Getting married is one of the biggest decisions of any persons life. On this episode of Finance in a Flash, Chip interviews John to discuss making financial decision as newly weds.
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For better or worse, the financial decisions that young adults make have an ongoing impact on their lives. On this episode of Finance in a Flash, Chip and John give some advice to recent graduates on how to build a solid financial foundation.
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Making the decision to retire is a difficult one. On this episode of Chip and John discuss the moving parts, many unknowns and variables that are at play that can impact the outcome and ultimately the probability of a successful retirement.
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On this episode of Finance in a Flash, Chip and John discuss a few situations that might warrant selling an investment and some rules of thumb to consider when deciding on whether to sell an investment!
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Is it best to contribute to your company sponsored 401k plan, a Roth IRA, or a personal brokerage account? The answer depends on many factors. Chip and John hash out some of those factors on this episode of Finance in a Flash!
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When it comes to taking account distributions, which account is best - IRAs, Roth IRAs, Brokerage accounts or 401k plans? Chip and John discuss tax strategies and other considerations to take into account when deciding which account to take a distribution from!
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On this episode of Finance in a Flash Chip and John sit down to discuss, tax-efficient investing and the importance of “Asset Location.” Chip and John talk about which types of investments should be held in which accounts and why that may vary based on your stage in life.
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The SECURE Act 2.0 altered the onset of Required Minimum Distributions (RMDs) from age 72 to age 73. However, the law made no change to the Qualified Charitable Distribution (QCD) rules. So, while a RMD is not required until age 73, a taxpayer over age 70 ½ is allowed to distribute directly from their IRA to their favorite charity and avoid taxation.
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With the passage of the SECURE Act, distribution requirements for beneficiaries changed dramatically. Now, non-spousal beneficiaries are required to distribute the entire balance of an inherited IRA within 10 years! This could present an enormous tax burden for those beneficiaries.
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Normally, when someone mentions hybrids they are referring to fuel-efficient, money-saving cars. Like hybrid cars, the intention of hybrid long term care insurance policies is to provide cost-saving insurance coverage by combining both life insurance (or an annuity) with long term care coverage.
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Through hard work and sound financial planning, some find themselves in situations in which they are contemplating intra-family financial planning. That is, identifying financial planning techniques that can be used to financially strengthen the next generation—children and grandchildren.
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Beacon recently hosted a live webinar to update clients and friends about the financial markets and current economic conditions. We also provided some financial planning strategies to consider that could have a meaningful impact over the long term.
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Should you buy a rental property and if so, what information do you need for your taxes? When it comes to taxes, everyone wants to know what they can “write off” for tax purposes. In this article, we explore some of the tax benefits of a rental property.
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With nationwide college costs continuing to rise, it has never been more important for parents to develop a savings strategy to help cover these costs.
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When a loved one passes away, there are many financial decisions that need to be addressed. Anyone who has gone through this process will tell you that it can be overwhelming and stressful. For those who have, or will be receiving an inheritance, it is important to understand the tax implications, so you can make decisions that are consistent with your personal circumstances.
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In this web presentation, Erin Campbell, CPA/PFS, CFP® discusses various tax saving strategies to consider. Among them, she discusses tax-loss and investment gain "harvesting," qualified charitable deductions (QCDs), donor advised funds and Roth IRA conversions.
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This is a replay of our most recent webinar: "End of Year Tax Planning Strategies". During this webinar, Beacon’s team will provide important updates on 2021 tax laws and discuss several “Tax Planning Strategies” including: Tax-Loss Harvesting, Charitable Gifting, Roth Conversions, Maximizing Retirement Plan Contributions.
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In this webinar, Beacon Financial Strategies’ Certified Financial Planner Professionals discuss a number of charitable gifting techniques.
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Does the world feel out of control? There is so much uncertainty in the world and most investors feel powerless when it comes to investing and accumulating assets for long-term financial goals. And it is no wonder: some of the financial, economic and political challenges we are currently experiencing are on a global scale and unprecedented.
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Asset "location" - which types of investments should be held in which accounts -is different based on your stage in life. An accumulator and a retiree should have a different investment strategy.
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