Podcasts about income tax planning

An overview for fiduciaries when distributing property to a beneficiary, in cash or in-kind, and the tax considerations, consequences and planning strategies. The American College of Trust and Estate Counsel, ACTEC, is a professional society of peer-elected trust and estate lawyers in the United States and around the globe. This series offers professionals best practice advice, insights and commentary on subjects that affect the profession and clients. Learn more in this podcast.

In this episode, Sev talks about many of the topics that could be test on the CFP® exam. Topics such as adjustments, deduction and credits, below market-rate loans, IRA deductibility, investment interest expense and kiddie tax rules are just some things Sev will talk about. ____________________________________________ About Sev Meneshian

DISCLAIMER: The information in this presentation is provided as education only, with the understanding that neither the presenter nor ENNIS Legacy Partners or GRF CPAs & Advisors is engaged to render legal, accounting, or other professional services. If you require legal advice or other expert assistance, you should seek the services of a competent professional. Neither the presenter nor ENNIS Legacy Partners or GRF CPAs & Advisors shall have any legal liability or responsibility to any person or entity with respect to any loss or damage caused, or alleged to be caused, directly or indirectly, by the information contained in this presentation.============================================“We want you to help you build a business that is sellable and exit successfully on your own terms and conditions.” - Pat Ennis============================================

Gene and Alyssa answer buckets o' questions: Is it ok with the IRS if business owners just pick their salaries? What is the penalty if you need to cash in an I-Bond early? How do mutual fund or exchange traded funds impact the returns an investor might see? If most of your assets are in IRAs should you also set up a trust for your kids? Lots more . . . Free Second Opinion Meetings Meet with a More than Money advisor to review your entire financial picture or simply project your retirement Meet with our Social Security partner to plan the best S/S strategy for you Meet with our estate planning attorney partner to review your estate plans – if you have any Meet with our insurance partner to review your life or long term care coverages Discover how to have your 401(k) professionally managed without leaving your company plan Schedule a free second opinion meeting with a More than Money advisor? Call today (610-746-7007) or email (Gene@AskMtM.com) to schedule your time with us.

Brent chats with Shauna A. Wekherlien (the Tax Goddess) about how to do income tax planning with the possible sunset of the Trump tax cuts in 2026. They discuss their thinking on the possibility of the sunset happening, how to view changing laws, and ways to try to have your cake and eat it too. They talk about the constant need to vigilance in tax planning and the frequency of change that makes it complex.

Hector Saenz joins attorney Todd Marquardt for part two of a special interview to talk about income tax planning on this edition of Talk Law Radio! Be sure to listen to part one beforehand! The mission of Talk Law Radio is to help you discover your legal issue blind spots by listening to me talk about the law on the radio. The state bar of Texas is the state agency that governs attorney law licenses. The State Bar wants attorneys to inform the public about the law but does not want us to attempt to solve your individual legal problems upon the basis of general information. Instead, contact an attorney like Todd A. Marquardt at Marquardt Law Firm, P.C. to discuss your specific facts and circumstances of your unique situation. www.TalkLawRadio.com Join Todd Marquardt every week for exciting law talk on Talk Law Radio!See omnystudio.com/listener for privacy information.

Hector Saenz joins attorney Todd Marquardt to talk about year end income tax planning on this edition of Talk Law Radio! Hector Saenz, business consultant and tax specialist with Liberty Tax Service South San Antonio, and I will talk about year-end tax planning and looks at ways to time income and deductions during October, November, and December. Call Hector Saenz at 210-355-3267 or email hector.saenz@libertysouthsan.com to find out how your unique facts and circumstances can benefit from year-end income tax planning. Call Marquardt Law Firm, P.C. for an initial consultation about business law, estate planning, last wills, trusts, tax protected inheritance plans, elder law, nursing home medicaid, and guardianship, probate, and trust administration at 210-530-4278. The mission of Talk Law Radio is to help you discover your legal issue blind spots by listening to me talk about the law on the radio. The state bar of Texas is the state agency that governs attorney law licenses. The State Bar wants attorneys to inform the public about the law but does not want us to attempt to solve your individual legal problems upon the basis of general information. Instead, contact an attorney like Todd A. Marquardt at Marquardt Law Firm, P.C. to discuss your specific facts and circumstances of your unique situation. www.TalkLawRadio.com Join Todd Marquardt every week for exciting law talk on Talk Law Radio!See omnystudio.com/listener for privacy information.

Hector Saenz joins attorney Todd Marquardt to talk about income tax planning on this edition of Talk Law Radio! Stay tuned for part two! The mission of Talk Law Radio is to help you discover your legal issue blind spots by listening to me talk about the law on the radio. The state bar of Texas is the state agency that governs attorney law licenses. The State Bar wants attorneys to inform the public about the law but does not want us to attempt to solve your individual legal problems upon the basis of general information. Instead, contact an attorney like Todd A. Marquardt at Marquardt Law Firm, P.C. to discuss your specific facts and circumstances of your unique situation. www.TalkLawRadio.com Join Todd Marquardt every week for exciting law talk on Talk Law Radio!See omnystudio.com/listener for privacy information.

