3 Strategies to Minimize Taxes on Required Minimum Distributions (RMDs)
Looking for ways to minimize taxes on RMDs? For wealthy retirees, mandatory distributions from retirement accounts can cause taxes to increase sharply. As with all
Tax planning and wealth building strategies from Kristin McKenna, CFP®. Tax-conscious wealth planning is critical for any high-income taxpayer: asset location and tax-efficient investing, stock option and equity compensation exercise and sale strategies, qualified small business stock, retirement income tax planning and bucketing strategies, deferred compensation, employer plans for business owners, charitable tax planning and donor-advised funds, reducing taxable income, changes in tax law.
Looking for ways to minimize taxes on RMDs? For wealthy retirees, mandatory distributions from retirement accounts can cause taxes to increase sharply. As with all
Tax-loss harvesting is the process of selling an investment at a loss to offset other gains or carry the loss forward to future years. It’s
A SEP IRA offers business owners the benefits of accelerated retirement contributions from a workplace retirement plan with the simplicity and flexibility of a regular
A tax refund isn’t free money. It’s also not a good indication of whether you paid more or less in taxes compared to the year
A step-up in basis is a tax advantage for individuals who inherit stocks or other assets, like a home. A step-up in basis could apply
Tax-loss harvesting is the process of selling an investment that has lost value in your portfolio to ‘realize’ the loss for tax purposes. Investors can
Updated for 2023. Self-employed business owners and entrepreneurs working for themselves part-time have a lot of flexibility when it comes to saving for retirement and
Updated for 2023. For most parents, it’s a trifecta: help your kids learn about investing, save for retirement, and get fast-tracked to becoming a millionaire.
5 reasons you shouldn’t make nondeductible contributions to an IRA Are non-deductible IRA contributions worth it? Most high-income individuals are unable to make tax-deductible contributions to
All else equal, we all want to pay as little tax as legally possible. For do-it-yourself investors, one of the biggest challenges is choosing which funds