Will Tax Law Changes Increase Your Taxes?

Will you be paying more in taxes next year? Let’s ask the question in another way. Since politicians have taken aim at high earners: Are taxes going to rise for the wealthiest taxpayers? Clients usually ask, “How will this affect me?” Or, “Will I be ensnared by Congress’ definition of wealthy?” If proposed changes inContinue reading “Will Tax Law Changes Increase Your Taxes?”

7 Ways to Stay on Track and Meet Your Retirement Goals

Are you on track to retire comfortably? What are your financial goals? How much income will you need to generate each month when you have retired? What might be some of your longer-term goals outside the financial arena, but goals that would be aided by a larger pool of savings? Our regular check-ins are designedContinue reading “7 Ways to Stay on Track and Meet Your Retirement Goals”

Will you be paying higher taxes on your capital gains?

The short answer is probably “No.” The longer answer is, “I don’t know” because tax hikes proposed by the president may or may not be enacted into law by Congress. Last month, President Joe Biden unveiled The American Families Plan, which among other things, proposes to raise capital gains taxes on long-term capital gains—on theContinue reading “Will you be paying higher taxes on your capital gains?”

Avoiding 7 Retirement Traps

Hi Wealth Warriors!!! How is your fight for wealth going? Today I wanted to share some thoughts on some traps to avoid as you approach retirement. Some of the tips may be applicable at any stage of wealth building. You have saved and invested for decades and you are gearing up for retirement, or maybeContinue reading “Avoiding 7 Retirement Traps”

The American Rescue Plan – How will it impact you?

So, the next (final?) round of stimulus was signed into law by President Biden. Let’s dive in. The $1.9 trillion bill called the American Rescue Plan Act of 2021 includes stimulus checks, child tax credits, jobless help, vaccine-distribution money, healthcare subsidies, and aid for struggling restaurants. What’s not inside? A higher minimum wage.  Here’s aContinue reading “The American Rescue Plan – How will it impact you?”

IRS Outlines Changes to Health-Care Spending Rules Under CARES Act

Hi Wealth Warriors!!! This IRS update has similar content to a previous blog post that I made, but it does have some additional information. I was hoping that they would also extend the amount of time that you have to spend the FSA funds. Keep on Fighting for YOUR Wealth. The amended rules under theContinue reading “IRS Outlines Changes to Health-Care Spending Rules Under CARES Act”