Deciding between a 529 plan and a Trump Account requires balancing specialized education savings with the financial flexibility and child ownership offered by the new Section 530A accounts. Choosing the right vehicle depends on your priorities regarding fund control and your child’s future path, provided your own retirement planning is already fully funded.
Most high-earning couples aren’t getting “bad” advice because their finances are too complex—it’s because different advisors handle taxes, investments, and income decisions in isolation, so nothing is coordinated into a single household plan. The result is timing mistakes (bonuses/RSUs), surprises from variable income being taxed together, and a slow accumulation of small errors that costs money, time, and stress.
Still only using a 401(k) or SEP? You’re probably getting crushed on taxes. If you’re earning over $300k and just using a SEP or maxing out a basic 401(k) for retirement, you might be overpaying the IRS by SIX FIGURES every year. And the worst part?You probably think you’re doing it right. Because somewhere along…
Happy Halloween Weekend. By now, you’ve likely seen that the House Ways and Means Committee released a draft of significant tax legislation. The proposed tax plan is not a treat and has many tricks contained inside the proposed bill. Today is the time to begin your 2021 Tax Planning. SCHEDULE A MEETING Tax planning…
Take a moment and Google #tranformationtuesday and the top two searches are for #transformationtuesday on instagram and tumblr. Click on either and you will see pictures of people documenting the transformation that they have made. Most of these are physical improvements. What I wonder is where is the #tranformationmoney hashtag. These would be the individuals…
Peyton Manning has a team to support him and a MVP teammate, so who is going to have your back as you get your game plan together for this super weekend? Never fear, your Life Planning Financial Advisor wingman has your back. It is 8:00am Friday morning and you better have your game plan together…