Insights
Do small business owners need their own retirement plan?
The typical response you would expect to hear from a financial planner is ‘Absolutely’. However, depending upon your circumstances, a more traditional type of retirement plan may not be optimal. For instance, if you plan to sell your ... Read more.
How can I convert investment losses into tax deductions through tax-loss harvesting?
Tax-loss harvesting is a strategy that involves converting investment losses into a tax deduction while remaining invested. The benefit is dependent upon an individual’s tax situation but is generally used to limit short-term capital gains (securities held for ... Read more.
What tax deductions and credits are available?
Tax write-offs, or more commonly described as tax deductions, will lower your taxable income. By subtracting the deductible expenses, you decrease your taxable income and thus reduce your tax liability. Generally, the two ways to claim your ... Read more.
How do I prepare for health care costs in retirement and what portion will Medicare cover?
Budgeting for health care during retirement depends largely on your age and overall health. However, it is important to plan ahead as the cost of health care will likely increase as you age. According to the U.S. Bureau ... Read more.
Investing in your health to fully enjoy your wealth later in life
My path to living healthier began almost 20 years ago when my father passed away at age 63 and my mother was diagnosed with stage IV breast cancer two days prior to his death (she passed four years later). ... Read more.
How can I maximize my tax savings when donating to charity?
There are several ways that you can reduce your taxes when contributing to qualified charitable organizations, so long as you are able to itemize your tax deductions. Establish a Donor-Advised Fund – Tax law changes may have ... Read more.