One of President Joe Biden’s key domestic policy priorities since taking office has been sweeping legislation to overhaul the nation’s aging infrastructure. In late August, the U.S. House of Representatives took action on the infrastructure plan, advancing a bipartisan $1.2 trillion infrastructure bill as part of a larger $3.5 trillion budget plan. This clears the …
A Roth conversion is a tax strategy that involves moving investments from a traditional IRA to a Roth IRA. With a traditional IRA, your contributions are made with pre-tax dollars. A Roth IRA, however, allows you to make post-tax contributions which may help you pay a lower amount of tax overall, especially if your investment …
You’ve done all the right things. You worked hard all your life and built a successful career or created a profitable business. You have saved and invested and met your financial goals. Now, how do you hang on to it? You need a plan to preserve the wealth you’ve worked so hard to build. You …
A small, largely unnoticed, tax law change included in the 2020 year-end COVID-19 relief bill signed into law by Congress includes a significant change to the tax code. This change could be a windfall for wealthy Americans and business owners who may be considering various life insurance products as a way to shelter assets and …
Recently Tax Savings Professionals had the opportunity to present a roundtable webcast: Current State of Affairs: Strategies for a Successful Tomorrow. Below is an edited transcript of this far ranging conversation about urgent topics many folks are concerned about today. Led by our own Ted Zamerski, CPA/PFS, CFA, CGMA, the conversation also features Brian Shey, …
The 2017 Tax Cuts and Jobs Act (TCJA) not only slashed individual and corporate tax rates, it also created valuable tax incentives for helping to revitalize local communities through a program that designates Qualified Opportunity Zones across the U.S. Here are the details, including how you can take advantage at tax time. Qualified Opportunity Zones …
We typically only think about taxes when preparing to pay Uncle Sam. Making small changes to how you look at and approach your finances and taxes throughout the year, however, can add up to big savings on your taxes. There are many strategies that can be used, but here are five just to get you …
The world has just suffered a sudden stop in economic activity unlike anything that’s ever been seen before due to the COVID-19 virus outbreak. With America now the global epicenter of the outbreak, and US infections still expected to rise, both business and social activity has come to almost a complete standstill. Schools and many …
John D. Rockefeller established the first family office in 1882 to manage his family’s wealth but much has changed over the last century. No longer are family offices and family office services reserved for just the ultra-wealthy. Rather, it is the goals and circumstances that dictate the need for family office services. You may ask …
April is right around the corner. And we all know April brings more than just spring showers. But what if, instead of owing money to the IRS, you received a refund? Fortunately, there are some simple strategies you can use to maximize your tax savings. Tax Loss Harvesting Tax loss harvesting is the selling of …
