It's essential to understand the tax implications of your retirement planning choices. If you haven't started saving for retirement, call the office and speak to a tax professional who will help you figure out a plan that works for you.
To learn more about these and other tax strategies related to wealth management, please call the office and speak to a tax professional who can assist you.
If you're a savvy investor, you probably know that you must generally report as income any mutual fund distributions, whether you reinvest them or exchange shares in one fund for shares of another. In other words, you must report and pay any capital gains tax owed.
Understanding marginal and effective tax rates is important for tax planning purposes; however, many taxpayers don't fully understand the differences. Let's take a closer look...
Many taxpayers take advantage of tax credits and deductions that reduce taxable income, such as the standard deduction, tax-deductible contributions to a retirement or pension plan, health savings account, tax credits for dependent children, and charitable contributions.