Posts filed under: Taxes

  • giving thanks
I love Thanksgiving week. Growing up as a kid, Thanksgiving week was a short week in school because we got two days off. Thanksgiving week reminds me of spending time with my grandpa, dad, and uncles going deer hunting. Sitting in a deer stand when it is -15 degrees for 8 plus hours may not sound......
  • free tax return
Tax day is quickly approaching. If you’ve procrastinated on doing your taxes, you still have through Tuesday, April 18 to get them done. Filing taxes can be a bit cumbersome, and if you are like me, you worry about making mistakes and the IRS coming after you. When my financial advisor told me there was......
  • roth recharacterization
In this post, I will discuss how converting a pre-tax account at the start of a new year to a Roth IRA provides a “free” look at the market over the course of the year. If the market does NOT perform well, you can institute what is called a Roth Recharacterization so you do not......
  • Tax planning
In last week’s post, I discussed tax planning throughout the year to maximize your take-home pay. Ultimately, you want to reduce your taxable income through tax-advantaged investments and ensure you are getting all other available deductions (home mortgage interest, children, etc.) to pay the least amount in taxes. Today, I’m going to throw a wrench......
Tax planning is something that you should be thinking about over the course of the year and not something you think about on April 17 when it is time to prepare your taxes. Most likely, it will be too late to benefit from any significant tax breaks if you wait until the last minute. In......