Understanding Potential TCJA Expirations: Implications and Planning Strategies The Tax Cuts and Jobs Act (TCJA) of 2017 brought sweeping changes to the U.S. tax code, reshaping tax rates, deductions, and credits for individuals and businesses alike. While this legislation has influenced the financial landscape for several years, many of its key provisions are set to…
3 Advanced Roth IRA Conversion Strategies for High-Income Professionals Roth IRAs offer several benefits, including tax-free growth and withdrawals during retirement. However, not everyone can contribute directly to a Roth account due to income restrictions imposed by the IRS. This caveat can pose challenges for high earners seeking to benefit from a Roth IRA’s unique…
Family Limited Partnerships & Estate Planning: Key Considerations for High-Net-Worth Families The Tax Cuts and Jobs Act (TCJA) of 2017 introduced several provisions that are set to expire at the end of 2025. One of the most significant changes on the horizon is the reduction of the estate tax exemption. As of 2024, estates valued…
Retiring Abroad: Pros, Cons, and Considerations Retiring abroad has become an increasingly popular option for many Americans seeking adventure, a change of pace, or a way to stretch their retirement savings. In fact, data from the Social Security Administration shows that the number of Americans collecting retirement benefits overseas jumped from approximately 413,000 in 2017…
Value vs. Growth: Is There a “Right” Way to Invest? Long-term investing is more than just putting money into the stock market; it requires strategic planning and choosing investments that align with your financial objectives. Two popular yet distinct approaches investors often use to build wealth are value investing and growth investing. Although both investment…
6 Common Estate Planning Mistakes (And How to Avoid Them) Estate planning is crucial for efficiently transferring your assets and ensuring your wishes are honored when you’re no longer here. It can also save your loved ones from unnecessary legal challenges, financial burdens, and the distress of managing your estate under court supervision. Many people…
The Complete Guide to Special Needs Trusts Special Needs Trusts not only protect essential government benefits but also enhance the quality of life and long-term security for individuals with special needs. They offer families peace of mind, knowing that their loved ones will be well cared for both now and in the future. Whether you’re…
5 Retirement Savings Catch-Up Strategies to Help You Secure Your Financial Future Accumulating sufficient savings during your working years helps paves the way for a secure and comfortable retirement. However, many individuals find themselves facing the daunting reality of starting their retirement planning later than ideal. Indeed, competing financial responsibilities, fluctuating income levels, and even…
7 Tips for Reducing Financial Stress If you’ve ever laid awake at night worrying about bills, felt a knot in your stomach when checking your bank balance, or argued with a loved one about money, you’re not alone. In fact, a staggering 73% of Americans identify money as the number-one cause of stress in their…
Financial Advisors vs. Financial Planners: What’s the Difference? As your financial situation grows more complex, professional guidance can be invaluable in helping you achieve your goals. However, choosing the right expert can be challenging given the wide range of available options. For instance, you may find yourself wondering whether you need a financial advisor or…