Remember that old saying “nothing ever stays the same”? Well, that saying can be applied to a wide array of things, including IRS filing regulations. Last year, the IRS issued updated regulations for 2024 that are intended to minimize the number of paper filings they receive each year. These new

Receiving Social Security benefits is advantageous in retirement, but like almost every other form of income, these benefits are taxed by the government. To accurately predict your retirement income (and taxes), it’s important to understand how Social Security benefits are taxed. Here, we explain everything you need to know about

There are many strategies that can help make a great financial plan. One strategy that often flies under the radar but deserves significant attention is the Roth Conversion. This maneuver involves converting funds from a traditional IRA or 401(k) into a Roth IRA, and it can be a powerful tool

  As an investor, you make the conscious decision to take on the risks associated with investing. At the end of the day, this risk translates to some investments being “winners” and some being “losers”. Unfortunately, almost every investor will encounter these “loser” investments from time-to-time during their life. But

  Common Tax Penalties & How to Mitigate Them With Tax Day officially behind us, I’m sure many people feel like a weight has been lifted off their shoulders (at least until next April). However, some people might be left confused after filing their return. Why am I incurring a

When contributing to your IRA or 401(k) you can opt to either make these contributions as tax-deferred or as Roth. However, you might be wondering when should you choose one over the other? Or what are the differences and similarities in the 2 types of contributions? Or, even, what is

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

Download the PDF With the end of the year approaching, tax planning is probably high on your list of things to do. We wanted to share some thoughts for you to consider before December 31st. Below are some of the ideas we have: Contributions to Qualified Retirement Accounts: Reduce taxable