Introduction Capital gains tax can be a confusing and costly issue for most Americans. It is easy to misunderstand your full tax liability and a lot of us over or under pay your taxes. Knowing the ins and outs of dealing with capital gains can save you time and money. How Tax Brackets Work Before […]
Have you ever thought about selling your rental and reinvesting the proceeds in another property? If so, you may be able to avoid paying capital gains taxes on the sale of your original property by completing a 1031 exchange. Named after section 1031 of the US Tax Code, this strategy is commonly used by investors […]
Introduction Hey, future retirees! Are you feeling a bit nervous about actually using those hard-earned savings? We know it can be stressful, but guess what? With the right retirement withdrawal strategy, you can make that money last longer than you ever thought possible. It's all about learning how to tap into your assets in the […]
What is a Roth Conversion? A Roth conversion is a financial maneuver that can be beneficial for tax savings. Essentially, it involves converting money from certain retirement accounts such as Traditional IRAs and 401(k)s into Roth IRAs. This allows the money to grow tax-free since they are already after-tax contributions. By doing this, individuals can […]
If you're like most people, you dream of retiring as early as possible. But what if you need to access some of your retirement funds before age 59½? Is that even possible? The answer is yes, it is possible—but there are a few things you need to know in order to do so. In this […]
One of the most common questions taxpayers have is “when to use qualified charitable distributions (QCDs) instead of donations in kind”. While there are advantages and disadvantages to both methods, ultimately it comes down to reducing taxes. In this article, we will explain both and the best ways to maximize your tax savings. We will […]
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