Financial Planning & Strategy
What is gain harvesting?
What is gain harvesting? “Gain harvesting” refers to the practice of selling a holding for a gain in a taxable account, triggering a taxable event, and immediately buying the holding back. The strategy is not applicable to retirement accounts, tax-deferred accounts, and all types of IRAs. Say you own a holding worth $25,000 that you…
Read MoreNon-financial questions to consider before retirement
Non-financial questions to consider before retirement The decision to retire is clearly predicated on one’s financial situation. We’ve been helping people retire for a few decades now and have noticed that those who thrive the most during retirement are those who periodically contemplate non-financial issues in addition to crunching numbers. Borrowing from research and journalism,…
Read MoreThe election and your investments
The election and your investments The season many in our county dread is upon us. Even though most often no damage will occur, it’s hard to stop ourselves from wondering if this will be one of those times when our lives will be altered by outside forces. We’re not talking about hurricane season – although…
Read MoreWhen does the 60-day period for IRA rollovers start?
When does the 60-day period for IRA rollovers start? Today’s question comes from Mike in Celebration, FL. “I want to do a rollover from one IRA to another. I read I have 60 days to get it done but no one mentions when that 60-day rollover clock starts. Is it when the check is cut…
Read MoreImportant tax changes for 2024
Important tax changes for 2024 Every year, there are changes to laws that affect our taxes. In our January newsletter, we outlined the new 2024 tax brackets which are adjusted annually based upon inflation factors. If your taxable income (gross income less deductions) is exactly the same in 2024 as it was in 2023, your…
Read MoreHow can I get my tax information to my preparer securely?
How can I get my tax information to my tax preparer securely? Tax season is upon us once again, and if you use a professional to prepare your taxes, they may have reached out to request your tax information and documents. Your most personal data is on these forms and might include your name, your…
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