What is an IRA? An Individual Retirement Account, commonly known as IRA, is a personalized savings account for retirement. It offers many tax benefits such as tax-free or tax-deferred growth and allows individuals to put their money...
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Monday, November 20, 2023
As we approach the end of the year, the prospect of a new financial chapter beckons, and the timing couldn't be better for some strategic tax planning. It's a vital yet often overlooked opportunity to ensure you're not leaving money on...
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Monday, November 13, 2023
Retirement planning is a crucial aspect of financial well-being that requires careful consideration and long-term strategy. While most people are aware of the basics of contributing to retirement accounts through payroll deductions,...
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Monday, October 23, 2023
When losing a parent, emotions can run high, leaving little room for the complexities of practical matters. We've created an Estate Checklist to help you, the executor manage your parent’s estate, even if no pre-planning was done.
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Friday, October 20, 2023
A step-by-step guide to help you navigate the complexities of planning your parent's estate as their executor.
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Tuesday, September 19, 2023
Life in your 50s can be a wonderful time of reflection and anticipation. You've likely achieved significant success in your career or business, but retirement is on the horizon. Striking a balance between continuing your business...
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Tuesday, September 19, 2023
The entrepreneurial journey is a thrilling ride filled with challenges, triumphs, and personal growth. As a woman entrepreneur over 50, you've likely navigated numerous transitions and life events along the way. But now, another...
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Monday, September 4, 2023
What is an HSA? An HSA is a savings account used for health care expenses that can be set up by an employer or individual. Money is contributed into the account through payroll deduction or a deposit. There is no requirement to...
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Monday, August 28, 2023
Retiring and selling the business is a significant milestone for any entrepreneur. It's essential to carefully plan and execute the sale to ensure a smooth transition and a comfortable retirement. Here's a comprehensive guide to help...
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Monday, August 28, 2023
Retirement is an exciting time, but it can also be unnerving. If you want to be comfortable in your golden years, the perfect plan is essential. For most forward-thinking people, that includes financial strategies such as investing in...
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Wednesday, July 5, 2023
Retirement accounts play a vital role in securing your financial future, yet many don’t fully understand the intricacies and lesser-known aspects of these accounts. That lack of understanding can be costly.
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Wednesday, July 5, 2023
The financial advisor you choose to manage your assets can make or break your retirement. Vetting potential advisors before signing a contract will weed out planners who don't have the training, skills, or experience to make your...
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Thursday, June 1, 2023
A comprehensive retirement plan should help you create the retirement life you've been dreaming of but gaps in your plan can create significant problems. To help you avoid the most common (and costly) pitfalls of retirement planning,...
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Thursday, June 1, 2023
Do you feel like finding someone with the experience you need to make your retirement dreams is daunting? A quick internet search will return hundreds of listings, but it's up to you to figure out who you can trust. Online directories...
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Tuesday, May 2, 2023
Engaging a financial planner you can trust when you begin accumulating assets is the ideal situation. If you start early, you’ll have years to employ the tactics that are best for you and develop healthy habits. But once you have...
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Tuesday, May 2, 2023
Financial planners play a crucial role in helping you meet your retirement goals and manage your assets. But when should you hire one? The short answer is – the sooner, the better. Of course, the longer answer is a bit more...
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Monday, March 20, 2023
Both the “Inflation Reduction Act” and “Secure Act 2.0” were passed in 2022 and include several tax law changes for 2023 and beyond. Below is a summary of the provisions that are most likely to be impactful for...
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Wednesday, November 2, 2022
If you are a business owner do not miss this opportunity to claim significant tax credits which continue to be enhanced. The Employee Retention Credit (ERC) was created by the CARES Act and has been improved by each of the last three...
Read MoreIntroducing Bestgate Wealth by addressing the Who, the Why, and the How of Bestgate.
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Monday, February 1, 2021
Excess Deductions – Part 2 Now that you have read Part 1 of this article, regarding how your distribution from an estate could have resulted in an excess deduction, your next question might be, "How do I take the deduction?" You...
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Monday, January 18, 2021
Distributions From an Estate or Trust Have you received an inheritance? People often ask, "Is it taxable?" but rarely ask, "Is my inheritance a tax deduction?" When considering estates that mainly consist of real estate, such as the...
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Friday, November 20, 2020
If your business is not a partnership or S corporation, this may be the time to consider changing. If you are already a partnership or S corporation, we have good news! The IRS is now allowing a workaround of the $10,000 limitation on...
Read MoreWhat is a Roth? A Roth account is an extremely powerful tax tool, which could substantially reduce your lifetime tax burden. Your typical qualified retirement plans are pre-tax, such as when you contribute to your employer’s...
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Wednesday, February 26, 2020
The SECURE Act and use of Conduit Trusts in Estate Planning One of the biggest changes for 2020 is the SECURE Act. While not as big as the Tax Cuts and Jobs Act (TCJA), there are a number of changes that affect retirement and estate...
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