Many successful business owners share a common story: they have the ability to generate substantial revenue and grow their business, but they struggle to hold onto that wealth over time. High income doesn’t automatically mean high savings or a sustainable legacy. With challenges like taxes, reinvesting without a clear strategy, or a lack of structured financial planning, the journey from
With the new year comes increased retirement plan contribution limits, offering more opportunities to save for the future. Here’s what you need to know for 2025.
401(k)s and 403(b)s
In 2025, you can defer up to $23,500 from your salary, with a total maximum contribution from all sources reaching $70,000, including employer matching and profit-sharing contributions. If you’re 50 or
We’re excited to share our Q4 2024 Market Update! In this video, we cover the most pressing economic trends and market themes to watch as we wrap up the year. If you’re curious about what’s happening with inflation, interest rates, or how the market may respond during an election year, this update is for you.
Here’s a glimpse of what
Are you considering the future of your wealth and how to pass it on to the next generation—without the need to sell essential assets just to cover estate taxes? Many business owners, real estate investors, and successful families face a similar dilemma. They want to pass their hard-earned wealth to loved ones but are confronted with a large tax bill.
As we approach the end of 2024, here are a few simple tax saving tips to lighten the burden when you file your taxes next April!
Max out your 401(k)
Your max for 401(k) accounts in 2024 is $23,000 if under age 50 and $30,500 if age 50 or older. These accounts generally must be funded from your paycheck before
Finish lines are important—in races and in our finances. No one keeps running after crossing the finish line, yet many of us haven’t considered how this concept applies to our financial lives. Why? Setting your financial—or retirement—finish line isn’t easy! Many people we encounter have their resources planned out but haven’t thought intentionally about why they want to retire, what
Losing a spouse or family member is one of the most challenging experiences one can face. When that person was also the one who managed your family’s finances, the loss can feel even more overwhelming. As advisors, we’ve navigated these situations many times. Each situation is unique because each person is unique.
During this difficult time, it’s important to remember
You own and manage a portfolio of rentals or perhaps a few office buildings. You like the income but you’re tired of dealing with tenants and toilets and would love to retire. The problem? You rely on the income and would face a massive tax bill if you cashed out.
Or perhaps you’re worried the local market for your commercial
You own and manage a portfolio of rentals or perhaps a few office buildings. You like the income but you’re tired of dealing with tenants and toilets and would love to retire. The problem? You rely on the income and would face a massive tax bill if you cashed out.
Or perhaps you’re worried the local market for your commercial
As a business owner, planning for the future of your company is as critical as managing its day-to-day operations. One of the most significant decisions you’ll face is how to ensure a smooth and successful transition when you’re ready to step back from your role. Integrating your business succession plan into your comprehensive financial strategy can safeguard your legacy, provide