Annuities and Retirement Planning: Safeguarding Your Future Income Stream
Safeguarding Your Future Income Stream
financial strategic planning
Tax Planning as a Service
Most people just think of taxes when returns are due. That’s probably because most accountants and other financial professionals don’t offer much else. Tax planning is a specialty. It’s also an incredibly important issue to consider for wealth building success. There are lots of different applications for a tax planning professional. It ranges from careful and calculated steps for long term wealth building to panic button moments where today’s decision could have a big impact on taxes owed tomorrow. Sure, it’s great if you can know in advance what you’ll do in every circumstance, but life doesn’t always happen that way. Good tax planning consultants are not only there for retirement strategies, but are also available when you need input on now decisions that could be costly if not structured carefully. Don’t think you don’t make enough money to make tax planning necessary? Lifestyle focused people can often benefit the […]
Taking a small loss for a bigger win
Taking a small loss for a bigger win It’s not always a bad thing to lose money. Smart investors try to be strategic about how they do it, though. The IRS lets you offset up to $3000 of your income annually with capital gains losses. This can be applied to future years too. Just look at last year’s tax return to see what you carried forward. While losing money on an investment is disappointing, you might find taking a small loss for a bigger win makes sense come tax time. Of course, that requires some smart planning. Tax code changes are still hurting some Changes made with the 2018 federal tax code are still costing people money because individuals, and some professional providers too, don’t understand how much these can affect taxes owed. Think about this – if your joint return in 2018 showed $77,401 in capital gains, you jumped […]