Capital Gains vs. Ordinary Income – The Differences + 3 Tax Planning Strategies
Capital gains vs. ordinary income – do you know the difference in how they are taxed? If you are like many people, you may be wondering if recognizing capital gains can affect your ordinary income taxes or vice versa. Perhaps you’ve heard the phrase “long-term capital gains are stacked on top of ordinary income”, but […]
Gifting Money to Family Members Tax-Free: 5 Strategies to Understand (2025 Updates)
There are five key strategies about gifting money to family that you need to understand. Most people spend a good portion of their lives working towards financial independence. They enjoy it for some time. Then, many people start wondering what to do after they feel they have enough. The next question becomes, “what next?” They […]
Roth Conversion: Is it Right for You?
Do you feel confident you are minimizing taxes over your lifetime? If you are like many people, the answer is no. Most people are focused on today. They want to reduce taxes today, but fail to consider how much in taxes they may pay in the future. Roth IRA conversions can be an excellent strategy […]
Donor-Advised Funds: How to Use to Reduce Taxes and Give to Charity
Have you ever wondered if there was a better way to give? Do you get tired of tracking receipts, writing checks, and inputting credit card information on charity websites? I know I did. $100 here, $50 there, and by the end of the year, I’m trying to remember and track down the charities to which […]
2021 Year-End Tax Planning Checklist – 7 Important Steps to Follow
It’s hard to believe 2021 is coming to a close. With the end of year quickly approaching, it is your last chance to do end of year tax planning. I recommend doing tax planning earlier in the year as much as possible, but I recognize there might be a few things that require you to […]