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Unlocking Retirement Wealth: The Power of the Solo 401(k) and Backdoor Roth IRA

Unlocking Retirement Wealth: The Power of the Solo 401(k) and Backdoor Roth IRA

When it comes to investing for retirement, there's a plethora of choices at our disposal. The options may range from traditional IRAs, 401(k)s, and Roth IRAs, to lesser-known alternatives such as the Solo 401(k) and Backdoor Roth IRA. Here, we'll focus on these lesser-known strategies and explore how they can offer immense potential for self-employed individuals and small business owners to maximize their ...Read More

A Group Annuity 401(k) May be Wrong for Your Business

In Today’s world, a world without pensions and worries about the future of Medicare and Social Security, saving for your retirement is a critical part of financial planning, and for many people, a 401(k) plan is a large component of that plan. A 401(k) plan allows individuals to save money from their salary either pre-tax or post-tax and invest it to grow over time, with the goal of providing an income during retirement. One type of 401(k) plan that you may never heard of and many ...Read More

How March Madness Is Like Investing

March Madness is almost over, and as many of us know, the season highlight for college basketball fans is often full of upsets, underdogs and blowouts - and this year DID NOT disappoint. Like investing, filling out a bracket involves balancing risk, reward and expectations, and winning a pool ultimately requires a bit of luck along the way. Here are a few lessons from March Madness that we can apply to the world of investing. 

Lesson #1: Forget Perfection, Position Yourself ...Read More

Business Deductions

Many business owners don’t know all the rules behind “writing off” or expensing items on their business tax return. There are some expenses necessary to operate the business, but there are also some expenses that may be more personal in nature that could also be justified as a business expense. Reasonableness always comes into play when deciding the deductibility of expenses.


If you’re a business owner, I always recommend consulting with a tax professional when ...Read More

Teaching Your Kids Financial Literacy

We have had a number of clients come to us receently to discuss how to talk with their kids about money, saving, and investing. We are huge fans of talking with kids about money early and teaching them how you look at money, saving, and investing. 

For many parents, the idea of having the "money talk" with their kids is a terrifying thought. The biggest reason parents avoid the topic is they don't believe they know enough about money themselves and fear they will give their ...Read More

SECURE Act 2.0 Updates

You may remember that in late 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which brought a wide array of changes to retirement planning and savings. On December 23, 2022, Congress passed another retirement bill, known as SECURE Act 2.0, which expands upon the 2019 legislation. The changes brought about with the SECURE Act 2.0 are designed to boost retirement savings among ...Read More

5 Reasons You Need a Financial Planning Expert in Your Business Plan

Most business owners have a CPA and/or bookkeeper, but do they have a Financial Planning Expert? Meaning, is someone analyzing the financials for efficiencies or inefficiencies, performing trend analysis, or looking for savings opportunities? Traditionally, there is very little planning that goes into most services offered by your typical CPA. With taxes, most of the time you don’t know what you owe until you owe it. Similarly with bookkeepers, they are preparing financials based upon ...Read More

Paying Kids Through Your Business

If you are a business owner and have children, you might not be taking advantage of a simple strategy that can save you taxes, while also getting a jump start on your kid’s retirement savings.


Through your company, you can hire your child as an employee and pay them a reasonable wage for the work they perform for the business. This one action is beneficial in multiple ways, which include:

The wages you pay your kid is deductible by the business. Thus, you are ...Read More

The Benefits of Tax Planning


Have you ever gotten a surprise call from your tax preparer telling you that a large tax payment is due, and you only have a few days to make the payment? Well, through tax planning, you might be able to mitigate the frequency of these last-minute tax payments.

Majority of the time, the CPA who prepares your taxes is focused solely on the past and making sure all information is reported correctly for the tax year in which they are preparing the tax return for. ...Read More

5 Reasons You Should Hire an Advisor with their Accredited Investment Fiduciary® (AIF®) Designation.

The AIF® Designation signifies specialized knowledge of fiduciary responsibility and the ability to implement policies and procedures that meet a defined standard of care. The designation is the culmination of a rigorous training program, which includes a comprehensive, closed-book final examination under the supervision of a proctor, and agreement to abide by the Center’s Code of Ethics and Conduct Standards.  On an ongoing basis, completion of continuing education and adherence ...Read More

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