Contributing to Your IRA by April 15 Could Lower Your 2019 Tax Bill

The tax deadline is quickly approaching. Are you looking to lower your 2019 tax bill? Contributing to your IRA by April 15th could lower your tax bill for 2019. The annual contribution limits for IRAs (both traditional and Roth) for 2019 is $6,000 for any working individual under the age of 50. Those over the  Read more ➝

family of four reading a book around a christmas tree

How Can I Give More to My Loved Ones and Less to the IRS?

“It’s the holiday season! How can I give more to my loved ones and give less to the IRS?” I could not agree more! Let’s learn from 2 of my friends (hypothetical Mike and Donna). These examples apply to people who are still working and those already enjoying retirement. Solutions for High-Income Earners Donna is  Read more ➝


Direct Transfers vs. 60-Day Rollovers – Which is Better?

At some point in your life, you may want to transfer money from a retirement plan to an IRA. There are two well-known ways of doing this: a direct transfer or a 60-day rollover. Chances are, your advisor will suggest a direct transfer. It’s the simplest way to move funds between two accounts.  However, if  Read more ➝


Not All Investment Income Is Created Equal Because of Taxes: Case Studies

Earlier, we discussed how the 3 types of investment income can have a big impact on your taxes. Your knowledge or ignorance of these issues can have a major effect on your standard of living.  How? Let us take a look. Why the real income you make comes after taxes come out Taxes are a  Read more ➝