Below you'll find a list of all posts that have been categorized as “Financial Planning”
Selling real estate can trigger significant tax consequences—both good and bad. Knowing the rules before you sell can help you maximize profits and avoid surprises. 1. Selling Your Primary ResidenceYou may qualify to exclude up to $250,000 in gains ($500,000 if married filing jointly) if you’ve lived in the home for two of the past five years. This can dramatically …
Investment gains are exciting—until tax season arrives and you see how much you owe. Many investors unknowingly pay more in taxes than necessary because they overlook key strategies. 1. Understanding Capital Gains 2. Dividends and InterestQualified dividends may be taxed at the lower capital gains rate, but non-qualified dividends and interest are taxed at ordinary income rates. 3. Strategies to …
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 …
