Whether it’s expected or unexpected, the death of your spouse can be a traumatic event that’s difficult to process. We’re not here to tell you how to grieve, but there are several other things that our team can potentially help you with in that tough situation. One of them is tax issues to consider when your spouse dies.
The taxation on your investments depends on two main factors—the type of investment and how long you hold it. Let’s review how different investments are taxed.
The backdoor Roth and mega backdoor Roth might sound like special types of Roth IRA accounts, but they’re actually strategies that high income earners use to get more money into Roth accounts.
Episode 112 | Modern Wealth Management Director of Tax Corey Hulstein, CPA and Modern Wealth Management Managing Director Marty James, CPA, PFS
How can you pay less taxes over your lifetime? That’s a question everyone wants to know the answer to, but there isn’t a one-size-fits-all answer. Everyone’s financial situation is different. Along with explaining the importance of having a forward-looking tax plan as a part of your personalized financial plan, Corey Hulstein, CPA and Marty James, CPS, PFS joined Dean Barber on The Guided Retirement Show to share some tax planning tips.
Episode 110 | Michelle Cannan | Modern Wealth Management Managing Director and Head of Company Retirement Plan Services
As Modern Wealth Management continues to grow, one of the additions we’re very excited about is our office in Rochester, New York. Our Rochester-based team members specialize in 401(k) plans, which are typically people’s largest asset as they head into retirement. So, we figured it would be good idea to have Michelle Cannan, CPFA™, QKA®, QKC, our head of company retirement plan services and managing director of our Rochester office, join Dean Barber on The Guided Retirement Show to discuss how a 401(k) plan works and many other nuances about 401(k)s.
Here’s a list of a few tax strategies to consider that could improve your overall tax structure during your retirement years and for your beneficiaries inheriting your estate.
Managing Directors Dean Barber and Marty James, CPA discuss some key things to keep in mind while doing year-end tax planning for 2023.
Given the complexity of the tax code and how often it changes, the education never stops for our Director of Tax Corey Hulstein, CPA. He continuously studies the tax code to help our clients and prospective clients make informed decisions when it comes to tax planning. Today, Corey is going to educate us about tax credits for qualified tuition and related costs for eligible students on the Modern Wealth Management Educational Series. Let’s learn about the Lifetime Learning Credit and how it compares and contrasts to the American Opportunity Tax Credit.
Matt Kasper reviews Roth conversion decisions for 2023 in a case study on the Modern Wealth Management Educational Series.