#tax-planning

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Make tax-savvy new year's resolutions to cut stress and save money

Taxpayers can save money and reduce stress in 2025 by improving tax practices now.
#financial-advice

Opinion | Higher Taxes Are on the Horizon. Don't Let Them Spoil Your Retirement.

Roth I.R.A.s may protect from future tax increases, crucial in light of rising federal budget deficits and potential tax reforms.

Why You Should Invest in Good Financial Advice Before Moving To France - The Good Life France

Getting professional financial advice is crucial for a smooth transition when moving to France to navigate complex tax systems.

I received an inheritance at a young age and am curious if a Roth or a traditional 401k would be better for me

Inheriting a windfall requires careful planning to navigate tax complexities and maximize benefits.

I'm 62 and worth millions - how can I give more to my kids without getting slammed on taxes?

Strategic gifting can be planned to minimize taxes related to death and gifts, as demonstrated in a recent financial advice scenario.

Opinion | Higher Taxes Are on the Horizon. Don't Let Them Spoil Your Retirement.

Roth I.R.A.s may protect from future tax increases, crucial in light of rising federal budget deficits and potential tax reforms.

Why You Should Invest in Good Financial Advice Before Moving To France - The Good Life France

Getting professional financial advice is crucial for a smooth transition when moving to France to navigate complex tax systems.

I received an inheritance at a young age and am curious if a Roth or a traditional 401k would be better for me

Inheriting a windfall requires careful planning to navigate tax complexities and maximize benefits.

I'm 62 and worth millions - how can I give more to my kids without getting slammed on taxes?

Strategic gifting can be planned to minimize taxes related to death and gifts, as demonstrated in a recent financial advice scenario.
morefinancial-advice
#investment-strategy

I invested over $55k in Tesla's stock - now it's worth $550k and I'm looking for the best tax strategy for selling my position

Investors should celebrate gains while planning for tax implications, particularly in Canada where capital gains are partially taxable.

Shape Up Your Personal Finances for a Fantastic Year-End - San Francisco Bay Times

Conduct early tax planning to avoid future surprises and maximize deductions.
Ensure retirement accounts are on track with maximum contributions and necessary distributions.
Align investment strategies with personal financial goals and adjust as needed.

An ex-Meta employee and FIRE blogger explains how he used the 'mega backdoor Roth' strategy that allows high-earners to bypass Roth IRA income limits and contribute up to $69,000 in a 401(k)

Andre Nader built a seven-figure portfolio by leveraging tech income and maximizing savings through index funds and tax-advantaged accounts.
He used a strategy known as 'mega backdoor Roth' to maximize his tax benefits.

I invested over $55k in Tesla's stock - now it's worth $550k and I'm looking for the best tax strategy for selling my position

Investors should celebrate gains while planning for tax implications, particularly in Canada where capital gains are partially taxable.

Shape Up Your Personal Finances for a Fantastic Year-End - San Francisco Bay Times

Conduct early tax planning to avoid future surprises and maximize deductions.
Ensure retirement accounts are on track with maximum contributions and necessary distributions.
Align investment strategies with personal financial goals and adjust as needed.

An ex-Meta employee and FIRE blogger explains how he used the 'mega backdoor Roth' strategy that allows high-earners to bypass Roth IRA income limits and contribute up to $69,000 in a 401(k)

Andre Nader built a seven-figure portfolio by leveraging tech income and maximizing savings through index funds and tax-advantaged accounts.
He used a strategy known as 'mega backdoor Roth' to maximize his tax benefits.
moreinvestment-strategy
#retirement-savings

Jill On Money: Year end money moves 2024

Plan year-end finances early by maximizing tax-saving opportunities.
Adjust your tax withholding and retirement contributions to optimize savings.

Tax tips for HENRYs: 5 end of year moves if you are High Earner Not Yet Rich

HENRYs struggle financially despite high incomes, due to costs of living, rising expenses, and a heavy tax burden.

Jill On Money: Year end money moves 2024

Plan year-end finances early by maximizing tax-saving opportunities.
Adjust your tax withholding and retirement contributions to optimize savings.

