Tax Planning Archives

Stop Traditional 401k Contributions

Your 401k is a shared asset. Your share this account with the IRS. The IRS will decide in the future (when you take it out) how much they will take at distribution. That’s right, your Traditional IRA('s) or 401k('s) are assets whose…

Year-End Tax Moves to Consider Now

You have some control over how much you pay each year in income tax. Before the end of the year you should be reviewing a few of your options. Selling securities that are worth less than what you paid for them in non-retirement accounts. For…

Estate Planning, Tax Planning

BIG Tax Benefits of Donor Advised Funds

Time to share my latest personal and client tax-saving and "do-gooder" planning strategy. Why this strategy has been around for years, I'm just now focusing on it for my family and my clients. It's called funding a charitable Donor Advised…

Achieving Financial Independence, Retirement, Tax Planning

Want a Second Home to Avoid Illinois Income Tax?

Taxes and the cold drive people out of IL to warmer and zero income tax states. Read what's up with IL income tax and how to keep a home in IL and another state. If you are over age 50 and especially if you're an empty nester (like me)…

Achieving Financial Independence, Tax Planning

Stretch IRA is Dead - Secure Act

Stretch IRA is Dead and other new IRA rules are part f the newly passed Secure Act.

Government & Politics, Post-Retirement Planning, Retirement, Tax Planning, Virtual Financial Planner

How to Maximize Social Security

What you should know about about Social Security.

Achieving Financial Independence, Retirement, Tax Planning

Massive Tax-Deductible $200k Retirement Plan Contribution for Self-Employed

Massive tax deductible strategy for high income self employed!

Achieving Financial Independence, Balanced Living, Investments, Tax Planning, Virtual Financial Planner

Roth IRA Rocks!

There's a way for everybody to Roth!

Achieving Financial Independence, Estate Planning, Post-Retirement Planning, Retirement, Tax Planning

Massive Tax Break for "Doing Good" - CRT

Huge Income Tax Savings and Retirement Income Strategy Awaits You! After a ten-year Bull Stock Market run you may own stocks or stock mutual funds that have huge taxable gains waiting for you if you were to sell. Q. Why would you want to sell…

Achieving Financial Independence, Balanced Living, Estate Planning, Insurance, Retirement, Tax Planning

Ideal 4 Point Retirement Plan

Do you like my 4 point plan? This plan is a framework for what I consider to be an ideal retirement plan. Part 1. In my ideal retirement plan, my wife and I would like to be able to spend and enjoy ALL (not just portfolio interest)…