Today, we're diving into the listener mailbag once again, to answer your questions on tax planning and strategies for the year ahead. As we approach the end of the year, it's crucial to get your financial ducks in a row so that you can keep more of your hard-earned money. Scott offers valuable insights on whether to file taxes jointly or separately, how IRMAA can affect your Medicare premiums, tax surprises that can be caused by receiving unexpected income, and more.   Here are the questions we'll tackle in today's show: Husband is 70, wife is 65- Is it okay to file separately so each one can do Roth Conversions before RMDs kick in? How do you feel about taking a lump sum out of a 457B account? Is there any drawback to this besides taking a big sum of money? Will we owe any more taxes? I received a big bonus this year.  My company withholds for tax.  I assume there is nothing else I need to do from a tax perspective?   Want to get in touch? Web: https://sierensfinancialgroup.com/ Email: office@sierensfinancialgroup.com Phone: 847-235-6989 Read more and get additional financial resources here: http://lifemoneyshow.com  Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ       

On today's episode our host Mary Vandenack, CEO, Founder and Managing Partner at Vandenack Weaver Truhlsen and Jonathan Gopman, an attorney with Nelson Mullinsand an expert on asset protection structures, discuss combining income tax planning with Asset Protection planning. Listen in to hear a high-level overview of these strategies as well as critical questions to consider before deciding on a plan. This episode includes basic strategies as well as more exciting ones such as commercial enterprise risk insurance, investing in commercial solar projects and private placement life insurance. Tune in to learn more.A Hurrdat Media Production. Hurrdat Media is a digital media and commercial video production company based in Omaha, NE. Find more podcasts on the Hurrdat Media Network and learn more about our other services today on HurrdatMedia.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Are you dreading this upcoming income tax season? It may be time to switch from tax preparation to tax planning. Strategic planning can reduce your overall tax burden, making this time of the year a lot less stressful. You should be working with a tax professional that is a part of your overall financial planning team.  One of the first steps in tax planning is projecting your future income. This means looking at your accounts, tax brackets, and your projected taxes with an as-is scenario. If you are in your earning years you have to understand the impact of earning even on more dollar and what that does to your overall tax plan. In contrast, a lot of retirees are leaving money on the table. Strategic tax planning can save you stress, time, and money.  We also want to be able to make knowledgeable decisions about our future income, predicting where taxes are going to go and how far. Unfortunately, we can't predict the future, but there are strategies to proactively pay taxes now instead of waiting for higher taxes in the future. On today's episode, we'll discuss these planning steps and a variety of planning strategies that can reduce your overall tax burden.  For a copy of our 2022 tax guide please email: info@lswealthmanagement.com or go to https://redefiningwealth.info/schedule/ Review the article mentioned in today's show >>  Today's episode and show notes can also be accessed by visiting:  https://redefiningwealth.info/93-income-tax-season-try-income-tax-planning-instead/ Rate & Review and Subscribe to the Podcast: https://podcasts.apple.com/us/podcast/retirement-talk-podcast-with-laura-stover/id571347188

There are six proven strategies for optimizing after-tax retirement income that can increase the longevity of one's assets in retirement. The post 6 Proven Retirement Income Planning Strategies Beginning at Age 62 appeared first on Retirement Income Center.

Five financial metrics can be used to analyze the pros and cons of unlocking home equity as part of a retirement income plan. The post 5 Key Financial Metrics When Evaluating a HECM Reverse Mortgage appeared first on Retirement Income Center.

COVID has drastically changed and accelerated the remote work environment, opening up the possibility to work from anywhere. With those changes come state income tax considerations, and planning opportunities. In this episode Eric and Matt dive into some basics of state income taxation related to compensation income, stock options, capital gains and more.

Back in September, the House Ways and Means Committee proposed the Build Back Better Act that would include significant income and estate tax provisions, resulting in a "seismic shift" in the trust and estate planning landscape. While a new slimmed-down version was unveiled at the end of October, there are still parts that could significantly impact income tax, estate, and trust planning strategies. Jay Pabian, Partner at Rubin and Rudman LLP, joins James Landry and Joe Cullen to discuss estate and income tax considerations in light of the Build Back Better agenda.

Back in September, the House Ways and Means Committee proposed the Build Back Better Act that would include significant income and estate tax provisions, resulting in a "seismic shift" in the trust and estate planning landscape. While a new slimmed-down version was unveiled at the end of October, there are still parts that could significantly impact income tax, estate, and trust planning strategies. Jay Pabian, Partner at Rubin and Rudman LLP, joins James Landry and Joe Cullen to discuss estate and income tax considerations in light of the Build Back Better agenda.

