Posts Tagged ‘tax savings’
Are You Missing This 401k Strategy That Helps Professionals Save More For Retirement?
Cross Tested Retirement Plans allow professional business owners such as Dentists, Doctors, Attorneys, and CPA’s to save more for retirement and reduce taxes. These plans are most suitable for business whose owners are generally older and more highly compensated than other employees. They may be most appropriate for professionals who own their firm and are approaching retirement.
Read MoreAre You a Sole Proprietor? Which Retirement Plan is Best for You?
If you are a successful independent contractor, sole-proprietor, or gig worker, you have several options to save for retirement and reduce taxable income. SEP IRA and Solo 401(k) plans are designed to maximize retirement savings for the self-employed
Read MoreFour Investor Missteps to Avoid in 2021
It’s the time of year when 2020 financial statements and investment tax forms hit the mailboxes. These documents can tell stories of great financial success or terrible financial failure. However, once tears of joy or sorrow have been shed with your tax accountant, you must realize that these are backward looking records that may hold…
Read MoreThree Stimulus Benefits You Need to Know in 2021
Welcome to the Year 2021! The end of 2020 produced quite a bit of drama for many who follow our government and its impact on personal finances. After a great deal of mud wrestling, a bill was signed by the President that ultimately rewarded many citizens with stimulus checks. The checks were clearly the most…
Read MoreVideo: 4 Reasons Executives and Business Owners Should Consider a Health Savings Account
Video Transcript Charles J. Lewandowski CFP® (00:00): Welcome to the Prudent Retirement Planning channel. This channel is devoted to those of you contemplating retirement, visualizing retirement or dreading retirement. If you’re within 15 years of that day, this channel is for you. My name is Chuck Lewandowski. I’m a CERTIFIED FINANCIAL PLANNER professional and today…
Read MoreWhich Tax Saving Perk Do Executives Consistently Ignore During Annual Benefits Enrollment?
Joan Babab is a highly compensated Director at a large health care company. Her husband, Alex, also is at the top of the pay scale at his employer. They consistently fall into the highest tax brackets when they file their federal income tax return. Joan is very conscientious when she selects her benefits each fall. She…
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