For business owners starting to think about the next generation, the phrases”estate tax” or “transfer tax” almost seem like curse words. The bad news is that when you build an estate of a certain size,…
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“I paid out the ears in taxes this year. How can I reduce my tax burden?” This is a question I’m hearing a lot from business owners recently. And while it may not sound flashy,…
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Inheriting an IRA is quite a bit different than inheriting any other asset. Unlike cash or investments in a traditional investment account, if you inherit an IRA you’ll need to start withdrawing from the account…
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Managing your financial affairs is a big job. You have to keep track of your income, manage your assets for long term growth, pay taxes, and arrange for your estate to be distributed after you…
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Incentive stock options, or ISOs, are a pretty common way for companies to compensate management and key employees. Otherwise known as “statutory” or “qualified” options, ISOs are a way to give management a stake in…
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Let me start by saying that I’m a big fan of most tax preparation software. Taxes are a cost in and of themselves. Any way to automate the prep and filing process in a compliant…
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If you’ve ever invested in a mutual fund, you may know that they’re required to distribute at least 95% of their capital gains to investors each year. You may also know from experience that these…
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Should I contribute to a traditional or a Roth IRA? This is a big question I get asked fairly frequently. And really, the conversation expands beyond individual retirement accounts. The decision whether to invest on a…
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There’s a plethora of tax advantaged retirement accounts out there today. Enough that the acronyms and numbers can get really confusing… IRA 401k 403b 457 Profit sharing SEP IRA SIMPLE IRA Just to name a…
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You’re probably familiar with the term “required minimum distributions” (or RMDs for short). They’re the systematic withdrawals that the IRS makes you take out of an IRA after you turn 70 1/2. But what about…
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