If current tax reform proposals become law, there will be many issues to be mindful of with planning for trusts. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, helps you get ahead of these changes so that you can plan for your clients to be ready for impending changes. Bob discusses: How the proposed higher income tax and capital gains rates will impact trusts planning The low threshold for trusts that would have the additional 3% surtax, NIIT expansion, and 199A cap kick in Changes to grantor trusts taxation that will make transactions between grantor and trust pertinent to monitor Being cognizant of electing fiscal year ends in rising tax rate environments Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.  Register for our year-end planning webcast that is free with CPE for PFP/PFS members. Access the Proactive Planning Toolkit audio learning to hear about tax proposals impacting individuals, estates, and trusts. This episode is brought to you by the AICPA's Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

One retirement income strategy that will be virtually unscathed by President Biden's proposed tax increase is longevity insurance, more commonly known as fixed-income annuities. The post Nonqualified Fixed Income Annuities: A Timeless Tax and Retirement Income Planning Opportunity appeared first on Retirement Income Center.

"While physicians provide a vital service to the U.S., they often have blind spots when it comes to maintaining their own financial health. Many in the medical field believe that financial planning is as simple as having an IRA account and that estate planning will be taken care of by a will. Unfortunately, particularly for those in this profession, financial planning is more important than ever, and President Biden's proposed tax changes could have a profound effect on physicians' financial planning in particular. Working with a fiduciary financial advisor to understand how the new laws affect physicians and implementing strategies that can lessen the impact is key to navigating these changes." Syed Nishat and Aadil Zaman are partners, Wall Street Alliance Group. They are regularly quoted and interviewed in media outlets like Medical Economics, Forbes, US News, Bloomberg, and Yahoo Finance. This special episode is the audio version of the webinar, "President Biden's tax proposal and its effects on estate and income tax planning for physicians," sponsored by Wall Street Alliance Group. (http://www.wallstreetag.com/) Watch the full webinar. (https://www.kevinmd.com/blog/2021/07/president-bidens-tax-proposal-and-its-effects-on-estate-and-income-tax-planning-for-physicians.html)

Savvy business owners planning to sell their business can reduce or eliminate income tax liability from capital gains by using a long-standing IRS-blessed strategy called a charitable remainder trust, or CRT. The post Reduce Capital Gains Tax on the Sale of Your Business appeared first on Retirement Income Center.

If you didn't take distributions from your retirement plan and IRA accounts in 2020, you may be surprised by your 2021 RMD. Adviser Robert Klein explains how changes to the rules in 2020 will impact you in 2021 and beyond. The post RMDs Required Again in 2021 appeared first on Retirement Income Center.

Six stealth taxes can increase your income tax liability and reduce your lifetime after-tax retirement income. Planning for each of them should begin long before and continue throughout retirement. The post Six Stealth Taxes That Can Derail Your Retirement appeared first on Retirement Income Center.

This article was originally published in, and has been reprinted with permission from, Retirement Daily. Distributions from a traditional 401(k) plan are generally taxable as ordinary income at your regular income tax rates. This includes pre-tax contributions plus earnings. If your traditional 401(k) plan is rolled over to a traditional IRA, the same rule applies […] The post Carve Out Your 401(k) Company Stock for Favorable NUA Tax Treatment appeared first on Retirement Income Center.

Decision Vision Episode 96: Should I Take an Home Office Deduction? – An Interview with Matthew Steinberg, Brady Ware & Company The question of a home office deduction has suddenly come up in 2020 with so many more individuals working from home. Brady Ware Tax Manager Matthew Steinberg joins Host Mike Blake to discuss the […] The post Decision Vision Episode 96: Should I Take an Home Office Deduction? – An Interview with Matthew Steinberg, Brady Ware & Company appeared first on Business RadioX ®.

Decision Vision Episode 96: Should I Take an Home Office Deduction? – An Interview with Matthew Steinberg, Brady Ware & Company The question of a home office deduction has suddenly come up in 2020 with so many more individuals working from home. Brady Ware Tax Manager Matthew Steinberg joins Host Mike Blake to discuss the […]

A Roth conversion often makes sense but there are times when reduced income tax savings can offset the potential long-term benefits of large conversion amounts.. The post Keep Your Eye on QBI Before You Rothify appeared first on Retirement Income Center.

There are two strategies you can use to avoid the 10% premature distribution penalty: Coronavirus-Related Distributions and 72(t). The post Don’t Qualify for Cornavirus-Related Distributions? There’s Always 72(t) appeared first on Retirement Income Center.

As year-end approaches, tax planning preparation becomes increasingly important. Dentists who’ve received HHS Provider Relief Funds, or the SBA’s PPP or EIDL loans certainly need to keep good accounting of any funds received to help them financially through the COVID-19 shutdowns. To maximize tax savings, dentists need to be proactive and keep tax planning and preparation top-of-mind, especially this year. Properly tracking and documenting expenditures is paramount.   In this episode of The Art of Dental Finance and Management podcast, Artmeets with colleague, Scott Haberman, CPA. Scott is a Partner on the Eide Bailly Dental Services team, helping dentists navigate the operational and tax implications of their practice. Art and Scott provide updates on the HHS Provider Relief Fund, what Congress has been working on that may affect dentists, as well as the important issues to consider regarding your 2020 tax planning.    For any questions about any tax planning or any dental finance issues, Art is here to help you. His contact information is awiederman@eidebailly.com or 657.279.3243. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist.  

