We’re back after taking a week off to move across the country. I’m now settled in my new home and excited for the things to come. Anyway, enough about me and to the article. In an earlier edition of Net Worth the Wait, we covered index funds. A quick recap: an index fund is a […]
What Could Be Better Than Index Funds? Read More »
Accessing a Roth IRA is still possible for high income earners. It just requires a simple strategy. One of the most popular retirement accounts known to humankind is the Roth Individual Retirement Account (IRA). It’s an account where after-tax contributions grow tax-free, and withdrawals are also tax-free in retirement. The caveat is that as you
How High Earners Can Take Advantage of the Backdoor Roth IRA Read More »
Much of the general public — and even founders — tend to avoid understanding taxes. In my experience, most people hand everything off to an online tax service or their CPA and move on. No shame on them — having a good accountant or utilizing Turbo Tax is a perfectly acceptable option. I’ve used plenty
The More You Know: Understanding Tax Deductions and Credits Read More »
Why not save for medical expenses and retirement at the same time? Many retirement accounts provide tax advantages. A qualified retirement account (e.g., 401(k)) provides tax-deductible contributions and tax-deferred growth; a Roth IRA provides tax-free growth and tax-free withdrawals. There’s no account available under the IRS code that offers a federally approved triple-tax advantage, except
The Retirement Account Hidden Inside Your Health Insurance Read More »
If you’re not a real estate investor, a 1031 exchange will likely seem foreign to you. Keep reading, though, and I’ll share my thoughts on real estate as an overall investment strategy. The 1031 exchange is a real estate tax strategy that allows you to defer capital gains taxes and depreciation recapture taxes when selling
1031 Exchange: The Tax Strategy for Real Estate Investors Read More »
If you’re like me, YouTube is the preferred go-to source for information. It contains a plethora of videos on any topic you can imagine. I was recently watching a bunch of videos from tax and accounting gurus regarding S-Corps. While the information was valid, I wound up having concerns about the information that was being
S-Corp for Founders: Benefits, Risks, and the Hidden Traps Read More »
