Tax Planning

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SMART Tax Planning Tips!

As the year draws to a close, you should run through this last-minute checklist of tax planning issues that can help you keep more of your hard earned money or avoid any tax problems! Max Out Your Work Retirement Accounts (401(k), 403(b), etc). You can contribute up to $18,000 in your 401(k) for 2015. If […]
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Why Benjamin Franklin Would be Wrong Today

The famous phrase “A penny saved is a penny earned” is attributed to Benjamin Franklin. A version of it does appear in his 1737 book Poor Richard’s Almanack, but it actually first appeared about 100 years earlier in a book called Outlandish Proverbs by George Herbert. Regardless of who said it first, wise people have […]
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Should You Do Your Own Taxes?

[tp widget=”select2/tpw_select2.php”] By now, most of you should have received your 1099s or W2s from your employer to start your taxes. According to a recent survey, 49 percent of respondents said they would pay someone to do their taxes, 38 percent would do it themselves with tax preparation software, 10 percent would do it themselves […]
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Retirement Benefit Changes in 2015

How Your Retirement Benefits Will Change in 2015

Starting next year, there will be important changes to your Social Security, Medicare, Individual Retirement Accounts, and 401(k)s. Here are the new features your retirement benefits will have.  Social Security – Recipients will see a 1.7% increase next year for the annual cost-of-living adjustment. For those working, you will still be paying 6.2% of your income […]
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End-of-year tax tips

2014 End-of-the-Year Tax Benefits Part 2

In Part 1 we covered tax benefits to take advantage of before the end of the year. Click here for more tax information and to get the updated contribution limits for your retirement accounts for 2015. Here is part 2 of end-of-the-year tax benefits you don’t want to miss! Understand the Home Office Deduction. If you use […]
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Tax-Loss Harvesting

Tax Loss Harvesting

You have to pay taxes on investment gains once they become realized, or you actually receive the disbursed gain from the investment. On the flip side, if you sell an investment for a loss, you can deduct the loss up to $3,000 from your taxable income. If your loss is more than $3,000, you can rollover the […]
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Valuable End-of-the-Year Tax Tips Part 1

Last year, more than 50 popular tax provisions expired and, unfortunately, we don’t know if they will be extended for this year. With the end of the year quickly approaching, it is important to take advantage of current tax benefits, invest for retirement in a tax-efficient manner and share your wealth with loved ones! Click […]
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Why you need a financial plan

Why You Need a Financial Plan Part 3

In this series so far we covered how a financial plan can help you optimize your Social Security benefits. Click here to read part 1 and part 2. With advances in technology, you can easily analyze and compare different strategies and the results that follow. The purpose of a financial plan is to discover and establish […]
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