It’s a popular time of year for annual job performance reviews and corresponding pay raises. Along with celebrating this good news, it’s wise to think about how that increase in income can impact multiple financial decisions. Certified financial planner Suzanne Himes, with Asset Planning Corporation, has some of the changes to consider when our paychecks…
PAUL FAIN: PLAN FOR THE BEST, PREPARE FOR THE WORST With year-end fast approaching, what is on your “to-do” list? Perhaps more importantly, what should be on your to-do list for the remainder of 2019? Plan for the best, prepare for the worst. At least annually, or as life circumstances change, review your various insurance…
INTRO: Tax season is in full swing and taxpayers are immersed in organizing their records and filing their returns. What forms do you need to have on hand to file an accurate tax return? Paul Fain, president of Asset Planning Corporation, joins us now with a guide to commonly used IRS tax forms. PAUL…
A viewer asks, “When is the best time to start taking Social Security?” Our moneyman, Certified Financial Planner™ Paul Fain joins us now with answers. PAUL, MAYBE WE SHOULD START BY REVIEWING THE EARLIEST AND THE LATEST THAT YOU CAN START SOCIAL SECURITY BENEFITS… Age 60: Widow/Widower Age 62: Reduced normal benefit…
Give Directly From Your IRA to Your Favorite Charity Background: In the year that a taxpayer reaches age 70-1/2, the IRS requires minimum distributions (RMD) to begin. If you do not need all of the RMD for living expenses, there is a provision which allows distributions to be made directly to a qualified charity thereby excluding…
Millennials fear their taxes. Four out of every five young adults say they worry about making a mistake on their 1040. We continue with more tax tips this week from our Moneyman, Paul Fain, president of Asset Planning Corporation. DO MILLENNIALS FACE A DIFFERENT TAX SITUATION THAN MOST FILERS? Yes in some…
With tax preparation in full season before the April 15th filing deadline, taxpayers might be shocked by the bottom line on their tax return. Our MoneyMan Paul Fain, president of Asset Planning Corporation, joins us now with some tax advice for your personal financial plan. IN GENERAL, DO MOST TAXPAYERS UNDER- OR OVER-WITHHOLD…
Doing Good GIVES You a Tax Break is a three-part series. Learn how being charitable can improve your tax situation in retirement! Watch Part 3 on Donor Advised Funds below. If you haven’t already, watch part 1 on Qualified Charitable Distributions here. To learn about a unique strategy for reducing the tax bill watch part 2 of the webinar series here. You can also check…
Doing Good GIVES You a Tax Break is a three-part series. Watch Part 2 on Bunching below. If you haven’t already, watch part 1 on Qualified Charitable Distributions here. You can also check out our recent blog about Required Minimum Distributions (RMDs) for background information. Next time, we will learn about how Donor Advised Funds can be used…
Learn how being charitable can improve your tax situation in retirement! Doing Good GIVES You a Tax Break is a three-part series. Watch Part 1 on Qualified Charitable Distributions below. You can also check out our recent blog about Required Minimum Distributions (RMDs) for background information. Join us next time to learn about a unique strategy to…