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Why hiring your kids is a GREAT tax strategy! πŸ‘¦πŸ»πŸ‘§πŸ’Έ #taxes #financialintelligence #money
This is what the government gives you if your spouse dies πŸ™ Hopefully you won't need to use this information, but it's good to be prepared for anything and everything. If you are legally married to your partner and they pass away, this is what the governement will do: - Allow you to file taxes and pay tax rates as if you were married and filing jointly, for the next two years - You'll get the bigger of the 2 social security checks - You can sell your primary residence within 2 years of them passing and still take advantage of the $500,000 tax-free growth on the property and not pay capital gains tax - You can take over your spouse's retirement account without triggering taxes (moving it to an IRA) #estateplanning #taxestips #taxminimization
A traditional IRA is like taking a $10,000 loan without knowing the interest rate πŸ’Έ If I offered you a $10,000 loan, you would probably ask two questions: "How long do I have to pay it back" and "What is the interest rate?" Let's say I tell you I haven't decided what the interest rate is going to be until I need the money back... would you take that loan? Probably not, it's too unpredictable This is exactly what a traditional IRA is like since we have no idea what future tax brackets are going to be in the future when you go to take out your money and have to pay taxes 🀷 #iratips #investmenttips #moneygrowth
What is a 457 and how does it work? Deferred compensation Plan πŸ’Έ #taxes #financialtips #retirementsavings
Social Security is an essential part of retiring in the United States. Nearly nine of ten people aged 65 and older receive benefits, which are based on your income, the year you were born and the age you decided to start taking money out. πŸ’° How it's calculated, however, is anything but simple. Here's how the math is broken down and how much you can expect to earn in Social Security benefits. #finance #socialsecurity #socialsecuritybenefits #financialadvisor #financetips #retirementplanning #financialplan
Did you know only 5% of advisors in the U.S. are independent advisors? 🀯 We're proud to be included in that 5%, since we serve the client directly rather than an institution 🀝 #independentadvisor #fiduciary #wealthmanagement
πŸ‘°πŸ»πŸ€΅πŸ»Before I get married should I make a prenuptial agreement? #loveandmoney #marriage #wealth
πŸ’₯ Here are 2 IMPORTANT financial lessons that anyone under 35 should know #rich #wealth#success
Top 6 πŸ” business books every entrepreneur should read πŸ“šοΈπŸš€ #entrepreneurship #motivationalwords #successful
What are you not doing with your finances that you should be taking advantage of? πŸ’΅ #finance #money #financialeducation #financialadvisor #education