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Maximize the Use of Your Retirement Plans

Maximize the Use of Your Retirement Plans

I know retirement plans can be confusing, but they are very powerful tools for saving in a tax optimized way. You really have to dig into the specifics to understand the best tax strategy for yourself, but it will be well worth it in the long run.

Take Advantage of Lower Capital Gains Tax Rates

Take Advantage of Lower Capital Gains Tax Rates

We all know we get taxed many different ways, and it’s important to understand them all at least to some degree. I want to focus on the capital gains tax and how we can use these rates to our advantage.

Consider Using a Donor Advised Fund

Consider Using a Donor Advised Fund

If you regularly give to charity and have income that fluctuates, I’m going to show you something that is going to save you money. As I’m sure you know, your charitable contributions are deductible from your income for tax purposes.

Consider Making Roth Conversions Regularly

Consider Making Roth Conversions Regularly

Last week we talked about the three types of accounts we can use for our Long-Term Portfolio and I said it’s important to have balances in all three types. The Already-Taxed or Roth account is the most difficult to contribute to so I want to talk this week about how we can get money into a Roth by making conversions.

Use All 3 Tax Structures for Your Long-Term Portfolio

Use All 3 Tax Structures for Your Long-Term Portfolio

We want to use all three of these when investing our Long-Term Portfolio and I’ll tell you why in a moment. But first, I want to talk through how each of them works.

Level Your Income to Minimize Your Taxes

Level Your Income to Minimize Your Taxes

Our tax structure is progressive which means the more you make then the more as a percentage that you will pay in tax. If we knew how much money we will make in our lives and we could control when we will make it, there seems to be an optimal strategy to pay minimal tax.

Pay Your Taxes and Be Happy

Pay Your Taxes and Be Happy

The goal with taxes is not to pay the least amount of tax – it’s to keep as much as you possibly can. There are lots of strategies out there designed to minimize taxes, and unfortunately, many of them also minimize what you take home.

Have a Long-Term Portfolio Strategy in Place for Your Cash from Selling Company Stock

Have a Long-Term Portfolio Strategy in Place for Your Cash from Selling Company Stock

Once you have a plan in place to sell your Company Stock over time, be sure that money has some place to go. We don’t ever want our money to be without a job and the cash you get from your Company Stock is no exception.

Have a Strategy for Each Block of Vesting Shares

Have a Strategy for Each Block of Vesting Shares

No longer should we simply let these (newly vested shares) drift into our portfolio without a strategy or reason to hold vs. sell. Instead, we are going to develop a strategy for each block of vesting shares.

Know the Tax Effect of Selling Your Company Stock

Know the Tax Effect of Selling Your Company Stock

Taxes are a fact of life. I talk to a lot of people who are trying to find the super-secret way that people with money avoid paying taxes. I’m here to tell you – it doesn’t exist.

Understand the Risk Your Company Stock Creates in Your Financial Life

Understand the Risk Your Company Stock Creates in Your Financial Life

Is the amount of stock you have accumulated starting to look large to you? Do you want to be sure you are doing the best thing with this important asset?

Risk-Reward of Your Company Stock

Risk-Reward of Your Company Stock

We make decisions in everyday life based on seeking a reward given the risk we are willing to take. Without risk, there is no reward.