Posts by Dana Sippel, CFP®, CPA/PFS
Post Archive
Tax Smart Charitable Gifting
New laws for 2018 tax returns resulted in only 8% of taxpayers itemizing their deductions 1. This means that the remaining 92% of Americans no longer receive any tax benefits for their charitable contributions. This article shows how to recapture lost tax deductions for charitable contributions. First, a couple of facts on tax deductions: for…
Read MoreHow To Use 529 Plans To Leverage A Wealth Transfer
The 2017 Tax Act improved 529 plans, adding provisions that allow plan balances to be used to pay K-12 tuition. Prior to 2018, 529 funds could only be used to post-secondary educational expenses. Here are some new wealth transfer strategies that 529 plans can now fulfill. Intro to 529 plans First, a couple of basics…
Read MoreInvesting Under The New Tax Law: These Haven’t Changed, but Don’t Forget Them!
The biggest tax act in over 30 years was signed into law last December, and people are obviously focusing on the big changes to tax rates, deductions, and tax exemptions. But while there were a lot of changes, a lot of details have stayed the same—and you need to make sure they don’t slip through…
Read MoreInvesting under the new tax law: The details you might have missed
The biggest tax act in over 30 years was signed into law last December, and people are obviously focusing on the big changes to tax rates, deductions, and tax exemptions. But there are a lot of small details that haven’t gotten quite as much attention. Here are 4 areas that have changes you may have…
Read MoreSupercharge Gifts To Kids With Roth IRAs
As the summer winds down, kids are returning to school, pockets overflowing with cash earned from summer jobs/internships. Is there an opportunity for these summer jobs to begin securing your child’s or grandchildren financial future? You bet there is, and it has arrived gift wrapped within the tax code in the form of a Roth…
Read MoreBiggest Mistakes When Buying a Vacation Home
It’s your favorite time of year to travel to fun, fantastic retreats with family and friends. You have the best times and create wonderful memories at____________(you fill in the blank) seaside, lakefront or ski resort. You’re certain that these beautiful times can be repeated regularly and forever if you spend more time at that cherished…
Read MoreSocial Security Benefits: When to claim them if you’re still working
You’ve just celebrated your 65th birthday and you’re ready to claim your Social Security benefits. Not so fast! Although you have reached the traditional retirement age, you enjoy your work and plan to continue working for a few more years. How does this impact your decision to begin Social Security benefits? What is FRA (and…
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