Below you'll find a list of all posts that have been categorized as “Financial Planning”
Why this is important now Smart planning strategies Tax efficiency isn’t about avoiding gains — it’s about aligning them with your bigger financial picture. At wealthnest®, we work with clients to build portfolios that grow while keeping tax surprises under control. Rising capital gains distributions and overlooked interest income don’t have to catch you off guard. With the right planning, …
For couples living in a community property state, a brokerage account can offer unique tax benefits—especially when it comes to estate planning and investment flexibility. Two of the biggest advantages are the step-up in basis and the freedom to liquidate investments on your own terms. 1. Step-Up in Basis at the First Spouse’s PassingIn a community property state, when one spouse …
Receiving an inheritance might seem like a financial windfall—but if that inheritance includes a traditional IRA, it may come with an unexpected side effect: a substantial tax bill. Thanks to recent changes from the SECURE Act, many beneficiaries now face new rules and tighter timelines when it comes to inherited retirement accounts. If you’re not careful, you could end up …
As we near the end of 2025, taxpayers face a unique opportunity—one that may disappear with the sunset of the Tax Cuts and Jobs Act (TCJA). Among the most powerful moves available to those looking to reduce long-term tax burdens is a Roth conversion. For many individuals, converting pre-tax retirement accounts to Roth IRAs in 2025 could be a smart …
The Tax Cuts and Jobs Act (TCJA), passed in 2017, ushered in sweeping changes to the U.S. tax code—reducing tax rates, doubling the standard deduction, limiting certain itemized deductions, and increasing estate tax exemptions. But many of these provisions were temporary, and without congressional intervention, they are set to expire at the end of 2025. If Congress allows the TCJA …
Tax planning is a crucial aspect of financial management, especially as the end of the year approaches. With the right strategies in place, individuals and businesses in Chandler, Arizona can ensure they are making the most of available deductions and credits while minimizing their tax liabilities. Working with a knowledgeable tax professional can help navigate the complexities of tax laws …
OK! Let’s talk about IRS letters and decipher the mysterious jargon that comes with them. If you’ve ever received a letter from the IRS, you know how nerve-wracking and confusing it can be. The language is often filled with jargon and confusing terms that make your head spin. But fear not, my friends! This blog post is here to help …
Tax planning is often seen as a task that only needs to be done once a year, right before the tax filing deadline. However, this common misconception can lead to missed opportunities for maximizing savings. Mid-year tax planning can provide a range of hidden benefits that can significantly impact your financial situation. By taking the time to review your tax …
As a working mom, whole weeks may go by without the chance to sit down or even think. You’re managing a career, making decisions for your family, and caring for kids and often parents, too. It’s not easy, then, to hear about one more job that needs your immediate attention: retirement planning. But let’s just be blunt, women are almost …
A look at three other long-term care (LTC) coverage options. Traditional long-term care insurance has grown costlier—and some of those who buy it may never need the coverage. Are potentially cheaper, flexible options available? Yes. 1 Hybrid life insurance policies with LTC riders. These life insurance policies have LTC coverage options available for a fee that you can use if …
What influences your spending choices? Social media can pressure you to spend more than necessary. We have all seen our friends post images of an expensive dinner,a pricy resort stay, a new car, maybe even their first condo or house. Seeing these message can influence your spending habits. Millennials are known for frugality, but the reality may differ. An American …
