Understanding different types of homeowners insurance
Different circumstances call for different types of homeowners insurance coverage. There are eight options for homeowners insurance available and you want to ensure you have the appropriate coverage for your individual needs. Having the wrong coverage could leave you with catastrophic liabilities that could endanger your financial security or independence. HOMEOWNERS INSURANCE POLICY OPTIONS: […]
THE CORPORATE TRANSPARENCY ACT
Heads up to all US business owners, that includes you, real-estate LLC! The Corporate Transparency Act (CTA) is a law that requires certain types of corporations, limited liability companies, and other similar entities created in or registered to do business in the United States to report their beneficial ownership information to the Financial Crimes Enforcement […]
529 PLANS: WHAT IF THE BENEFICIARY DECIDES NOT TO FURTHER THEIR EDUCATION?
Opening and funding a 529 plan for beloved one to help pay for future educational expenses is a smart and caring gesture, but what if the beneficiary decides not to attend an educational institution after graduating high school? Don’t worry! Assets in 529 plans always belong to the account owner rather than the beneficiary and […]
Should You be Making Roth IRA Contributions or Conversions?
SHOULD I CONVERT TO A ROTH IRA? Sounds like a simple yes or no question, doesn’t it? If only that were true. The wonderful thing about Roth IRA accounts is they grow and compound into income tax-free dollars. The problem is you must pay taxes on the funds before they can be contributed to a Roth […]
ONCE-IN-A-LIFETIME OPPORTUNITY: IRA-TO-HSA TRANSFER
Did you know that once-in-your-lifetime you can convert dollars, which would inevitably be taxed when distributed from your Traditional IRA, to your Health Savings Account (HSA) where they’ll grow and be distributed tax-free? Sounds great, right? Here’s how… First, you must be HSA eligible and remain HSA eligible for at least 12 months. If […]
USING CHARITABLE REMAINDER TRUSTS TO REDUCE TAXES, GIVE TO CHARITY, AND PROVIDE INCOME.
Every year thousands of generous people leave a part of their final estate to worthy charities, leaving a legacy that will continue to help others after they have passed. Having taken care of their families, these Good Samaritans also help those less fortunate and in need of help and care. But what if there were […]
Warning for IRA Account Owners with Trust Beneficiaries
Using a see-through trust as a tax-deferred Traditional IRA beneficiary has steadily risen among estate planning attorneys. The benefits of using a trust as the IRA beneficiary includes: Avoids the problem of minor beneficiaries managing investments before their age of majority Protects a spend-thrift heir from self-harm upon the inheritance Protects a married child from […]
A Cryptocurrency Conversation
Bitcoin, Ethereum, Dogecoin– you might have heard about these crypto currencies recently and wondered what’s going on. We enlisted the help of Alex Strain of Bitwise Investments who arranged an interview with their Director of Research, David Lawant, to get a clearer picture of what is happening in the world of Crypto. If you don’t know what […]
DETERMINING YOUR LIFE INSURANCE NEEDS
Many families have a need for life insurance. But more times than not, they do not act because they are afraid of the process. Life insurance is a great tool for protecting heirs that depend on an income stream or to replace the economic value of a stay-at-home parent. But life insurance is not an […]
CASH FLOW & TAX PLANNING: MOVING TAXABLE ASSETS TO TAX-ADVANTAGED ACCOUNTS WITH UNCONVENTIONAL CASH FLOW PLANNING
What if you could transfer assets from your taxable individual or joint accounts into tax-advantaged retirement plans, Traditional IRAs, and Roth IRAs—all while saving taxes now and in the future? We help clients do just that. Over the past few years, we’ve had several clients with large taxable investment accounts that received major tax reductions […]
