approaches to consider: [...]