Does the thought of “income tax” intimidate you? Well, you can choose to evade this topic all you want, but you will have to deal with it at some point anyway – because the IRS is never going away.  The IRS has what it takes to take what you have.  And as a business owner, you can’t just allow yourself to get left out of the math simply because you don’t want to learn. It’s your responsibility to understand tax at a certain level. You may not have those big quarters yet or you may not be in the middle of a big launch. Maybe that's not even in your plan for the next year or two and you're still just trying to get your thing off the ground. Whatever the case may be, the principles are still the same.  The earlier you start with this, the more comfortable you’re going to feel with your numbers being accurate. And the more accurate your numbers, the better impact this has on your tax. Then once it actually starts to matter, you’re more confident about it because you’ve already mastered it. In this episode, you will hear: Why it’s crucial to factor in the costs Making the plan before the money comes in When to record your prepayments What eCommerce people should consider when it comes to income tax Accrual-based taxpayer vs. true cash basis taxpayer Why inventory management is very important Understanding your timeline   Subscribe and Review Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet.  We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps us out a ton as we seek to bring you  If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just fill in your information below to download it.    Supporting Resources: ProfitHERO™   *** Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment. He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world. Find out more at https://emeraldcitypro.com

If you are the beneficiary of a retirement or IRA account that you inherited after 2019, you need to familiarize yourself with the new SECURE Act rules to determine the applicable time frame for taking distributions in order to avoid potential sizable penalties. The post You Have 10 Years to Empty Your Beneficiary IRAs If You Aren’t an EDB appeared first on Retirement Income Center.

If you are the beneficiary of a retirement or IRA account that you inherited after 2019, you need to familiarize yourself with the new SECURE Act rules to determine the applicable time frame for taking distributions in order to avoid potential sizable penalties. The post You Have 10 Years to Empty Your Beneficiary IRAs If You Aren’t an EDB appeared first on Retirement Income Center.

Although you can rollover, or return, your 2020 IRA and other retirement plan February 1st to May 15th distributions as a result of the 2020 waiver of RMDs, there's another strategy that you can use to reduce future years' income tax liability and optimize lifetime after-tax distributions for you and your heirs.

Although you can rollover, or return, your 2020 IRA and other retirement plan February 1st to May 15th distributions as a result of the 2020 waiver of RMDs, there's another strategy that you can use to reduce future years' income tax liability and optimize lifetime after-tax distributions for you and your heirs. The post Contribute Your 2020 RMD to a Roth IRA appeared first on Retirement Income Center.

Use the CARES Act waiver of 2020 required minimum distributions as an opportunity to optimize your retirement income plan. The post 2020 Required Minimum Distributions Waived appeared first on Retirement Income Center.

Use the CARES Act waiver of 2020 required minimum distributions as an opportunity to optimize your retirement income plan.

As a result of a series of three events, there’s an unprecedented opportunity to do a sizable Roth IRA conversion this year. The post The Roth IRA Conversion Trifecta appeared first on Retirement Income Center.

As a result of a series of three events, there’s an unprecedented opportunity to do a sizable Roth IRA conversion this year.

The stock market decline of almost 30% over the last month in response to the spreading Coronavirus, if sustained, could trigger legislation for retirement plan relief. This could potentially include suspension of required minimum distributions and changes to the SECURE Act that went into effect January 1st. The post Will Congress Suspend 2020 Required Minimum Distributions? appeared first on Retirement Income Center.

The stock market decline of almost 30% over the last month in response to the spreading Coronavirus, if sustained, could trigger legislation for retirement plan relief. This could potentially include suspension of required minimum distributions and changes to the SECURE Act that went into effect January 1st.

In this episode, Art talks about year-end income tax planning for dentists. He explains the difference between a marginal and effective rate of tax, how changes in the Congress and the White House might impact tax rates and deductions in 2021, and what things a dentist can do to reduce his or her tax liability through their dental practice. In addition, he’ll provide tips on how to use retirement plans and equipment purchases to cut taxes, and how to take care of two very important parts of the 2017 tax reform act: (1) the 20% Pass-Through deduction under Tax Code Section 199A, and (2) the Child Tax Credit, which can save taxpayers $2,000 per child. Lots of tips and tax planning ideas that could save dentists thousands of dollars before the end of the year. Don’t miss this important episode!

One underutilized strategy for optimizing the longevity of assets when planning for retirement is a staged, or multi-year, Roth IRA conversion plan. There are seven reasons to start this type of plan today. The post 7 Reasons to Start a Staged Roth IRA Conversion Plan Today appeared first on Retirement Income Center.

One underutilized strategy for optimizing the longevity of assets when planning for retirement is a staged, or multi-year, Roth IRA conversion plan. There are seven reasons to start this type of plan today.

A surviving spouse who has the same, or even less, income will often be subject to higher federal, and potentially, state, income tax liability. The post Is Your Widow(er) Included in Your Income Tax Plan? appeared first on Retirement Income Center.

