Good Financial Reads: Tax Strategy

Talking Taxes — What Can You Still do this Year?

by Kelly Luethje, Willow Planning Group

As 2018 starts winding to a close, and the holidays start racing toward us, it’s a good time to stop and take stock of how you’ve set yourself up for the 2018 tax season—and if there’s any way you can help maximize your potential tax savings for the year. (And if making any changes in 2018 is out of reach, now’s a great time to start planning for what to change in 2019!)

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Why a Tax-Diversified Strategy Makes Good Sense

by John Chesbrough, Trail Financial Planning LLC

You should save for retirement using different tax-advantaged accounts:  with tax-exemptaccounts like a Roth IRA accounts AND with tax-deferred accounts like a 401(k) or deferred compensation plans.  “Why?” you ask. 

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Save Taxes on 401(k) Distributions

by Steven Geri, Denny Park Investments

If you hold shares of your employer’s stock in your 401(k) account, there is an IRS rule with the potential to significantly reduce your future tax burden. The rule pertains to net unrealized appreciation (NUA). NUA is the difference between the price you originally paid for a stock (i.e., your cost basis) and its current value. 

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8 Year-End Tax Planning Tips

by Jason Speciner, Financial Planning Fort Collins

For many, tax season is a looming enigma. Will they have to pay in? Will they be getting a refund? How much? Could either affect their daily lives or how quickly they could achieve that next big life goal?

With a little planning, taxes don’t have to be shrouded in mystery.

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A Guide to Capital Gains Taxes

by Chad Rixse, Millennial Wealth, LLC

For those with taxable investments, planning for capital gains taxes and taking steps to mitigate your tax bill is an annual tradition. If you have a financial planner or CPA, it’s likely they’ve taken most of this responsibility off your hands or at least helped you address it. If you’re on your own, however, mitigating capital gains taxes can be daunting, if not confusing endeavor. 

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