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Articles tagged with: tax planning

Are Investment Advisory Fees Tax Deductible?

03 March 2017

Are Investment Advisory Fees Tax Deductible?

It’s tax season again, and a question we get from a number of clients after receiving their year end statements is, “Are my investment advisory fees tax deductible?” And the answer is an equivocal, “It depends.”

Congress did grant a tax deduction for certain investment expenses, but with anything to do with the tax code, the devil’s is in the details. Not to worry though, we’ll use this opportunity to settle the issue no matter your situation.

Why Would I Want to Defer Compensation?

23 November 2016

Why Would I Want to Defer Compensation?

An old proverb states “A bird in the hand is worth two in the bush” suggesting one should be content with what they have (or will have shortly) rather than roll the dice on the unknown.  One who wholeheartedly believes in this proverb may react swiftly and decline to enroll in their employer-offered deferred compensation plan.  This could be perceived as a rational decision; why would you want to receive a portion of your salary or bonus in 5+ years when you can receive it now?   What benefits could there be to electing to give up your bird, or compensation, and “roll the dice” on the unknown?

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:

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