Davy’s Post

As a small business owner, there are many items to think about as we start the New Year, but here are three financial planning items to consider addressing early in 2024. Tax planning: Be proactive this year to minimize your tax liability. Retirement planning: In addition to investing in your business, consider exploring business retirement account options (e.g., SEP IRA, SIMPLE IRA, solo 401k) as well. Evaluate your business structure (e.g., sole proprietorship, LLC, S corporation): Consider if changing your current business structure would benefit you for tax purposes. #financialplanning #taxplanning #smallbusinessowners

You’re invited to our business retirement webinar. Join moderator, journalist Amanda Lang and AVP Tax & Estate Planning Aurèle Courcelles on Thursday February 22, 2024 at 1 p.m. ET as they talk about how to navigate the complexities of exiting a business. Register here: https://ow.ly/K0XF50QtlKS #financialwebinar #financialadvisor #financialplanner #calgaryevents #yycbusiness #yycsmallbusiness #yycfamily #financialwealth #financialliteracy #investingtips #investmentstrategies #igwealthmanagement

You’re invited to our business retirement webinar. Join moderator, journalist Amanda Lang and AVP Tax & Estate Planning Aurèle Courcelles on Thursday February 22, 2024 at 1 p.m. ET as they talk about how to navigate the complexities of exiting a business. Register here: https://ow.ly/K0XF50QtlKS #financialwebinar #financialadvisor #financialplanner #calgaryevents #yycbusiness #yycsmallbusiness #yycfamily #financialwealth #financialliteracy #investingtips #investmentstrategies #igwealthmanagement

A Roth IRA is a robust tool for financial planning, offering after-tax contributions with tax-free growth and withdrawals. Unlike traditional IRAs, your contributions aren't tax-deductible, but the payoff is tax-free earnings and dividends, providing flexibility and tax advantages in retirement. Key perks include no required minimum distributions during your lifetime, giving you greater control over your financial resources and tax situation. This feature makes Roth IRAs especially valuable for those nearing retirement, optimizing tax management and income planning. For more tax saving tips, write to [email protected] #RothIRA #financialplanning #taxadvantages #retirementplanning #taxsavvy #investmentstrategies #retirementincome #financialfreedom

Are You Making the Most of Your Investment Accounts? Using both pre-tax (traditional IRA, 401k) and post-tax (Roth IRA, Roth 401k) investment accounts gives you more flexibility in managing your taxes. -Pre-tax investments lower your taxable income now but are taxed upon withdrawal. -Post-tax investments are taxed now but allow for tax-free withdrawals in retirement. This balanced approach can help you control your tax bracket and reduce overall taxes during retirement. Start planning today for a more financially secure future: https://lnkd.in/ggQfjqca Or sign up for our newsletter to stay informed: https://lnkd.in/gtG6JWrc #RetirementPlanning #Investing #TaxPlanning #FinancialSecurity

🔍 Daily Tax Insight 🔍 Attention professionals and entrepreneurs: Elevate your fiscal acumen with our daily tax tip. Spotlight on Retirement Contributions Maximizing your contributions to retirement accounts such as 401(k)s or IRAs can lead to substantial tax savings and a more secure future. 📈🔐 Take control of your financial planning and reduce your tax liabilities. For detailed approaches to wealth management and tax strategies, please visit our website or get in touch for a tailored financial analysis. 👉 flattopas.com #TaxStrategy #WealthGrowth #RetirementPlanning #TaxSavings #flattopaccountingsolutions 🗓️ Join our network for daily insights, and don't forget to share this valuable tip with your connections.

In this article, we review four reasons to consider a partial Roth conversion by year-end, increasing your taxable income for this year, but adding tax-free growth potential to your portfolio and potentially reducing your taxable income and boosting your after-tax growth potential during retirement. In order to implement a Roth conversion for the 2023 tax year, you will need to take action by year-end—and you should probably start the process as soon as possible to make sure you have time to fully consider your options and beat the year-end rush. It is important to discuss this decision with your financial advisor and tax advisor, incorporating all the specifics of your family's financial circumstances and objectives.

Understanding the implications of the proposed $3 million super cap tax is crucial to plan for your retirement. Speak to your trusted financial advisor to stay in the loop with how it may affect you. Get a head start with our recent article where we debunk the pervasive common myths of the reform. Read more: https://hubs.ly/Q02Q48FN0 #SuperCapTax #UnrealisedGains #OECDTax #UltonWealth

Are you are seeking to secure financial freedom and encourage long-term savings growth? Consider implementing tax-advantaged vehicles including municipal bonds, traditional IRAs and Roth IRAs, and 401(k)s in your financial journey to create a prosperous future and a comfortable retirement. Read our most recent article to learn more about how you can benefit from tax-advantaged accounts.

Are you are seeking to secure financial freedom and encourage long-term savings growth? Consider implementing tax-advantaged vehicles including municipal bonds, traditional IRAs and Roth IRAs, and 401(k)s in your financial journey to create a prosperous future and a comfortable retirement. Read our most recent article to learn more about how you can benefit from tax-advantaged accounts.