A surviving spouse who has the same, or even less, income will often be subject to higher federal, and potentially, state, income tax liability.

Join us as Equitable's Tom McGlynn interviews Steve Oshins Esq., AEP (Distinguished) on the vital importance of state income tax planning through the implementation of various types of trusts. Learn how to use this information to help your clients plan for their future and how life insurance plays a critical role in maximizing estate distribution. IU-2443337 (3/19) (Exp 3/21)

Lower tax rates under the new income tax law, combined with the likelihood of higher tax rates in the future, support a Roth solo 401(k) contribution strategy. The post Roth Solo 401(k) Makes More Sense Than Ever appeared first on Retirement Income Center.

Lower tax rates under the new income tax law, combined with the likelihood of higher tax rates in the future, support a Roth solo 401(k) contribution strategy.

The Tax Cuts and Jobs Act of 2017 contains numerous changes that affect income tax planning and preparation for 2018 through 2025 after which most of the provisions expire. Two of the more significant changes are a reduction in the amount of principal on which residential mortgage interest can be deducted and the elimination of […]

The Tax Cuts and Jobs Act of 2017 contains numerous changes that affect income tax planning and preparation for 2018 through 2025 after which most of the provisions expire. Two of the more significant changes are a reduction in the amount of principal on which residential mortgage interest can be deducted and the elimination of […] The post The Interest Deduction is Dying a Slow Death appeared first on Retirement Income Center.

Give us a call - 888-723-4630 Send us an email - sellingonebay@ebay.com visit us at ebay.com/sellingonebay   Welcome to Selling on eBay! Our theme this week is Income Tax Planning. In our Main Story Mark Tew, “Not Your Dad’s CPA,” gives advice for the tax season. On Inside eBay we learn how tax refunds fuel boosts in buying from Marni Levine, eBay’s V.P. of Merchandising. We also have The Buzz with Doug Smith, and your questions! To have your questions answered on Selling on eBay, call us at 888 723-4630 or email us at sellingonebay@ebay.com.   00:01 - Intro 01:20 - The Buzz 07:44 - The Main Story - Not your Dad’s CPA - Tax planning 17:58 - Inside eBay - Tax refund shopping behaviors 26:21 - Calls / Questions 31:35 - Outro   Links / Phone Numbers / Hashtags Mentioned: 888-723-4630 - Call in Line eBay.com/announcements eBay.com/community eBay.com/meetups ebay.com/sellercenter eBay.com/sellingonebay explore.eBay.com facebook.com/eBayForBusiness Inventory Optimization 
Listing Best Practices Extreme weather Seller News Announcement 
 Simplified Returns #ebaypodcast #makingithappen   

There are five deductions available to self-employed individuals, including a brand new one in 2018, that can result in substantial income tax savings. The post 5 Self-Employed Income Tax Deductions You Don’t Want to Miss appeared first on Retirement Income Center.

There are five deductions available to self-employed individuals, including a brand new one in 2018, that can result in substantial income tax savings.

When you buy a house, typical financing is a mortgage equal to 80% of the purchase price. This enables you to purchase a much more expensive home than you would otherwise be able to do without the mortgage. The goal is to increase your equity in the property over time through a combination of paying down the mortgage and appreciation.

When you buy a house, typical financing is a mortgage equal to 80% of the purchase price. This enables you to purchase a much more expensive home than you would otherwise be able to do without the mortgage. The goal is to increase your equity in the property over time through a combination of paying down the mortgage and appreciation. The post Leverage Your Assets for Retirement appeared first on Retirement Income Center.

Income Tax Planning in retirement is CRUCIAL!!  Mike explains how to minimize your taxes on Social Security, avoiding the surtax on Medicare Premiums, and how to prevent tax bracket “creeping.”

Anyone who wants to avoid tax and receive tax-favored lifetime income on the sale of an unencumbered rental property is a potential candidate for a charitable remainder trust, or CRT. The post How to Avoid Tax and Receive Tax-Favored Lifetime Income on the Sale of a Rental Property appeared first on Retirement Income Center.

Anyone who wants to avoid tax and receive tax-favored lifetime income on the sale of an unencumbered rental property is a potential candidate for a charitable remainder trust, or CRT.

The Tax Cuts and Jobs Act, while controversial, especially in high state income tax states, will result in tax savings for most people.

The Tax Cuts and Jobs Act, while controversial, especially in high state income tax states, will result in tax savings for most people. The post New Tax Law – The Mostly Good, the Bad, and the Ugly appeared first on Retirement Income Center.

In this 25-minute podcast, Bob Keebler discusses planning to maximize the income tax benefits of retirement plans and IRAs under the Tax Cuts and Jobs Act. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

In this 25-minute podcast, Bob Keebler discusses planning to maximize the income tax benefits of retirement plans and IRAs under the Tax Cuts and Jobs Act. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

In this 25-minute podcast, Bob Keebler discusses planning to maximize the income tax benefits of retirement plans and IRAs under the Tax Cuts and Jobs Act. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

Given the relatively small limit of nondeductible IRA contributions and complexity of calculating allowable contributions, tracking basis, and calculating the taxable portion of IRA distributions, are they worth the effort?

