When Is “Retirement Age”? Well, It Depends…
“Retirement age” doesn’t mean the same thing it did twenty years ago—or even ten years ago. From the “FIRE” movement—with advocates focused on retiring in their 50s or younger—to those pursuing a “second act”—a second career following a full first career—retirement age has come to mean many different things to many different people. But what’s the right age for you? Our article can help you decide.
Are You Building Wealth, or Just Making Money?
An older businessman once asked a young associate what the term “financial independence” meant to him. The young man thought a moment, then replied, “It’s when your paycheck is always enough to take care of your expenses.” The older man smiled and shook his head. “Financial independence,” he said, “is when it doesn’t matter whether you get a paycheck or not.”
Maximizing Your Executive Compensation Package
The nuances of executive compensation require careful attention to some specific elements and potential issues. Let’s talk about some of the basics of executive compensation, how they might fit into your long-term financial strategy, and some particular matters that deserve specific focus.
Top Tips for Small Business Owners to Organize Tax Records
By Caleb Arringdale,Tax Advisor For some small business owners, tax season is the time of year when they can’t use their dining room table because it’s covered with a year’s worth of receipts, all organized into tidy little stacks. They may also mark the season by spending hours poring over old credit card statements, trying […]
How to Keep Good Records for Your Personal Taxes
By Caleb Arringdale,Tax Advisor Probably the biggest reason people get stressed about doing their taxes is because they haven’t kept good records during the year. Nobody wants to be scrambling to find receipts in April, and yet so many people do. Good recordkeeping isn’t hard, it just takes a little forethought, and the result are […]
The Financial Planning A-Team Includes Your Tax Advisor
By Caleb Arringdale,Tax Advisor Some believe that the financial planning industry is unnecessary and choose to follow a few common-sense aphorisms like “Spend less than you earn”. However, good financial planning includes so much more than the basic “earnings vs savings” question. Great financial planning involves a holistic approach from a team of financial and […]
Tax Burn: When to Not Share the Wealth with Family
By Caleb Arringdale,Tax Advisor While sharing the wealth during your lifetime can be a great thing for you and your children, sometimes it’s best not to gift. To help illustrate the point, here is a scenario that you want to avoid: Let’s say Grandpa was a visionary who bought stock in Apple, Microsoft, and Amazon […]
Sharing the Wealth – Tax Free Ways to Gift to Children
By Caleb Arringdale If you have children or grandchildren, there are good reasons for choosing to pass along some of your wealth during your lifetime rather than leaving it all as an inheritance. It can reduce your estate taxes, help your loved ones at a time when they need it most, and it’s highly gratifying. […]
Understanding Your Stock’s Cost Basis
By Matt Knoll, CFP® & Caleb Arringdale, EA What is Cost Basis? Cost basis is the original value of a share of stock. Because stock prices go up and down frequently, you can use your stock’s cost basis to help determine if there is a gain or loss upon selling that stock. Mutual funds, ETFs, bonds, and real […]
Simplifying Tax Planning for Retirees
Caleb Arringdale, TPC Tax Advisor, recently presented “Simplifying Tax Planning for Retirees” as part of the Expedition to Retirement webinar series. To watch this informative webinar, complete the below information to receive access
Extra Identity Protection PINs Available for all Taxpayers
By Caleb Arringdale Several years ago, the IRS instituted a program to help identity theft victims secure their tax returns. Those who qualified for the program received a 6-digit number in an annual letter from the IRS called an Identity Protection Personal Identification Number (IP PIN). Prior to 2021, the program was only available […]
How Bonds Can Reduce Your Tax Burden
By Caleb Arringdale When most people think of investments, the first thing that comes to mind is usually stocks. Stocks receive much more media attention and have the potential to increase in value rapidly, creating income for the owner. With that potential to rapidly increase in value, though, comes the risk of a rapid decrease, […]
