5 Steps for Handling an Unexpected Tax Bill
Getting stuck with an unexpected tax bill can be stressful and unsettling. Here are five ways to reduce your tax bill to a more manageable size.
Filing taxes? Here's your tax bracket.
The seven 2022 tax rates themselves didn't change (they are the same as those in effect for the 2021 tax year); however, the tax bracket ranges were modified based on inflation. Because of this, it's possible you could be in a different tax bracket for 2022 than the last time you reported your taxes, even if your income has not changed.
How Tax-Loss Harvesting is like Baseball and Basketball
Tax-loss harvesting is the process by which an investor sells an investment held in a taxable brokerage account at a loss and buys a similar investment in order to participate in the inevitable market recovery. By selling at a loss, the investor gets to enjoy a tax benefit.
Year-End Planning Strategies
It’s that time of year again and we know what’s on your mind. No, not exercising off the extra five pounds from this year’s Thanksgiving feast. It’s time for year-end planning to set yourself up for success in 2022. As you have heard us say countless times before, so...
Strategies to Reduce Taxes in Retirement
How to invest tax efficiently in the higher tax environment with the looming tax changes The debate about tax policy and infrastructure spending continues to heat up in Washington. President Biden is close to getting his spending bill passed in Congress and as a...
1031 Exchange: How to Reduce Taxes When Selling Investment Real Estate
Investment real estate is a wonderful way to build wealth over time. This is a strategy that has been successful for many of our clients over the years. There are many benefits to owning real estate investment properties. These include the ability to create a passive...