Saving for your child’s education is a critical goal that requires careful and strategic planning. In this article, we will discuss ways to save for your child’s education that will help set them up for success.
Every morning when I awaken, I wonder whether the politicians changed all the rules again. It happens so often that it is difficult to keep track of what was discussed versus what became law. I try not listen to proposed…
Repetition is the key to memorization, so let’s repeat that headline: “Gifts to Children are not income taxable.” The annual gift limit (which in 2022 is $16,000) has nothing to do with income taxation. To repeat, the annual gift limit has…
The greatest country on the planet has a serious problem when our tax regulatory agency has become completely dysfunctional. It has become virtually impossible without extraordinary efforts to resolve even the simplest of issues with the IRS. Many reading this…
The question “du jour” is: what do you think is the best inflation hedge? The answer may seem unlikely to some, but it can be a worthwhile option. Before we answer the question regarding the best inflation hedge, I want…
Taxes can have a significant impact on one’s retirement years and it is important to question how to minimize those taxes so that there is more to spend when one retires. Before we dive into various ways to minimize taxes,…
One of the greatest actions you can take to educate yourself about markets and economies is to avoid listening to general media. Let’s define general media as the sound bite type of media, like CNN, Fox, or CBS. When a…
As with many areas of financial planning, there is not a blanket statement I can use to tell you where to retire. What I can do is provide you with the resources, tools, and considerations to make the best decision…
While some Social Security strategies have been discontinued, there are still a few under-utilized strategies that could be of great benefit. Divorced Spouse: If you were married for 10 or more years, you are eligible to collect benefits against your…
To All Clients: Two Important IRS Issues You Need to Know About Form 5498 At this time of year, I get lots of clients sending me an official-looking tax form called Form 5498. On it, you will see IRA contributions,…