Before taxpayers select year-end planning strategies, it’s important to first calculate their individual tax bracket. The marginal tax bracket will determine which strategies could be beneficial and drive all other financial planning decisions. Chris Hennessey discusses the importance of understanding income levels, while highlighting some ideas for clients in different tax brackets. Consider different strategies:
As investors review their investments in the coming weeks, retirement planning is a priority, especially those strategies that involve year-end deadlines. Chris Hennessey identifies several areas that require action before December 31. Retirees age 70½ or older must take required minimum distributions (RMDs) from individual retirement accounts or 401(k) plans by December 31. The Internal
The end of year is a critical time for financial planning — with many strategies having a December 31 deadline. Chris Hennessey explains why urgency about financial planning moves may be specific to the final quarter of the year, including: required minimum distributions, gifting, funding a 529 college savings plan, or reviewing asset allocations. Investors
Year-end tax planning is an opportune time to connect with clients and review some key topics, including IRA-required minimum distributions, tax-loss harvesting, and annual gifting strategies. 284778
The final quarter may be the busiest time for financial planning as clients focus on preparing for 2013. This year in particular has presented many challenges for clients as they try to grow and protect assets in the face of uncertainty around taxes and fiscal policy. Some key end-of-year strategies for consideration include: Contact clients