6 Tax Secrets the IRS Doesn’t Want You to Know

IRS homepage to be used for information on taxes

The IRS knows that taxpayers research how to avoid paying taxes, so why would they make it easy? The power of the people resides in getting educated, and a financial advisor, Bountiful, UT based is ready to support you in your quest for knowledge.  When thinking of the Internal Revenue Service, what comes to mind? […]

Proactive Tax Planning for Wealthy Individuals

man at desk tax planning with related thought bubble

Wealthy people in Bountiful and surrounding areas need to think proactively about tax planning now more than ever. The current political situation is likely to lead to tax increases in several ways, including a hike in income tax rates and a jump in capital gains taxes. In addition, wealth tax exemption for estates might be […]

Potential Tax Law Changes Could Be On the Horizon

female scales of justice

The big questions: Did the Build Back Better Bill pass?  The short answer: No – it has not: it remains very much in question.  Americans are maintaining the status quo while patiently awaiting a reasonable tax reform. As of today, the extensive list of “Build Back Better” proposals were not passed as originally planned. The […]

Retiree Tax Document Checklist: What Documents Do I Need to File Taxes?

house with check marks

Filing taxes is a life-long responsibility; not one to fret, but one you can learn to enjoy and make beneficial to your retirement plans. There are numerous reasons that a financial advisor in Bountiful UT should assist. Similar to pre-retirement, your annual tax burden will be calculated based on your income, though there are different […]

A New Year’s Resolution: The Importance of Proactive Tax Planning

Every time you earn, spend, save, and invest your money there are tax implications. Almost every financial decision you ever make will be taxable. Instead of waiting until April 15th to find out how each decision you made in the previous year hits your tax return, you can take a more strategic approach that allows […]

How to Choose a Financial Advisor

selecting a financial advisor

A financial advisor is a catch-all term used to describe a variety of professionals. Financial advisors can serve individual clients across the spectrum of wealth, businesses of all sizes, and even institutions and government bodies. There are literally dozens upon dozens of different types of advisors, each with their own specialties, skills, and expertise. If […]

Don’t Overlook This Loophole When Tax Planning in Retirement

retirement tax planning

A realtor will always tell you it’s a great time to sell your home, but in this current environment, they may actually be correct. The housing market is on fire lately and homes are being snatched up well above asking price. With interest rates expected to remain low for the foreseeable future, sellers should have […]

Required Minimum Distributions (RMDs) and Your Retirement Tax Planning Strategy

older couple reviewing tax documents

One factor that retirees too often overlook when tax planning in retirement is the legislation surrounding Required Minimum Distributions (RMDs). When you retire, you must consider the pace at which you draw down your retirement accounts in order to give your savings the best chance of outlasting your retirement. Included in this consideration are questions […]

Understand How Your Retirement Assets Are Taxed

tax filing documents

Too many people overlook one big factor in planning for retirement – tax planning. When you think about retirement, you’re probably daydreaming about how you’ll spend your newfound free time and strategizing about saving to get to those goals. However, saving isn’t the only ingredient in the recipe for retirement success. Incorporating tax planning into […]

Tax Planning for the Four Stages of Retirement

retirement and tax planning documents

While many people tend to think of retirementas binary—either they are retired or they are not retired—retirement, in general, is usually better understood as something that occurs in distinct phases. Each of these phases presents unique financial challenges and opportunities that will need to be addressed throughout the process of retirement planning and tax planning. […]