Investing in a 529 plan is a valuable college savings strategy; however, certain rules related to 529 account distributions are often overlooked. These nuances may not become apparent until after a distribution has occurred, potentially resulting in unexpected tax liabilities for the account … [Read more...]
529 Plan Distributions
Donor Advised Funds
Donor Advised Funds (DAFs) have become an increasingly popular and valuable planning vehicle over recent years. They can be very beneficial in many circumstances, allowing you to optimize tax planning as you fulfill your philanthropic goals and support the causes that matter most to you. The … [Read more...]
Owning Rental Property
Many people like the idea of owning rental properties because it seems like a passive and simple way to earn extra income. Sometimes owning rental properties can be just that, but sometimes it isn’t so passive…or simple! The checklist below will help you better understand some the challenges and … [Read more...]
Backdoor Roth Contribution
Contributing to a Roth IRA can be an important component of your retirement savings plan. However, you may be unable to make a regular contribution to a Roth IRA if your income is too high. Thankfully there is a way around the Roth IRA’s income limit with a strategy known as a backdoor Roth … [Read more...]
Estimated Tax Payments
Income tax planning is critical to your financial success, but navigating our complicated federal “pay-as-you-go” income tax system can be difficult. Adding further complexity, you must understand and adapt to frequent changes in tax laws and in your personal circumstances. Each tax year, it is … [Read more...]