Insights
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.
Should I merge my small business?
As a small business owner there will likely come a point that involves taking your business to the next level and whether a merger or possibly even an acquisition may help you achieve your goals. With mergers ... Read more.
What should I do with my prior employer’s retirement savings?
Depending upon your situation, there could be up to five available options for managing a prior employer’s retirement plan: Maintain your previous employer’s plan. Rollover to new employer’s plan. Rollover to a self-managed traditional or Roth IRA. ... Read more.
How can Roth conversions help with tax efficiency?
When rolling funds over, or converting, from a qualified retirement accounts (401(k), traditional IRA, SIMPLE IRA, or SEP IRA) to a Roth IRA, you will need to pay the taxes, as those accounts were funded with pre-tax dollars. ... Read more.
What gifting strategies will reduce my taxes?
Gifting can be a tax-efficient way to transfer wealth before and after your passing, and there are many strategies available depending upon your situation and goals. Gift Tax Exclusion – The IRS provides an annual gift tax ... Read more.
How can I receive a tax break using Net Unrealized Appreciation for company stock in my 401(k)?
The assets held in your 401(k) provided tax-deferred growth opportunities, but when you begin taking distributions, you will be paying ordinary income taxes. However, if you own shares of your company’s stock inside of their 401k plan ... Read more.
