Tagged with Tax Planning

TAKE ACTION ON WHAT YOU CAN CONTROL

TAKE ACTION ON WHAT YOU CAN CONTROL

I have often noticed that people spend valuable time worrying about things they cannot control.  In the financial arena this includes trying to predict what the stock market is going to do in the next day, week or year, how fast China will be growing, what interest rates will do, what the price of oil … Continue reading

WANT A SUREFIRE WAY TO MAKE YOUR MONEY LAST LONGER IN RETIREMENT?

WANT A SUREFIRE WAY TO MAKE YOUR MONEY LAST LONGER IN RETIREMENT?

Reduce taxes.  Most retirees admit that they did a poor job proactively managing taxes both before and throughout retirement.  In my experience, clients are not getting the advice they need in this important area of their financial lives.  At Innovative Wealth Strategists, we concentrate on tax planning heavily because we know how important it is … Continue reading

HOW YOUR CHILDREN CAN SAVE YOU MONEY

HOW YOUR CHILDREN CAN SAVE YOU MONEY

If you own a business and have children, you may be overlooking a valuable opportunity to reduce income taxes.  The basic idea is to shift income to your children and take advantage of their lower tax bracket.  In order to implement this strategy, you must first have a business that lends itself to hiring your … Continue reading

EVERYONE NEEDS AN ADVISOR

EVERYONE NEEDS AN ADVISOR

This article will be somewhat biased given the fact that I am a financial advisor.  Having said that, I truly believe if you can find a competent and trustworthy financial advisor, they can be worth their weight in gold. Many people mistake investment planning for financial planning. Investment planning is just one component of overall … Continue reading

THE COST OF WAITING

THE COST OF WAITING

In today’s busy world, people often are reacting to things that are urgent but not necessarily vital.  One of those vital areas is retirement planning.  We meet people every day that are within 5 years of retirement and still putting off planning.  I believe they do this because they think there is very little to … Continue reading

WILL YOU OUTLIVE YOUR MONEY?

As people enter retirement, the above question weighs on them. Most, if answering honestly, would say, “I am not sure”.  Some of the factors that influence the outcome are:  How long you are going to live?  What will inflation be?  How are your assets allocated and how much of your earnings do you get to … Continue reading

A TAXING TIME

A TAXING TIME

Tax rates are at historical lows with capital gains rates at 15% and ordinary income tax rates at 10-35%.  What a lot of people don’t realize is that in times past, capital gains rates have been as high as 77% with the top ordinary income tax rate as high as 94%.  Add to this estate taxes … Continue reading