When analyzing your portfolio, there are three variables that you need to take into account: Return, Taxes, & Inflation. Return on your investments is fairly self-explanatory. Obviously return is a function of risk assumed, all things else being considered. The problem is, return is often the only hurdle that people attempt to solve for. Taxes… Continue reading The Impact of Taxes & Inflation
Most tax forms just look overwhelming, don’t they? It can take a few minutes to get your eyes oriented to figure out what it is you're looking at – not to mention the confusing language! For those who use online return preparation tools or use a personal tax preparer, it might have been a while… Continue reading An Overview of Form 1040
As people retire and most likely move to a more budget conscious style of life, every expense matters. Few expenses matter more than taxes in retirement. The last thing you want is for your hard earned assets to be nickel and dimed away from you when you need it most. Don’t worry though, your tax… Continue reading Automatic Tax Breaks for Retirees
Retirement planning gimmicks are everywhere. Turn on the TV, read a magazine, or search the internet, there are an endless numbers of calculators, estimators, and "expert" advice. The truth is, as the burden of retirement savings has shifted from employers to the workers themselves, investors need quantifiable answers to some difficult questions. How much money… Continue reading How To Set A Retirement Savings Target
A tax schedule is a form that the IRS requires with your income tax return if you have certain types of income or deductions. While the Form 1040 is the main body of your return, the schedules provide useful and necessary information for your complete taxable picture. Let's take a look at the most common… Continue reading An Overview of the Basic Tax Schedules
For a lot of retirees, having a meaningful hobby after your career has ended is a crucial part of an enjoyable retirement. It's a concept we talk about a lot with our clients: It's more than what you're retiring from, it's what you're retiring to. For some, their hobbies can turn into more than just… Continue reading Is Your Hobby a Business?
When facing an unexpected cash crunch, most people look to their retirement accounts for help. It can be tempting, but if you’re under the golden age of 59 ½, there are some things you’ll need to consider. Most early distributions come at a cost - the IRS levies a 10% penalty in addition to the… Continue reading Withdrawing from a 401(k) before 59 ½