Skip to main content

Navigating the Complexities of Inheritance Tax: Strategies for More Efficient Wealth Transfer

When it comes to leaving a legacy, few topics are as emotionally charged and complex as inheritance tax. As you plan to pass on your hard-earned wealth, the last thing you want is for your loved ones to face significant financial challenges. Unfortunately, inheritance tax is a reality that can diminish the wealth you intend to transfer. However, with thoughtful planning and strategic foresight, it is possible to navigate these complexities and manage the impact on your legacy.  Let’s explore some key aspects of inheritance tax as well as some practical strategies to help you transfer your wealth more efficiently.

Continue reading

Year-End Charitable Giving: 5 Strategies to Know

Support Your Favorite Charities While Potentially Reaping Tax Benefits

Taxes are an unfortunate fact of life. However, if you develop a strategy to reduce your total taxable income, you may see a marked decrease in the amount you owe each year – which can be a welcome outcome as we approach the holiday season and begin spending more on gifts, travel, and entertaining. If you’re hoping to reduce your taxable income this year, you might be happy to hear that you can enjoy possible tax benefits while also making a positive difference in other people’s lives. To do so, you need to select the right year-end charitable giving strategy. Read on for five such strategies that may fit your needs, both from a philanthropic standpoint and as smart tax planning.

Continue reading

High-Net-Worth Estate Planning: Tax-Efficient Tips

Tax-Savvy Moves to Protect Your Legacy

Estate planning is a critical aspect of financial management, especially if you are a high-net-worth individual. To optimize your financial legacy while complying with legal requirements, it is essential to consider tax-efficient strategies. By implementing effective high-net-worth estate planning techniques, you may minimize tax liabilities and ensure a smooth transition of wealth to future generations. Below, we will explore a comprehensive range of tips for tax-efficient estate planning that may help you maximize the preservation and distribution of your assets.

Continue reading

Choosing the Best Retirement Plan for Your Employees

Review the Options to Determine the Best Employer-Sponsored Plan for Your Company

As a small business owner, you understand all the complexities that come with being responsible for not only yourself, your company, and your family – but for your employees, as well. While it’s easy to get bogged down in the day-to-day details of running your business, periodically taking stock of your company’s overall financial health is a great way to ensure that your business is in a position to thrive now – and for years to come. Consider the options, pros, and cons when trying to choose the best retirement plan for your employees.

Each day, you make decisions that affect your business. How can you be sure that you’re keeping the big picture in mind and that each decision you make is a sound choice for your bottom line and long-term business goals? Below we’ll share a simple but effective financial health checklist for your small business.

Continue reading

Small Business Financial Health Checklist

How to ensure your business remains strong now and into the future

As a small business owner, you understand all the complexities that come with being responsible for not only yourself, your company, and your family – but for your employees, as well. While it’s easy to get bogged down in the day-to-day details of running your business, periodically taking stock of your company’s overall financial health is a great way to ensure that your business is in a position to thrive now – and for years to come.

Each day, you make decisions that affect your business. How can you be sure that you’re keeping the big picture in mind and that each decision you make is a sound choice for your bottom line and long-term business goals? Below we’ll share a simple but effective financial health checklist for your small business.

Continue reading

Planned Upcoming Tax Changes for 2021

The 2021 Tax Year Is Bringing Some Surprises With Itbut Here’s What We Do Know

Recently, there has been a lot of discussion about the tax plan put forth by the Democrats and the corresponding changes it may bring. While there is still a lot that is unknown, some of the upcoming tax changes are certain and can begin being planned for. Below is a summary of some of the items that will change in the 2021 tax season.

Financial planning provides a plethora of benefits; however, it also comes with many challenges considering it’s impossible to completely prepare for an unpredictable future. Despite the impossibility of being able to fully prepare for what the future holds, a smart financial plan can still provide you with the flexibility and strong financial foundation you need to respond to whatever it may bring.

Continue reading

Understanding the Most Common Types of Employee Equity Compensation Plans

What You Need to Know About These Valuable, Complex Benefits

Equity compensation can be an incredibly valuable employee benefit, but it can also be a complex subject matter to get your arms around.  Not only are there multiple types of equity compensation, but each has unique characteristics you should keep in mind in order to maximize its value.

Below, we’ll discuss the most common types of equity compensation and dig into the potential challenges and unique benefits of each one so that you can make smart decisions for your financial situation – and avoid costly mistakes, too.

Continue reading

Small Business Employee Compensation Packages: Choosing What’s Right for You

A Written Compensation Plan is Vital to Your Company’s Success

If you’re a successful small business owner, you likely have a solid business plan in place. However, if you’re like many entrepreneurs, you aren’t as adept when it comes to devising employee compensation packages. It can feel a bit like an afterthought when you’re focused on launching or growing your business, but determining the right compensation package may be critical to your long-term success. After all, the right compensation can assist you in recruiting top talent and in retaining your top performers.

As you consider your options, do so with your company’s overall strategy and values in mind. You want to be able to compete for the best talent, but without overextending your resources. Below we’ll discuss a few ways you can get started.

Continue reading

Tax-advantaged Savings Accounts for High-Income Earners

Saving for retirement requires planning and, to some extent, strategizing on a multitude of levels, this is especially so if you’re a high-income earner. If you’re a high-income earner, in particular, one of the most important strategies you’ll need to implement is a tax strategy that maximizes the benefits provided by different types of retirement savings accounts.

These accounts encourage individuals and households to save toward their retirement goals. For more affluent households, however, there are more options available regarding which accounts to allocate savings to. So, the question becomes, how can you maximize the tax benefits of various retirement savings accounts when your high-income status allows you the ability to contribute to several different accounts simultaneously? We’ll discuss your options below.

Continue reading

  • 1
  • 2