Tax season can be a stressful time, especially for small business owners and self-employed individuals. With so many moving parts, it’s easy to overlook valuable tax deductions that could significantly reduce your tax liability. Fortunately, the IRS offers a range of deductions specifically tailored for business owners â and those
Before we begin to address the question of when to hire a financial advisor, it is essential to first understand what a financial advisor is and what their role entails. A financial advisor is a professional who helps people manage their financial situation and reach their financial goals. This involves
As part of the SECURE 2.0 Act, owners of 529 plan accounts can now make tax- and penalty-free rollovers to a beneficiary-owned Roth IRA retirement plan account. This change provides more flexibility to families who worry about having unused or leftover funds in their 529 plans. Before the SECURE 2.0
The stock market is expected to be down another 2% today. Do these 4 things before you decide to buy or sell. I’m sure you’ve heard “Buy the dip” a million times in the past 5 years. As a wealth advisor, I know I have! Investors have become increasingly smart
Early in my career as a financial advisor, clients would often ask me:“What number do I need to retire?” They believed that hitting a certain financial milestone was the key to freedom. And for a long time, I believed it too. Iâd run the calculations, project the returns, and set
Why Converting Your Home into a Rental May Be a Bad Idea: Many homeowners, when moving out of their primary residence, consider turning it into a rental property instead of selling it. On the surface, this may seem like a great idea, especially in high-appreciation markets. However, there are several
Most people who fail donât fail because they donât try, it is usually because they donât have the right system to create success. Success is intentional and so it is no surprise to learn financial security doesnât happen by accident; it requires planning and intentionality. Whether you aim to pay
As a business owner, you’ve worked hard to build your wealth. When it’s time to plan for the future, one question many of my clients ask is: “Can I charge my estate planning fees to my business?” It’s a smart question. After all, why not have your business cover these
I love golf. But every day for the rest of my life? No chance. Thousands of people fall into the same trap when they retire: they assume that more leisure, more golf, more travel, more relaxation, is the key to a happy retirement. But after working with hundreds of retirees,
Starting in 2025, retirement savers in their early 60s will have an exciting new opportunity to boost their savings. Thanks to the Secure Act 2.0, individuals aged 60 to 63 will be eligible for increased catch-up contributionsâwhatâs now being called the âsuperâ catch-up contribution. This change aims to help older