Leveraging large tax credits to improve your retirement can be a great idea. If solar makes sense for your home, then now is a good time to do it. Back in 2015, Congress extended the solar panel tax credit – also called the investment tax credit (ITC) for five more years. This credit makes solar […]
Managing Internal Capital Gains Exposure
Capital gains exposure can add up if you’re not careful. The best way to avoid them is to be mindful of where you’re vulnerable when you’re building your portfolio. Capital Gains Taxes – What they are, and how they happen Internal capital gains are an increase in the value of an investment that makes […]
Medicare Taxes for High-Income Earners
Medicare offers additional medical coverage for eligible Americans who are (mostly) 65 or older. It’s paid for by taxes, and higher income-earners face some additional taxes for Medicare services. You know that Medicare costs come out of your paychecks, but did you know your investments are also affected? Earnings above certain thresholds get taxed […]
Did You Receive a High Tax Bill? How to Avoid it Next Year
The Tax Cuts and Jobs Act probably made your tax bill look a little different this year. But if you ended up owing a lot more than you were expecting, you’re not alone. Changes in deductions and tax credits had a massive impact on some taxpayers. If you are one of them, there are steps […]
Mega Roth Conversions
Mega Roth Conversions – The Basics If you want to get more money into a Roth IRA than what you can normally do, then you may want to think about doing a large, or mega, Roth conversion with after-tax money. This mega Roth conversion strategy could allow you to add an additional $36,500 into a Roth […]