Blog – Tax Planning

Are you taking full advantage of your HSA?

We often see Health Savings Accounts (HSAs) underutilized because individuals may not understand how to take advantage of the benefits. Some of this stems from the confusion between health savings accounts and flexible spending accounts.

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American Rescue Plan

Last Thursday, President Biden signed into law the American Rescue Plan. Many have received $1,400 for themselves, a spouse, and any dependent claimed on the latest tax return. If IRS has not yet processed your 2020 tax return, the payment is based on the 2019 dependents claimed and adjusted gross income. If your 2020 tax […]

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Capital gains, dividends, and interest taxability

As tax documents start to arrive, many people have questions regarding the taxability of capital gains, dividends, and interest.

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Retirement Plan Distribution Rules

Do you have a retirement plan from a previous employer that you have left with the employer after separating from service? Once you leave your employer, you do have the ability to move qualified retirement accounts. There are two ways to accomplish this. You can do a transfer or a direct rollover. You will want […]

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Starting the Year Right

We are three weeks in – are you still on track with your financial resolutions? If not, consider the following TO DO list of items we recommend that you get done early in the year:

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Financial Resolutions

January 1st is in the past and we are already a week into 2021. Did you make a New Year’s Resolution that you have already not kept? Or are you still following through with your resolution?

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Gifting 101

The United States is known as one of the world’s most giving countries when “something happens.” This something could be a hurricane, flood, fire, or most recently, the pandemic. We certainly appreciate Planning with Purpose clients in supporting our efforts to help Mom’s House over the years. I also know that many of you are […]

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The final – More on your Financial To Do List

We want to continue with our final recommendations of financial tasks you should consider in the next  few weeks or early in the new year to improve your financial future.

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More on your Financial To Do List

Last week, Jen’s post centered around some recommendations for starting to prepare for your 2020 income tax returns. Hopefully, you are reviewing accounts for tax harvesting of losses, considering Roth conversions, working to maximize itemized deductions if you are going to itemize, and getting your paperwork organized.

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End of the year Financial TO DO

With one year ending and a new one getting ready to start, it is a great time to review your financial TO DO list for the year. Did you miss anything that could help your financial situation or lower your taxes?

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