The income levels for 2023 tax brackets include an adjustment higher for every bracket, but the tax rates are not changing. The standard deduction will be increasing as well as the retirement and HSA plan contribution limits. These changes should be taken into...
Tax Loss Harvesting is a great end-of-the-year tax planning tool. The goal of this exercise is to sell investments at a loss to offset other potential income taxes. Capital losses can be used to reduce capital gains in a given year since only the ending net result is...
NOTE ABOUT IRA TO ROTH IRA CONVERSIONS: Each year, we recommend that our clients consider converting money from an IRA to a Roth IRA. Because of our national debt, we believe that taxes will need to be raised in the future, and tax brackets will correspondingly be...
Budget for holiday shopping and gifts before spending. Review retirement contribution amounts and limits for the current year. Set budget and financial goals for the upcoming year. Evaluate tax planning strategies such as Tax Loss Harvesting, Charitable...
NOTE ABOUT IRA TO ROTH IRA CONVERSIONS: Each year, we recommend that our clients consider converting money from an IRA to a Roth IRA. Because of our national debt, we believe that taxes will need to be raised in the future, and tax brackets will correspondingly be...
Dollar Cost Averaging is the technique of systemically funding and investing savings based on a recurring timeframe. This strategy is used to avoid complications with attempting to time market bottoms and tops. We also believe this is a beneficial strategy from a...
