2023 ANNUAL LIMITS RELATING TO FINANCIAL PLANNING
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Why consider advanced tax planning and what can it do for you. My colleague, Antonio Lugo has put together a short video: WATCH VIDEO
Here is a sample of what forward tax planning can do for you! Joe Sample and Jane Sample 2022 - Forward Planning Tax Report
Tax planning doesn’t stop after a taxpayer files a tax return Just because a taxpayer filed a tax return doesn’t mean they should forget taxes until next year. What a taxpayer does now may affect the tax they owe or the refund they may receive next year. Here are some simple year-round tax planning [...]
Many people move during the summer. Taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income when filing their tax return. When selling a home, homeowners should think about: Ownership and use To claim the exclusion, the taxpayer must meet ownership and use tests. During the five-year [...]
CIO NOTE from Mark DiOrio, Brookstone Capital Management What Happened? Silicon Valley Bank was shut down by regulators on Friday, March 10. This is the second largest bank failure by size (unadjusted for inflation) in U.S. history. This is a standard regulatory practice when a bank begins to either have liquidity or solvency issues. Who [...]
What is the Financial Outlook for Women Planning for Retirement? The gender landscape across American industries is evolving. Today, women continue to make up nearly half of the workforce in the United States.1They own more than 12 million businesses2and are the sole or primary breadwinners for 42 percent of families with children under 18.3 But, [...]
Examining a long-held retirement assumption.Provided by Carla MerlakA classic retirement preparation rule states that you should retire on 80% of the income you earned in your last year of work. Is this old axiom still true, or does it need reconsidering? Some new research suggests that retirees may not need that much annual income to [...]
IRS Tax Tip 2022-141, September 14, 2022 When the IRS needs to ask a question about a taxpayer's tax return, notify them about a change to their account, or request a payment, the agency often mails a letter or notice to the taxpayer. Getting mail from the IRS is not a cause for panic but, [...]
Have questions about the recent student loan forgiveness announcement? I’ve got (some) answers. (Please forward this email to anyone you know who might need some clarity about their student loans. There's also a very important note about scams at the bottom that's worth sharing. #themoreyouknow) You've probably heard by now that the government plans to [...]