Category - Taxes

1
Will Your Golden Years Be Golden?
2
Redirect Tax Savings to Fund Your Life and Legacy
3
Understanding the Estate Tax Return
4
Qualified HSA Funding Distribution
5
Minimizing Tax Liability and Our Investment Philosophy

Will Your Golden Years Be Golden?

In the past, most people relied on Social Security, pensions, and personal savings to see them through retirement. But with doubts about Social Security’s continued solvency, the decline of traditional pension plans, and savings rates at or near zero, this model just doesn’t work anymore. And simply contributing to qualified accounts (401(k)s, IRAs) isn’t enough. In this post, we’ll look at how to put together a comprehensive plan to help ensure your Golden Years are truly golden.

First, it’s hard to reach your destination if you don’t know where you’re going. Setting goals for retirement, while relatively simple, is critically …

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Redirect Tax Savings to Fund Your Life and Legacy

Who Pays the most Income Tax? Income taxes are a large part of a high-income earner’s budget. According to Pew Research Center, people with Adjusted Gross Income (AGI) above $250,000 in 2014 accounted for only 2.7% of all taxpayers. However, these individuals collectively paid 51.6% of all individual income taxes. Those with AGI below $50,000 accounted for 62.3% of all individual tax returns filed while only paying 5.7% of total income taxes. Rich Pay most taxes according to PEW research

Individual federal income taxes are calculated on a progressive schedule meaning higher tax rates apply as income rises above certain levels. For example, a single individual’s tax bracket …

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Understanding the Estate Tax Return

At 31 pages in length, the Estate Tax return is daunting. It becomes worse when you consider that the only time you will encounter it is when a loved one has recently died. But when you dig into it, filing the form doesn’t have to be terribly complicated.

Regarding its length, the good news is that many of the pages will probably not be relevant to the return you have to file. The form is actually only a 4-page return with 27 following pages of possible schedules to attach, mailing instructions, and other purely informational material.

Unfortunately, you have to …

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Qualified HSA Funding Distribution

Traditional IRAs and Health Savings Accounts (HSAs) have a lot in common with one another. Both give you a tax deduction when you fund them, both have limits about how much can be contributed each year, and both require you to pay income tax on any withdrawals after the age of 65.

There are also many differences that make HSAs more appealing, most notably, that you do not have to pay tax on withdrawals from HSAs for qualified medical expenses. In our article, “When Should You Stop Funding Your HSA?,” we show how “over-saving” for your healthcare expenses …

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Minimizing Tax Liability and Our Investment Philosophy

Our investment philosophy and portfolio management process are anchored by three foundational tenets –Discipline, Tax-Efficiency, and Cost Control. Experience tells us that we cannot control the daily movements of the market, but we can control these three tenets and, by doing so, strive to have a positive impact on your portfolio. With each investment change we contemplate, we ask ourselves: How will this decision impact our investment philosophy, and are we staying true to our foundational tenets?

We welcome you to our blog on Tax Efficiency, the third of a three-part series in which we expand …

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