Executives & Business Owners
How to Use Net Unrealized Appreciation (NUA) for Tax Savings with Employer Stock in Your 401(k)
If you own your employer’s stock in your retirement plan and change jobs, don’t be too quick to roll that account into an IRA. If you do, you may lose one of the best tax benefits available to high wage earners. Hi, I’m Chuck Lewandowski, CERTIFIED FINANCIAL PLANNER™ professional. Before I entered the financial services…
Read MoreAre You Giving the IRS a Tip On Your Executive Compensation? Proactive Tax Planning for High-Earning Professionals
If you are a well-paid senior manager or business owner, it is crucial to ensure you only pay your fair share of taxes. No more and no less. As Morgan Stanley noted, “You must pay taxes. But there’s no law that says you gotta leave a tip.” So, what are the best ways to achieve…
Read MoreThe One Employee Benefit That Executives Should Not Overlook – Health Savings Accounts
Health Savings Accounts (HSA)- Treats Not Tricks We’re approaching Halloween and employee benefit enrollment season is just around the corner. If you’re a high wage-earning employee, you may be asked to choose among a dozen benefits to adequately cover you and your family for the next year. Most people that I know consider this process…
Read MoreThree Valuable Tax Planning Opportunities For Executives Nearing Retirement
Retiring? – Have You Thought About Taxes? If you’re a well-compensated executive or business owner thinking of retiring in the next 3 to 5 years, there are several commonly missed tax planning opportunities that you should consider now to possibly enhance your retirement income and savings. I’m Chuck Lewandowski, CERTIFIED FINANCIAL PLANNER™ professional and I…
Read MoreHow Do You Create a Retirement Paycheck? The Question Most Executives Ask About Retirement Income
Retirement Questions – Create Your Retirement Paycheck If you’re within a few years of retirement, you may be sorting through several questions as you move towards your “Work Optional Years”. These may include What does my social circle look like now that I’m not working? How will I spend my time? Should stay in my…
Read MoreConsidering a Small Business Retirement Plan? Don’t Forget These Tax Credits!
If you’re considering a new retirement plan for your small business in 2024, Congress has provided tax credits for eligible plans that can offset your startup costs. The tax act, SECURE 2.0, provides for a “Startup Credit” and an “Employer Contribution Credit”. Each credit may reduce your startup or ongoing out of pocket costs.
Read MoreTax Planning for Executives – Avoiding the Taxation Mess
Hello everyone! Spring has arrived in full force in Florida. We’ve gone from allergy season to the dry season in a matter of weeks. The always wonderful Love bug season is just around the corner! And of course, we just completed tax season. For the successful executive, both tax season and love bug season have…
Read More3 Tax Facts That Executives and Business Owners Need to Know About SECURE 2.0
TRANSCRIPT: Happy New Year Everyone! While many of us took advantage of some downtime during the Holidays, our elected representatives in Congress passed an 1800-page tax bill known as SECURE 2.0 which contains several items that well compensated executives and business owners should understand as they manage their finances over the next several years I’m…
Read MoreRetiring Soon? How to Avoid the Taxation “Death Star”!
Creating a Personal Paycheck If you’re within 5 years of retirement, it’s important to take an inventory of the assets that will provide a “personal paycheck” during your “work optional “years. You probably own a traditional IRA or a 401k account with a previous employer. You may also have a Roth IRA and maybe a…
Read MoreFive Mistakes You Want to Avoid Before Retirement
Preparing for retirement is more than selecting a date. Here are 5 mistakes that executives can make before they retire.
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