Given the relatively small limit of nondeductible IRA contributions and complexity of calculating allowable contributions, tracking basis, and calculating the taxable portion of IRA distributions, are they worth the effort? The post Are Nondeductible IRA Contributions Worth It? appeared first on Retirement Income Center.

Making deductible retirement plan contributions and "recapture my deductions" beginning when you turn 70-1/2 may not be the best strategy for optimizing after-tax retirement plan distributions. The post RMDs: Recapture My Deductions – A Questionable Strategy appeared first on Retirement Income Center.

Making deductible retirement plan contributions and "recapture my deductions" beginning when you turn 70-1/2 may not be the best strategy for optimizing after-tax retirement plan distributions.

Your Financial Matrix   Summary:   In today's 7th episode of the Confident Wealth Podcast, Bill Bush and Pete Bush from the Horizon Financial Group of Baton Rouge, Louisiana discuss the value in utilizing an internally developed tool called “Your Financial Matrix.” Learn all about the benefits of the seven categories of this financial planning strategic device which are: Cash Flow an Budget, Investment Planning, Retirement Planning, Income Tax Planning, Risk Management and Insurance, Estate Planning and Charitable Giving, and Assistance to Others. Bill and Pete will get you up to speed on the importance of customizing your wealth-building methods to your particular lifestyle.     Time Stamped Show Notes: 00:56 – Bill Bush and Pete Bush start the discussion on the multiple components of building wealth. 02:26  – “Your Financial Matrix,” developed by Peter Bush, spells out financial situations the Horizon Financial Group can assist with. 03:15 – The 7 Categories of “Your Financial Matrix”: Cash Flow and Budget, Investment Planning, Retirement Planning, Income Tax Planning, Risk Management and Insurance, Estate Planning and Charitable Giving, and Assistance to Others. 03:31 – 1.) Cash Flow and Budget: a foundational part of a person's financial plan because it is out of discretionary cash flow that they can save, buy insurance, and help other people. 06:22 – Sometime during 2000 Horizon Financial Group shifted to the holistic planning model and fee-based planning. 08:32 – 2.) Investment Planning: major factors that effect this include: risk tolerance, time, volatility, taxable vs. tax-deferred, and asset allocation. 11:25 – 3.) Retirement Planning: factors to consider include: business exit strategy, social security, Medicare, and withdrawal strategies. 14:36 – 4.) Income Tax Planning: make sure that you are maximizing deductions. Look at your tax return from a financial planning standpoint instead of a tax standpoint. 17:54 – 5.) Risk Management and Insurance: you are guarding yourself against catastrophic potential risk. Look for old policies that are not needed, too expensive, or outdated. 20:40 – 6.) Estate Planning and Charitable Giving: trusts, setting up powers of attorney, estate taxes, giving to your favorite charities, and wills fall under this category. 23:17 – 7.) Assistance for Others: this category can apply to preparing for your kids to go to college, or assisted living facilities for your elderly parents when they can no longer take care of themselves. 28:08 – The closing credits   3 Key Points: Key factors that have an effect on investment planning include: risk tolerance, time, volatility, taxable vs. tax-deferred, and asset allocation. Factors to consider with retirement planning include: business exit strategy, social security, Medicare, and withdrawal strategies. With charitable giving and estate planning, you are dealing with trusts, setting up the proper powers of attorney, estate taxes, giving to your favorite charities, and setting up your will.   Tweetable Quotes: -    “Cash flow and budgeting, very, very foundational to someone's financial picture.” – Pete Bush. -    “For the most part, everybody's accumulating wealth in the value of their homes and their 401K plans.” – Pete Bush. -    “There's a lot of different components to your money and financial life, more so than just your retirement or your investment portfolio.” – Pete Bush.   Resources Mentioned: Horizon Financial Group – website for Horizon Financial Group Confident Advisor Practice – podcast for Confident Advisor Practice

The alternative minimum tax, or AMT, dreaded by many taxpayers for years, has been given a long-overdue facelift by the Tax Cuts and Jobs Act, with an associated reduction in affected individuals from 5 million to 200,000.

The alternative minimum tax, or AMT, dreaded by many taxpayers for years, has been given a long-overdue facelift by the Tax Cuts and Jobs Act, with an associated reduction in affected individuals from 5 million to 200,000. The post AMT Exposure Minimized Under New Tax Law appeared first on Retirement Income Center.

In this 20-minute podcast, Bob Keebler, Jonathan Blattmachr and Bob Keebler discuss the disallowance of miscellaneous itemized deductions, the new kiddie tax rules, choice of business entity, and other aspects of the 2017 tax legislation. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

The new Tax Cuts and Jobs Act contains several provisions that partially, or completely, negate what appear at first blush to be potential tax savings. The post Tax Reform: Now You See It, Now You Don’t appeared first on Retirement Income Center.

The new Tax Cuts and Jobs Act contains several provisions that partially, or completely, negate what appear at first blush to be potential tax savings.

