Most people with a concentrated stock position know they should diversify. What they do not know is how to do it without handing a large chunk to the IRS. In this article, Chuck Bender walks through how a net unrealized appreciation strategy (NUA) combined with a donor-advised fund helped one client retire comfortably without an unnecessary tax hit. If you are sitting on a large position in a single stock, this is worth a read.
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,…
The Most Evil of All Income Taxations – It’s Time for Change The estate tax, alternative minimum tax, inheritance tax, and Federal Insurance Contributions Act (FICA) are just a few of the ways governmental taxation takes on an evil form…
“But in this world, nothing can be said to be certain, except death and taxes.” - Benjamin Franklin to Jean Baptiste Leroy, November 13, 1789 As the federal deficit of the United States rises ever higher, the more likely we…
Financial Consulate’s phones seem to ring off the hook in response to a change in the political atmosphere. The individuals who call depend on who is elected and their political beliefs. Twelve years ago, callers were worried that if President…
We have all heard the story of lemmings following the pack, even to the point of running over a cliff to their death. Whether or not it is true of lemmings, we use this metaphor to draw attention and care…
Most people know that Roth individual retirement accounts (IRAs) have a “5-year rule,” that is, you must have owned your Roth IRA for at least 5 years and be over the age of 59.5 years to withdraw earnings tax-free during…