Blog Tax Planning

2017 Key Tax Information

By Michelle / January 23, 2017 / Comments Off on 2017 Key Tax Information

It’s a brand new year and before you know it, it will be time to start working on your taxes. Whether you anticipate a refund coming and plan to file as soon as possible, or you’re going to wait until the last minute to delay paying a hefty tax bill, tax season always involves collecting necessary documents and…

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Proposed Taxes in 2017

By Michelle / December 21, 2016 / Comments Off on Proposed Taxes in 2017

Proposed Taxes in 2017 One of the biggest financial implications of the 2016 election outcome could be the potential effect on tax legislation.  2017 could be the first year of major tax reform in quite some time.  It remains to be seen if any of the potential changes being discussed have a chance to be implemented; however,…

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Don’t Roll Your Tax Refund Forward

By Michelle / February 18, 2016 / Comments Off on Don’t Roll Your Tax Refund Forward

Getting a refund this tax year? You might be planning to use this money like a bonus: buying things you need or want or even putting it into an investment account. However, many Americans choose to apply their refund to next year’s taxes. At first glance, it might seem like a sensible idea – prepaying…

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Where Your Durable Power of Attorney Won’t Work

By Ben Rickey / January 19, 2016 / Comments Off on Where Your Durable Power of Attorney Won’t Work

You’ve seen a qualified attorney and drafted up a Durable Power of Attorney so your loved ones can act on your behalf if you become incapacitated or disabled. You think everything’s set. But is it? A DPOA is a widely recognized and useful legal document, but it may not work in every situation. Social Security…

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Capital Gains – FAQs

By Matt Hargreaves / November 11, 2015 / Comments Off on Capital Gains – FAQs

What is a capital gain? A capital gain is the profit when you sell a capital asset, such as stocks, bonds, mutual funds or property. The profit is your gain over the original price you paid and you must pay tax on that gain. For example, if a stock is bought at $50 and later…

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Year End Tax Planning

By Michelle / November 9, 2015 / Comments Off on Year End Tax Planning

With the new year just around the corner, now is a great time to think about end of year tax planning. If any of the following apply to you, it might be a good idea to call and schedule a meeting with your advisor before the end of the year.  Thinking of a Roth Conversion? If you are planning…

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Bad News for Some Medicare Beneficiaries

By Michelle / November 3, 2015 / Comments Off on Bad News for Some Medicare Beneficiaries

According to the Social Security Administration, Medicare Part B premiums will be going up beginning January 1, 2016 for more than 7 million Americans. The reason for this increase has to do with the decision not to do a cost of living increase for social security in 2016. A provision in the law states that…

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Income in Retirement – Can it affect your Social Security Benefits?

By Ben Rickey / September 21, 2015 / Comments Off on Income in Retirement – Can it affect your Social Security Benefits?

These days, returning to work after retiring is a common trend. Whether you’re looking for an additional income stream to ease your finances into full retirement, or maybe you’re wanting to purse that dream career. Whatever your reason for re-entering the workforce, your Social Security, health insurance, and tax situation may be affected. Here’s some…

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Don’t Destroy Your Rollover

By Ben Rickey / February 20, 2014 /

When a person has company stock inside of their retirement plan that has significant appreciation, they need to understand the effect of Net Unrealized Appreciation. Simply put, Net Unrealized Appreciation, or NUA, is the difference between the basis, or what you paid for it, and the market value of those shares held in a tax…

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