If the Tax Cuts and Jobs Act as currently proposed is enacted, middle-income taxpayers who make charitable contributions based solely on tax savings may be less inclined to do so if the amount of their standard deduction is greater than their allowable itemized deductions. The post Charitable Giving Cut for Middle-Income Taxpayers in Tax Cuts and Jobs Act appeared first on Retirement Income Center.

If the Tax Cuts and Jobs Act as currently proposed is enacted, middle-income taxpayers who make charitable contributions based solely on tax savings may be less inclined to do so if the amount of their standard deduction is greater than their allowable itemized deductions.

A Tax Credit Longevity Annuity Plan, or TCLAP, would create tax-favored private pension plans while also providing for long-term care benefits. The post The Perfect Storm for a Tax Credit Longevity Annuity Plan appeared first on Retirement Income Center.

A Tax Credit Longevity Annuity Plan, or TCLAP, would create tax-favored private pension plans while also providing for long-term care benefits.

Now that the 2016 income tax filing season is behind us, we can focus on 2017 tax planning. Although the stock market is down about 3% from record highs, there are a lot of investors with significant unrealized capital gains in nonretirement investment accounts. The dilemma for these individuals is how to sell their appreciated […]

Now that the 2016 income tax filing season is behind us, we can focus on 2017 tax planning. Although the stock market is down about 3% from record highs, there are a lot of investors with significant unrealized capital gains in nonretirement investment accounts. The dilemma for these individuals is how to sell their appreciated […] The post Avoid Income Tax on Stock Sales with Donor Advised Funds appeared first on Retirement Income Center.

A series of lectures covering everything there is to know about the law and tax aspects of charitable gift planning. Earn CFRE credits by taking the test (link included in final episode).

As my clients and those of you who have read my MarketWatch RetireMentors articles and Retirement Visions blog posts know, I’m a huge fan of Roth IRA conversions. One caveat:  they must be timely. There are two types of timely Roth IRA conversions: Strategic Market-sensitive Strategic Roth IRA Conversion The goal of a strategic Roth […]

As my clients and those of you who have read my MarketWatch RetireMentors articles and Retirement Visions blog posts know, I’m a huge fan of Roth IRA conversions. One caveat:  they must be timely. There are two types of timely Roth IRA conversions: Strategic Market-sensitive Strategic Roth IRA Conversion The goal of a strategic Roth […] The post Strategic Roth IRA Conversions Still Make Sense appeared first on Retirement Income Center.

In this interview, Bob Keebler and Robert Gordon discuss income tax planning for securities investors under the Trump administration. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

Elimination of income testing for traditional and Roth IRAs and creation of a universal 401(k)/IRA contribution limit is needed to enable all individuals who aren't participants in 401(k) plans to (a) contribute to an IRA of their choice and (b) accumulate a nest egg in a retirement plan comparable to what's possible with a 401(k).

Elimination of income testing for traditional and Roth IRAs and creation of a universal 401(k)/IRA contribution limit is needed to enable all individuals who aren't participants in 401(k) plans to (a) contribute to an IRA of their choice and (b) accumulate a nest egg in a retirement plan comparable to what's possible with a 401(k). The post It’s Time for IRA – 401(k) Contribution Parity appeared first on Retirement Income Center.

I presented an overview of five types of unallowed income tax losses that must be carried forward to the following year in my MarketWatch RetireMentors article, 5 Carryovers to Remember When Doing 2016 Tax Planning that was published on May 4. This post will discuss one of them, passive losses, in more detail since the rules […] The post Leverage Your Rental Property Suspended Passive Losses appeared first on Retirement Income Center.

I presented an overview of five types of unallowed income tax losses that must be carried forward to the following year in my MarketWatch RetireMentors article, 5 Carryovers to Remember When Doing 2016 Tax Planning that was published on May 4. This post will discuss one of them, passive losses, in more detail since the rules […]

Last week, we covered Income Tax planning, but there's a whole world of planning you can do outside of that, to feather your own nest. In today's show I'll cover the two other main personal taxes, and look at how you can do some good solid Capital Gains Tax planning and Inheritance Tax planning [smart_track_player url="http://traffic.libsyn.com/meaningfulmoney/MMP147.mp3" title="Session 146: Income Tax Planning" artist="MeaningfulMoney Podcast" color="01A83C" social="true" social_twitter="true" social_facebook="true" social_gplus="true" ] Podcast: Subscribe in iTunes | Play in new window | Download Sponsor Message This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I'm doing, trying to get decent, easy-to-understand financial information out to the world. I'm very grateful to them for their support. You can see what they're up to at 7im.co.uk Capital Gains tax planning & Inheritance Tax planning Capital Gains Tax (CGT) and Inheritance Tax (IHT) - both will likely figure at some point in your investing career, if they haven't already. But CGT and IHT are most definitely able to be planned around, and I'm here to be your guide. All tax allowances and rates are for the 2016/17 tax year, and this is UK-only folks - apologies to my overseas listeners. Check out the archive! In this session, you'll discover: How capital gains tax works What CGT is charged upon and how it is calculated Why it might  be a good idea to make a loss from time to time How to make the best use of your assets for Capital gains tax planning Which kinds of investments are advantageous for CGT How Inheritance Tax works What the Nil Rate Band is, and how it is changing The three best ways to reduce your IHT liability How to best execute your Inheritance Tax planning strategies Everything I cover in this session will be enough for most people to never pay either Capital Gains Tax or even Inheritance Tax. Most of us don't have big issues with these taxes, but just need to know the best ways to work around them. Resources mentioned in this show Podcast: Personal Taxation Overview Podcast: Income Tax Planning Video: Enterprise Investment Schemes Transcript: As always, there is a full transcript of this show available by clicking the big blue button below: Join the conversation I love to read and respond to your comments, so please do join in and share. Question: What capital gains tax planning and inheritance tax planning measures have you taken? Share the love Hugs and kisses to Toxic_Fairy, and Dr Simon Li for their reviews this week - much appreciated folks! If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe. Just click the button below:

