As CPAs, we encounter our clients' life events many times, while each client encounters them just once. This experience allows our team to compare, learn, and develop tools to give expert advice to all our clients. When it comes to transitioning to retirement, Social Security...
Retirement is an exciting time. After a lifetime of hard work, you’re finally ready to focus on family, travel, and hobbies. But just because the work stops doesn’t mean taxes do. When your income is fixed, taxes can take on a whole new hue. Whether...
Deciding when to claim Social Security retirement benefits is probably one of the most important financial decisions you will make in your lifetime. The stakes are high. If you claim too early, you’re signing on to receive reduced benefit checks for life. But if you get the...
Tax diversification is the practice of saving for retirement through a variety of retirement vehicles with different tax treatments. Instead of putting all your eggs in one basket, you spread your savings out among types of accounts to minimize your tax bill as much as...
There’s still time to shave a few bucks off your 2019 tax bill — if you act quickly. The 2018 tax season came with harsh lessons for some taxpayers who didn’t properly adjust their plans for the Tax Cuts and Jobs Act. This overhaul of the tax...
Relocating for retirement and trimming the budget line for taxes are among the many tasks pre-retirees and retirees have on their to-do lists. Many people consider checking off both items by moving to a state with low taxes or tax breaks that specifically benefit older...
Hastily exiting your career before the time is right can have a lasting negative impact on your retirement. Apprehensive workers unsure if it’s time to retire might benefit from one more year of work. If there is any doubt about your ability to retire, consider...
The merger-and-acquisition market for private companies has been very active. The activity should remain high as aging Baby Boomers look to retirement, many of them business owners for whom selling a closely held business is a key part of their financial plan. A great majority of...
When it comes to saving for retirement, the clock is ticking. To illustrate the value of time, let's consider three Roth IRA investors. Kate, Derek, and Jane all decide to open Roth IRAs to supplement their other retirement accounts. Each investor hopes to build this account...
I love it when clients ask me questions, especially in advance of taking action. Some ask many questions throughout the year, while others may wait for tax time. Many business and individual clients rely on their CPAs to make sense of tax implications and all...