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Articles tagged with: tax planning

Health Savings Accounts (HSAs)

27 October 2016

Health Savings Accounts (HSAs)

The deadline for 2017 benefits enrollment is approaching quickly for many employees.  More and more employers have started to offer high-deductible health insurance plans in addition to the traditional HMO or PPO plans.  You can set up health savings accounts (HSAs) only if you choose one of the high-deductible health insurance plans instead of the traditional HMO or PPO health insurance plans with co-pays.  What do you need to know about HSAs in order to make a wise decision for yourself and your family?

Saving for College

28 September 2016

Saving for College

As the former President of South Africa and Nobel Peace Prize recipient, Nelson Mandela, once said: "Education is the most powerful weapon which you can use to change the world." And even while obtaining an education is integral to our world, planning for a child’s education can be an exciting, yet daunting task. Thankfully there are some tax-advantaged strategies you can consider:

To Rollover or Not Rollover Your 401(k) - It Depends

30 April 2016

To Rollover or Not Rollover Your 401(k) - It Depends

One of the biggest decisions many of our clients face is what to do with their 401(k) plan when they leave their employer. There is no clear cut answer as to whether you should roll over your 401(k) plan to an IRA, another employer’s 401(k) plan, or simply to leave it where it is, because it involves several different factors, including long term investment costs and the availability of investment options within the plans. Both can impact the long term performance of your retirement plan. However, the most critical factor that can have a big impact, both short and long term, are the tax implications of a rollover.  Understanding these implications is essential before making any decision regarding your 401(k) plan.

Here are some of the more common tax complications that arise from a rollover:

Donor Advised Funds (DAFs) - a Simple, Smart & Meaningful Way to Support Your Favorite Causes and Charities

19 October 2015

Donor Advised Funds (DAFs) - a Simple, Smart & Meaningful Way to Support Your Favorite Causes and Charities

Donor Advised Funds can be set up easily to accomplish both tax savings and charitable giving goals.  Most people think they need to have a big sum of money before considering setting up their own family charitable fund.  But Donor Advised Funds are the most popular charitable vehicles for donors at many levels of wealth.  You can start your own donor advised fund with as little as $10,000.  I generally recommend a minimum of $50,000 to my clients if they plan to request grants from the Donor Advised Funds to their charities within a short period of time, however.  I would like to discuss how to use DAFs in various situations in this article.

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