Advisor Tax Tips

Dealing with Capital Gains at Year End

Non-qualified accounts can be a frustrating experience for clients trying to invest and defer taxes. In this video we will discuss some ways to think about long term capital gains at year end. We will discuss: Why you would...

Roth Conversions

Does it make sense to pay taxes now in order to avoid them in retirement? It depends. In this video, we will discuss the reasons why a Roth conversion may or may not make sense. To do this right you need to consider: Saving Money and/or Additional FlexibilityPresent...

Year End Bonus

Some of your clients may be receiving year end bonuses this year and hopefully have decided to save at least part of it. In this video, we are going to look at a common question of shoring up an emergency fund vs investing for the long term and discuss an approach...

Trust but Verify

Here’s a news flash. Workers at the Social Security Administration sometimes make mistakes. It turns out that Social Security is actually pretty complex and even they have a hard time understanding all of the rules. Today I want to discuss a client situation that occurred recently with an SSN advisor.

Explaining Your Planning Process

You probably do great work on very complex client situations but the materials that prospective clients use to evaluate you may be so generic that they are almost worthless.

Life Transitions in Pre-Retirement

Life Transitions in Pre-Retirement

Let’s discuss how you can help married couples through different life transitions, starting in pre-retirement, with a focus on the Roth conversion as a way to strategically pay taxes now and avoid them later. Keep in mind that Roth distributions* avoid Federal taxes and are not included in the Social Security tax calculation.

Help Middle Income Clients Avoid this Social Security Trap

Help Middle Income Clients Avoid this Social Security Trap

In 1983, Congress passed a rule that made Social Security distributions taxable for the first time since it began. Up to 50% of Social Security could become taxable under a quirky formula if “combined income exceeds a threshold amount” which, at the time, was $25,000 for an individual and $32,000 for a married couple. These threshold amounts were never set to include an adjustment for cost of living increases.

Social Security and the Big Financial Planning Picture

Social Security and the Big Financial Planning Picture

The first Social Security tip I want to discuss relates to the bigger financial planning picture. It's easy for clients to think that Social Security is just a switch that can be flipped on when they are ready to retire, but we really need to convince them that this...