Tax tips for HENRYs: 5 end of year moves if you are High Earner Not Yet Rich

HENRYs struggle financially despite high incomes, due to costs of living, rising expenses, and a heavy tax burden.
moreretirement-savings

Farmers fearful of inheritance tax rises can act now to protect their legacy for the next generation - London Business News | Londonlovesbusiness.com

Farmers should proactively address potential increased Inheritance Tax liabilities stemming from changes to Agricultural Property Relief, effective from April 2026.

Taxable brokerage accounts: the best investment option for control freaks

Taxable brokerage accounts are versatile investment tools offering more flexibility and control than retirement accounts.
They allow investors to manage gains and losses for effective tax planning.
#retirement

Beware of This "Tax Torpedo" That Comes Along with Social Security

The Social Security 'Tax Torpedo' can unexpectedly increase retirees' taxes, diminishing their expected income.

The 15 Best Books on Tax Planning | Entrepreneur

Tax laws promote business and investment
Real estate offers significant tax shelters
Tax planning crucial for retirement savings

Beware of This "Tax Torpedo" That Comes Along with Social Security

The Social Security 'Tax Torpedo' can unexpectedly increase retirees' taxes, diminishing their expected income.

The 15 Best Books on Tax Planning | Entrepreneur

Tax laws promote business and investment
Real estate offers significant tax shelters
Tax planning crucial for retirement savings
moreretirement

Council Post: How To Maximize Tax Deductions As A Business Owner

Year-round tax planning is crucial for business owners to effectively manage and reduce their tax bills.
#personal-finance

My generous parents want to help save an pay for my children's college - is it better for parents or grandparents to own the 529 plan?

Complex rules surrounding 529 plans can complicate financial aid processes for families saving for college.

Tax Season in Canada

Take advantage of all available tax credits and deductions to reduce your tax bill and potentially increase your refund.
Stay informed about changes and updates to tax laws to ensure you're taking advantage of new opportunities.

My generous parents want to help save an pay for my children's college - is it better for parents or grandparents to own the 529 plan?

Complex rules surrounding 529 plans can complicate financial aid processes for families saving for college.

Tax Season in Canada

Take advantage of all available tax credits and deductions to reduce your tax bill and potentially increase your refund.
Stay informed about changes and updates to tax laws to ensure you're taking advantage of new opportunities.
morepersonal-finance
from New York Post
2 months ago

Prince Harry avoids paying tax on his $8.5M inheritance - here's how

Prince Harry's $8.5 million inheritance is tax-exempt due to estate planning by the Queen Mother.

I'm 56 and suddenly have $5 million in my 401(k) - how should I think about retirement?

Tax planning is essential as a 401(k) grows, especially for those nearing retirement.
Diversification and Roth conversions can help manage tax liabilities on significant 401(k) growth.

I'm 56 and suddenly have $5 million in my 401(k) - how should I think about retirement?

Diversification and strategic tax planning are crucial for managing a growing 401(k) as retirement approaches.
Avoid concentrating too much investment in a single company to reduce risk in a retirement portfolio.

Holding Onto Your Bitcoin: Don't Get Killed On Taxes

Keep detailed records of bitcoin transactions' cost basis for tax planning.
IRS closely monitors bitcoin transactions via exchanges and legal precedents.

Harness Wealth Raises $17M for its Tax Planning and Wealth Management Marketplace

The shift in perspective on work and income generation
Harness Wealth offers digital wealth management and tax planning for builders
#deductions

Tax checklist: 4 tips to boost your tax return before June 30

Take advantage of higher tax rates before June 30 to maximize deductions and potential savings.

Tax tips to act on how to maximise your cash back and avoid ATO hit list

Even close to the end of the financial year, there are last-minute tax planning opportunities to maximize refunds.

Tax checklist: 4 tips to boost your tax return before June 30

Take advantage of higher tax rates before June 30 to maximize deductions and potential savings.

Tax tips to act on how to maximise your cash back and avoid ATO hit list

Even close to the end of the financial year, there are last-minute tax planning opportunities to maximize refunds.
moredeductions
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