While taxes may not be the most exciting topic, understanding how taxes work and what your tax liabilities may be are essential for effective financial planning. Whether you're preparing for retirement, managing investments, or simply aiming to minimize your tax liability, knowing your income brackets, the current capital gains rates, and contribution limits each year is crucial.
Read MoreBelieve it or not, taxes are typically one of, if not the largest expense we pay throughout our lifetime. While taxes are always constant, with proper planning and an understanding of how investments are taxed, you can be proactive in building effective, long-term tax planning strategies. In this article, we will be covering the basics of tax planning, touching on how accounts are taxed, the importance of tax diversification, and required minimum distributions.
Read MoreIt is a new year and with a fresh start comes hopes and dreams about what 2025 may bring. One of the many areas in focus is what may happen in the economy and stock markets for the year ahead. We are coming off the back of two very strong years in the markets, so how will they react in 2025? Can we experience a three-peat?
Read MoreAs in years past, 2024 was another one full of ups and downs, and I know many of us are looking forward to what the new year has in store. As 2024 comes to a close, it is a great time to reassess our financial situation and planning considerations. Each calendar year, the IRS adjusts contribution limits for retirement plans to account for inflation. Again, 2025 is no different as the IRS has recently announced the new retirement plan contributions for the year ahead.
Read MoreAfter Halloween, the holiday season vibes are in full force. It’s a great time of year to enjoy with friends, family, and co-workers and although this is a time we associate with great memories, it can also have a large impact on our wallets. Here are 3 key holiday budgeting strategies to implement now in 2024.
Read MoreWe're certainly getting closer to year-end, and many have had questions about the election and what to prepare for through the end of 2024. In this market outlook, we will be covering Mainsail’s perspective on the election impacts and what to watch ahead of year-end.
Read MoreAs we follow along with the dramatic events related to the upcoming presidential election so far, I am sure many are interested in our perspective around the financial and economic impacts of the election. That said, it is also important to focus on the fundamentals and the areas that are truly driving the stock market at the moment. Based on this, our market outlook will cover what has occurred so far in 2024, our perspective on what to watch ahead, and our forecast for the second half of 2024.
Read MoreAs we find ourselves with a potential stock market downturn on the horizon in 2024, it is important as a financial advisor to help break apart the narrative and provide financial perspective. While the markets are extremely important to pay attention to for your retirement planning, long term strategies should be in place to keep you on track for the long haul.
Read MoreLately many have become aware of the benefits around Roth IRAs, especially as it relates to tax-free growth and distributions. Rather than getting a small tax break today on pre-tax assets in exchange for a much larger tax bill as the account grows, many wonder how they can take advantage of Roth IRAs in retirement, in order to make the most of their nest egg. By strategically shifting away from only traditional, pre-tax assets and instead making Roth IRA conversions, you may be able to maximize your long-term savings and minimize tax burdens in retirement.
Read MoreAlready, we find ourselves in the second quarter of 2024, and with the sun out, it is looking to be a great spring here in the Pacific Northwest! As we look ahead, now is a great time to assess what has happened so far and what may be ahead in 2024. Below, I will briefly touch on our expectations, provide a recap of 2024 thus far, and share strategies to manage risk and provide opportunities for your portfolio.
Read MoreLet’s go back in time to 2017. Do you recall the tax landscape at that time, and do you remember the new tax bill that was introduced? That bill became the Tax Cuts and Jobs Act, which was passed in 2017 and went into effect in the 2018 tax year. For many, this new bill created significant tax savings and, as it stands right now, these tax cuts are set to sunset after 2025.
Read MoreI'm excited to kick off the new year with a recap of what we saw in the market last year, of course, look ahead into what may be coming in 2024. Additionally, I will be briefly touching on some of the strategies that may help manage risk and provide opportunities for your investments.
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