Tag: Tax Advantages

Personal Deduction Planning

Jan 22, 2024

Taxes, like death, are inevitable. But why pay more than you have to? The trick to minimizing your federal income tax liability is to understand the rules and make the most of your tax planning opportunities. Personal deduction planning is one aspect of tax planning. Here, your goals are to use your deductions in the most efficient manner and take all deductions to which you’re entitled.

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Tags: Tax Advantages, Tax Deductions, tax guide, taxes

Tax-Loss Harvesting

Sep 16, 2022

At one point or another, you may realize capital gains, which is a taxable event. What can you do about them? You can do what some investors do – you could recognize investments with a loss and practice “tax-loss harvesting.” (more…)

Tags: financial advisor charlotte nc, Financial Help, Investment Planning, Personal Finance, Tax Advantages, Tax Deductions, Tax Planning

That First Required Minimum Distribution from Your IRA

Jun 10, 2022

When you are in your seventies, Internal Revenue Service rules say that you must start making withdrawals from your traditional IRA(s). In I.R.S. terminology, these annual withdrawals are considered your Required Minimum Distribution (RMDs).¹ (more…)

Tags: financial advisor, Investing, retirement, Retirement Planning, Tax Advantages, Tax Planning

The Retirement We Imagine vs the Retirement We Live

Mar 4, 2022

Financially speaking, retirement might differ from your expectations. Just as few weathercasters can accurately predict a month’s worth of temperatures and storms, few retirees find their financial futures playing out as precisely as they assumed. Because of this, some common financial assumptions (and anxieties) about retirement are worth examining. (more…)

Tags: financial advisor, Investment Planning, Personal Finance, retirement, Retirement Planning, Tax Advantages

Trends in Charitable Giving

Feb 9, 2022

According to Giving USA 2020, Americans gave an estimated $410.02 billion to charity in 2019. That’s the first time that the amount has totaled more that $400 billion in the history of the report.

Americans give to charity for two main reasons: to support a cause or organization they care about or to leave a legacy through their support.

When giving to charitable organizations, some people elect to support through cash donations. Others, however, understand that supporting an organization may generate tax benefits. They may opt to follow techniques that can maximize both the gift and the potential tax benefit. Here’s a quick review of a few charitable choices: (more…)

Tags: Tax Advantages, Tax Planning

Tax Considerations for Retirees

Dec 3, 2021

The federal government offers some major tax breaks for older Americans. Some of these perks deserve more publicity than they receive. (more…)

Tags: Financial Help, retirement, Retirement Planning, Tax Advantages, Tax Planning, taxes

Cash Alternatives for Charitable Giving

Oct 27, 2021

The year is winding down, and you may be thinking of giving. In fact, you may want to explore the different ways in which you can donate to a charity or non-profit organization, apart from just making a cash gift. Consider some of the alternatives of charitable giving.  (more…)

Tags: Certified Financial Planner Charlotte NC, Current Events, financial advisor charlotte nc, Philanthropic Planning, Tax Advantages, Tax Planning, taxes, Wealth Building

Tax & Estate Strategies for Married LGBTQ+ Couples

Jun 4, 2021

The 2015 Obergefell v. Hodges Supreme Court decision streamlined tax and estate strategizing for married LGBTQ+ couples. If you are filing a joint tax return for this year or are considering updating your estate strategy, here are some important things to remember. (more…)

Tags: Tax Advantages, Tax Deductions, tax guide, Tax Planning, tax season guide, taxes

Debate Starts on Capital Gains Tax

Apr 30, 2021

Now and again, the price action on Wall Street can surprise even the most seasoned investors. Look no further than when President Biden in late April proposed an increase in the tax on capital gains to 39.6% from 20% for those Americans who earn more than $1 million. (more…)

Tags: Current Events, Investment Planning, Personal Finance, Tax Advantages, tax guide, taxes

The IRS Extends Additional Tax Deadlines

Apr 26, 2021

Previously, the Internal Revenue Service (IRS) announced that the federal income tax filing due date for individuals for the 2020 tax year had been automatically extended from April 15, 2021, to May 17, 2021.¹ (more…)

Tags: Personal Finance, Tax Advantages, tax guide, Tax Planning, tax season guide, taxes