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Donor-Advised Fund vs. Direct Giving: Which Tax Strategy Makes More Sense?
Donor-Advised Fund vs. Direct Giving: Which Tax Strategy Makes More Sense? If you give to charity regularly, how you give matters almost as much as how much you give. A donor-advised fund can dramatically change your tax picture compared to writing a check directly to a nonprofit, but it’s not the right move for everyone.…
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The Benefits of Integrated Financial Planning and Tax Planning
The Benefits of Integrated Financial Planning and Tax Planning Many people think of taxes as something to deal with once a year. Financial planning, on the other hand, is often viewed as a separate process focused on investing, retirement, and future goals. In reality, these two areas work best when they are connected. That is…
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How to Avoid Taxes on RMDs in 2026: 7 Proven Strategies
How to Avoid Taxes on RMDs in 2026: 7 Proven Strategies Required minimum distributions (RMDs) have a way of arriving at the worst possible time. You’ve spent decades building a retirement account, and then the IRS requires you to pull money out whether you need it or not, adding it straight to your taxable income…
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Tax Planning Strategies to Consider Implementing This Year
Taxes affect nearly every part of your financial life. Yet many people only think about them when filing season arrives. By then, most choices are already locked in. That’s why taking action earlier in the year can make a meaningful difference. Thoughtful tax planning strategies can help individuals and business owners keep more of what…
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2026 Tax Brackets: What You Need to Know for Your Tax Planning
The 2026 tax brackets are based on the United States’ progressive tax system, which means that as your income increases, different portions of it are taxed at progressively higher rates. Imagine the tax system like a staircase made up of buckets. Each step or “bucket” can hold only so much of your income before it…
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How the New Tax Law Impacts How Social Security Benefits are Taxed
If you’ve ever felt frustrated by why Social Security benefits are taxed, you’re not alone. It can feel unfair, after all, we all pay into Social Security with after-tax dollars via FICA taxes throughout our working years, only to have those benefits potentially taxed again in retirement. Recent tax law changes from the One Big…
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3 RMD Tax Strategies to Protect Your Retirement Savings
3 Ways to Reduce Taxes on RMDs in Retirement As you approach retirement, Required Minimum Distributions (RMDs) can become a major tax concern. If you’ve saved diligently in pre-tax retirement accounts—like a 401(k), 403(b), or traditional IRA—these forced withdrawals can push you into a higher tax bracket, increase taxes on your Social Security benefits, and…
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The Role of Comprehensive Tax Planning in Reducing Financial Stress
Did you know that about eight in ten Americans are stressed out over money? It’s an unfortunate reality, but it doesn’t have to be as challenging as it currently is. Why? One of the biggest contributors to financial stress aside from getting by between paychecks is tax planning. Many Americans just don’t know what to…
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Happy Tax Planning! Check these 5 things off your list before December 31
The end of November and December always seems to fly by in a whirlwind of activity. Between holiday shopping, festive gatherings, and end-of-year reflections, taxes might be the last thing on your mind. But for those of us in the tax and tax planning professions, this season isn’t just about decking the halls—it’s about taking…
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The 2 Goals of Tax Planning
The end of summer is fast approaching. And while no one wants to say goodbye to long days and relaxing getaways, the time has arrived to get back to school, back to work, and, at least in our case, back to some serious tax planning. For many taxpayers, however, the whole idea of tax planning…
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Should You Keep Your Mortgage for Tax Benefits?
Have you ever wondered whether keeping a mortgage just for the tax benefits is a smart financial move? It’s a question that often floats around in personal finance discussions, but the answer might surprise you. Short answer: No, you shouldn’t cling to a mortgage solely for the tax savings it might offer. Why? Well, let’s…
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Simplifying Tax Payments: A Step-by-Step Guide
Navigating the complex world of taxes can be challenging for many individuals and businesses. With numerous forms, deadlines, and ever-changing regulations, making tax payments to the state or federal government used to be a perplexing task. Taxpayers had to fill out lengthy paper forms and then write out checks, which could be prone to errors…
Tax Planning
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