In this article, we explore how eligible rental property owners can benefit from the Qualified Business Income (QBI) deduction, which allows them to deduct up to 20% of their rental income. Discover the specific criteria to determine if you can take advantage of this valuable tax-saving opportunity. Read More >
By taking a proactive approach to tax planning, you can uncover opportunities to reduce your tax liability, optimize your retirement contributions, and improve your overall financial health. This 8-step guide delves into essential strategies and considerations to help you make the most of your mid-year tax planning efforts effectively. Read More >
While a 529 plan is primarily an education savings vehicle, it can be a part of a comprehensive retirement strategy for high earners when used creatively and strategically. Read More >
Filing taxes separately can be a viable option for reducing student loan payments, however, it is crucial to consider all the factors involved. Ultimately, consulting with a financial professional can help you make an informed decision that aligns with your unique situation. Read More >
With the $3.5 trillion dollar infrastructure bill facing a reconciliation vote, high income earners and the ultra wealthy are clearly in the crosshairs of tax hikes, putting the need for estate liquidity back on the forefront of transfer tax planning. Read More >
Whether you’re saving, investing, spending, bequeathing, or receiving wealth, there’s scarcely a move you can make without considering how taxes might influence the outcome. Read More >
What can I do to reduce my taxes?
This is a very common question we get as financial advisors and tax preparers in my firm.
Simply put, get organized! I know you probably hate to hear such a finger-wagging statement, but really, what if the mere fact of organizing meant an extra $1,000 in your pocket? You may be asking, “How’s that?” or thinking, “I’m not an organized person.” Fortunately, you don’t need to be on par with Martha Stewart’s level of organization to seize your opportunity!
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