Income tax is a fact of life for most people, but income tax planning opportunities are available to everyone who needs them, if you know where to look. In this week's show I cover the obvious and not-so-obvious income tax planning tips you need to know.   Podcast: Subscribe in iTunes | Play in new window | Download   Sponsor Message This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I'm doing, trying to get decent, easy-to-understand financial information out to the world. I'm very grateful to them for their support. You can see what they're up to at 7im.co.uk Income tax planning The current and previous governments have done a great deal to bring more people out of paying income tax by increasing allowances, of which more in a minute. For those of us who do pay tax, there are plenty of ways of saving tax legitimately and that's what we're looking at today. By the way, I'm guessing there are not too many bazillionaire footballers and pop stars listening to this. These are the kinds of people who have fallen foul to tax avoidance schemes which turned bad. Needless to say I'm not a fan of anything dodgy. In fact, I wrote a blog about the difference between tax avoidance and tax evasion, and why I think it is right and proper that we pay tax, even while using all the many allowances and reliefs that are offered to us to reduce tax. BTW, this is a session geared towards UK taxpayers, as I have no idea how tax works anywhere else in the world! In this session, you'll discover: How income tax works All the allowances which are available from April 2016 All about about income tax reliefs – free money! What you should do if you're in a relationship, to save income tax How to use the coming facility of ISA restocking to your advantage How to make the most of the new dividend allowance Which tax wrappers you should use to take best advantage of income tax planning angles The new extended personal allowance, personal savings allowance and dividend allowance, coupled with the existing benefit of pensions and ISAs will mean that the vast majority of people could well pay zero tax on all their investments and pensions (except when you take money out of a pension). It's just a matter of organising things in the best way possible.   Also, watch for  the articles and videos on the MeaningfulMoney.tv site. I put out a blog post on Monday, the podcast on Wednesday and a video on Friday, and February is tax month, so that'll be the general theme, at least until I run out of stuff to talk about! If you have any questions about this personal taxation overview, leave a comment below. Resources mentioned in the show Podcast: Personal Taxation Overview – including a downloadable cheatsheet with worked income tax examples   Join the conversation I love to read and respond to your comments, so please do join in and share. Question: What income tax planning measures have you taken? Have you invested in different tax wrappers? Share the love Hugs and kisses to Troy50, Rob Mildren and Steve Binns for their reviews this week – much appreciated folks! If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe.

Even if you're not covered by a retirement plan, deductibility of your IRA contribution is at risk if your spouse has a retirement plan and your income is too high. The post Deductibility of Your IRA Contribution Endangered by Your Spouse’s Retirement Plan appeared first on Retirement Income Center.

Even if you're not covered by a retirement plan, deductibility of your IRA contribution is at risk if your spouse has a retirement plan and your income is too high.

Given the fact that opportunities to reduce RMDs and associated income tax liability are limited, QLACs are an attractive alternative. The post Is a QLAC Right for You? appeared first on Retirement Income Center.

Given the fact that opportunities to reduce RMDs and associated income tax liability are limited, QLACs are an attractive alternative.

Bob Keebler interviews Edwin Morrow of Key Bank and Ohio attorney Bo Loeffler in an in-depth discussion of the implications of the U.S. Supreme Court decision in Clark v. Rameker for asset protection planning and income tax planning for IRAs. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

Bob Keebler interviews Edwin Morrow of Key Bank and Ohio attorney Bo Loeffler in an in-depth discussion of the implications of the U.S. Supreme Court decision in Clark v. Rameker for asset protection planning and income tax planning for IRAs. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

This year presents an unprecedented opportunity for you to differentiate your firm and services and show that you provide significant value to your clients by having all of their financial planning needs in mind, including retirement, estate, tax, investment and insurance planning. With so many unknowns in 2013 compounded by an election year, your clients need to take advantage of many financial planning avenues now to avoid missing crucial opportunities to protect their nest egg and increase their net worth.

It's a stamp duty holiday - but who qualifies? Plus, ISAs and tax planning See acast.com/privacy for privacy and opt-out information.