The window of opportunity for many tax-saving moves closes on December 31, so it’s important to evaluate your tax situation now, while there’s still time to affect your bottom line for the 2022 tax year. [Read more…]
The Roth 401(k)
The Roth 401(k)
Some employers offer 401(k) plan participants the opportunity to make Roth 401(k) contributions. If you have access to this option, Roth contributions could play an important role in helping enhance your retirement income. [Read more…]
Taxes for the Self-Employed
Taxes for the Self-Employed
Self-employment is the opportunity to be your own boss, to come and go as you please, and oh yes, to establish a lifelong bond with your accountant. If you’re self-employed, you’ll need to pay your own FICA taxes and take charge of your own retirement plan, among other things. Here are some planning tips. [Read more…]
Taxes and Working Remote
Taxes and Working Remote
It’s been two and a half years since the COVID-19 pandemic began, and most of the country is up and running: students have returned to classrooms, people are traveling for pleasure and business in record numbers, and spectators are back in the stands. [Read more…]
Tax Planning During Your Career
Tax Planning During Your Career
Financial planning that focuses on your goals and helps you achieve flexibility in your journey is critical at the mid-point of your career. [Read more…]
Tax Planning for Retirement
Tax Planning for Retirement
Tax planning for retirement is different from the strategies you deploy to minimize taxes while working. You’ll be using your investments for income, and the way they are taxed is different depending on the type of account you hold assets in. [Read more…]
Planning for Retirement with Equity Compensation
Planning for Retirement with Equity Compensation
Stock options and restricted stock units (RSUs) are becoming more common as part of a total compensation package. But there are differences between saving for retirement from salary and incorporating stock into a retirement plan. [Read more…]
Roths as a Retirement Strategy: Locking the Backdoor?
Roths as a Retirement Strategy: Locking the Backdoor?
Roths as a Retirement Strategy: Locking the Backdoor?
Roth conversions have become an essential part of the retirement toolkit. They allow investors with retirement savings in a Traditional plan to pay the taxes they deferred when they contributed and then have tax-free growth and more flexibility in income planning throughout retirement. Unlike investing in a Roth directly, there are currently no income limits. [Read more…]
